Paypal Back In The Gambling Ring
Sometime ago, many of us, who used to enjoy gambling on online casinos, were struck quite a blow when PayPal refused the people who wanted to make payments to their online casinos. This came as quite a shock as many of us trusted only PayPal when it came to making online payments to casinos. Very few of us trust credit cards to make our casino payments. With all the tales of credit card fraud and what not, anyone can tell you using your credit cards online is a very big gamble itself. Therefore, the latest new that PayPal is now reentering this business is really a good bit of news. But, you should know things will not remain the same.
What Is The New Deal?
PayPal is back, but it has brought along with it a new policy to protect its reputation. Earlier also, it retracted itself from the casino business in a bid to protect its reputation and not become branded as the gambling syndicate. Now that PayPal is reentering the fray, it has decided to deal with the larger and leading online casinos only. The casinos mentioned in its new policy are the big European casinos – Ladbrokes and 32Red. In the United States, it remains the same and is still illegal. So, if you are dealing with any of these online casinos, it’s good news. But for the rest of us who choose to deal with or are already dealing with the many smaller online casinos, PayPal is not welcoming us back anytime soon.
The reason why they came back is pretty clear. PayPal is by far the safest and easiest way to transfer funds online for individuals and institutions. It was the primary choice for online casinos and players to give and get money. Online casinos are no minority and they must have had a large chunk of money transferring to PayPal. It was not pliable for PayPal to suddenly get up and walk out on such a large business front that has the potential to grow even more. It was obviously detrimental for their business when they decided to cut off the gamblers. But now they have come back so that they can still get a piece of the action, albeit a small one. Their decision to stick to the two leading casinos will result in them losing out on a substantial part of the business.
The decision to deal with the two leading and most reputable casinos in Europe is to make sure that their clean and irreproachable reputation remains so.
Many of the smaller casinos may take a hit in their business because of this new policy. This is because now people will choose these two larger casinos, that PayPal supports, to safeguard and safely transact their money. Therefore the people who always have had dealings with Ladbrokes and 32Red have something to rejoice over. They can now return to gambling without worrying about the passage of money.