More Good News For U.S. Online Casino Fans
Added: Aug. 25, 2014
As you already know, online gambling and online casino action in the United States is still a hit and miss type of affair. On the one hand, there are three states, Nevada, New Jersey and Delaware that have already authorized and set up some form of online gambling for their residents. Additionally, other states such as Pennsylvania and California, to name a few are actively debating the topic in their respective State legislatures.
Yet even with all of that, the average United States online casino player still faces hurdles and obstacles to enjoying online gambling. You may not know that the major credit card brands of MasterCard and Visa don’t necessarily endorse online gambling. In fact, up to 25% of attempted credit card transactions at legally authorized online casinos in the United States are declined.
That’s right, declined. And not for lack of funds, mind you. Nope, this is all about MasterCard and Visa covering their “assets”. Some issuing banks point to the federal ban for online gambling and outright refuse to play along.
Yet, that may not even matter much longer. As it often happens, when one door closes, another one opens up. You have heard of the payment processor named PayPal have you not? Well, although it cannot in fact be confirmed as of yet, there is mounting evidence that PayPal is about to change the game.
You see, PayPal is a recognized payment processor used by people all over the world. If and when PayPal enters the United States online gambling market, this will shift the whole conversation. Consider, PayPal is a trusted name that will process the payments from both the online casino and the online casino player without any hassles. How ab out that as a game changer?
You probably know that most PayPal transactions are immediate. Unlike getting paid with a credit card where it may take up to 48 hours for the money to show up, for the most part, PayPal transactions are processed in real time.
There’s more. As of now, it is estimated that PayPal processes transactions for around 150 million people around the globe. Because of this, PayPal has built up a solid payment processing system with extraordinarily tight security.
All in all, it looks like a win win situation for everyone involved. The U.S. casino player benefits from a trusted payment processor. The authorized online casinos benefit from offering a payment system that everyone knows and trusts. And of course, PayPal benefits from it’s transaction fees.