There are currently so many ways to deposit and withdraw money at online casinos, from e-wallets and credit cards to cryptocurrencies. Without a doubt, one of the most prevalent banking methods at online casinos is PayPal.
Still, there are so many questions regarding the use of PayPal for online gambling, such as whether it’s legal, where it is available, and more.
This article is here to answer all of these questions and reveal everything there is to know about PayPal at online casinos before making the first payment.
What Is PayPal Exactly?
Essentially, PayPal is an e-wallet service for electronic money transfers, not used exclusively for online gambling but for any money transfer.
PayPal is one of the most well-known e-wallets globally, recognized for its ease of use, speed of transactions, security and vast number of financing options.
Naturally, an online money transfer service like this couldn’t stay unnoticed in the online gambling world, so it’s been connected to online casinos since the early days.
PayPal has significantly influenced an entire industry of online gambling and even improved it, so it’s no wonder why so many casinos offer PayPal as one of the banking methods.
Is PayPal Available Globally?
This is one of the most common questions about PayPal, especially when using it as the banking method at online casinos. At this moment, PayPal is available in over 200 countries and territories, supporting 25 currencies.
However, this doesn’t mean that players can use PayPal for depositing and withdrawing the money at online casinos since PayPal only allows gambling transactions in those jurisdictions where it’s licensed.
PayPal can be used for gambling purposes in these countries:
- USA (Nevada and New Jersey only)
Clearly, this shows that PayPal has strictly regulated where it can be used as an online casino payment method because these countries have stringent regulations and rules for online gambling.
If PayPal is one of your preferred payment methods, check out the best online casinos that accept PayPal and register now.
What Are the Benefits of Using PayPal?
When it comes to e-wallets, PayPal is unmatched as a payment method for online gambling. As a result, many online platforms emphasize using PayPal as the main banking option, and here are some of the reasons why:
Security: PayPal is one of the most secure payment methods. The website is fully encrypted and safe, and it doesn’t require any confidential information, so players may deposit and withdraw their money using nothing but an email address. PayPal also features various verification methods, so the chances of any abuse are nearly non-existent.
Low Fees: While some of the other e-wallets may take a considerable chunk out of the players’ transactions, this doesn’t apply to PayPal, which is famous for its low fees. On top of this, there are no hidden fees, and everything is transparent.
Quick Transactions: Any conventional payment method can’t even come close to PayPal when it comes to the speed of transactions. While banks can take a few business days to process the transactions, PayPal will only take a few minutes because this process is automated. Speed of transaction is a critical element of online gambling because time is money.
Unrivaled Convenience: Using PayPal is trouble-free and user-friendly, so anyone can use it without spending much time learning how. What’s more, it also features an official mobile app, so players can deposit or withdraw their funds even when on the go.
How To Use PayPal for Gambling Purposes?
First, a player that wants to use PayPal must ensure that the gambling platform accepts PayPal, which is usually the case, but there are exceptions. Usually, the website will have a PayPal logo displayed on the website/app, so all that the player needs to do is click or tap on the logo, redirecting the player to the PayPal website.
Once there, a player must fill in the details such as name, ID (used for verification), address, and email address. Once everything is set, all that remains is to deposit the funds and connect the PayPal account to the online gambling platform for one of the most convenient and fastest methods of transactions.