Before the anti gambling laws were passed in 2006 the online processor had quite a share in the amount of transaction that go through the online gambling industry, but was forced to back out when Ebay purchased the company, and anti gambling laws were put in place in the US.
In Europe the online processor has already started and is handling transaction for the famous Ladbrokes casino along with the legendary William Hill casinos.
Before 2006, Paypal was only one of a few online wallets, but this time the processing giant may be in for stiffer competition, as many alternatives exist and they are all lining up, and getting ready to jump on the US market, should the gambling laws change, in the way they expect it to.
Representative Barney Frank, is pushing hard for changes to the law, and after advancing it in the House Finance Committee, it looks like the wheels have started to turn.
Posted on: August 3, 2010
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