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Baby Steps into Online Casino Market

The announcement earlier this month that Papal planned to enter the European and UK online casino gambling market has been met with a lot of enthusiasm from the gaming industry. Although there are plenty of payment processors and e-wallets in the market right now, Paypal is a hugely respected name in the industry and surely one that internet gamblers can use with faith and trust that their money is safe. Paypal announced a planned entry into the gambling market as a way to not only bring in more revenues, but to also prep for the possibility that the US market will legalize online casinos and internet gambling in the coming months and years.

There is no way that Paypal can enter into the current US market because of a ban on US financial transactions, but the company is looking toward the possibilities of a full re-entry into the European market. The company has a policy that specifically protects the company against the online casino gambling industry, but now that the regulatory environment in the UK is so progressive and lucrative, Paypal has revisited and altered the policy.

Paypal has already penned a deal to offer payment processing solutions for 32Red, a major online casino gambling group in the UK and European market. And one of the chief reasons that Paypal has chosen 32Red is the fact that the gambling site already does not accept US players. That makes the situation much easier for Paypal; Paypal would face serious fines if the company facilitated gambling transactions with US gamblers.