People who enjoy online gambling aren't short of options when it comes to banking methods. PayPal is one of the top-wallets, especially in the UK, but what are the advantages and downsides and is it one of the top 10 best banking methods?
Best 10 PayPal Casinos
Beyond the regular options of debit and credit cards, there are several different deposit and withdrawal options that are offered by the top online casinos, and PayPal is one of them. It was actually called Confinity when first founded way back in 1998, and has come a long way since then. In 2020, it's used in hundreds of countries by hundreds of millions of people. Workers can get paid via the e-wallet, or do their shopping using it. Quick and easy to use, many fans of online gambling already have accounts for other reasons, making it convenient to use PayPal at online casinos as well.
Reliability & Security
There's nothing worse than enjoying a big win only to find your fortune dashed when it comes to lack of security. The most basic elements of security, common to both PayPal and online casinos, are having a strong password and security questions. If you're buying something beyond your usual purchasing habits or using a new device, you may be asked by PayPal for casinos to verify your identity through answering security questions or other means.
PayPal casino players also have the option of enhancing their own security using the system of 2-step verification. Upon every log-in attempt, the player will receive a random 6 digit code which must be entered into either their mobile phone or an authenticator app. Should your details be compromised and someone attempts to use your account, you'll therefore be both alerted to the attempt and be able to prevent it happening, whilst also letting PayPal know there's been a breach. This step is, however, voluntary, so you'll need to set it up. This is done by going into the Settings menu on your account, clicking Security, enabling the 2-step verification and linking your phone/app (as well as setting up a backup method).
Because the e-wallet is so widespread this does give it a degree of robustness, the same way any large firm is inherently more resilient than a smaller one (because if something does go wrong they have a large team to fix it, and a strong desire to avoid adverse publicity damaging the firm's reputation). Generally, PayPal works fine on a day-to-day basis for millions of people, although no system can be said to be infallible.
Pros and Cons at PayPal Casinos
Pros
- Speed - banking methods vary from the very slow (bank wires) to the very fast, and e-wallets, including PayPal, are towards the faster end of the top online spectrum. If you like things quick, this is one of the top 10 best methods to use.
- Deposits and Withdrawals - not every online payment system allows both putting money in and withdrawing it. This can mean only a deposit or withdrawal is permitted for a given method. Generally, PayPal casino funding can be used for both. Some sites only allow depositing, but most of the time you can do both.
- Intermediary Step - whilst casinos tend to have robust security, lots of people feel wary of sharing their bank details online. The intermediary service PayPal provides means that neither bank account nor credit/debit card details have to be shared.
- Low Fees - typically, there are minimal fees imposed when using PayPal at casinos. Occasionally there might be no fees at all.
- Established Brand - PayPal first came about over two decades ago, and is now a massive global giant with the best online reputation to protect. Millions use it on a daily basis without any problems, and if anything does go wrong the firm is big enough to resolve it quickly.
Cons
- Geographical Limitations - PayPal for casinos does allow its service to be used for gambling purposes, but not everywhere. As a general rule of thumb, European casinos are more likely to offer PayPal as a top online method, unlike those in Australia, Canada, and the US.
- Past Cessation - in 2003 the firm was the best largest payment processor for online gambling transactions, but then PayPal voluntarily withdrew from online casinos. The e-wallet returned in 2010, but some wonder if they might depart the scene again.
- Extra Step - withdrawing from PayPal online to your bank account is an extra step that isn't needed if you're using cards or bank transfers. It's usually a few days, but the necessary flipside to your best intermediary service is that it takes a little bit longer to get your winnings in your bank account.
Bonus Offers Reviewed
Players can benefit from a range of great casino bonuses, including PayPal casino promotions that exist to encourage players to use PayPal rather than credit/debit cards (and thus avoid the associated processing fees that comes with Visa, Mastercard and so on). To find out if your online casino offers a top PayPal bonus is very straightforward. Most of the best online gambling sites have a promotions page, where such offers are listed. Be sure to check the terms and conditions as payment methods should be included/excluded explicitly.
How to Deposit
If you've decided to play with real money and use PayPal at the casino then the first thing to do is transfer some money into your account.
- Create a PayPal online casino funding account (if you have one already then just skip ahead to Step 5). Visit the e-wallet's home page and enter your details, including country, name, e-mail address, and password.
- Click next and enter more information, regarding your birth date and nationality. After this you need to confirm your details are correct.
- You'll receive a verification e-mail from PayPal. Simply use the link within to confirm your e-mail address.
- To add cards/bank accounts to your PayPal account, go to the Wallet section of the site. Enter the relevant details, and confirm they're correct. You may need to verify your bank account (PayPal will put 1p, or similar, in your account with a 4 digit code attached. Enter that code in the website and your bank account is verified).
- Pick your casino. If you have one you like already that's great, if not, here are some top 10 best casinos you might like to explore.
- Visit the depositing section of the website (it might be called the cashier section or payment methods).
- Select PayPal from the casino's banking options and choose the amount you want to deposit. Note that you don't actually need that amount in your PayPal account provided it's linked to your bank account (the money will then go from your bank to the e-wallet to the casino). If you have a top choice of currency it's obviously usual to go for the one your country uses, but there might be times you prefer not to do this (international workers might have different currencies in their PayPal account, for example).
- At this stage you will need to enter your PayPal details to authorize the transaction. You may need to enter the 2-step verification code if you enabled this security feature (outlined above).
How to Withdraw
The best part about online gambling is, of course, winning. Once you've gotten some profits to withdraw, the process is quick and easy to shift funds from your casino to PayPal (provided withdrawals are supported).
- Log into your online casino and pick PayPal from the cashier section. Decide on how much you want to withdraw to your PayPal account.
- You will need to enter your PayPal casino funding details to enable the transaction to proceed.
- Wait a bit. Whilst casinos process PayPal deposits very quickly, the time for withdrawals can be a little longer (some indication may well be given in the cashier section).
- This is optional, but if you want your money in your bank account then you'll need to make a second withdrawal, from your PayPal account. This may take longer than transferring funds from the top online casino.
Country Restrictions
As mentioned briefly above, PayPal vanished from casinos some years ago only to return in 2010. Back in the day, it was the biggest of the top 10 best payment methods. However, the return to the online gambling scene was on a more limited basis, providing its services only in nations where gambling online is legal and only for properly licensed sites. Because of this, if your country (or devolved region) does not permit online gambling at casinos then PayPal is not going to be available to you.
The US and most of Germany are pretty much out of bounds as far as PayPal casinos go, but Schleswig-Holstein does permit online gambling and PayPal may be permitted for sites registered in that particular area. Countries with more liberal laws, such as the UK, are open to PayPal casinos. Most European nations, like Sweden, Portugal, Ireland, Greece, Finland, Denmark, Belgium, and Austria, allow it, making it one of the top 10 best funding methods in Europe. Canada has so-called grey legislation when it comes to online gambling and, because of this, PayPal has pulled casino support from that part of the world. Generally, there's an Atlantic divide with the east mostly allowing PayPal casinos and the west mostly not. For Australia, it's also not likely to be available for the best online gambling purposes.
Frequently Asked Questions for PayPal Casinos
Read our top PayPal casino FAQs to find out why this is often considered the best online funding method.
How fast is depositing with PayPal?
Depositing with PayPal for casinos should be pretty fast - instant, in fact.
How long do withdrawals take?
Withdrawals from casino to PayPal may take a few hours, or a few days, depending on how fast or slow the casino is at processing. The best online casinos will have the least delay.
How easy is it to set up an account with PayPal?
It's very easy and straightforward to set up an account with PayPal for casinos, and it doesn't take too long. Basic top information including name and nation need to be disclosed, and a bank account linked. After that, a verification e-mail is all that's required.
I don't want to use 2-step verification. Can I still use PayPal?
Yes, you can use PayPal without using 2-step verification. Have in mind that the 2-step verification process is entirely optional, but it does enhance the best security. If you don't want it for whatever reason, that's fine.
Why isn't PayPal available everywhere?
There are several reasons why online PayPal casino funding isn't available everywhere. Since its return to the best online gambling scene the firm has only offered its services in nations where betting over the internet is legal. Even in some places with patchy legislation (some US states are liberalizing gambling laws) the firm may not offer its services simply due to taking a cautious stance.
Are there any fees associated with using PayPal at casinos?
Yes, there can be some fees associated using PayPal at casinos. However, this is largely down to the discretion of a given online casino. Many do not impose any fees for using PayPal. Any fees should be made clear on the cashier page.
Does PayPal impose any fees itself?
Yes, PayPal might impose some fees. This is because PayPal casino makes money through merchants, the PayPal online casino may apply fees to you to cover their costs.
PayPal is offered as a deposit method but not a withdrawal one. Is this a bad sign?
No, it is not a bad sign if your casino offers you a Paypal deposit method but not a withdrawal one. . Casinos quite often have funding methods that are only accepted for deposits or withdrawals but not both. The downside is that you'll need a second financial system to withdraw any winnings.
Are there limits to how much I can send with PayPal?
Yes, there are some limits regarding sending money with PayPal. After the initial registration there may be limitations on how much you can receive (€1,700 to comply with EU law, for example). This can be lifted through a simple verification process confirming banking and card details.
Is using PayPal safe?
Yes, in a word, PayPal is very safe. Total security can never be guaranteed, but PayPal means you don't share bank/card details directly, and it comes with a robust level of top security.
Why Use PayPal at Online Casinos
There are many advantages to PayPal casinos. It's quick, secure, and doesn't require disclosure of personal information. On top of that, plenty of people in countries like the UK already have an account which makes it all the more convenient. Overall, it's one of the top 10 best banking methods for gambling online.
More Payment Methods
Credit Card
Credit cards like Visa and MasterCard are often the most convenient and top choice with online gamblers around the world. Deposits are instant and there are no fees. The majority of the best online casinos accept them and this makes it very easy for players to fund their account and start playing right away. Credit cards can also be used for withdrawals, although they tend to take a number of working days. MasterCard cannot be used for withdrawals. Be sure to check out our Top 10 reviews of best Credit Cards Casinos Online for further information.
Interac
Interac was founded in 1984 and is one of the best ways to fund your online gambling account. It can also be used on mobile devices. It is an e-wallet payment system with instant deposits. All the best Canadian online casinos for 2020 accept Interac. It can be used with your existing bank or credit union account, and offers an extra top layer of security as players don't need to provide their bank account or card numbers to online casinos. Withdrawals can be made too but there can be some fees charged. These are very low, usually between $0.50 and $1.50.
Instadebit
Instadebit is a fast and secure payment method favored by a lot of top online gambling fans. It allows payments in CAD and USD meaning there are no exchange rate fees. It is a safe and secure e-wallet system, but you do need to have a bank account with RBC, TD, Scotiabank, BMO, or one of their credit union partners. It connects with your bank account and you select it from the payment options at the site you are playing at. Deposits are instant and it can be used for withdrawals. The only drawback is that there is a fee of CAD $1.95 for every transaction.
eCheck
The eCheck is just like the old paper check, but digital. All you need to use this is a bank checking account. Deposits can take longer, and, in some cases, you may have to wait up to two business days for them to appear in your online casino account. Withdrawals by eCheck are available too but you may have some fees associated with these. The best online casino players who are concerned with security or over-spending can benefit from using eCheck to fund their accounts. Like standard checks, cashouts can take up to 28 days.
