PayPal May Rejoin Online Casino Industry 2006-03-16
Electronic cash merchant PayPal used to be the payment method of choice for many online casino fans. However after a takeover by eBay, the company's policies toward online casinos changed and U.S. gambling fans found they were no longer able to make financial transactions to the online casino via their eBay accounts. Neteller subsequently took over where PayPal left off and grew to be one of the most successful finance companies on the internet.
However online casino operator Bet Fair has recently opened the door for European fans to start using PayPal again for all their online casinos transactions. PayPal's service will be fully integrated with the account section of the Bet Fair site so casino fans will be able to pay in and withdraw funds from their online casino account instantaneously. Players will also be able to withdraw winnings directly into their PayPal accounts.
Currently Bet Fair processes two times the credits and debits of any other European online casino websites. During peak hours, approximately 12,000 bets are placed on the site each minute, resulting in over 5 million transactions each day. While European customers of the online casinos operator can use PayPal again immediately, the company's policy of prohibiting the use of its service for gambling activities by U.S. online casino players remains firmly in place.
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