Best Paypal Casinos
PayPal has been a popular payment method for the last few decades, and although there is finally some stiff competition out there when it comes to highly secure and convenient e-wallets, it’s still managing to hold its own. Many people who sign up with online casinos will use PayPal as their cashier option of choice, and this is because it’s highly convenient to make payments. The main attraction for gamblers is the fact that you don’t have to enter a long card number or submit any personal information in order to carry out a financial transaction. All you need is your email address and password and you’re good to go. As Casino Professor, it’s my duty to look into the major payment methods used by online casino players, and so I’ve gathered all the information you need to know about this famous e-wallet. Read on to find out more.
What is PayPal?
PayPal is one of the first major and successful e-wallets, which provide an easy and convenient way to send and receive money online. They are most well known for their partnership with eBay, but they are also a viable payment option for thousands of other websites, including growing numbers of online casino sites. It’s set up so that people can send money quickly to each other using just an email address, and now it’s becoming possible to use PayPal while you’re out shopping at land-based establishments, due to a growing number of shops accepting the service.
History of PayPal
PayPal’s story begins in December 1998, where it was called Confinity. At the start, this company specialised in creating security software for portable devices. However, a year later, they were funded by BlueRun ventures to become a money transfer service. In March 2000, X.com and Confinity merged, and X was a venture founded by Elon Musk. He saw a huge future for money transfer services, and he was so intrigued by the concept he ended up devoting his attention to PayPal’s money service instead of his own company’s internet banking function. Unfortunately, Musk was replaced by Peter Thiel as CEO of X.com, and the company was renamed PayPal in 2001. In that year, the company experienced rapid growth, so executives decided to go public the following year.
eBay acquired PayPal for $1.5 billion after their IPO, and it wasn’t long before over half of all eBay auctions had PayPal listed as a payment option. This became the preferred cashier method for eBay users, causing PayPal to become a big contender with competition such as Google Checkout, Billpoint and BidPay. Ultimately, PayPal was so successful that these competitors ended up shutting down. In 2005, they took on the VeriSign payment solution, which provided additional security to its services. Their growth kept on coming, as 2007 saw them form a partnership with MasterCard. This was a game-changer, as it allowed customers to pay on sites which didn’t accept PayPal by creating a one-time MasterCard number for transactions.
How to sign up for PayPal
- Visit the website or app on your desktop or mobile device.
- Click ‘sign up for free’ or ‘sign up’, depending on the device you’re using.
- Decide whether you’ll get a personal account or a business account.
- Enter an email address and create a password.
- Fill in the signup form with your personal information – name, address, phone number etc.
- Enter your credit or debit card information. You can do this either now or skip it until later.
- Decide if you want to sign up for PayPal Credit.
- Confirm your email address by clicking on the message link PayPal has sent you.
- Link your bank account with PayPal. On the summary page, click ‘Link a bank’. This will trigger PayPal depositing two small amounts into your bank account. These amounts need to be verified to confirm you own the bank account.
- To link a credit or debit card, click ‘Link a card’ on the summary page, then enter the card number, expiration date and security code.
Advantages of PayPal Casinos
Easy to use
Signing up for an account at a PayPal casino is quick and easy. All you need to sign up are a valid email address, bank account and payment card. This isn’t difficult for most people to provide, which means they can be using their e-wallet not long after clicking ‘sign up’.
More convenient than payment cards
PayPal takes away the hassle involved with getting out a payment card, entering the long number, security code, expiration date and so on. All you need to input with PayPal is your email address and password, which is much easier to have memorised. This saves time for people making purchases, especially if they’re on the go.
Easy to keep track of spending
All transactions are conveniently recorded on a special page, which makes it simple for people to keep an eye on where their money is going. It’s also good for business accounts to review their history and carry out accurate book-keeping.
Transactions are secure
PayPal encrypts personal data and financial transactions to the highest of standards, with many stating that users are provided with a higher level of protection compared with other payment methods.
Loyal customers are rewarded
Customers who dedicate decent chunks of time to shopping with PayPal as their cashier option will be eligible for discounts. There are always partnerships with retailers in action, so if you play your cards right, using PayPal could end up providing many perks.
Disadvantages of PayPal Casinos
You could be subject to unexpected charges
There are some situations where PayPal casinos will impose charges. For example, if you’re a business generating a profit through PayPal, you’ll be subject to a 2.9% charge when you receive money for goods or services.
No warning if your account gets frozen
For those who rely on PayPal in their day to day lives, having their accounts frozen can cause them a lot of distress and difficulty. If PayPal detects any suspicious activity on your account, you may try to log in just to discover it’s been frozen without warning. This can cause particular problems for businesses who may rely on this account for completing financial transactions.
It’s a popular target for scams, such as phishing
Many people have received a suspicious looking email from a dodgy address claiming to be PayPal. Unfortunately, a high percentage of people have clicked on fraudulent links and had their personal information compromised as a result.
Disputes are usually resolved in the seller’s favour
If you use PayPal as a buyer for virtual items and encounter any issues along the way then you’ll usually find that they won’t be resolved to your liking. This is because PayPal can’t track virtual items – nor can they track physical items which have been posted without a tracking number being submitted.
Limited service availability
Companies who want to operate worldwide shouldn’t use PayPal unless they’re targeting specific countries which permit the service for the bulk of their sales. This is because PayPal may be widespread these days, but it still isn’t available everywhere. If you really want to use PayPal, offer some additional methods for those who can’t use it.
PayPal’s main competitors
These days, Visa is a household name, and this is because there are over 3 billion cards out there. It’s one of the most popular payment methods in the world, and it’s highly unlikely that it will be declining any time soon. This is a known brand which has a long history and robust reputation, making it a trusted payment method for people across the globe. The main benefit of Visa when compared to PayPal is that it has a richer history and more established reputation, and it’s a good option for customers who may be concerned about uploading their bank account, credit or debit card information to a third party site.
How does PayPal compare?
While the benefits of using Visa are clear, especially for those who may not want to entrust a third party with their casino deposits and withdrawals, there’s no denying that PayPal is a modern, portable and convenient way to handle financial transactions. It has managed to hold its own for decades, so its reputation will be growing alongside the other major players in the industry. As for security, all transactions are provided with a high level of encryption, and in many ways, they are handled with more speed than a Visa payment.
Like Visa, MasterCard is a well-known name, with billions of these payment cards in circulation across the globe. It’s only grown alongside the rise of e-commerce sales, making it a major player in the industry. Additional services provided by MasterCard, such as fraud prevention tools and loyalty programs, add value to their brand and boost their reputation, encouraging customers to keep using their payment option.
How does PayPal compare?
According to surveys carried out on brand usage demographics, more online consumers will go for PayPal if it’s available as a cashier option. On top of this, the e-wallet has top-notch results when it comes to mobile usage, and this will only provide positive results considering the general increase in mobile users browsing the internet and making payments on the go.
This e-wallet is a popular choice with online casino sites, poker sites and sports betting organisations. Due to perks such as a loyalty program, they are able to get more users enthused to engage with their brand. Although it isn’t currently as big as PayPal, this has real potential to change over the next few years. Their cashback program is also something PayPal doesn’t offer.
How does PayPal compare?
As PayPal is a huge e-wallet service, it is accepted as a cashier option by more online merchants. It has a cleaner reputation than some of its competitors and has an official bank status due to it being based in Luxembourg. With low fees and a highly user-friendly mobile interface, there’s a lot going for PayPal that set it head and shoulders above its competitors.
One of the main reasons people will choose Skrill over PayPal, particularly when it comes to choosing an e-wallet for online casino deposits and withdrawals, is the fact that the verification process only takes up to a day. In contrast, the setup for PayPal can take a few days, which doesn’t work as well for those who are impatient to start playing casino games. Similarly, Skrill is offered in more online casinos than PayPal, making this option a no-brainer for people who want to get started with an account. This higher availability of the service also means that Skrill will have more experience with online casino customers than PayPal.
How does PayPal compare?
Although Skrill is excelling in certain areas, PayPal has remained strong as a general payment option since it was launched. As many people will already have PayPal and not always want to set up multiple e-wallets, they may simply look for casino sites which accept PayPal instead of settling with Skrill and going through another verification process. In terms of fees, PayPal wins against Skrill, as the fee is lower for withdrawals with PayPal, and while Skrill charges for transferring money between accounts, PayPal does not.
Those wanting a high level of security will opt for Bitcoin as their payment method of choice, as unlike PayPal, this cashier option can be completed with total anonymity. The seller fees are much lower than they are with PayPal, and the nature of this currency means it isn’t influenced by external factors such as financial recession. Due to the nature of cryptocurrency meaning it has no centralised authority, some people may prefer this over a more traditional payment method.
How does PayPal compare?
The benefits of using Bitcoin are clear for those who have the technological expertise to handle it, but most people won’t want to take on learning about a new kind of currency when they simply want to create a casino account and start playing. This means that PayPal wins out when it comes to simplicity, convenience and accessibility. There are also lower fees involved with PayPal, as Bitcoin users who want to sell their money for government issued currency will incur a fee. This means that any winnings from online casino games would be subject to a fee before they could be released into a traditional bank account.
Best PayPal Casinos
This popular casino operator accepts PayPal as one of its payment methods, on top of other varied options such as Visa, MasterCard, Neteller and WebMoney. Players can enjoy a large welcome bonus and many games, including live dealer choices.
Mr Green Casino
Thousands of gambling fans visit this site every day for their gaming fix, and they can make deposits with PayPal, Visa, bank transfer, Neteller and more. Furthermore, this operator landed Casino of the Year for three years in a row.
If you reside in the UK, Germany, Ireland, Finland, Sweden, Austria or Gibraltar, then PayPal will be listed as a payment option. Once you’ve made a deposit, choose from a variety of casino, live and sports betting games.
A household name for many, this brand recognises the importance of varied payment methods, so PayPal is on the list. They offer several choices for players, including pokies, live casino and table games, plus sports betting.
If you like using e-payment methods then you’re spoilt for choice at 32Red, as they offer Neteller, Skrill and EcoPayz on top of PayPal. There are hundreds of pokies games on offer here, plus a variety of jackpots to keep things interesting
Which casino sites can I use PayPal with?
Before signing up with an online casino, be sure that they offer your payment method of choice to avoid frustration further down the line. If this method is PayPal, be aware that not all casinos offer it, and you should check the cashier options first to see if PayPal is included in the list.
Is PayPal the only e-wallet I can use?
Not at all. There are plenty of other options available if you feel that PayPal isn’t right for you. For example, you can go for Skrill, Neteller, Entropay, Apple Pay, PaySafeCard, Poli or Ukash. It’s important to do your research before selecting an e-wallet, which includes finding out if your selected casino accepts this payment method. For example, while PayPal doesn’t include transaction fees, Skrill and Neteller are more widely available at online casino sites.
Is a PayPal account expensive?
There are no costs involved if you have a personal account. However, if you receive money for an item or service, a fee of 2.99% could apply. If you want to withdraw money from your PayPal account to your bank account, you won’t be charged, but there may be a small fee if you want the funds in the form of a cheque.
What are the deposit and withdrawal limits with PayPal?
This is a question that applies to the limits imposed by a casino site more than PayPal itself. To find this out, go to the cashier section of the site and see what the limits are. That being said, PayPal is strict when it comes to gambling, so there could be a daily maximum limit in place when it comes to the amount of cash you can transfer on a daily basis.
Will I be charged for deactivating my account?
Fortunately, if you decide that PayPal is no longer for you, there isn’t a deactivation fee involved. All you have to do is shut down your account and delete the app from your mobile device.