PayPal, which is a well-known e-commerce business, is very likely to return to US IGAMING channels according to Online Poker Report. Taking into consideration that they have over 150 million users and that the third of them are residents of the USA, their return to the world of US IGAMING might not come as such surprise.
However, it will definitely increase the credibility of business, after the recent article “Poker Face – How Washington Opened the Floodgates to Online gambling” which was written by Newsweek reporter Leah McGrath Goodman.
PayPal will make payments easy and simple
PayPal operates with the idea of solving “traffic jams” in financial transfers and they are doing their best to decrease the time which is needed to process a payment. The ease of moving money from different sites and their trustworthiness will bring relief especially to online poker players.
Don’t forget that in June PayPal was honored at the eGaming Review B2B Awards at the Pavilion in the Tower of London with the award for Innovation in payment solutions.
Is it true that PayPal is returning to US IGAMING?
The first one who informed the public that PayPal is considering to return to the regulating IGAMING markets in North America was Chris Groove of Online Poker Report.
Chris Krafcig, who is a Gambling Compliance’s Research director for North America, confirmed this piece of news when he tweeted a few days ago: “New Jersey DGE confirmed yesterday it was in licensing discussions with PayPal. Navada GCB said PP is not currently a license applicant.”
Coinbase declares gambling in US illegal
Even though the return of PayPal, which is one of the leaders in online payment-processing business, is considered good news, it might also be the reason why Coinbase, which is a Bitcoin wallet, have just blocked the accounts of some users.
A Seals with Clubs online poker player has recently made a post on Reddit to warn his fellow players about using Coinbase to handle Bitcoin casino transfers after having their account blocked due to the Coinbase review.
In one of their e-mails to a worried player Coinbase officials stated that the gambling is illegal according to US law even if you live outside of US. And therefore they cannot provide any service to users who need accounts for the purposes of any type of gambling activities.
Also the Wall Street Journal have recently reported that Braintree, a payment company and which is a subsidiary of eBay and PayPal, is negotiating with Coinbase the possibility of introducing Bitcoin as a payment option. Coinbase might be a bit concerned that connection with gambling might harm the deal.