Casino Talks

Posted by: scaven at August 7, 2002, 7:57 am

Topic: paypal close early than expected Forum: Winner Online

yup, only sportsbooks, heres the text:

Dear PayPal Customer:

We regret to inform you that, as a result of recent developments in
The legal and regulatory environment relating to online
Sportsbook/sports-betting transactions, PayPal has decided to
Discontinue processing payments for any sports book transactions. We
Wanted to provide you with sufficient notice so that, if you run an
Online sports book, you can make arrangements to transition to other
Payment processors.

We hope you continue to use PayPal to process other transactions.
However, as part of our decision to cease processing sportsbook
Transactions, you will be required to execute the attached
Declaration, which states that you agree not to use the PayPal
system to process payments of any type for sportsbook transactions.
In order for your business to continue using PayPal to process
Payments we must receive your fully executed declaration no later
Than August 15, 2002. If you do not provide an executed
Declaration, your ability to accept payments through PayPal will be
Disallowed on August 28.

The declaration must be filled out and signed by the primary contact
On the PayPal account whether you are involved with sportsbook
Transactions or not. And it must be notarized and sent back to us
Both by fax and by mail. We must receive the fax copy no later than
5 pm PDT on August 15, 2002. The original hard copy must be
Received by mail the following week. Please note that PayPal will
Conduct reviews of your Web site after August 28 to ensure
Compliance with the declaration. Any iolations of the declaration
Will result in immediate restriction of your PayPal account.

We are hopeful that over the next four weeks, if you have been
Handling sports book transactions; you will be able to transition
Your payment processing efficiently.

If you have any questions, please contact your account manager.

Very truly yours,
The PayPal Team

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