32Red Casino, the award winning online casino site that works off the
Microgaming software platform, has announced that it now supports Paypal as a
banking method. As such, players can now use this convenient and globally
accepted method to fund their accounts for real money play.
32Red had to go through a stringent approval process before it could join a
handful of other gaming giants, including Paddy Power and 888, who support
Paypal as a banking method.
"This isn't something that every operator can get their hands on because the
due diligence process is pretty stringent," remarked the Operators Director at
32Red, Pat Harrison. "Getting approved was one of the most onerous pieces of due
diligence that our business has ever been through."
After Paypal was purchased by eBay in 2002, the online payment giant stopped
accepting transactions resulting from egaming, fearing reprisals from the US
government who passed laws restricting online gambling in the country.
Paypal was eventually forced to pay authorities over $10 million in fines in
order to settle against charges that the group served the online gambling
industry.
However, over the years, Paypal has quietly started linking up with online
gambling operators once more and today it is believed that it serves up to 75 of
these sites.
"I don't know where the caution came from but I think it was the company
being mindful of American regulation," noted Harrison. "But I believe the UK
Gambling Act and the European Union directive on money laundering has acted as a
security blanket, and that PayPal is far more open to gaming companies than it
used to be."
