Paypal Casino: List,Deposit,Withdraw,Pros/Cons,Legality & Fees
What are Paypal Casinos?
When Casinos uses PayPal as a deposit and or withdraw method for the purpose of gambling such as playing the lottery, casino games or sports betting we called them PayPal Casino. Back in 2002, eight percent of all transactions processed by PayPal were from online gambling transactions and the numbers seem to have been rising each year since then. PayPal has a user base that consists of 277 million accounts. Out of this total, 22 million are merchants, and 255 million are consumer accounts. Over 12 months, the transactions made per active user account are at an average of 38. PayPal is used by many as a secure withdrawal and deposit method at online casinos.
Top Casinos that accept Paypal :
A Step by Step Guide – Online Casino Paypal Deposit:
To use PayPal at an online casino, first, you need to have some funds loaded up. To set up your account and load it with money you should do as listed below:
STEP-1: Register with PayPal
Expect PayPal to make one to two random deposits. You then need to confirm your card or bank account by filling out how much those deposits were made up of. Once this is done you’re done with the account creation. The whole process can take up three to five working days.
STEP-2: Transfer Funds to PayPal
Once your account on PayPal is created, You login your paypal account and click on Money link into top menus.
you will need to link your credit or debit card.
This way you have a source for moving funds around on PayPal.
STEP-3: SIGNUP at a PayPal Casino
Choose an online casinos that take paypal (i.e. 22bet.com , BGO Casino)that catches your eye and sign-up. The information these casinos usually require is your date of birth, email address, phone number, name, and password.
STEP-4: ACTUALLY Deposit Funds at PAYPAL Casino
To fund your account at casinos that accept paypal, you first need to find the cashier section. Once you do, choose PayPal as a payment method. Enter the amount you’ll be depositing and click submit. When this is done, you’ll be redirected to PayPal where you’ll need to log in and confirm the transaction.
The money should arrive in your account within a couple of minutes.
STEP-5: Have Fun
Now it’s time for you to have some fun on best paypal casinos with the games of your choosing.
So now you understand how to do casino paypal deposit easily.
How to do online casino paypal withdrawal ?
To withdraw your winnings from a PayPal casino, select PayPal as the option for your withdrawal and enter the amount you’re taking out. Check that the amount you entered is between the minimum and maximum threshold that can be withdrawn at a single time. It’s also important to make sure you clear all wagering requirements before trying to cash out and submit documents for identification if they’re requested. If all of this is done correctly you will get funds into your respective e-wallet account.
Pros and Cons of Paypal Gambling:
When handling gambling transactions strict restrictions are in place. This means that only approved casino operators are permitted to accept deposits through PayPal. If you see PayPal as a payment option at an online casino, it’s safe to say that what you’re visiting is legitimate. In most cases, these websites treat their customers fairly and remain on PayPal’s good side by having a good history of responsible payment handling.
Pros of Playing on Best Paypal Casinos :
- Security – Gambling operators don’t have access to your financial information. PayPal has a system that’s very strict and regulated.
- Convenience & Speed: This method is one of the quickest and most convenient out there. When deposits are made at an online casino through aneWallet, the funds are very quickly reflected in the casino’s account and are quickly updated in your bankroll. The same applies for withdrawals. Received payments are nearly instant and go through the moment they’re processed.Then you can make a withdrawal into your bank account at any time. Many people choose this option for the exact reason that payments are reconciled so quickly.
- Buyer Protection: When making payments through aneWallet, you can be a lot more certain that you won’t get ripped off. eWallets have a buyer protection system in place that includes disputes and arbitrary functions. This means that if something is wrong with the transaction you can always do something about it. In most cases, the claims are resolved in favor of the buyer, so in terms of buyer protection, PayPal has you covered.
- Digital wallet: This once again comes back around to convenience. It’s the digital age, and instead of entering your card information or even bank details, all you need is a mobile device, a username, and a password to send payments anytime, anywhere.
- Long Track Record: PayPal has been in the business for a long time now, and with that comes a certain sense of trust and security. PayPal’s history is very clean and they’ve been known for transparent, safe and secure payment processing. Millions of people use PayPal around the world, this makes it the most popular online payment processing service.
Cons of Playing at Best Paypal Casinos:
- Cons of the Vetting Process :In most cases, PayPal vouches for the casinos that use their payment processing service. The degree to which this is done isn’t certain though. Sure, they might comply with local laws but that doesn’t make them a legitimate or honest casino/betting site.To put it simply, even legitimate casinos can be quite poor in many areas. The fact that they accept PayPal as a payment processing option doesn’t make them great casinos.
- Middle Man:A lot of people dislike using PayPal because they’re the middle man. Transfers from your bank are made to PayPal, which could take some time. The deposit is then made to the gambling site. The same goes for withdrawals. In both cases, you must go through PayPal.For some, it’s just a whole lot easier to use a credit or debit card, in cases where they can be used for both deposits and withdrawals of course. This cuts out the middle man which could make the process faster and smoother.
- Not Widely Available:PayPal can be a bit picky about who’s allowed to use them. This makes finding a casino that accepts PayPal somewhat tricky.
- Freezing Accounts:Although this hasn’t been happening much recently, there have been cases in the past where PayPal froze accounts that they suspected of suspicious activity. This means that if PayPal decided something was wrong with your account, they could potentially freeze it. Your funds could be inaccessible for long periods, which can be a pain to deal with. Thankfully, these kinds of cases are very rare.
List of Approved/Restricted Countries in regards to PayPal Gambling:
Here’s a list of countries where the use of PayPal for the purposes of gambling is approved or restricted.
PayPal’s Fees for Gambling:
Setting up PayPal and using it for making payments is free. The services listed below are charged:
- Currency Conversion | When using PayPal to pay in a currency different from that of your account, you are charged a conversion fee between 0.4% and 7.4% of the transaction amount. This depends on the currencies and whether the money comes from a credit/debit card or a bank account.
- Transferring Money Abroad | When using PayPal to send money abroad you are charged a fee of 0.3% to 7.4% of the total transaction. This depends on which country the money is being sent to and whether the money comes from a credit/debit card or a bank account.
- Receiving Payments | If a money transfer is funded by your PayPal balance, debit card or bank account it’s free. Credit card transfers have a 3.4% + 20p fee. Who pays the fee is up to the sender.
- Seller Fees | If you’re a seller then the fees range from 1.4% + 20p to 5% + 5p per transaction. It doesn’t matter if you’re selling via eBay, a traditional store or a virtual store.
Gambling Activities that PayPal Prohibits:
If the transactions are not associated with a PayPal approved merchant, the next activities, even when lawful and in cases where they aren’t legally defined as gambling, are prohibited.
Games of chance and games of skill – These can include activities that require an entry fee and could award a prize, regardless of whether the outcome is a result of skill or chance.
Casino games – This can include a range of physical and virtual games such as blackjack, craps, baccarat, keno, pachinko, faro, paigow, poker, wheel of fortune, roulette, slot machines, and others.
Sportsbooks or sports betting – This can include betting on real sports events through a betting exchange or against a bookmaker.
Horse or greyhound racing – This can involve gambling on a few types of races.
- Simple betting, or a bet between individuals.
- Sweepstakes betting in which stakes or an entry fee are pooled and given to the winner/winners.
- Bookmaking, where speculators give odds against each dog or horse and take bets that contradict their predictions.
- Pari-mutuel betting, in which the odds on a particular dog or horse come from a comparison between the total amount wagered on that animal and the total wagered on all animals in that race.
- Off-track betting (OTB), in which the players bet on races that take place in a different location than the one the bettor is in.
Person-to-person betting – This can include wagering through a betting exchange or wagering between individuals.
Lottery tickets – This can include the purchase or sale of opportunities for participation in raffles, pools, drawing, or any type of contest or game that could involve the distribution of monetary compensation or prizes.
Gaming machines – This can include devices that adhere to the next criteria.
- Made or redesigned for playing games of chance.
- Contain certain apertures for the insertion of money or other equivalents of money such as tokens.
- Offer prizes such as money or equivalents of money, no matter if the player is at risk of losing money or equivalents of money.
Gambling-related ventures – It’s also possible that PayPal may prohibit transactions for the next gambling-related ventures.
- Services related to gambling like tips and instructions for gambling and handicapping.
- Facilitating the process of placing bets, or securing offshore licenses through intermediaries.
- Use of forums that facilitate betting between individuals.
If a merchant wants approval to conduct activities related to gambling that are under PayPal’s policy, they will need to provide their contact information and a summary of the business.
1.What is PayPal?
PayPal is an online financial service that allows you to pay for items using a secure internet account.
2.How does it work?
PayPal acts as a digital wallet that funds you one account with multiple cards. With a username and password you can send money to friends, get paid for services or fund your slot account.
3.How do I create an account?
Simply create a username and password by visiting paypal.com. With one account you can load funds from multiple e-wallets with multiple cards, bank transfers, or cash.
4.Can I use them at online casinos?
Yes,Many licensed online casinos allowed PayPal payment & we have already recommended top of page casinos that accept paypal.
5.Do they support multiple currencies?
Yes, PayPal accepts payment in the preferred currency for global customers.
6.How are winnings paid?
When you’re ready to cash in on the slot win, choose the PayPal option in the cashier. Your money will be returned to your e-wallet in one day.
7.How do they compare with the alternatives?
PayPal is very fast and secure. It also benefits from millions of users worldwide so it is a very good option for online gambling.
8.What fees are involved?
Fees vary when using different payment methods in PayPal, but the standard fee funding a wallet with credit card is 1.90%.
9.Are they safe?
Yes. PayPal transactions are secured by key protections that are normally reserved for credit card providers.
PayPal has been here for a long time and it’s here to stay. It’s one of the most trustworthy banking options out there in regards to online gambling. The transactions through PayPal don’t require sharing banking details or other personal information, which greatly reduces the risk of fraud and identity theft. This is further enhanced by PayPal’s encryption and monitoring of all transactions. If you’re ever having a problem with PayPal, you can always turn to their Resolution Centre which deals with payment disputes and other issues customers might be having.
The next time the need arises for funding your gambling account, give PayPal a shot. There’s no reason not to unless you’re in a restricted area or you already have a better banking option available.