Online gambling websites start using Paypal
For the first time in over a decade, a few online gambling websites have started accepting Paypal as a payment method for playing online casino.
US.- After enhanced regulation and a merger with eBay, PayPal stopped supporting online gaming in the U.S. back in 2003, even though it was reportedly the largest transactor for global online gambling at that time.
Then in September, PayPal quietly re-entered the online gaming segment working with a few US online gambling websites such as WSOP.com and DerbyGames.com, which started to accept it as a payment method.
Paypal announced to CNBC that it is launching a pilot with the aim of fully complying with the evolving regulations surrounding real money gaming in the US, plus the requirements of PayPal’s payment partners. The payment company is convinced using PayPal will make transactions much easier for gamblers as they can have money instantly credited to their account instead of waiting several days to get their check mailed to them.
The potential of online gaming revenue in the US is huge considering that New Jersey alone generated just over US$12 million in July through the online route compared to total national casino revenue of over US$70 billion.
The U.K., Sweden and Portugal have accepted PayPal for gambling transactions online, although, casinos for Australian players won’t accept it as a payment method. Some gambling sites like casino.org periodically highlight their top ranking PayPal casinos and the casinos placed on their blacklist are considered “rogue” casinos to avoid.
