|Thursday, April 27, 2006|
|Online payment company to block illegal betting transactions in US|
Online payment company PayPal, part of auction company eBay, gave its support to the proposed US Internet Gambling Prohibition Act.
According to a report in iGaming News, PayPal supports initiatives to combat illegal Internet gambling in the United States and calls for law enforcement authorities to prosecute citizens who participate in illegal gambling.
In contrast to the US, PayPal does take payments for online betting through Betfair and Ladbrokes in European countries, including from those countries where this is forbidden. PayPal’s position seems therefore opportunistic and inspired by the fact that it already paid a fine in the US for taking betting transactions.
In most European countries, law enforcement authorities do not act against payment companies that get involved in illegal betting transactions.