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?
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.
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.
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.
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.
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).
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.
Read our top PayPal casino FAQs to find out why this is often considered the best online funding method.
Depositing with PayPal for casinos should be pretty fast - instant, in fact.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.