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 2021, 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.
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.
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
When it comes to making payments on online gaming sites, the most important thing to players is convenience. Players might think that they value security more, but if it is not convenient, more players than not will take the risk on the slightly less secure option. While Visa is secure, its top selling point is that it is incredibly convenient. Players do not need to register anything new because almost everyone has a Visa card already. All you need to do with your Visa is enter your information, and you will be ready to deposit funds to your account.
All major Canadian banks including TD, Scotiabank, and RBC are associated with Interac. As a result, every Canadian uses Interac daily. Additionally, having it available to players on online gaming sites is essential. Canadians have access to almost all sites that are licensed and regulated, and as a result, these sites typically include Interac as a payment method. This makes sites inclusive to Canadians, and it improves the player experience for them. It does not hurt that it makes it more likely that more Canadians will play on these sites either.
Bitcoin has now been around for well over a decade and is more widely accepted as a payment method than ever before. One of the reasons for Bitcoin's popularity is that it offers users autonomy and discretion that provide them with control and protection. As we often say in our Top 10 reviews, there are plenty of other benefits for people who choose to use Bitcoin at online casinos such as the fact that transactions are not subject to all of the traditional bank fees most people are used to paying. Plus, deposits and withdrawals with Bitcoin tend to be instant.
The only difference between an eCheck and a physical check is that it is digital. As a result, all you need to use an eCheck is a checking account with your bank. Deposits may take longer than with other methods, but it is safer. You may need to wait up to two business days for your deposits to process. However, withdrawals can take up to 28 days to process. This is obviously a long time and will force some people not to use it. However, if you are willing to wait that time for your winnings, there is no other reason not to use eCheck.
