German Online Casino Players Can No Longer Use PayPal
German Market Regulations
Currently, the German online gambling market is in the process of reorganisation. This process has been going on for years and there have been some setbacks that made it slow down. The state of Schleswig-Holstein is the only region in Germany where online casino gambling is legal. Active licenses for internet gambling will not expire until mid-2021. At that point, the authorities have hopes that a permanent gambling regulatory framework will have been established. According to several sources, approximately half a year ago, the German State of Lower Saxony issued an order to an unidentified payment services provider, urging it to immediately cease cooperation with any internationally licensed online gambling operators catering to German customers. Speculations indicate that the affected electronic payment processor could be PayPal, but there haven’t been any confirmations yet.
PayPal has been around since 1998, and it is known as one of the pioneers in the sector of online payments. The company has grown into one of the largest services for sending and receiving money over the internet. The brand counts on around 200 million active account holders in over 200 countries around the world. By merely providing their email address and an accompanying password, PayPal users can easily transfer funds to their online casino accounts or convert their mobile phones into e-wallets by using the system’s mobile app.