PayPal lays down new rules for Esports

Esports Asia News
According to a report by Dexerto, Paypal has started to take action against esports tournament platforms moving sums of money via the service. With all of the recent press around gambling, Paypal has begun to demand that these tournament platforms provide them with legal documentation wherever they operate that they are not, in fact, gambling websites. Reportedly, a number of tournament organizers have been contacted, with Gfinity being among the first companies to switch from Paypal. According to Dexerto, Gfinity would’ve been required to contact lawyers in 25 countries and all 50 US states in order to be greenlit on Paypal again. This process was deemed far too costly for Gfinity to undertake, not to mention the amount of time that would’ve been required. Paypal is even going so far as to freeze the funds in non-compliant accounts after a set period, so it was even more imperative that Gfinity switched. More organizers, especially smaller tournament websites, should be expected to follow suit. With the eye of the press turned onto the issue of the unregulated nature of esports (and esports gambling), it’s no surprise that things like this have begun to happen. This is only the beginning.

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