Will PayPal bet on gambling as new revenue source?
When eBay acquired PayPal back in 2002 one of the first things they did was shut down PayPal as a payment method for gambling and adult sites.
Clamping down on gambling was a decision largely based on the legal and regulatory issues that surround gambling websites, particularly in the US where gambling is much more heavily regulated than in Europe. The issues surrounding adult sites and services were, I recall thinking at the time, more a prurient reflection of the fairly staid morality of eBay’s top table. And, fair to say, there are potential legal issues too.
But the newly independent PayPal would seem to be reassessing the potentially lucrative possibilities of powering gambling once more in The US.
Caesars Interactive Entertainment (CIE) is now the first US-licensed online gaming firm to offer PayPal and it will be available on their CaesarsCasino.com, HarrahsCasino.com and WSOP.com sites. We’ll see what follows.