No More Online Gambling Via Gold-Pay

February 8th, 2011
Back No More Online Gambling Via Gold-Pay

The processor withdraws from the industry

This week brought some bad news for online punters in the United States, with reports that payment method Gold-Pay has closed its doors to online gambling. After the shutdown of eWalletXpress, this seems to be another heavy blow brought by the US authorities against online gambling.

At the end of last week, Gold-Pay started sending out emails to its users, in which it stated:

"Recently, as a result of pending legal matters, Gold-Pay was forced to suspend all gaming related transactions.

"We do not have a timeline for when those issues will be resolved or what the outcome will be.

"We do apologize for this disruption in our operations and we know this is both unexpected and unfortunate for everyone involved. You may continue to access your account but no account activity will be possible until the legal issues have been resolved."

This payment processor was launched in May 2010, and it works on the principle of virtual gold purchasing. In return, the gold can be used to trade for goods and services, which until now included online gambling..

The news of Gold-Pay’s withdrawal from the industry caught players by surprise, and in their attempt to communicate with the company and find out what is going on, they encountered silence. Even the Gold-Pay officials refused to comment, which incited speculation that the processor may have been pushed to such move by the US federal authorities in the Department of Justice’s campaign against financial channels used by American online punters.

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