Paypal returns to internet gambling
There have been several interesting moves lately relating to the US online gambling saga, and one is the news that Paypal has begun to return to process payments for online bingo. This is seen by many as an indication that there will be regulated online gambling in America.
Going back several years Paypal was widely used by online gamblers, but this changed after Paypal was acquired by eBay in 2002. Soon after Paypal stopped processing payments due to the legal risks in the US. At the time this seemed to be a very cautious move, particularly as this was before the UIGEA. At the time the Wire Act was restricting payment processing for online gambling although in a low key way.
Recently though financial service, banking and credit card industries are becoming more vocal in their protests against the UIGEA’s restrictions and Paypal seems to be slowly re-entering the market. 32Red and Ladbrokes bingo have recently started to allow payments by Paypal, which many believe is a sign that Paypal is making a return to the world of online gambling. Paypal can also be used on the Virgin gaming network and it is expected it will be used by an increasing number of online casinos.
At the end of the day we believe that a greater choice in payment methods for players can only be a good thing, and we’ll certainly be watching this situation with interest.
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