Paypal Returns to US Online Gaming - Where it's Regulated
Arguably the worlds best known online payment processing company Paypal, is set to enter the US online gambling arena, in those states where internet gambling is regulated. Paypal is known to many in part due to its association with the online giant ebay, however it is also an extremely popular method of depositing and withdrawing funds in a huge amount of online casinos, poker rooms and sports sites around Europe. Reports circulating suggest that the online payment giant will begin accepting payments from online casino and poker players in those regulated states of Delaware, Nevada and New Jersey and this will come as welcome news for players but quite possibly more so for operators in those jurisdictions, due to the credit card decline problems that they have been facing.
Paypal has a huge amount of customers, estimated to be over 150 million and it's hoped that their involvement with regulated US gambling may assist in giving it the kickstart that it so badly needs. Online gaming in all 3 regulated areas has struggled to get anywhere near the predicted activity and that is partly down to the amount of credit card transactions that are being declined by US banks. Major US banks, such as Bank of America are refusing to facilitate credit card deposits to online gaming companies, due to the poorly worded UIGEA that put the brakes on US banks dealing with offshore gaming companies, and now that is hurting the regulated market. Paypal may help assist in this area as hopefully very soon, players will be able to easily and swiftly fund their Paypal accounts with their credit and debit cards and then make their deposits into their casino or poker room of choice via Paypal.