In a recent move, PayPal has re-entered the online gambling space in the United States. The payment processing giant recently confirmed that it is working with several real-money gaming operators to provide a solution for customers submitting money on gambling sites. With eGambling legal in Nevada, New Jersey, and Delaware, could PayPal’s continued involvement spark legalization in other states?
Thirteen Years Later, PayPal Returns
Before merging with eBay in 2002, PayPal used to offer its services to gambling merchants. However, since they became an eBay property, they discontinued that product. TotallyGaming.com reports that back then, six percent of PayPal’s revenue came from internet gambling payments.
However, since PayPal recently became more independent from eBay, the processing company almost immediately returned to the industry. Players can now use PayPal to submit payments on popular online gambling platforms from Caesars Entertainment subsidiaries including Caesars Interactive Entertainment and HarrahsCasino.
A Spark for Online Gambling
Online gambling is a hotly contested trend emerging in recent years. As e-commerce continues its march toward normalcy, many in the gambling industry are excited about the possibilities that exist online. Many others, however, are not thrilled about internet gambling.
Currently, gambling online is only legal in three out of fifty American states. While a fourth, Pennsylvania, is testing the waters, many other states haven’t taken up the issue at all. However, now that PayPal has gotten involved in the industry, online gambling has potential to draw more customers with the new payment method.
Payment Processing for Gambling Merchants
As the gambling industry takes more steps forward, more payment processing options will become available. Merchants in that industry can already find great merchant accounts that give them the tools they need to run a successful business, like multi-currency and real-time processing options.