Though far less frequently accepted at casino sites than the competing eWallets Skrill and Neteller, PayPal has long been (and still is) among the most favoured providers of hassle-free online payment services.
The company was established in 1998 as Confinity, less than two years later merged with X.com, and was rebranded to PayPal in 2001.Takeover by eBay took place in 2002, and having obtained a European banking license in 2007, PayPal continued to grow at an enviable pace.
Paypal is currently available in 200+ countries, supports 25 currencies and boasts more than 200 million active accounts worldwide. Its indisputable popularity has yet to be reflected in the online gaming world which still chooses to focus on the company’s two junior competitors.
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If you’d like to use this payment service, you’ll first have to set up a PayPal account. Signing up is done with nothing more than an email address and a password, plus it’s completely free. The next step is to add a bank account or a credit / debit card (Visa, MasterCard, Amex), and from there on you can simply login with the same two pieces of information to pay for your online purchases. Additional verification can be done to enjoy extra benefits such as lifting the withdrawal limit on your PayPal account.
Related fees differ depending on which country the client is from. For example, US citizens are charged 2.9% plus $0.30 to send money via a debit or credit card. Transferring money out of their PayPal balance using the linked bank account is free, while Instant Transfer costs $0.25 per transaction. There are also small fixed fees for sending money in other currencies.
PayPal Mobile app is available for iPhone, Android and Windows Mobile and can be downloaded via PayPal website or iTunes, Google Play and Windows Phone Marketplace. One Touch allows you to complete purchases faster by choosing to stay logged-in, meaning you can skip the PayPal log-in screen when paying via the same device and same browser. PayPal.Me makes it even easier to receive money; all you need to do is share your PayPal.Me link with whoever is paying and they’ll be able to send you cash without knowing your email address or your mobile number. It costs nothing to set up and can also be used on iOS and Android smartphones and tablets.
PayPal is a holder of a European banking license and therefore required to implement the highest levels of security. Every transaction is guarded by an advanced encryption technology so that no third party can touch it. To prevent fraud and identity theft, the company monitors all money transfers 24/7. If something looks suspicious, their team of specialists will immediately take action to protect you from fraudulent transactions.
The thing about eWallets is that they make casino payments as simple as can be. There’s no need to enter card numbers, security codes and expiration dates; all you’ll have to supply is your email address and password. Providing you have funds in your PayPal account, deposits can be made by selecting PayPal from the list of payment methods, indicating the amount you wish to transfer, and logging into your PayPal account to confirm the transaction. As the results, funds will be added to your casino account almost immediately.
One needs to follow the very same steps for money to go the other way. Next to cryptocurrencies, eWallets are the fastest tool for getting hold of one’s winnings. Withdrawal processing period differs from one online casino to another, but once it has been completed, it will take only a couple of days for cash to appear in your PayPal account.
Online Gambling with Paypal: Benefits and Disadvantages
PayPal deposits are immediate so there’s no waiting around before you can launch your favourite casino game and start playing with real cash. This is also one of your best options for collecting your online gaming profits as quickly as possible, though you might have to pay a small fee. Opening of an additional account might seem tiresome, but once it’s done, executing online transactions becomes exceptionally simple. What’s more, you won’t need to enter zillion card-related details each time you visit a new gaming venue. The size of provider’s client base anyway makes it likely many of the players already own an active PayPal account and will have to take no additional actions in order to fund their gaming activities.
PayPal service is among the safest online banking options thanks to implemented security measures as well as the fact users don’t need to share bank account or credit card numbers with the casino they’re playing at. The latter should definitely put your mind at ease if worried about identity theft. The only disadvantages is that not that many online casinos offer PayPal deposits and withdrawals, even though as time goes by, more and more are adding it to their list of available payment options.
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