It has been reported that PayPal, one of the world’s largest online payment processors, could soon be entering the US online gambling market.
Although the company has to date not made any public statement regarding these plans, it is understood that PayPal will commence processing payments for regulated online poker and casino sites in Nevada, Delaware and New Jersey within the next few months.
US players will be thrilled with this move as they are familiar with PayPal and regard the brand as a trusted online payment method.
Players in the US have thus far had hassles when attempting to pay with brands such as Visa or Mastercard and will, therefore, welcome the fact that they will be guaranteed a payment method such as PayPal that can be used by them without giving any problems.
Individual states such as New Jersey and Nevada have managed to move forward with regulated online gambling industries but the same cannot be said for banks and financial institutions that have not yet caught up. On average, there is a decline rate of 25% when at attempt is made by players to pay with their credit card and it is hoped that this problem will be solved if PayPal enters the market.
Although alternative methods such as Neteller and Skrill are available in the regulated US market, these brands are not well known among US players. PayPal’s entry into the market will be extremely welcomed by players as it is a brand that they know and trust.
PayPal currently services 150 million people across the globe and is known for its solid platform and tight security. The group also handles credit card processing and has an e-check system.
