It hasn’t always been possible to gamble online with PayPal, making PayPal casinos and PayPal sports books a thing of myth and legend (not to mention scams). However, times have changed and PayPal is now one of the most widely used deposit and withdrawal options on online gambling sites.
But what instigated this change, how did PayPal grow and why is this web wallet so popular with online gamblers around the world?
PayPal and Gambling: The History
Online gambling with PayPal wasn’t always possible. In fact, in the early days it was restricted and anyone caught breaching those restrictions could be banned from the service.
These issues stemmed from the fact that PayPal is US-based and that the US has never looked too fondly on online gambling. There was also a concern that PayPal gambling sites and PayPal gamblers were using the service to launder money.
This changed when services like Skrill and Neteller began to allow online gambling payments. They saw a gap in the market and they exploited it to the fullest. They made a lot of money based on the back of the gambling industry they were able to rival PayPal in terms of size, wealth and reach.
At that point, PayPal decided that a change was needed. They removed those restrictions and began allowing online gambling sites to use their service as a deposit and withdrawal method. Once this happened, PayPal pulled away from the others once more and grew into the financial behemoth that is is today.
Benefits of PayPal Gambling
There are a number of positives to gambling with PayPal.
The first of these is the fact that you can use PayPal as a bankroll. This is important for professional gamblers that plays for real money, and for those who struggle with gambling addiction.
Simply put, it allows them to use their PayPal account to manage their winnings and their losses, limiting any compulsions they have to add more money when they are on a losing streak and allowing them to keep track of every penny going in and out.
Not only is this beneficial for one site or one platform, but it’s also useful for all online gambling sites and activities. For instance, they can make a single transfer from their bank to their PayPal account and then use this to bet on a single online gambling site. If they win, then can then move money to another site, and another, and another. They can even use their winners to purchase gifts, clothes, food and more.
And throughout that time they only ever have to make a single deposit. That’s the sort of accessibility that makes PayPal so popular both with shoppers and gamblers.
Why Gamble with PayPal: Pros and Cons
To clarify just what the benefits of PayPal are to online gamblers, take a look at these pros and cons:
- Bankroll: As mentioned above, PayPal is a great tool for bankrolling.
- Safety: If you worry about using your card details on new sites then just use PayPal. There are no security fears here.
- Speed: A debt card and a credit card can take 5 days to process a withdrawal, as can many other payment methods, but PayPal withdrawals can be processed within a matter of minutes.
- Accessibility: There are a huge number of sites that accept PayPal, and it can even be used on shopping sites and to send money to fiends and family.
- Fees: There are some fees associated with PayPal withdrawals. These aren’t always charged, but they can be. You should make sure that you check in advance so that you don’t get any nasty surprises.
- Slow Customer Support: PayPal’s support has improved a lot over the years, but it can still be difficult to find help when you need it.
Will I Pay Fees?
There can be fees, but these are rarely charged. Typically, fees are only charged when you pay for goods or services, in which case the person receiving the money will pay them. If you receive money from a gambling site it is often processed as a different type of payment, and there are no fees involved with these payments.
PayPal is actually one of the cheapest methods as options like bank transfers, credit cards and others often incur fees.
Best PayPal Gambling Sites
So, just what are the best PayPal gambling sites out there? Well, this is not an easy question to answer as there are thousands of them. In fact, there are more gambling sites that accept PayPal than there are sites that don’t.
It all comes down to preference and often has very little to do with PayPal. The only thing you can do as a player is to make sure that the sites you use are safe and fair, and that you try as many of them as you can in order to find the one that is perfect for you.
PayPal Gambling Limits
There are no set limits on PayPal deposits and withdrawals. However, the gambling site you’re using may impose such limits.
In most cases, you will need to deposit a minimum of €10. This very rarely goes any lower and sometimes it is a little higher. The average highest deposit is around €10,000. But again, it all depends on the casinos, the sports book or the poker site and has very little to do with PayPal.
This is something that you should check in advance, especially if you’re a micro stakes player or a high roller. You should also check the withdrawal limits as some sites impose restrictions on the amount of money you can win, as well as the amount of money you can withdraw. These practices are generally frowned upon, but they are not unheard of.
How Quick are PayPal Withdrawals Processed?
PayPal deposits are processed instantly, like all online gambling deposits. However, withdrawals tend to be a little slower.
On the plus side, once a withdrawal is initiated through the online gambling site then it should be in your account within minutes. On the down side, gambling sites often site on withdrawals for a minimum of 24 hours before instigating them.
Put simply, if there is ever a delay in receiving your money following a PayPal withdrawal, then it’s probably on behalf of the gambling site and not PayPal.
Can I Use PayPal to Bet on Sports?
This was a very contention issue in the early days. Even when PayPal gambling sites became a thing, PayPal sports books were still non existent.
In some countries, this remains to be the case. But across Europe, and in other countries where online gambling is unrestricted and widely available, there are no such issues.
In fact, the biggest sports books in the world, including the likes of BetFair, Bet365 and 888Sport, all accept PayPal. You just need to deposit, place your bets and then withdraw your winnings if and when they arrive.
Can I Use PayPal to Play Poker?
Many online casinos use PayPal and also offer games of poker. However, these tend to be three-card poker, which is played against the house, and video poker. If you use a poker room, then your best bet is to use one that is attached to a larger betting site, as opposed to one that is all about poker.
That’s because many poker rooms just don’t accept PayPal, whereas poker rooms that are attached to larger betting sites do.
Can I Use PayPal to Play Casino Games?
You should be able to play your favorite online casino games using PayPal. There are no restrictions on the types of games you can play and whether or not you can use this web wallet is all down to the online casino.
So, check in advance to ensure that they offer PayPal as a banking option and then take a look at the games they have available. If not, you can always use other methods like Bitcoin for your casino needs.
Can I Use PayPal Gambling Sites on my Mobile?
Many online gamblers prefer to play through their mobile device these days, and the developers, the casinos and the payment providers are working hard to facilitate this. In the early days of mobile gambling, you could only play online and had to deposit/withdraw using your desktop.
That is no longer the case though. You should be able to make a deposit and a withdrawal directly through your mobile app. As a security measure, online casinos recommend that you don’t stay logged into your payment provider or into the casino, just incase you lose your device.
So, make sure that the casino and your PayPal account require a login each time, and that your device has a passcode and/or a failsafe placed on it.
Is PayPal Better than Skrill?
Whether you use PayPal or Skrill is just a matter of preference. There are customers out there who absolutely despise PayPal, usually because they have had an issue with it in the past.
This always happens with companies that deal with so much money and so many customers, and PayPal is no exception. But the same could be said for Skrill, and they have just as many haters as PayPal does.
For people in either of these two camps, the winner of the PayPal versus Skrill battle is a fairly obvious one. For those who have had no issues with either of these web wallets, it’s not as clear.
But what is clear is that if you compare everything that these two services offer, from the fees they charge to the features they provide and the efficiency at which they operate, the end result is pretty level. In other words, there is very little separating the two.
Is PayPal Gambling Safe?
PayPal is completely safe. In fact, that’s one of the best reasons to gamble online with PayPal, and one of the reasons so many customers use it.
PayPal serves as a bridge between your bank account and any number of gambling sites. All modern gambling sites are secure, but despite that, no one likes the idea of giving their debit or credit card to dozens of different sites. With PayPal, they’re the only ones who have your details and they can essentially make transfers to many gambling sites for you.
If you’re worried about your safety online, this could be the peace of mind that you crave. Even if you’re not overly concerned about this issue, the added security offered by PayPal is still welcome.
What are the Restrictions on Gambling with PayPal?
You should be able to use PayPal to bet on most sports books, casinos and even poker rooms. However, this may not always be the case.
Some sites don’t offer PayPal as an option. There can be a number of reasons for this, ranging from the fees charged by PayPal to the potential risk of fraud. But whatever the reason, if a site doesn’t accept PayPal then there’s nothing you can do about it.
It’s best to check with a casino’s deposit/withdrawal options before you join to make sure they accept PayPal as an option. If you can’t find this info, then just look for the PayPal logo at the bottom of the homepage.
You will not be able to use PayPal to gamble online if you reside in the United States. They do not facilitate transactions between US gamblers and US-based gambling sites, even if those sites are based in Central or South America, as so many of them are.
PayPal is the biggest web wallet in the world and one of the biggest online payment providers. It is popular for a reason, many reasons in fact. It’s quick, it’s easy, its accessible, and when it comes to online gambling, it just makes life so much easier.
All gamblers can benefit from using PayPal, from those who gamble frequently and want to use it as a bankrolling tool, as well as something to make things easier, to occasional gamblers looking to make their money a little safer.
It’s not perfect, but nothing is. And when it comes to a quick, easy-to-use online gambling solution, it doesn’t get much better than this.