Nevada Issues License to Secure Trading

Nevada Issues License to Secure TradingThe Nevada Gaming Commission (NGC) has granted a license to Secure Trading to process payments and provide security safeguards for its online poker regime.

Secure Trading operates as a subsidiary of the UC Group, which is recognized globally as a leading company for Internet security and payment processing services. Secure Trading has a wealth of experience in the industry and currently supports several well-known online poker websites, including PartyPoker and PokerStars.

The functions of identity and location verification are taken very seriously by Nevada gaming officials. Payment processing is seen as extremely crucial to players in light of the fiasco surrounding Black Friday and Full Tilt Poker in which U.S. players have been waiting for more than two years for reimbursement of funds. A reputable company that can fully handle those services is precisely the type that Silver State gaming officials were seeking for the state’s soon-to-be launched online poker scheme, NGC Chairman Peter C. Bernhard told kten.com.

Secure Trading was created in 2009 in anticipation of a regulated online gaming market in the U.S. Under the umbrella of the UC Group, the company is the UK’s leading Internet payment processing company. Its goal is to provide a one-stop shop for licensed gambling operators who can focus their attention on other matters knowing that payment and security functions are in good hands, said Chairman Chris Thom.

The NGC has been scrutinizing applicants and doling out licenses since last year in preparation of launching the first legalized online poker sites in the U.S. Over 20 licenses have now been issued to various companies in several categories that include online gaming operators and IT service roles such as the one granted to Secure Trading.

Amending their laws earlier this year to allow for interstate agreements as opposed to the initial intrastate format, the Silver State looks to be well ahead of Delaware and New Jersey in going online. Nevada hopes to partner with other states to increase player liquidity. The licensing of a well-established company that is already licensed in 29 jurisdictions to facilitate geolocation and payment services is a positive step in that direction.