New York Gamblers; No More PayPalPublished August 26, 2002 by OCR Editor
New York's Attorney General revealed an arrangement made with PayPal, stating that by Sept.1st it will discontinue its service to New Yorkers who use its service for online gambling purposes.
Late last week Eliot Spitzer, New York's Attorney General, revealed an arrangement made with PayPal, a primary online payment plan service, stating that it will soon discontinue its service to New Yorkers who use its service for online gambling purposes. As the arrangement stands, by September 1st Paypal will stop processing transactions made by New Yorkers for gambling purposes, leaving New Yorkers in a shopping mode after alternative online payment services, who will accept gambling transactions.
The agreement also states that PayPal will allot New York with $200,000 in order to make up for investigative inquiry expenses and fines, as well as taking care of gambling earnings.
Mr. Spitzer laid out the present situation saying, "This case shows that we intend to stop any company who facilitates illegal gambling transactions." As previously publicized, eBay, a leading online auctioneer will buy PayPal towards the end of the year, and will eventually discontinue all it's dealing out's regarding online gambling transactions once the final incorporation is put in place.