Paypal is arguably among the most popular online casino payment methods to date. The American company was first launched in 1998 and four years later, in 2002, when it had its IPO, it became a subsidiary of eBay. Since then, Paypal has been growing and expanding, until finally, in 2015, the company became independent.
PayPal payment provider offers its services across the world, which is part of the secret to its success and one of the reasons why this is the payment method of choice for a very large number of individuals and businesses. To be completely precise, the service is available in 202 countries.
Furthermore, you may choose to have your account with one of 25 different currencies. Once you access the website, make sure to choose from the list of carefully sorted countries.
Licensing is different for this particular payment provider, depending on the different country. For example, in the USA Paypal is not considered a bank, but a money transmitter. Within the European Union, however, it has a banking license. But that wasn’t until 2007, before that it was licensed as an Electronic Money Issuer with the UK’s FSA.
As it is with most payment providers, Paypal stresses on security. The provider monitors each and every transaction, 24/7, and ensures the safety of its users with the help of next-level encryption technologies. In addition, the company also boasts of its refunds and chargeback policies.
PayPal for Beginners
If you look at the electronic wallet market on a global scale and not just in the online gambling industry as a payment method, then PayPal is likely to be the largest company in the game.
PayPal is a pretty standard electronic wallet in the sense that you have a virtual account with a username and password that you can fund and use for purchases. This allows you to put virtual “space” between your funding method and the casino itself, and that’s something that gives a lot of players a lot of peace of mind.
However, because PayPal puts a lot of restrictions on which countries can use their services to fund online gambling services, they aren’t as popular in this particular sector.
With that having been said, for people who can use PayPal, it’s one of the best available payment methods, and they have a lot of casino payment options to help you protect your personal details and financial information with reasonable fees.
PayPal also makes it easier to keep your casino bankroll separate from the rest of your accounts, something that’s useful for people who prefer to keep their recreational gambling money from being mixed in with the rest of their money and payment methods.
Using the Service
Paypal is fairly easy to set up, which is also another appealing trait. All you need to do is have an active email address to register with. That’s all. You can register from the main site, which is also where you will be logging in after that.
PayPal users can set up a personal account or a business account. By choosing the former, you will then need to enter your country of residence, email address and come up with a password.
Once you have opened your PayPal account, you can then proceed to link your account to either a credit card or a bank account. This will also depend on your location, as some countries will not offer the PayPal option of linking your bank account directly. In most cases outside the USA, you will need to settle for a credit card or debit card.
Following this, you can use Paypal to top up your account, send money to other Paypal users, purchase goods and services via various online platforms, etc.
Paypal is also great for vendors, because you can actually use this provider to request payments for something you’ve sold. What’s more, Paypal is also keeping up with the times and offer users to make payments with their fingertips. You can purchase products and pay for services just as easily from the comfort of your smartphone or other portable device.
However, there are certain fees to consider for some of the services. For example, transferring money via Paypal to your credit or debit card may cost you a certain percentage of the total sum. But if you choose to make personal transfers from your Paypal balance to another Paypal account, you can do this free of charge.
Online Casinos that accept Paypal
Though Paypal isn’t quite as common on online casino platforms, there are still a number of different casinos that offers it as a payment method. If you would like to use Paypal as a deposit method, check out Slotcrazy, for example. Other online casinos with PayPal you can try include 888casino, Spinzilla and Wildjackpots.
Make sure to check the separate PayPal withdrawal and deposit limits, as well as the processing time for each of those separate casinos, though. Note that each of them may or may not charge fees for the transactions, so check the respective sections.
Funding your PayPal account can be done with a direct debit from your banking account or a credit/debit card. The fee is generally 2.9 percent plus $0.30 for every transaction depositing to your account, but you can often avoid this if you go straight from your bank account instead.
Transferring funds from your account to the casino with PayPal is almost always free, but receiving funds back into your account from the casino can be subject to fees that depend on the countries involved and if there are any currency exchanges.
PayPal’s charges are often variable to a degree and are subject to minimums, but it’s typically in the range of 2.9 percent to 6 percent if it’s for a transaction from outside of your country.
The PayPal Card
Like many electronic wallets these days, PayPal offers a MasterCard-backed debit card that connects directly to your account. There are no fees for using this card for purchases normally, but there can be fees for withdrawals from an ATM.
It really depends on a lot of factors like where you’re located, and this is on top of other fees that might come from the ATM or bank that you use that PayPal isn’t really in charge off.
In terms of avoiding fees as much as possible, it’s often just better for most players to simply request that the funds be sent straight to your bank account from your PayPal account.
Pros/Cons of Using PayPal Casinos
- PayPal is safe. Encryption services are used to protect customer details at all times. Their servers check your browser to determine whether or not you are using the latest encryption technology. Even if PayPal’s public-facing servers are hacked, your details are protected with the highest level of protection.
- Freedom of choosing from a large variety of currencies, which may also come in handy. What’s more, the protection and refund guarantees that the PayPal site offers are also something to consider. This way you can make sure that you won’t fall victim to scam or other malpractices.
- Using PayPal is a breeze. It’s so simple to play online casino games and place bets via this payment service. You don’t need to fill out any elaborate forms and extensive personal detail to set up an account. All you need is a name and an email address.
- It’s anonymous. Your financial details will never be shared with the online casino you’re playing at – just log in via your PayPal email address and password and the transfer is completed without having to share payment details.
- It’s fast! PayPal offers the fastest processing times when it comes to withdrawals. You can count on instant transactions within Paypal.
- You can use this payment method from your phone or tablet, making transactions even simpler. You can also have a balance on Paypal, so that you will not be subject to charges for transfers.
- Not all gambling platforms allow PayPal e-wallet service.
- A handful of operators charge fees.
- You might need to send details to the PayPal company, so in that sense, there is no chance for anonymity. That could qualify as a disadvantage, especially in the world of online gaming.
Which Online Casinos Accept PayPal? – Best 2021 PayPal Casinos:
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PayPal Casinos FAQ:
How to Open a PayPal Account?
Opening a PayPal account is simple and more importantly free. A personal account allows you to shop safely in millions of online shops, receive money, pay back friends and family or play at online casinos. Details about you will need to be provided first; just the basics. Once done, you’ll be promoted to link your PayPal account with your bank account or bank card. Instantly, a small deposit via PayPal will be made into your bank. This amount will have a four-digit code which you will need to insert into your newly created account. Once confirmed, you’re good to go.
How to Deposit at PayPal Casinos?
Just like making a deposit with a debit card, head to the cashier to initiate a deposit. Choose PayPal as your deposit method and insert the amount you wish to spend. You will be navigated away from the casino while you authorise this banking transaction. Insert your PayPal email address and password and complete the deposit. When done, the amount you wish to play wit will instantly be credited to your casino bankroll.
How to Withdraw from PayPal Casinos?
Making withdrawals via PayPal is exactly like making a withdrawal any other way. Make sure to choose the amount you wish to cash-out within the cashier and hey-presto. The funds will be sent for processing. Did you know that withdrawals via PayPal are the quickest to process? Taking on average just 24-hours.
Is it Legal to Gamble with PayPal?
Yes. PayPal is a legitimate and legal way to play online casino game.
How Much Will I Get Charged for Using PayPal?
That depends. When making a withdrawal, PayPal fees are usually free, but this will depend on the online casino. BGO for example, charge a fee for depositing but no fee for making a withdrawal. Fees will be shown in the cashier for this payment method.
Mobile PayPal Casinos
Nowadays, all online casinos offer a mobile platform. A more convenient way to play your favourite selection of games, but can you use PayPal via mobile casinos? Yes, you can. Whether you play directly via your browser or download the free app, the cashier will always be the same. BGO Casino is a popular mobile casino with a free app, however, there are fees when it comes to popping cash into your bankroll.
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There’s no denying that PayPal is probably the largest electronic wallet in the world, but they’re not open to online gambling transactions for every jurisdiction. If they were to open things up in this regard, they could probably take over a pretty huge segment of the market in a relatively short period of time because of how well-known they are for everything else they do.
Overall, using PayPal for online casinos is a good option if you already have an online casino in mind that accepts it.
However, if you don’t, then you might find that the number of sites accepting PayPal is somewhat limited, and that can make it a little frustrating to find a site that has the games and promotions that you want.