Friday saw the launch of new Merchant Category Codes (MCC) for online gambling, but their introduction isn’t expected to change the fortunes of operators in US regulated intrastate markets anytime soon.

One of the biggest problems states like New Jersey have had in jumpstarting their fledgling online gambling markets is the reluctance and/or outright refusal of many large financial institutions to process transactions for gambling sites.

In the absence of a nationwide federal stamp of approval for online gambling – not to mention significant efforts underway to stuff the intrastate genie back in the bottle – major banks and credit card companies have been understandably leery about embracing the new islands of forward thinking.

Last September, plans were announced to introduce a raft of new online gambling MCC to replace the catch-all 7995 MCC that had become so toxic in the eyes of financial firms following the 2006 passage of the Unlawful Internet Gambling Enforcement Act. On Friday, Mastercard, Visa, American Express and Discover introduced three new online gambling MCCs covering state-sanctioned online lotteries (7800), online casino games (7801) and advance deposit wagering for horse and dog racing (7802).