PayPal is the leading payment option in the digital wallet that has been around since 1998. This company has dominated global business and is available in more than 200 countries. In fact, the success of PayPal started in 2002 when it was acquired by eBay and today, this great firm can support over 100 currencies. Since PayPal is reputed to be safe and secure, PayPal protects each of its customer by applying selected approaches.
One of its policies is prohibiting transactions in high-risk countries. The company also bans gambling transactions where the activity is illegal, as well as transactions from gambling operators and account holders in U.S. states where gambling is legally prohibited. What are these gambling activities that PayPal forbids?
Which gambling activities are prohibited by PayPal?
Unless the merchants are approved by PayPal, this payment service bans the gambling activities specified below.
Businesses Related to Gambling
PayPal may forbid transactions related to gambling, including any gambling service that offers tips and instructions bundled with gambling and handicapping. It is also the same case with ventures that use intermediaries to hold gambling licenses or ease the process of placing bets — also included are places that arrange or organize forums that facilitate betting between people.
Casino games, including games of chance and games of skills, are also banned by PayPal in jurisdictions in which gambling is illegal. This includes both in-person and virtual casinos. However, sometimes you can even find and compare PayPal casinos in New Zealand that are licensed by authorities, so they can accept PayPal payments. Games that can be played in both brick and mortar and online casinos include slot machines, blackjack, poker, baccarat, roulette, craps, pai gow, faro, pachinko, wheel of fortune, sic bo and keno.
Games of Chance and Games of Skill
A game of chance is a game that doesn’t require any particular ability on your part, but can still allow you to win prizes. This means that the game has no control over the result so it depends on randomness to determine victory. Some popular games of pure chance include casino games like slots, baccarat, roulette and more.
As for the games of skill, rather than chance, the outcome is determined mainly by skills (physical or mental). Some of the well-known games of skill include card games like blackjack, video poker and others.
Sports Betting and Horse racing
As sports betting or sportsbooks have existed for a long time, it is not surprising that this kind of activity has expanded globally. Bookmakers allow the punter to wager on various sports competitions including horse racing.
This activity has a huge number of spectators and has attracted so many bettors. Apart from sports betting, horse racing and individual wagering are also not approved by PayPal. The horse racing prohibited by PayPal includes types of races that involve betting between bettors, sweepstakes gambling, pari-mutuel betting, off-track betting or off-course betting (OTB), and bookmaking betting.
A lottery is also an old form of gambling approved by some governments. PayPal also bans this kind of activity including the sale and purchase of sweepstakes. Other forms of the game involving the distribution of money and other prizes are prohibited as well.
Today, gaming machines, devices created for playing any game of chance, are everywhere, permitting people to try their luck at any time. Any machine that a player can use to lose or win money is considered to be a banned gaming machine.
PayPal is a renowned e-wallet that has been offering its service for many years. Known to be simple, safe and secure, this great firm allows every gambling activity except for residents of U.S. (with a few small exceptions). Nonetheless, the firm is very strict in approving the transactions of the gambling operators.