PayPal is one of the most popular ways to deposit and withdraw at online betting sites. The easiest way to deposit to a bookmaker, casino or poker room by PayPal is through an existing balance. This can be received through a transfer from a friend or a sale over the internet at an auction site such. From the casino’s point of view, PayPal puts hurdles in their path but it’s a solid trust sign from the user’s point of view. How To Use Paypal At Online Casinos. Opening a PayPal account is a straightforward affair. All you need to get going is a valid email address.
In terms of both convenience and security when it comes to online gambling there aren’t any better choices than PayPal. It allows you to quickly and easily fund and withdraw from your account and in the process you’re protected by the many security features PayPal has to offer.
Best PayPal Betting Sites: Top 9
The following is a list of the best sites for betting with PayPal:
- #1
- #2
- #3
- #4
- #5
- #6
- #7
- #8
- #9
*Info accurate as of 15-01-2020 for the UK market.
PayPal Betting Sites Compared: Limits & Fees
| Bookmaker | Min | Deposits | Withdrawals | Fees |
|---|---|---|---|---|
| Betvictor | £10 | Instant | 1-3 days | 0% |
| Coral | £5 | Instant | 24 hours | 0% |
| William Hill | £5 | Instant | 24 hours | 0% |
| Paddy Power | £10 | Instant | 1-4 hours | 0% |
| 888Sport | £20 | Instant | 2-5 days | 0% |
| Betfred | £10 | Instant | 24 hours | 0% |
| Ladbrokes | £10 | Instant | 6 hours | 0% |
| Unibet | £10 | Instant | 24 hours | 0% |
| Betfair | £5 | Instant | 24 hours | 2% |
| Totesport | £10 | Instant | 1-5 days | 0% |
| Boylesports | £10 | Instant | 1-5 days | 0% |
| Betdaq | £10 | Instant | 1-5 days | 2% |
PayPal is a worldwide e-commerce institution, which allows you to make online money transfers quickly and securely between your PayPal account and the accounts of thousands of merchants and banks worldwide.
PayPal operates by storing money drawn from your checking account, and then allowing you to send the money via online transfer to the merchant of your choosing. Payments are processed quickly, and PayPal saves you the risk of providing your financial details directly to the merchant.
For any readers in North America, please note that PayPal will not process payments to any gambling sites for North American customers. The only way to deposit in a account from a North American PayPal account is by first transferring your money to a third-party, such as another e-wallet.
However, for users in the UK and Europe, PayPal offer a fast, safe, and convenient way to deposit and bet online as well as a quick and easy way to withdraw your winnings.
How to Use PayPal for Gambling
As one of the largest online payment processors, PayPal is widely accepted by online bookies, and many sites even offer a free bet bonus for punters who make their initial deposit via PayPal. Moreover, as PayPal is a fully electronic payment storage option, making a deposit to a bookmaker which accepts PayPal is extremely continent.
To get started with making a deposit via PayPal, you’ll have to first set up and fund the PayPal account. This requires inputting information from your bank account, and funding the PayPal account with a direct deposit from your account. This should show up in the account instantly using most methods.
For greater convenience, you can verify the account with PayPal, which involves essentially proving that the account is yours. This typically involves PayPal making two small deposits in your account, at which time you can verify the amount of the deposits. This will effectively link your bank account with the PayPal account, and allow you to deposit and withdraw money freely to and from the PayPal account. Presently, this is required for all account sending over $500 USD per month.
Once you have the PayPal account up and running, it’s just a matter of selecting it as your payment option, at which point the money will be withdrawn from you PayPal account as if it were bank account.
One of the best features of PayPal is that you can make deposits to your account at any time, and you can also withdraw your winnings at any time. As is standard in the industry if you bet with PayPal, all payments usually process instantly and withdrawals will be processed in 3-5 business days.
PayPal Security & Anonimity
If you’re using PayPal to process online financial transactions, then you are already in a pretty good place in terms of security. Specific security features aside, it is always a good idea, especially for the more security-minded among us, to use a third-party payment processor. This saves you from sharing your credit card or bank account details with a wide variety of sources, and instead means that you’re only providing the critical information to one party.
However, PayPal does recognise how critical the safety of your information truly is, and have taken all industry-standard measure to make sure that your information is locked up securely, and that you don’t maintain any liability should the information be compromised.
Please note that PayPal takes their security extremely seriously, and tends to err on the side of caution when dealing with potentially fraudulent activity. Particularly if you travel internationally, or deal with a lot of cross-border transactions, you might be see your account flagged, locked, or frozen with some regularity. This is usually sorted out with a quick call to customer service. It’s better to be safe than sorry.
Finally one of the best things about using any of the Paypal betting sites listed in our table above is the anonymity they provide you. If you deposit with Paypal then your bank statement only shows money in and out of Paypal, not a gambling operator.
History of PayPal
PayPal dates to the late 1990’s and early 2000’s. Although not originally an online payment system, it slowly merged into that as the need and desire for such as system become increasingly evident.
In particular, the popularity of online auction site Ebay.com propelled PayPal into the national spotlight. Although Ebay had its own payment system, the PayPal system was more flexible, as it allowed users to move their money around more freely. As such, PayPal become the online payment option of choice for a variety of websites, Ebay included.
In 2002 it was purchased by Ebay and has been used as the official payment option for all auctions on that site. However, it has also continued to operate as an independent business, and offers customers a convenient and secure method of processing payments online to a wide variety of merchants worldwide. As such, it is an ideal option for making deposits to, and withdrawals from, online bookmakers and since PayPal started to appear the method has grown quickly in popularity to the point where some punters will only use PayPal friendly sites.
Fees Associated with PayPal Deposits
There are two places where you could potential incur fees making a deposit using PayPal; either from the betting site, or from PayPal itself.
Fortunately, the former have essentially eliminated processing fees. I was unable to find any major sites which charges users a fee for placing a deposit via PayPal. However, any site could theoretically change its policy at any time, so always be sure to read the fine print before you commit to anything.
On the other end, PayPal does charge a wide variety of fees for performing different types of transactions. The fees you incur depend on the type of transaction, the type of account you hold with them, the type of payment option utilised, among other factors.
Using PayPal for online gambling in the U.S.
PayPal remained as eBay’s preferred payment processor after it dropped the online gaming business. It returned to the U.S. online gaming market in 2015.
Caesars Entertainment online poker and casino sites accept PayPal. This includes WSOP.com in Nevada and New Jersey, as well as Caesars Casino, Harrah’s Casino and 888 in New Jersey.
There are some restrictions for PayPal transactions for Americans looking to use the eWallet for online gaming purposes. You can only fund these types of accounts using electronic funds or an existing balance. A transfer from another individual counts as an existing balance.
Funds in an American PayPal account that originated from the user’s credit or debit card may not be used to fund an account. This is due to restrictions that many bank card issuers have on gaming transactions, even ones that are specifically legal. U.S. players may withdraw from PayPal by electronic check, check and PayPal debit card.
Using PayPal for online gambling in the UK
The UK was the first market that PayPal returned to for online gaming payment processing.
This started in 2008 with Betfair. The number of sites that accept bets from UK players has exploded since. A PayPal online betting site in the United Kingdom must have a license from the UK Gambling Commission (UKGC) to accept the eWallet. Paypal does not approve or work with unlicensed sites.
Players in the UK may fund a PayPal account using Visa, Mastercard, Solo, Switch, Delta, electronic funds transfers and an existing balance. Withdrawals are processed by check, electroniccheck and PayPal’s debit card.
Using PayPal for online gambling in Canada
PayPal is not available for online poker, casino or sportsbook transactions in Canada.
This is because gaming sites in Canada are not licensed and regulated by the government. That is a requirement for PayPal to process payments. PayPal is still available for transactions related to eBay purchases and other person-to-person transfers.
Benefits of using PayPal for online gaming transactions
PayPal is a fast way to load an online casino, poker, or sports betting account. There are a variety of ways to fund a personal PayPal account.
Casino Sites That Use Paypal Login
Transfers are instantaneous to merchants, including online gaming sites. Deposits made by PayPal rarely require a documentation check as PayPal already does that when creating an account.
Withdrawals are simple with PayPal. Some sites tack on a 2.9 percent fee for withdrawals, although some will cover this cost, depending on local regulations and company policy. You can send cash for free from a PayPal account to a bank. There is a small fee for a check or debit card withdrawal.
Casino Sites That Use Paypal On Amazon
PayPal is the oldest eWallet. This experience shows in its security and software. PayPal security is quick to identify fraudulent logins and transactions. This protects players and their balances.
Drawbacks of using PayPal
Casino Sites That Take Paypal
The 2.9 percent fee for withdrawals in some jurisdictions is the number one complaint about PayPal. Additionaly, there may be a fee in countries where debit and credit cards are used.
PayPal does not offer good customer service. One issue not related to online gaming is the high number of chargebacks eBay sellers report. PayPal rules on the side of the buyer far too often in the eyes of sellers.