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NEWS 6 June 2019

Worldpay Gaming MD: US market has “tremendous confidence” in favourable Wire Act outcome

By Tim Poole

Gambling Insider has previously written about the benefits of foresight.

While we will always claim (after the event) our favourite team could have made the play-offs if a certain player had started, it’s always better to call things in advance.

Naturally, that applies to the very essence of making a wager – but also the nascent US sports betting opportunity.

During a recent interview with Gambling Insider, SVP and Managing Director of Worldpay Gaming Joe Pappano expressed his confidence in a favourable Federal Wire Act outcome. This was before a Federal Judge ruled against the Department of Justice’s (DoJ) November reinterpretation of the Wire Act, something the DoJ now has the right to appeal.

The benefits of foresight.

"When this new interpretation came in, it was important for everybody to understand in no way shape or form does it impact the roll out of legalised sports betting in the US market," Pappano explained exclusively to Gambling Insider.

"I will tell you there has not been a knee-jerk response in the market. It would have been easy for the card networks to say we’re going on pause.

"Visa and Mastercard have continued to aggressively support the market. Discover and American Express are working on a pilot, which is something they have never done within the US online gaming market.

"We feel very confident in the role of payments supporting US gaming and sports betting markets. There is a tremendous confidence we’ll have a favourable outcome."

Register for free here to read the full interview with Worldpay exec Pappano, when the July/August edition of the Gambling Insider magazine is published.

RELATED TAGS: Online | Legal & Regulatory | Sports Betting
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