According to a report from Chris Grove, PayPalcould be eyeing regulated US online gambling. The easy-to-use online e-wallet that’s accepted by a variety of internet- and land-based retailers “plans to announce a foray into processing regulated online gambling payments in the coming months, according to a source with knowledge of the company’s plans.”

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Grove, who writes for OnlinePokerReport, added, “There’s no official word yet, but the source indicated to OPR that PayPal is set to start by working with a handful of select regulated operators. We do know that PayPal has been looking at the issue for months. I reached out to several operators, all declined to comment. If accurate, the news could mark a sea change for regulated online gambling in the United States.”

PayPal began seriously considering entering the regulated online gambling industry in March, when Grove Tweeted from the iGaming North America conference, “PayPal has convened a group to report to the PP Board of Directors about whether or not to process legal iGaming transactions.”

PayPal is a monster any way you slice it. The company has 152 million active accounts and performs transactions in 100 currencies. PayPal processes 9.3 million payments every day and its parent company is the well-known online auction site eBay, where it contributes 45% of the parent company’s gross revenues.

PayPal’s corporate headquarters are in San Jose, California and its worldwide operations are based out of Nebraska. Last December, word broke that PayPal was sharing information with the UB-related Iovation.

PayPal already provides payment services for non-US online poker sites like PokerStars. According to PokerStars’ website (pictured), players from the UK and Ireland can utilize PayPal to deposit, which can be done via a major credit card. 888 Poker, another major non-US online poker site, accepts PayPal for deposits for customers from Germany, Spain, UK, Ireland, Italy, Portugal, Finland, Denmark, Austria, and Sweden.

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