Now its quickly becoming a go to tool for betting across regulated markets offering a variety of benefits over other payment methods that are available.
How to bet using PayPal?
Betting with paypal is a pretty simple process, let’s face it you wouldn’t grow to become one of the worlds biggest payment processors if you had a complicated integration process. In fact some sites even allow you to register using PayPal therefore making the whole process fast and simple.
We’ve split our guide up into two sections, depositing and withdrawing at betting sites using your PayPal account as a primary source of funding.
How to deposit at a betting site using PayPal
Firstly, you’d need to sign up to one of the paypal Betting Sites listed above. Once you’ve chosen your betting operator its time to register your account.
You’d go about this the normal way filling out all of the details required.
Once your account has been registered and verified its time to head over to the banking area of the site. Here you will find all of the payment methods that you can use to deposit. Click on the paypal option and add your details.
Remember as this is your PayPal login information, if you use a different email for PayPal you will need to enter that one instead. Enter in your password for your PayPal account followed by the amount you want to deposit. Remember you can no longer use credit cards to fund your betting so all PayPal deposits will need to be taken off your debit card.
Once you click submit the money will be deposited into your account and ready to bet with.
How to withdraw back to my paypal account?
Withdrawing from your betting account using PayPal is just as easy. After your bet has won and you’re ready to cash out. Head back over to the banking area of the site and go to the withdrawal tab.
Once accessed you need to select paypal. Process the amount of money that you’d want to withdraw and click confirm.
After this your funds will be withdrawn to your PayPal account and can therefore be cashed out into your bank account. Certainly two of the positives we see with using PayPal to bet is easy of use and how quick withdrawals are processed.
Advantages and Disadvantages of using PayPal to Bet With
Paypal is certainly one of our preferred ways to fund a betting account. But there are certain disadvantages to using it. We will be going into the Pro’s and Con’s with using paypal to bet with.
Deposit Speed – One of the main benefits is the speed at which deposits are processed between your paypal account and your chosen betting site. In fact you don’t even need to add anymore details as its all processed by your paypal account.
Security – PayPal adds an additional layer of security between you and the betting website. As you never have to add your card details to the website this means they can never be stolen. So for those of you who are more security minded then PayPal is probably the right choice for you.
Withdrawal Speed – Now this is certainly one of the main advantages of using PayPal. Withdrawals are conducted within 24 hours in most places some are even done within the same hour.
Anonymity – This is a little known benefit to using PayPal to fund your online betting accounts is that it won’t show up on your bank statement as betting. Its normally given a non descript name especially if its funded Bank > PayPal > Betting Site. So if you’re wanting to keep your statements clean then PayPal is certainly worth considering .
With PayPal there aren’t many disadvantages due to the size of the company and the improvements made over the year.
Welcome Bonuses – The main disadvantage that comes to mind when using PayPal betting is if you want to claim a welcome bonus from your chosen bookmaker then you will be unable to use PayPal as a first deposit option. While there are some free bets that do allow you to use PayPal its very rare as it leaves the system open to bonus abuse. So keep in mind when funding your account for a first time betting offers, make sure to use your debit card.
Scams – With PayPal being so popular its unfortunate that there are a lot of phishing scams going on in the guise of PayPal. They will send emails to your registered email that will look and act just like a paypal email asking you to log in. Please make sure you check where the email has come from before doing this as they’re trying to steal your details.
Top Online Bookmakers that accept PayPal:
With so many Online Bookmakers out there that accept PayPal, it can be difficult to decide on who to bet with because of the huge range of options that is available! To give you a helping hand, we have decided to create a list of some of the best Online Bookmakers that accept PayPal. This list is displayed below;
A Brief History of PayPal
PayPal actually began its life under a very different name, it was at its inception called Coinfinity and was founded in 1998. From this point onwards it grew rapidly going through a merger period with an internet banking company called x.com this is when it changed name to what we know today PayPal.com.
One of the reasons why PayPal grew to the size it did is due to its partnership with eBay. Due to eBay using them as their main payment processor it saw popularity grow 10fold and eventually resulted in eBay acquiring them for the sum of $1.5 billion back in 2002.
However it wasn’t until recently PayPal started being integrated into online betting and casinos and since then we feel its definitely a match made in heaven.
1998 – PayPal was founded.
1999 – PayPal is launched to the public.
2000 – Elon Musk steps down as CEO.
2001 – PayPal introduces paid accounts for buyers and sellers that require verification and offer guarantees against fraud.
2002 – eBay acquires PayPal.
2008 – PayPal acquires Bill Me Later.
2009 – PayPal opens its platform, allowing other services to get access to its code and to use its infrastructure in order to enable peer-to-peer online transactions.
2010 – PayPal removes the electronic withdrawal option for users in India.
2011 – PayPal reaches 100 million users.
2012 – PayPal rebrands its services for small businesses as PayPal Payments and debuts a number of online, offline, and mobile payment options.
2013 – PayPal launches support for prepaid gift cards, just in time for the 2013 holiday shopping season.
2014 – PayPal launches Passport, a service aimed at facilitating international sales by merchants.
2015 – Paydiant & FIS launch Cashless Card Access.
2016 – PayPal launches redesign of PayPal App.
PayPal Betting FAQ
Here are a few of the frequently asked questions that our readers have had in relation to Betting with PayPal.
Can anyone bet with PayPal?
As long as you match all the criteria of signing up to any betting sites then you can use PayPal to deposit/withdraw. This means you have to be over the age of 18, based within the United Kingdom and already have a PayPal account or able to set one up.
Will every Betting site process deposits/withdrawals via PayPal?
No, despite PayPals immense popularity across the world not every betting website you see on this site will have PayPal as a payment option. If the site is listed on this page then it will be accepted. There are numerous reasons as to why such as too difficult to implement or fees are too high.
I deposited using my debit card can I still withdraw by PayPal?
Unfortunately not, betting sites will only process withdrawals back to the method you chose to fund it with. That means unless you used PayPal as your first deposit method you won’t be able to do it. Any subsequent deposits made with PayPal can be withdrawn to it though.
Is it a safe way to bet?
While online gambling at regulated and secured sites is already incredibly safe, PayPal adds that extra layer of protection between bettors and any fraud that could occur over the internet. This is due to no card details being passed from your internet device to the bookies servers. So even if there was a breach which there’s a very slim chance of occurring they wouldn’t be able to steal any details anyway.
Will there be any fees?
As a customer you won’t face any fees from betting with PayPal, Instead it will be the bookies who deal with costs and fees attributed to PayPal which depending on size can be quite costly.