32 Red have added Paypal to their list of deposit methods after passing the payment processor's stringent criteria.
The well known virtual wallet service used to be the deposit method of choice for thousands of players and was accepted at most online casinos. But legal action by the US Department of Justice, and an eventual $10 million settlement for involvement in online gambling related payment processing for US following residents, Paypal beat a hasting retreat from the industry altogether in 2006.
Now they are slowly re-entering the lucrative industry, but only where assured that relevant operators do not accept US player accounts. In all, some 70 European facing operators have added Paypal as a deposit option in the last few months.
After satisfying Paypal's rigorous acceptance criteria, 32 Red are the latest to offer Paypal as a deposit option to its players. 32 Red CEO said that achieving a Paypal approval rating as one of the hardest due diligence processes 32 Red had been subjected to.
He also opined that the European Union directive on money laundering and the new UK Gambling Act have provided the regulatory assurance necessary for Paypal to be more comfortable to re-enter the online gambling industry.
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