PayPal’s rumored re-entry into the world of processing online gambling payments in the United States is rapidly moving closer to becoming reality.
And yesterday, EGR reported that the DGE and PayPal were in talks, citing a source close to regulators.
Today, GamblingCompliance’s Chris Krafcik passed along direct confirmation from the NJ Division of Gaming Enforcement:
— Chris Krafcik (@CKrafcik) August 20, 2014
It’s difficult to quantify the impact that the introduction of PayPal would have on the New Jersey market, which has been hampered by payment processing issues since launch in November of 2013.
A 2013 article from Forbes estimated that the company has over 50 million active users in the US.
PayPal would have the immediate, obvious impact of providing a popular, relatively easy-to-use payment option to the market.
But the company’s entry into New Jersey would also reverberate in any number of positive ways, including:
File under worth noting: PayPal and PokerStars recently inked a deal that allowed American free-play customers to purchase chips on PokerStars.net using PayPal.PayPal Eyeing New Jersey Online Gambling Market, Regulators Confirm Chris Grove