With more than 162 million active customers, PayPal is the largest and most popular online payment system by a long shot. For the longest time, they had nothing to do with online gambling due to being based out of the United States. Eventually PayPal changed its stance and now acts as a deposit method at online casino sites for customers in regulated markets.
PayPal was founded in 1998 and quickly became the leader in online payments. Today, they process roughly 11.5 million payments per day in 203 countries around the world. Customers can make payments in more than 100 currencies and hold account balances in more than two dozen currencies. No matter you live or which currency you prefer, PayPal probably has the answer.
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How PayPal Works
At its core, PayPal is an e-wallet for holding and transferring money. An account with PayPal serves as a safe holding point for your cash. You can upload funds to your personal account and then use those funds to deposit at casino sites that accept PayPal. If you win money, PayPal can also be used to receive withdrawals from casino sites.
I have used PayPal extensively for over a decade now and have no complaints. Personal PayPal accounts can hold large amounts of money, transactions are processed quickly and security has never been an issue. Additionally, PayPal functions well on mobile devices and can be used to send money to anyone no matter where you may be.
The primary reason people enjoy PayPal is the convenience of the service. Once you have an account, it’s super easy to make and receive payments. All you have to do to deposit is log in to your gambling site, choose an amount to deposit and then enter your PayPal username and password. Payments are made via secure pages hosted by PayPal, so your casino never sees your PayPal or banking information.
You can upload funds to your PayPal account via credit card, debit card, bank transfer and a variety of local methods. Once you have funds in your account, you can move the money to any casino that accepts PayPal.
PayPal also acts as a direct payment method so you can skip the part where you load funds to your account. If you already have a bank account or credit card linked to your PayPal account, you can log in to your casino and choose PayPal as your funding method. Type in your PayPal name and password and the money will be moved straight from your bank account to your casino account.
Paypal Prepaid MasterCard
All accountholders have the option to receive a physical MasterCard-branded debit card linked to their PayPal accounts. This card functions as a debit card and can be used anywhere MasterCard is accepted both online and at brick-and-mortar stores.
This is a prepaid card so you can only spend what you have in your PayPal account (thereby avoiding spending too much). All you have to do to fund your debit card is upload funds to your PayPal account. From there, you can use your MasterCard just like any other normal debit card.
Can USA Customers Use PayPal at Online Casinos?
No. PayPal is based in the United States and is subject to banking laws that restrict payment processors from doing business with offshore casino websites. PayPal may only be used for online gambling by people who live in markets where casino sites are licensed and regulated.
PayPal does not normally charge customers for using the service. It’s free to upload funds if you use a direct bank transfer and it never costs anything to make a deposit or withdraw money from a casino site. The only time you’ll see a fee is if you use a credit card to upload funds to your PayPal account.
Why You May Like PayPal
PayPal is a useful deposit method for a variety of reasons. Here are a few advantages to having an account:
- Speed: PayPal is very fast. Funds are uploaded quickly to PayPal and deposits to casino sites are processed instantly. If you win cash, you can withdraw it back to your PayPal account and have the money in hand that same week.
- Security: This is the largest and most trusted online payment system of them all. PayPal has been around for a long time so they’re not going to run off with your money any time soon. Additionally, all accounts are protected from theft, fraud and scammers.
- Non-Gambling Usability: PayPal is used everywhere. Rarely will you find an online store that doesn’t accept PayPal payments. The odds are good that if you sign up for PayPal with the intention of online gambling, you’ll eventually find yourself using PayPal for all kinds of other things as well.
Why You May Not Like PayPal
The only real downside to PayPal is that the company is extremely selective in who it works with. If a casino site isn’t properly licensed or operates in a legal grey area, PayPal won’t do business with them. This limits the number of casino operators that accept PayPal deposits.
Wes Burns co-founded OnlineCasinoSites.com with a mission to help gamblers understand and navigate the regulated online casino market in all countries around the world. Wes is a respected gambling journalist, working in the industry since 2008.