Major news broke on Thursday regarding a new online poker payment provider in the United States.
Popular industry media outlet iGaming Business broke the story on Thursday that Caesars Interactive Entertainment will now offer PayPal as a deposit method for WSOP.com in Nevada.
This is huge news for the legal iPoker community as options for iPoker deposits have been limited due to some banks refusing to recognize iPoker regulation. PayPal gives players a safe and secure third-party provider that's guaranteed to work.
PayPal Most Popular E-Wallet in the World
Most of us either have heard about PayPal or already use it. PayPal is the most popular e-wallet provider on the planet, allowing users to send and receive money just about anywhere.
The great thing about PayPal over other deposit options is that it can be fully integrated with your checking or savings account. You can fund your account from your bank account as well as make withdrawals to the same.
PayPal also offers users a debit MasterCard they can use to make purchases and even ATM withdrawals. That program currently offers a 1% cash back on debit purchases made each month.
Players Can Deposit up to $30,000 Daily
Anyone playing on WSOP.com in Nevada will have the option to deposit as little as $10 via PayPal all the way up to $30,000 daily. Individual deposits will be limited to $5,000 at a time with a total daily cap of $30,000.
Players wishing to make a deposit via PayPal on WSOP.com will need to login to the client and select Cashier. Once there, select PayPal and the PayPal checkout page will open.
Login to your PayPal account, make your payment and funds will appear on WSOP.com. You can use funds from you PayPal balance or from your linked bank account.
Fantastic News for Industry and Great Selling Point for California
This is an important development in iPoker payment processing as players now have a virtual e-Wallet that's almost universal. Most players already have an account or can register for one in mere minutes.
While WSOP NV will be the only site to use PayPal at the onset expect this option to expand to WSOP NJ, 888 Poker NJ and Delaware Poker in the near future.
With WSOP.com already offering PayPal expect other online poker sites to explore this option and make it available in the near future.
Finally, this is great news for online poker sites in California. This gives players an additional trusted resource to fund their online poker accounts in California and one that regulators will surely have no problem recognizing as safe and secure.