PayPal back in the game at select casinos
July 30, 2010
Every gamblers favourite online payment method and e-wallet, Paypal is reportedly renewing its full service to select online casinos which means that players will once again be able to use this popular payment method when playing online. This decision comes a year after withdrawing from the online casino industry due to industry instability.
It has been reported that while the Ladbrokes and 32Red group’s were the first two companies to establish new agreements with the e-commerce giant, Virgin Casino also reached an agreement with PayPal last week.
The shift is very good news for online casino players who once enjoyed the safety and convenience of PayPal’s money transfer services. While the organisation has largely moved away from the online gambling sector due to a decision made by its parent company (eBay) after being accused of violating the law by the United States federal government when transferring funds to offshore gambling websites.
The company did however still maintain some ties to the industry through agreements like those signed with casino giant 888.com whereby e-wallet provider Neovia was employed to enable players to use PayPal as an online payment method to online casinos via the Neovia’s Netbank system. Which just goes to show where there is a will there is a way for the world’s most widely used online payment company, it really is no wonder that they generate annual revenue well in excess of $2 billion.
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