PayPal casino sites are expected to gain momentum as PayPal itself continues growing.
The company’s stocks are sky-rocketing at an enviable rate these days. All of this is thanks to the many new features and services PayPal has introduced in the recent years.
The latest of these new features is a P2P update for PayPal app that was launched on 23 August 2018. This has changed the app to favour user personalization and peer-to-peer payments.
The full effect of this improvement is yet to be seen, but things are looking pretty good for PayPal.
How PayPal Casino Sites Are Involved
PayPal has a strict policy regarding gambling, which they see as a risky business. Therefore, to be able to use PayPal payments for gambling, each casino operator needs individual approval from PayPal.
Here’s what they say about gambling in their policy:
PayPal prohibits [gambling] activities, even where the specific activity is lawful and/or is not legally defined as gambling, unless the transactions are associated with an approved merchant.
This has led PayPal casino sites to become less widespread than casinos with other payment options.
However, it doesn’t change the fact that more than 240 million people use PayPal. It’s an easy and safe method or transferring funds, which is perfect for online gambling.
The bottom line is:
As PayPal increases its volume, their services will become more attractive than ever. Most importantly, this concerns PayPal casino online deposits and withdrawals as well as e-commerce and P2P payments.
PayPal’s Growth in 2018
PayPal casinos are a small part of this business, yet it’s the current leader in the online payments market. Just take a look at their statistics and see for yourself:
- PayPal shares have increased by 25 per cent this year and reached the all-time high
- PayPal, Venmo and Xoom (all PayPal services) had over 40 million downloads over the last four quarters
- 600,000 daily users used the PayPal app in the second quarter of 2018; that is a double of what its competitors achieved
- PayPal shares and revenue surpassed most expectations of the industry experts
What’s more, they don’t seem to be stopping now and the company plans to grow even further.
Venmo’s Success and P2P Update
Venmo, the main P2P app in the US, is in large part responsible for this success. It is run by PayPal and it has succeeded in the peer-to-peer payments niche, attracting millions of Americans.
Plus, PayPal has monetized the app in 2017. As a result, it is now as valuable an asset to the company as the main PayPal app itself.
Then, the P2P update came on the aforementioned PayPal app. While you could make person-to-person payments with it before, it is now easier to do than ever.
PayPal For All Online Transactions
So, we will undoubtedly see a rise in the popularity of PayPal in all markets. It makes sense because the company is offering a united platform for all kinds of transactions. Users will be able to do loads of operations using one single method, such as:
- Buy items and services
- Send money to friends
- Donate cash
- And more
This means only one thing:
Although these updates and changes don’t concern PayPal casino sites directly, the gambling industry will still feel the change. There have always been many good reasons to play at PayPal casinos.
However, they will be even more alluring now as our life without PayPal is becoming unimaginable.
So why gamble elsewhere when PayPal has got you covered in the casino world as well?