If you’ve tried to make an online gambling deposit using PayPal anywhere in the United States, Canada, the UK, or pretty much anywhere on the planet, chances are you’ve been disappointed. You might have searched the Internet high and low for things like PayPal casinos or PayPal gambling deposits. And chances are Google delivered you a bunch of search results that simply used PayPal online gambling as a keyword to lure you in. The best case scenario? You were presented alternatives to PayPal that worked a lot like it, yet not quite.
That could soon change. Caesars Interactive Entertainment has just received permission to accept PayPal for deposits and withdrawals on their Nevada-branded online casinos. While these sites aren’t available nationally or internationally, it’s a start — and it’s fairly significant.
For the better part of a decade-and-a-half, PayPal has not allowed its service to be used for online gambling transactions. They used to. Back in the early days, PayPal was accepted for anything and everything. But in 2002, they were acquired by eBay. When that happened, eBay blocked PayPal as a payment method for gambling websites and adult sites.
But now that PayPal is becoming an independent entity, it looks like they’re starting to change course and accept PayPal for online gambling deposits.
Some believe that PayPal will only deal with sites that are regulated by individual states in the US. However, that might not be the case. PayPal is used internationally, pretty much all over the world for almost every type of transaction you can think of. To only allow PayPal casino deposits and withdrawals on a handful of sites that somehow have a small government body’s stamp of approval might actually cause more legal problems than accepting PayPal across the board.
PayPal might also be keen to accept payments for gambling transactions. Online casino and poker is a multi-billion-dollar industry. In fact, in the US alone, the iGaming business is estimated to grow to over $7 billion by 2017. And let’s say PayPal could nab just 10% of the market. That’s $700 million in deposits. PayPal takes about 2.5% off the top for transaction fees, which equates to about $17.5 million in fees, which is theirs for doing absolutely nothing.
Keep in mind that we’re talking exclusively about the United States. The global iGaming market is even bigger, with the US accounting for only a fraction of all the online action happening on planet earth.
Even without PayPal, though, making deposits at an online casino doesn’t have to be a hassle. At Prism Casino, we accept a number of different payment options, including Visa, MasterCard, and person-to-person transfers. All our deposit methods are safe, secure, and fast, so you can start playing instantly, as soon as you make your deposit — and get your cash in your hands as soon as possible after hitting that big jackpot.
And who knows? If the tide turns and the powers that be realize that online gaming is a fun, safe pastime for hundreds of millions of people around the world, PayPal might soon be on our list, too.