Paypal Re-Enters the Gambling Market

August 4, 2009

Gambling Payment Processing

Although US players will still not be able to make use of the feature, payment processor Paypal is once again processing online gambling transactions.

The turnaround in Paypal’s policy towards online gambling transactions has begun in the UK market with a move to allowing online bingo, poker and casino sites to once again make use of its nearly instantaneous money transfer service.

Industry insiders speculate that the move comes after major players in thye search ads market opted to allow gambling advertising in the UK and that Paypal may be preparing itself to enter the US gambling market should UIGEA be repealed. According to a recent study, the US gambling market could be worth 12 Billion Dollars annually if opened.

For now only a handful of UK casino and bingo operators will be offering Paypal as a payment option, but Paypal assured players of secure transactions without the need to reveal sensitive finacial data to operators in the form of bank account or credit card numbers.

According to a report by Online Casino Advisory, Paypal still seems to be operating cautiously to avoid legal entanglements with US authorities and the move is seen by observers as the beginning of a reversal of the online gambling ban.