Paypal Makes Online Bingo
Gambling Comeback
 August
3 -
A few years ago top online payment wallet
Paypal
was only too happy to process online gambling-related payments
for internet gamblers all over the world, but stopped doing so
not long after
U.S. authorities started cracking down on the
gambling, even arresting leading online gambling executives.
This
lead the way for one of Paypal's then lesser rivals,
Neteller, to jump into the spotlight
as it was only too happy to
continue accepting online gamblers. Which is one of the reasons
why Neteller has evolved into the online payment giant it has.
However, now Paypal seems to be reversing its online gambling
policy.
At least
for online gambling fans that are not based in the U.S.
and are thus affected by UIGEA, the draconian act passed by
Congress in October 2006 that has acted like
a 'springboard' for
the U.S. Department of Justice
to go after many of the world's
largest online gambling concerns and their
top executives.
Paypal is starting off very small and cautiously
by only
processing payments for players based
in the United Kingdom,
where online gambling is fully legal and regulated. According to
reports, the online wallet has started processing payments once
again for UK
gambling fans at a select few online bingo sites.
None of the UK bingo sites that Paypal is servicing accept
players from the U.S.
However, according to online
gambling insiders, if the U.S. - under the Obama administration
- were to reverse UIGEA and legalise and regulate online
gambling,
Paypal would hop back into the U.S. market with both
feet.
It's
no secret that the U.S. market is by far the most lucrative in
the world
which is why most of the world's largest online gambling
operators and related firms are poised to re-enter the American
market
as soon as its 'Big Brother' and 'protectionist' online gambling
laws are revoked,
and 'freedom' laws implemented.
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