Online payments processor PayPal says it no longer will protect gambling payments it processes for clients in the U.S., Canada, and Brazil.
PayPal says it’s amending its user agreements and protection policy to reflect the new changes. It also will amend its dispute resolution process to reflect its new policy of not protecting gambling-related transactions in the three countries.
PayPal says it will make similar changes to its crowdfunding transaction-processing policies. PayPal says crowdfunding, like gambling, involves a risk with no guarantee of a return.
Likewise, PayPal says it will make such changes to any payments processed involving “gambling, gaming and/or any other activity with an entry fee and a prize.”
PayPal last year began processing payments made to WSOP.com and through the online poker site’s Nevada and New Jersey operations.
PayPal says it began processing payments for WSOP.com in order to support legitimate online gaming operators. PayPal also processes payments for daily fantasy sports operators.
PayPal at one time was the largest processor of online gambling payments in the U.S., but its 2003 merger with eBay ended its gambling processing agreements.
