PayPal is an online payment system that works over the internet. It allows you to make secure shopping on the internet using various financial sources and send money to the desired person only via an e-mail address. In this context, it is possible to say that it is a reliable alternative to bank transfers. It is now one of the world’s largest electronic wallet solutions and a payment method accepted on tens of thousands of websites. Established in 1998, PayPal (PP for short) has an annual trading volume of approximately $ 8 billion. Known for his Tesla brand cars and innovative ideas, Elon Musk is among its founders.
Centrally located in California, PP is a service that can be used in almost every country in the world. It is estimated that there are now more than 200 million members. PayPal, an innovative financial transaction solution, pioneered the sector in this sense and enabled the establishment of electronic payment infrastructures. Although not technically a bank, it is possible to use almost any service offered by banks with PP. Moreover, transaction fees and commissions are much less. PP is one of the most reliable and easiest to use payment solutions in this context.
Can I Use PayPal for Online Gambling?
Like other sectors, it is also possible to use this payment method for online gambling and enjoy PayPal slots or other games. You can use it to make withdrawals too, not just for deposits. PP is used by almost every online casino out there. The advantages of using PayPal at online casinos are:
- It is a safe method because you do not need to provide your credit card information. This is not the only thing that makes PP safe and secure, quite the opposite. PayPal uses highly encrypted technology in a bid to safeguard your money transactions from miscellaneous activities. To prove this, look out for the technology used to safeguard your transactions by clicking on the padlock icon that appears at the beginning of the address bar.
- Transfers are instant. They happen within seconds, not hours hence players can enjoy their favorite PayPal slots immediately they deposit their funds and have a taste of their wins immediately they land on sweet payouts. Finally, the days when online money transactions were long and tedious are way behind us thanks to this banking option.
- No matter which currency the online casino uses, you can pay with PP in your own currency. Currency conversions will occur automatically.
- You enter your password via the PayPal login screen, not via online casino. So the casino cannot see or record any of your personal and financial information.
- Some casinos offer special bonuses for PP users. One such exceptional site is 888 Casino. Register as a player at this website, deposit cash via this e-banking solution and earn a juicy £30 offer on top of the welcome package offered at 888 Casino.
- The eWallet is compatible with most mobile handsets including Android, IOS, Windows and Blackberry. That means, you can download the PayPal app into your mobile device, a move that will make playing real money slots anywhere you are, a reality.
- You pay lower commission fees than other payment methods. It is, therefore, not surprising that multiple players across the globe are settling for PP as their number one payment option.
- You have the leeway to accumulate funds to a desired amount before making a withdrawal from your online casino account. This translates to maximum utilization of wins acquired from playing PayPal slots or any other casino games in the web.
PayPal is a payment method that you can use in all sectors, and the gambling industry is of course included. There are even casinos that do not accept a payment method other than PP (and similar electronic wallet accounts).
Disadvantages of Using PayPal
Having looked at the advantages that come along with using PayPal at an online gaming website, it is very hard to believe that there are any loopholes attached to this payment option. Even so, all good things have an offside and PP is no exception and now that we are on the same page, let us look at some disadvantages of using PayPal.
- Opening a PP account is fast and easy, we already know that but what you are unfamiliar with is that it takes time to link your Visa( or any other form of credit card) and bank account to your newly opened PayPal account.
- Many sources have made it clear that the primary market of PP is the USA, we cannot argue with that. However, it is illegal for American citizens to use this e-Wallet to partake in online gambling activities. What a bummer!
- Since PayPal is a private company, they enjoy the liberty to freeze your account whenever you violate their policy at any given time without your consent or approval. This can be quite frustrating especially if your account is legitimate since freezing a PP account results to in-access to all the funds in that account.
PayPal Transaction Charges
We did mention that using PayPal incurs lower transaction fees compared to other e-Wallets. This information may be enough to the seasoned casino player out there but very sketchy to any player making their way into the online gambling sector. Keeping that in mind, let us delve deeper into the transaction fees associated with PP especially in the gambling world.
Primarily, it is important to recognize that online casinos will not charge fees for any withdrawals. Withdrawals from any gaming site via PP are free to some extent. Please note it is to some extent for these charges will still be felt by the player for casinos are not philanthropic enough to cover the withdrawal charges required by PayPal. That said, let us look at the charges you will likely incur while using PP.
|Sending Cash||Free/3.4% plus £20 via Credit Cards|
|Cash Withdrawals||3.4% plus £20|
|Deposit cash via Credit Cards||3.4% plus £20|
|Deposit cash via Bank Wire Transfer/Any Other||Free|
|Currency Exchange||3 – 4%|
|Dormant PP Account||Zero fees, account shut down after 3 years of dormancy|
How to Use PayPal in a Casino?
Before we get into the nitty gritty of using this e-Wallet in an online casino, it is critical to understand the process of opening up a PayPal account. And if this is the first time you are getting wind of this information, no need to fret for the process is a walk in the park. For starters, visit https://www.paypal.com/uk/webapps/mpp/home and be part of the PayPal community by filling in a short and straightforward registration form that pops up immediately you click on the ‘Sign Up’ tab. Once you complete the PP account registration, proceed to credit your newly opened account via your preferred banking option including bank wire transfers, Credit/Debit Cards, to mention but a few. The next step is to register into your preferred online casino.
However, if you are a member of a casino, you will have an account page of your own. In this page, there is a section named “deposit/withdraw” options. (Sometimes you may need to use the deposit option to reach the withdrawal option, which is odd, but some casinos do.) This section lists the payment methods you can use. After you select PayPal from among them, enter the amount of money to deposit. In the next step:
- In a separate window, the PP page opens.
- This page belongs to the PP website, not the casino. You are asked to enter your username and password.
- Then you will be asked to choose your preferred payment method. For example, if you add your credit card and bank account to PP, you can choose one.
- On the next screen, you are asked for the amount of money you want to deposit. If everything looks ok, you can authorize the transaction.
- The money will be transferred to the casino account within a few seconds using your preferred payment method.
When you return to your account page, you can see that the money you deposit is available. You can now start playing PayPal online slots and hundreds of other games! In rare cases, depositing money into a casino account can take up to 24 hours. You can do the same thing to withdraw money, but you will not be asked to enter your PP username and password. You are only required to enter your registered e-mail address for withdrawals. The casino will send the money to the account that the e-mail address is registered.
How to Find Casinos That Accept PayPal?
All online casinos announce payment methods they accept. This information is often available on the main page. If you cannot find it on the homepage, you can see it on your account page. If the PP is listed in one of these, it means that it can be used in the casino. Nonetheless, this can be quite exhausting for only a few online gambling sites are affiliated with PP. Why? Not many years back, the electronic banking option withdrew its services from the online casino sector. The decision to cut ties with the gambling sector did not last long for PP has been creating links with various casinos in the web. Since it is difficult to keep up with the websites that accept PayPal, an easier method is to read our online casino reviews. We also evaluate payment methods in our reviews and list them separately. PayPal accepting casinos can also be easily found on our website.
Moreover, since we recommend only the most reliable and prestigious locations, you will not have to worry about security too. If you have not done so, we strongly recommend opening a PayPal account. In this way, you can pay safely and quickly at hundreds of different casinos.