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eBay decided to spin-off PayPal into a separate company in 2014. From there it has developed into a true giant of the payments industry, strong enough to be a major competitor to the big banks and heavy-weight payments processors.
With over 200 million users, it is now an internet giant and it’s no surprise PayPal is also one of the most popular payments used at online casinos and bookmakers. A lot of players are looking for casinos who accept PayPal deposits.
Who Is PayPal?
PayPal is a huge American online payments company. eBay acquired them in 2002 and in 2015, they became a separately traded company.
They process billions in transaction amounts every year and have an established global presence plus an instantly recognisable brand.
Why Use PayPal for Online Casinos?
There are lots of reasons:
- Digital wallet - for a digital world, make payments from your phone or tablet
- Convenience - no entering long digit card numbers
- Security - Your financial information is not sent to the gambling operator
- Speed - deposits at gambling sites are instant - you can start playing immediately
Signup for an account, add bank card information, upload funds and then you have a balance that can be moved to a wider range of online casinos and betting websites.
Online Gambling Payments With PayPal
They offer a few different services alongside the digital wallet including PayPal Access Card and PayPal.Me.
Digital Wallet
- Unite debit cards and bank accounts in a single, online space
- Pay online with just your username and password
- Receive payments from individuals and businesses, which can be used to make purchases or withdrawn back to your cards/bank accounts
PayPal App
- Send and receive payments using your phone
- Pay in-store at selected outlets
PayPal Access Card
- A physical MasterCard debit card linked to your account
- Make payments like a normal debit card
- Withdraw PayPal funds from ATMs
- Touch payment with PayPass
PayPal.Me
- Receive payments by sharing a link
- Sender does not require your email or phone number
- Sender taps on your link, chooses amount and sends to you
- New countries and regions added regularly
Finding the Top-Rated PayPal Casinos
PayPal allows approved gambling merchants to use them in areas where gambling activities are legal.
PayPal doesn't exactly have its roots in the gambling industry, Skrill and NETELLER are digital wallets with a much deeper connection.
However, some of the top-rated online casinos do accept PayPal.
How Do I Sign up With PayPal?
It’s pretty quick and straightforward. It’s also free. You just need to supply your: Name, Email Address, Chosen Password, Physical Address, Bank or Debit Card Details and Date of Birth.
Verification will be necessary for specific services, which means you'll need to supply PayPal with: Proof of Identity (a scanned copy of your passport or driving licence) and Proof of Address.
Does PayPal Cost Anything?
Setting it up and making payments is free. The following services are charged:
- Currency Conversion | Paying in a currency different from that of your PayPal account will incur a conversion charge of between 0.4% and 7.4% of the transaction amount, depending on the currencies and whether the money comes from a bank account or debit card.
- Transferring Money Abroad | A cross border fee of 0.3% and 7.4% of the total transaction is applied to money being sent abroad, depending on whether you fund the transfer with a bank account or debit card, and where the money is sent.
- Receiving Payments | Money transfers are free if funded by PayPal balance, bank account or debit cards.
- Seller Fees | If you're selling, whether via eBay, virtual store or real store, fees range from 1.4% + 20p to 5% + 5p per transaction.
Is PayPal a Safe Payment Option?
Largely yes. PayPal offers all users Buyer Protection, so if a purchased item fails to arrive, or doesn't match the seller's description, PayPal will reimburse you.
Transactions never involve sharing personal or banking details, reducing the risk of fraud; and PayPal encrypts and monitors every transaction, 24/7, to prevent against fraud and identity theft.
PayPal also has a dedicated Resolution Centre to deal with customer problems and payment disputes.
