PayPal

PayPal is one of the most widely used digital wallets in the world. You link a bank account or card to your PayPal balance and pay without sharing card details directly with the betting site. Deposits are instant.

PayPal is also one of the better options for withdrawals, which are often processed faster than card payouts. Availability for gambling is limited to countries and operators where PayPal is licensed to support it.

PayPal (www.paypal.com) is the largest e-wallet payment system in the world. The company was founded in 1998 and is headquartered in San Jose, California, the United States. A PayPal account can be used to make purchases at online retailers and many of the world’s largest online betting sites. With top notch security, lightning-fast transactions and minimal fees, PayPal is a solid option for anyone looking for a new way to play online.

One thing you should be aware of is that PayPal only works with betting sites that are licensed by major licensing jurisdictions. As a US-based company, PayPal is beholden to laws in the United States that strictly prohibit payment processing for unregulated offshore betting sites. Customers in the UK and Europe may use PayPal at licensed operators, and customers in the US can only use it at sportsbooks and casinos licensed in their own state.

PayPal Betting Sites

These betting sites are confirmed to accept PayPal for both deposits and withdrawals. If you live in any country from which the above Paypal betting sites accept new customers, you may also use PayPal to get started.

How PayPal Works

To put it simply, PayPal is an e-wallet that you can use to store funds online, make payments, receive money and transfer money to friends. Many people choose PayPal simply because it offers security. When you make a payment or transfer funds to a gambling account, the merchant never sees your banking details or credit card number.

People also flock to PayPal because it saves payment information in a secure location. Instead of pulling out your credit card and typing in your information every time you want to make a payment, all you do is choose an amount to deposit and then log in to your PayPal account to confirm the transaction. This comes in very handy for people who do a lot of shopping or betting online.

Additionally, PayPal is a handy withdrawal method from betting sites. You can cash out your winnings any time straight to your PayPal account. The money is moved quickly and then you have the option to transfer that money to your personal bank account or go shopping somewhere else. Cashouts to PayPal are usually completed within hours and rarely longer than a day or two.

Getting Started

First, visit PayPal.com to sign up for a free account. You’ll be asked for your name and address then asked to set a password for your account. The next step is to upload funds to your PayPal account. The easiest way to do this is to link your bank account to PayPal. You can do so by entering your banking information to PayPal and then waiting for two small deposits to be sent to your bank. Check your online banking statement and then confirm the amount of each deposit. This verifies you as the owner of the account.

Once your bank account is confirmed, you can upload funds any time free of charge. All you have to do is log in to your PayPal account and choose an amount to upload. From there, you can make a deposit to any betting site that accepts PayPal.

PayPal betting sites can also send payouts back to your account free of charge. This is a fast-working withdrawal method and accounts for another reason why PayPal is a handy service. Once your funds hit your PayPal account, a standard transfer to your linked bank account is free, while an Instant Transfer to a bank account or debit card costs 1.75% of the amount transferred.

Verify Your Account

It would be a good idea to verify ownership of your bank account or credit card as quickly as possible.

The verification process takes a couple days, but it requires nothing more from you than to check your statement after a few days to note the exact deposit amounts PayPal credited to your account.

PayPal Betting Fees

It’s possible to use PayPal for years without paying a single fee if you do it right. Deposits to betting sites that accept Paypal are free and it is also free to fund your PayPal account with an instant bank transfer.

Online betting sites do pay a fee to PayPal when you use it to deposit. Most sites cover this fee but some sites have been known to pass the fee on to customers. Fortunately, most sites just cover the fee so this won’t even be a concern for most gamblers.