PayPal is considering rolling the dice on the online gambling marketplace. According to reports first published in Online Poker Report’s daily news letter, and followed-up on Twitter, sources have told OPR’s Chris Grove that PayPal is investigating a return to processing payments in the U.S. state regulated online gambling market.
“Sources tell OPR that PayPal will start processing regulated US online #gambling payments in coming months. Handful of operators to start,” Grove tweeted.
Grove further noted that PayPay has been investigating the issue for months.
PayPal had processed online gaming transactions in the U.S. prior to it acquisition by eBay in 2002. Though it has stopped doing so in the U.S. market, PayPal already processes payments for online pokers rooms, sports books, and casinos in Europe.
PayPal’s departure opened the door of Neteller (which services online gaming in New Jersey and Nevada) and Skrill (New Jersey only)—two card companies that specialize in online gaming payments in the U.S. and around the world.
More traditional alternatives like Visa and MasterCard are less popular and they reportedly still carry a decline rate of around 25 percent, reports U.S. Poker. eChecks face a similarly high rejection rate.
At the time of its departure from the martker, PayPal was the most popular payment method for paid online gambling sites.
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