Anyone who’s ever used PayPal to purchase something online will be aware of its speed, safety and convenience. But how does it stack up as a method for depositing and withdrawing to and from online casinos, bookmakers and bingo sites?
Advantages of Using PayPal
Convenient transaction. Few payment methods are as convenient as PayPal. You don’t need to enter your card details to deposit or withdraw, and once you’ve linked your PayPal account, it’s often just a case of entering your password to complete the transaction. You don’t even need to carry a payment card – it’s all handled through your PayPal account.
No fees for depositing. Very few if any casinos demand a fee for allowing you to deposit through PayPal. In reality, most sites that are setup to accept PayPal payments will actually prefer deposits this way to other types of transactions. And they will reflect this in their fees policy, if they have one.
Quick turnarounds on deposit and withdrawal. Because PayPal payments are instant and can be processed in bulk, the turnaround times for deposits and withdrawals through PayPal are usually much shorter than through other payment methods (for more info checkout or fast withdrawal casinos page). That means when you’re itching to play and you’re depositing into your account, you won’t have to wait days to get going. The same goes for withdrawals, which are often instantaneous, (after the pending withdrawal period has passed).
Disadvantages of Using PayPal
Transaction fees. Depending on where you live and the type of transaction you’re processing with PayPal, you may be liable for fees on amounts you receive as withdrawals. These are the cost of using PayPal, and are often set at a higher rate than fees for comparable e-wallets.
Not universally accepted. As a general rule, PayPal doesn’t support gambling transactions. However, because the U.K is a fully legal market for online gaming it allows U.K facing gaming sites to use PayPal as a depositing and withdrawal method. If you have a PayPal account with a non UK address, set up outside of the UK then you could encounter problems in using PayPal at a UK casino or betting site. For UK nationals there won’t be any such problems.
Exchange rates. PayPal applies currency exchange at PayPal retail rates, often offering a worse deal for customers playing across different currencies. Depending on your base currency and the currency you are depositing or withdrawing in, this can be a factor to bear in mind when weighing up the costs.
|Convenient to use||Possible withdrawal transaction fees|
|No casino depositing fees ||Not accepted by every gambling site|
|Quick turn-arounds on deposits and withdrawals ||Poor currency exchange rates|
How To Check for a PayPal Casino
Checking whether a casino, bingo or betting site accepts PayPal as a depositing method is simple. There are 3 main ways you can check
1. On our recommended list: the above recommended list shows all the sites that accept PayPal. When we review a site we rigorously check each site’s payment methods. If they accept PayPal then they will be on the list above
2. From the site’s footer: Most online gaming site’s whether casino, bingo or bookie follow a certain design template and they will feature the main payment methods they offer by showing small logos of the payment methods on their homepage footer
3. From the banking section: If the site doesn’t show logos for their accepting payment methods then you can go to the banking or payments page normally signposted from the homepage where the site will show whether it accepts PayPal or not
Depositing Process at an Online Casino
The depositing process at an online gaming site whether casino, sports betting site or bingo room is very simple. It will generally require 5 or even less actions. Whilst the process will differ from site to site it generally involves going to your chosen casino or betting site’s banking or deposits section, choosing PayPal, entering your PayPal address and then entering the amount you want to deposit on the PayPal site itself.
Is It Safe To Use PayPal?
PayPal is a very safe mechanism for depositing and withdrawing from your casino account. PayPal has sophisticated fraud and theft protection measures in place, and even goes the extra mile with services like arbitration. That means that if you’re in a position where you feel you’ve been scammed, you have third party recourse to PayPal, who can investigate, and refund money when your case is upheld. This gives that added peace of mind for those players that want to use PayPal, who can play safe in the knowledge their funds are protected.
PayPal also maintains a separation between your payment details and the site you’re using. You only have to enter your associated email to the gambling site, everything else is between you and PayPal.
PayPal generally errs on the side of caution with regards to suspicious behavior so log-ins from many different countries etc may see your account frozen but a quick call to customer support can quickly get your account back on the go
History of PayPal
PayPal has been around since 1998, a lifetime in terms of the Internet. The initial scope of the company, then known as Confinity, was to establish a secure framework for devices like phones and tablets. PayPal was born as a spin-off from these efforts, and quickly grew to become the leading payment processor for online transactions.
PayPal was bought by eBay in 2002, in a phase of growth that would see the company rise to prominence among eBay customers and a wider consumer audience. By 2014, PayPal was already accounting for almost half of eBay’s profits, and it was spun off into a separate company in 2015 to focus on the next leg of its development.
PayPal continues to win fans among those who enjoy playing at online casinos, betting sites and online bingo rooms. It’s convenient, secure and is already many people’s first choice for online transactions. The table on this page is kept up to date with the best UK-licensed gambling sites that accept PayPal.