{"id":205,"date":"2024-06-18T14:58:49","date_gmt":"2024-06-18T11:58:49","guid":{"rendered":"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/"},"modified":"2024-06-20T17:15:17","modified_gmt":"2024-06-20T14:15:17","slug":"paypal-quietly-enters-new-jersey-online-gambling-market","status":"publish","type":"post","link":"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/","title":{"rendered":"PayPal Quietly Enters New Jersey Online Gambling Market"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/C93W_-cDxmY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The reemergence of PayPal in the American internet gaming sector has caused quite a stir. This development is viewed by many as a pivotal moment for lawful online wagering in the US, potentially even eclipsing the significance of New Jersey&#8217;s legalization in 2013. <\/p>\n<p>The information surfaced discreetly, with industry expert Steve Ruddock initially disclosing it on Online Poker Report (OPR).  Reportedly, WSOP.com, the Nevada-based internet poker platform under the ownership of Caesars Interactive Entertainment (CIE), commenced accepting PayPal deposits in September. Subsequently, it appears that numerous other US online gaming platforms have embraced PayPal. <\/p>\n<p>So, what&#8217;s behind all the buzz? After all, PayPal was operational in the US gaming market prior to the enactment of the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2003. <\/p>\n<p>One factor is PayPal&#8217;s sheer scale. Back in 2013, Forbes indicated that they had over 50 million users in the US alone.  Their return signifies a substantial vote of confidence in the sector. It provides reassurance to players regarding the legitimacy and trustworthiness of these sites, particularly in terms of consumer safeguards.  <\/p>\n<p>Furthermore, there&#8217;s an expectation that offering PayPal will provide regulated operators with a competitive advantage over their unregulated counterparts. It serves as a means to entice players seeking a secure and recognizable payment option. <\/p>\n<p>Essentially, Ruddock&#8217;s fascination with this narrative stems from the sheer magnitude and importance of PayPal. Established in 1998, PayPal was purchased by eBay in 2002 for a staggering $1.5 billion. Their separation last year even impacted eBay&#8217;s market capitalization. PayPal boasts more than 173 million users worldwide, and their earnings for 2014 (the latest annual figures accessible when the initial article was published) reached a substantial $12.7 billion.<\/p>\n<p>The collaboration between CIE and PayPal encompasses all of CIE&#8217;s digital platforms in New Jersey, including major players like CaesarsCasino.com, HarrahsCasino.com, and WSOP.com. Notably, 888, which operates its New Jersey online casino and poker platform in conjunction with CIE, prominently features the PayPal logo as a transaction method.<\/p>\n<p>Imagine PayPal&#8217;s foray into New Jersey&#8217;s online gaming realm as a student discreetly slipping into the rear of a lecture hall after a late evening, hoping their delayed arrival went unnoticed. While PayPal hasn&#8217;t exactly been broadcasting this development widely, there&#8217;s probably a sense of relief internally. The gears have been turning for some time \u2013 as far back as August 2014, rumors circulated about PayPal testing the waters of regulated online gambling payments. <\/p>\n<p>Although the excitement around PayPal&#8217;s foray into the New Jersey internet gaming sector is palpable, it may not be the groundbreaking shift some, such as Steve Ruddock, perceive it to be.  It appears CIE discreetly introduced PayPal as a payment choice on their system some time ago.  They opted not to issue a formal announcement, a decision seemingly consistent with their typical approach.<\/p>\n<p>Ruddock&#8217;s astonishment seems to originate from this absence of publicity. He emphasized the weight of this action in a discussion, implying that eBay&#8217;s split from PayPal could have facilitated this policy adjustment. His reaction is comprehensible, considering PayPal&#8217;s longstanding position against wagering transactions.<\/p>\n<p>Nevertheless, it&#8217;s crucial to recall that PayPal isn&#8217;t the first payment processing leader to test the waters of New Jersey&#8217;s online gaming industry.  MasterCard and Visa, both industry behemoths, are already established payment options across all thirteen real-money gaming sites within the state. Their fiscal performance is telling, with MasterCard reporting a net profit of $9.47 billion in 2014 and Visa declaring an adjusted operating revenue of $90.6 billion for the year concluding September 30, 2015.<\/p>\n<p>Currently, neither CIE nor PayPal has provided a formal declaration concerning this development. <\/p>\n<p>Steve Ladak&#8217;s enthusiasm for PayPal&#8217;s market entrance hasn&#8217;t resonated with everyone. Bill Rini, Director of Online Poker at the World Series of Poker, responded to Ladak&#8217;s statements. &#8220;We hold Steve in high regard, frequently read his work, and share his sentiments, however, he might be slightly overly bullish,&#8221; Rini remarked. &#8220;While we&#8217;re encouraged by PayPal&#8217;s venture into this sector and acknowledge its impact on the broader payment processing landscape, we don&#8217;t perceive it to be as revolutionary as Steve suggests.&#8221;<\/p>\n<p>When reached by Gambling Insider, PayPal opted not to directly address our inquiries but instead furnished a Q&#038;A document crafted for media engagement regarding the announcement. This document disclosed the participation of two additional online horse racing entities, TwinSpires and Derby Jackpot, in the pilot initiative.  Furthermore, within the Q&#038;A, PayPal indicated it wouldn&#8217;t be issuing any pronouncements concerning prospective strategies within the realm of real-money online gambling.<\/p>\n<p>Considering the imminent New Jersey launch of PokerStars, whose parent company Amaya asserts a 68% command of the online poker market as of the initial half of 2015, PayPal&#8217;s influence on the market&#8217;s expansion might not be as crucial as originally presumed. Amaya anticipates a New Jersey rollout within the first six months of this year. Given the potential for a significantly altered market landscape in a year&#8217;s time, it&#8217;s challenging to isolate and evaluate PayPal&#8217;s impact at this juncture. <\/p>\n<p>Without considering PokerStars, the inquiry remains: how might PayPal transform the American digital gaming landscape?  New Jersey, the leader among the three states where wagering real currency online is permitted, amassed a substantial $122.9 million in internet gaming earnings in 2014.  Furthermore, as of now, 2015 hasn&#8217;t witnessed a single month-to-month decrease. By the close of October 2015, they had already reached an impressive $121.6 million.<\/p>\n<p>Since this entire regulated US online market endeavor commenced in 2013, industry rumors have highlighted payment handling as a significant obstacle, a barrier hindering expansion.<\/p>\n<p>One authority, Ruddock, stated frankly: &#8220;The challenges associated with payment processing have significantly restricted the growth of US online gaming providers. In the initial stages of the New Jersey market, credit card acceptance rates were as minimal as 10%.  Over time, it has improved, with success rates currently reaching 60-70%.  One factor contributing to this improvement is the emergence of alternative payment options such as PayNearMe, Neteller, and now PayPal. However, credit cards remain the most prevalent payment method, and unfortunately for the sector, they are also the least dependable.&#8221;<\/p>\n<p>However, it&#8217;s worth noting that not everyone shares the same perspective.  Rini, for instance, minimizes the problem. &#8220;Certainly,&#8221; he acknowledges, &#8220;payment processing issues haven&#8217;t been particularly beneficial.  However, we don&#8217;t believe they are solely responsible for any substantial discrepancies in the market.&#8221; <\/p>\n<p>As you might have seen in this piece, we had the opportunity to interview David Rebuck, the director of New Jersey&#8217;s gambling regulation, about a range of subjects, including transaction processing. Rebuck emphasized the importance of PayPal&#8217;s participation, unlike CIE. He noted: \u201cSecuring PayPal was significant for us. There was this notion \u2013 in the US, before online gaming even commenced in New Jersey \u2013 of financial regulations that led people to believe banks and financial entities didn\u2019t want to be associated with handling payments for online gaming, even if it was lawful. I believe PayPal&#8217;s entry assists that significantly.\u201d<\/p>\n<p>Although we&#8217;ve observed varying viewpoints on the weight of PayPal&#8217;s reemergence into the US online gambling sector, one thing appears clear: the market has made at least one move towards a forward-thinking strategy. As the US continues to adjust to a regulated online wagering landscape, its influence on the market will be captivating to observe.<\/p>\n<p>This article was initially published in the January\/February issue of Gambling Insider. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reemergence of PayPal in the American internet gaming sector has caused quite a stir. This development is viewed by many as a pivotal moment for lawful online wagering in the US, potentially even eclipsing the significance of New Jersey&#8217;s legalization in 2013. The information surfaced discreetly, with industry expert Steve Ruddock initially disclosing it [&hellip;]<\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PayPal Returns to US Online Gaming: Bigger Than 2013?<\/title>\n<meta name=\"description\" content=\"Is PayPal\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PayPal Quietly Enters New Jersey Online Gambling Market\" \/>\n<meta property=\"og:description\" content=\"Is PayPal\" \/>\n<meta property=\"og:url\" content=\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Stay on the Cutting Edge of Casino Entertainment | Licensed Games\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-18T11:58:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T14:15:17+00:00\" \/>\n<meta name=\"author\" content=\"Aria &quot;Athena&quot; Hale\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aria &quot;Athena&quot; Hale\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/\",\"url\":\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/\",\"name\":\"PayPal Returns to US Online Gaming: Bigger Than 2013?\",\"isPartOf\":{\"@id\":\"https:\/\/comicplaynodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-18T11:58:49+00:00\",\"dateModified\":\"2024-06-20T14:15:17+00:00\",\"author\":{\"@id\":\"https:\/\/comicplaynodepositbonus.icu\/#\/schema\/person\/6d4d9e4cbef0bf5e7ec65780c306af67\"},\"description\":\"Is PayPal\",\"breadcrumb\":{\"@id\":\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/comicplaynodepositbonus.icu\/2024\/06\/18\/paypal-quietly-enters-new-jersey-online-gambling-market\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/comicplaynodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PayPal Quietly Enters New Jersey Online Gambling Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/comicplaynodepositbonus.icu\/#website\",\"url\":\"https:\/\/comicplaynodepositbonus.icu\/\",\"name\":\"Stay on the Cutting Edge of Casino Entertainment | Licensed Games\",\"description\":\"Unlock the secrets of casino success with our regularly updated news, comprehensive reviews, and expert articles. 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