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Aug
13th

PayPal Returns to Online Bingo!

PayPal is the world’s leading online payment processor and has over 160 million individual accounts and accepts 17 major currencies.  PayPal account holders can make purchases online and send money transfers and in most countries PayPal can be used to fund online gambling accounts including online bingo deposits and withdrawals. PayPal has a well deserved reputation of being user friendly and safe. Since the US banned online gambling in 2006 most internet bingo and gambling sites sought other funding options. PayPal had pretty much exited the gambling market when the US legislation was passed. The arrest of Neteller executives made the online payment processing skittish and US players soon found themselves without reliable ways to fund accounts at online bingo sites. Many online bingo sites simply banned players from the US.

The online gambling market is one of the world’s fastest growing and lucrative markets. Recent reports indicate that PayPal is making a slow re entry into the online gaming market for UK, Asian and European players. Several online bingo providers have announced plans to offer players the security and reliability of PayPal. The service offers protection against fraud and users do not have to enter card details every time a transaction is made.

At the present time US players are not able to use PayPal to fund online bingo accounts but that may change soon. Recently legislation was introduced in the US congress that would legalize tax and regulate online gaming including bingo. Once this is accomplished, PayPal is set to serve these new players of internet bingo games from the US. Thanks to anti gambling laws US players have been at the mercy of less than savory online payment providers. Several online casinos and bingo providers have announced plans to offer PayPal’s services to clients. The online bingo industry welcomes PayPal’s return.