TECH giant Apple might be releasing their own credit card, but it will not be able to be used for online gambling deposits or to buy cryptocurrencies.
The announcement of the credit card and an impending release date in the USA came at a launch event, which was only expected to feature news about Apple News Plus, Apple TV Plus and Apple Arcade, three newly unveiled subscription services.
Despite the announcement of the credit card, which will be heavily iPhone orientated, Apple has ruled out the card mirroring other credit companies and allowing it to be used for real money gambling deposits.
Apple Card is going to work off the Mastercard network, while Goldman Sachs has also partnered in the project, with their involvement set to give it never-before-seen functionality.
Apple has been clear in its communications about the restrictions placed on card holders, with some of prohibited acts including:
- Cash advances
- Travellers cheques
- Cash transactions
- Gambling – both retail and online
Specifically talking about gambling, Apple has stated their banned transactions list also includes “Lottery tickets, casino gaming chips (whether physical or digital), or race track wagers or similar betting transactions.”
The Apple Card has been touted as a next generation credit card, with many features that have not been seen before.
One of the biggest pros about the Apple Card is that, within minutes, you can sign up on your iPhone and use it anywhere in the world, although at this time the card is only due to be available to USA residents in August, 2019.
The Apple Credit card will then be available across all linked devices, with your spending tracked, transactions listed and details about when your next payment is due.
Apple has also vowed the credit card will have fewer fees and low interest rates.
BettingPlanet.com will keep an eye on any developments surrounding the Apple Card and online betting and gambling and provide information as it breaks.
Britain’s biggest bookies have vowed to raise their voluntary levy from 0.1% to 1% by 2023.
New Hampshire has won its case against the DOJ over last year’s revised opinion of the Wire Act.
The Volunteer State is the first to legalise mobile sports betting without any land-based operations.
New Yorkers are evenly split on whether or not to legalise sports gambling, a recent survey shows.
NEW Jersey’s sports betting market has exceeded expectations after almost $600 million was wagered in the state in just four and a half months.
Figures released in the US on Thursday by the state Division of Gaming Enforcement show gamblers wagered $260 million on sports in October alone, bringing the total to $597 million since mid-June.
Those figures, plus revenue from two newly reopened casinos, helped Atlantic City’s casino industry post an increase of nearly 16 percent in gambling revenue compared with a year ago, at $239 million.
CEO of William Hill US Joe Asher said the numbers in New Jersey “continue to be impressive”.
“It’s important to remember that the New Jersey sports betting industry is just ramping up. We didn’t even have our app in the Apple Store until the end of September, so we are very pleased.”
FanDuel, which runs the sports book at the Meadowlands Racetrack in East Rutherford, just outside New York City, called October “a great month.” Spokesman Kevin Hennessy said the company took in two and a half times as many online bets as it did a month earlier, and experienced “continued double-digit growth” in in-person wagering.
Major League Baseball, which had both the post-season and the World Series, accounted for most of October’s bets.
New Jersey won a U.S. Supreme Court case in May clearing the way for all 50 states to offer legal sports betting. Five states are currently doing so.
So far this year, New Jersey’s casinos and racetracks have seen $52 million in revenue from sports bets after paying out winning tickets; some of the money bet is on future events like the Super Bowl in February and is not yet counted as a win or a loss for the casino or track.
Resorts Digital, which partners with DraftKings, has won the lion’s share of that revenue at $16.5 million.
The Meadowlands Racetrack won $15.2 million, and Monmouth Park Racetrack is third at $7.4 million. The Borgata casino won $5.1 million; Ocean Resort won $3.8 million; the Golden Nugget $1.5 million and Bally’s $1.2 million; other casinos each won less than $1 million.
Internet gambling continued its strong and steady rise in New Jersey in October, with $26.7 million won online, an increase of over 30 percent from a year ago.
FLORIDA voters on Tuesday approved an amendment that strips the state legislature of the power to expand gambling, including sports betting.
Amendment 3 says the only way casino gambling can be approved is through a statewide initiative placed on the ballot by citizen petition.
Exceptions were made for casinos on Indian reservations.
The Walt Disney Co. and the Seminole Tribe of Indians have both backed the move, which owns casinos in the Fort Lauderdale and Tampa areas.
Opponents included some horse track and dog track operators.
They accused Disney and the Seminoles of not wanting competition for tourist dollars. They believe the decision on whether to allow casinos should be left to each county’s voters.
Other opponents of the amendment said it would “potentially close the door” on sports betting legalization in the state.
The Miami Dolphins sent out a tweet Monday highlighting their concerns over Amendment 3, claiming that if the legislation passes, it “would effectively block any chance for sports betting in Florida.”
The Tampa Bay Buccaneers also lobbied against the amendment, as did online betting sites such as FanDuel and DraftKings.
The measure was placed on the ballot by petition.
UK residents with online gambling accounts will be hit by increased “sin” tax as part of Philip Hammond’s budget.
The new increases, which also impact cigarettes and wine sales, are set to generate £1 billion in taxes over five years from online wagering alone.
The government’s decision earlier this year to cut the maximum stake on fixed-odds betting terminals (FOBTs) from £100 to £2 triggered an overhaul of gambling tax, due to take effect in October.
Lost revenue from the machine gaming duty levied on FOBTs is expected to cost the exchequer £1.15bn over five years, according to Treasury projections.
It will make up for the shortfall by increasing the tax on online casino games from 15% to 21%, raising an estimated £1.25bn over the same period.
While the tweaks to gambling tax will cancel each other out fiscally, both FOBT campaigners and online gambling companies are likely to be unhappy.
Campaigners against FOBTs criticised the decision to postpone FOBT curbs until October last year.
Labour’s deputy leader, Tom Watson told UK publication The Guardian: “By rolling back on their promises the government are allowing greed to triumph over good as the bookies trouser an additional £900m in revenue.
“The new secretary of state has let down not only his predecessors who campaigned for urgent change, but all the gambling charities, reformers and addicts who were relying on him not to bow to the will of the Treasury.”