PayPal is one of the most widely used payment solutions that is preferred when sending and receiving money. The company has gone a long way since its establishment back in 1998 as presently, there are over 267 million active PayPal accounts. PayPal is a banking solution that can be used by residents of more than 200 countries around the globe and supports 25 currencies, thus facilitating payments across various locations.
Offering simple and convenient payments, the digital wallet fits perfectly in the needs of casino enthusiasts. PayPal provides players with high levels of security, and prompt and stress-free deposits and cashouts, which comes to explain why such an overwhelming number of casino enthusiasts dig it.
How to Use PayPal at Online Casinos
The ever-increasing popularity of PayPal can be easily justified with the fact that the digital wallet provides players with means to send money or to get paid in a simple and safe way. Yet, before they get down to using the payment service, they should first sign up for a PayPal account, which only involves providing a valid email address, and their first and last names.
Then, casino enthusiasts will be prompted to pick their nationality and type in their address and date of birth. As soon as the sign-up process is completed, virtual players will need to link either a credit or debit card or a bank account, which is done for just a few moments. Now, PayPal users need to funnel funds into their digital wallet using the card or bank account they have linked. Gambling enthusiasts should not forget to verify their PayPal account before they get down to handling their payments.
After this, their PayPal account will stand ever-ready to be used when uploading funds into their gaming bankroll. Depositing funds to your casino account using PayPal is exceptionally straightforward and in practice, nothing can go wrong even if you are a first-timer.
If virtual players have already logged into their casino account, they need to head to its cashier, enter how much they would like to deposit, and choose PayPal. Once the transaction is submitted, players will be transferred to the official website of the digital wallet where they will be prompted to log into their account through the email address and password they have provided when they have gone through the registration process.
Payments requested via PayPal clear within almost no time as once the transaction is approved, the preferred amount will be taken from the balance of your PayPal account and will be added to your casino bankroll within a few seconds. As they can see, players will skip entering any of their financial details when handling their payments.
Casino enthusiasts can withdraw their winnings just as easily as once again, they will be required to visit the banking page of the casino, enter how much they wish to retrieve from their bankroll, and choose PayPal. Once the cashout is authorized, virtual players might be required to wait for several hours or up to several business days to receive their funds. Of course, they should take into account the fact that the financial department of the casino will need some time to check out if everything is alright with the transaction.
Taxes and Fees when Using PayPal at Online Casinos
One of the main reasons why such a large number of virtual players pick to handle their deposits and cashouts via PayPal is that it is one of the most cost-friendly banking solutions that are accepted by online casinos. Furthermore, the better part of the gaming operators choose not to burden their users who prefer to manage their funds through PayPal with extra fees, but this is worth checking out.
Opening a PayPal account will not cost casino enthusiasts an arm and a leg as it is cost-free. While domestic transactions are free-of-charge, players should be prepared that some extra fees will be applied when they opt for cross-border transactions. Depending on the territory where the interactive casino is based in, virtual players might end up paying €1.99 or €3.99.
Furthermore, gambling aficionados should make sure that the currency in which they have set up their e-wallet and the currency they have picked while signing up for an account at the casino is the same as otherwise, they will face a conversion fee that can go as high as 4%. When it comes to the transfers out of PayPal, most of the time, extra charges will not be applied. Yet, there are a handful of countries the residents of which will need to pay a fee of 1%. When transferring funds from your PayPal account to your debit card, a fee of €2 will be deducted from the amount.
As soon as players have verified their PayPal accounts, they will not be required to abide by any limits in terms of the amounts they are allowed to send. Yet, depending on the chosen currency, players may not be allowed to send sums that exceed $60,000 or $10,000. Yet, before players go for transactions via PayPal, it is recommended to inspect the transaction limits the casino has imposed.
Deposit and Withdrawal Timeframes when Using PayPal at Online Casinos
It is true to say that PayPal has many strong points, and time-efficiency is yet another of them. Casino enthusiasts will be comfortable with the speed at which deposits are carried out as they are unlikely to end up waiting for more than just a few minutes for the transaction to complete. Since deposits initiated via PayPal will be reflected in their casino bankroll right away, gambling aficionados will be enabled to start betting in their own time.
Much like with other banking solutions, cashouts requested via PayPal take more time. As mentioned above, in the first place, cashout requests should be set the seal on by the financial department of the casino. These timeframes range from one casino to another, but on most occasions, players’ funds will be released for withdrawal after 24 or 48 hours. Once approved, players’ cashouts might take up to 72 hours to complete.
An important thing players should not overlook is the time that is needed in order to load their PayPal account with cash. Players who have linked a credit or debit card to their digital wallet will not experience that long delays, but those who have linked their PayPal account to a bank account might find the waiting period a bit longer.
Advantages of PayPal for Gambling Transactions
The advantages of having a PayPal account are aplenty, especially if you intend on using it while playing casino games over the Internet. First off, PayPal is exceptionally accessible as the digital wallet caters to the needs of casino enthusiasts from over 200 countries worldwide and supports 25 currencies.
Another major benefit of the e-wallet results from the unmatched convenience of the payments. Wrapping up payments from and to online casinos is certainly not a headache as players just need to log into their PayPal account and authorize the transactions. With such a profusion of web-based casinos that allow their customers to perform payments via PayPal, it is unlikely that gambling enthusiasts will have a hard time finding a gaming website where such payments are supported, which is a major plus as well.
Furthermore, PayPal only works together with reliable casino operators and can be implemented into the banking systems of online casinos that operate in areas where gambling is not prohibited.
Perhaps, one of PayPal’s strongest points remains that it doubles also as a cashout solution. Unlike some payment processors that only allow players to bolster their gaming bankroll, PayPal enables gambling enthusiasts to cash out their winnings safely and in a hassle-free manner.
This leads us to yet another benefit of opting for PayPal while gambling, which has to do with the speed at which cash-ins and withdrawals are executed. When players opt for a deposit via the digital wallet, their funds will be attached to their casino bankroll at the speed of light. Most of the time, once players’ cashout request is affirmed, it may take between a few hours and several working days until their winnings are released.
Since the need to expose any of your financial information is eliminated, this should give players the full peace of mind that their sensitive data cannot be misused by swindlers. With that in mind, casino enthusiasts will also have the opportunity to gamble without unveiling their identity to the casino operator.
Disadvantages of PayPal for Gambling Transactions
Although PayPal has so many strong points, it does not go without a few drawbacks that are worth taking into account before you start using it during your gambling adventures.
To begin with, the usage of PayPal entails certain fees, which some interactive casinos might decide to pass on to their customers. In spite of the fact that the extra charges players can potentially face might not be that excessive, it would be best if they inquire into this in advance. Furthermore, casino enthusiasts should be mindful of the fact that extra fees will be applied on behalf of PayPal too if the casino they are playing at is based overseas.
Some casino mavens might find the requirement to sign up for an account before they could use the digital wallet a minor annoyance as well. Yet, the registration process takes no more than just a couple of minutes and is cost-free.
In spite of the fact that PayPal is such a widespread banking solution, virtual players from certain territories will not be permitted to opt for that banking solution while gambling. The company has a stringent policy against gambling activities that are prohibited and can be used exclusively by players who reside in jurisdictions where playing at online casinos is not against the law.
Mobile Casino Banking with PayPal
Casino enthusiasts who are looking for better convenience of their payments should look no further than PayPal as the company boasts dedicated apps for iOS and Android-powered devices that make transitions on the move a walk in the park. Thanks to these apps, owners of touchscreen devices who are enthusiastic about playing casino games will be able to add and remove funds from their gaming account in a trouble-free fashion.
Downloading the apps will not cost virtual players a dime, and in order to get them, they simply need to head over to Google Play or the App Store. While making use of the app, gambling enthusiasts will enjoy the secure transactions they are already used to getting from PayPal. Furthermore, PayPal users will be able to access their balance right away, regardless of their location, which is a major plus.
Something vital that should be noted is that gambling aficionados do not need to maintain another account if they would like to manage their funds using the app while being on the move.
The dedicated apps will not only allow casino enthusiasts to load their gaming account with cash within a matter of a few seconds but give them much better control over their funds. Whenever a payment to or from their PayPal account is made, users of the digital wallet will be notified about that, which allows them to keep an eye on their funds all the time.
Is It Secure to Use PayPal at Online Casinos
The safety of their sensitive information and funds is one of the aspects most casino enthusiasts tend to be apprehensive about while playing casino games over the Internet. PayPal depositors have nothing to fret about as the digital wallet is one of the safest banking solutions that are accepted by web-based casinos.
The safety of its users is a top priority for the company, and when players land on PayPal’s official website, they will find an entire page reserved for players’ protection. Furthermore, the company has presented its users with several tips that can help them further enhance their safety.
The company mountains the security of all its users around the clock to ensure that they will enjoy smooth and stress-free payments at all times. All transactions carried out via PayPal are monitored in order to ensure that any attempt for identity theft, fraud, or email phishing will be prevented. The security specialists of the company will be constantly on the alert for any suspicious activities in your account, and if such are detected, they will immediately take the respective measures to protect your funds.
Furthermore, deposits and withdrawals executed via the digital wallet are heavily guarded through an encryption technology that should give players full confidence that their funds and banking details are protected from misuse at all times.
What further helps strengthen the safety of the payments initiated via PayPal is the fact that gambling enthusiasts are not requested to unveil any of their banking information as transactions are handled after you provide the email address and password for the e-wallet.
Which Currencies Does PayPal Support
PayPal is one of the most widely available banking solutions gambling aficionados are presented with as it stands ever-ready for the needs of users from over 200 territories around the globe. The choice of supported currencies is vast as well as casino enthusiasts can select from AUD, BRL, CAD, CZK, DKK, EUR, HKD, HUF, INR, JPY, MXN, PLN, NZD, RUB, GBP, SEK, CHF, and USD, among others.
How Do I Set Up a PayPal Account
Establishing a PayPal account is both cost-free and takes almost no time. In order to start using the services of the digital wallet, gambling enthusiasts are required to head over to PayPal’s official website and fill in the short form that will pop up right away. Players will be good to go as soon as they link their credit/debit card or bank account to their e-wallet. Once the preferred amount is funneled into the balance of their digital wallet, gambling enthusiasts are fully prepared to get down to playing.
Can I Withdraw through PayPal
One of the biggest benefits of managing their funds via PayPal while gambling is that most of the time, the simplicity players will enjoy when adding funds to their casino account will translate also when withdrawing their winnings. Thus, the excitement from the bountiful betting session players have enjoyed will not fade when the time to cash out their winnings comes. Not to mention that in most cases, no extra fees will be attached, and the processing times will be greatly reduced, especially when compared to other payment solutions.
Is PayPal Available for Mobile Betting
The good news is that PayPal allows virtual players to carry out their deposits and cashouts straight from their tablet or smartphone. If you do not want to, you will not be required to use your laptop or computer when you feel like making a few stakes as instead, you can make use of the dedicated apps that are designed exclusively for smart devices that run on iOS or Android. Yet, payments can be made directly after players pick PayPal and enter the amount they want to upload as that way, they will be taken straight to the official website of the company, without using the apps.
Is Using PayPal while Playing Casino Games Online Safe
PayPal ranks among the most trusted payment processors available out there, and acquiring such a reputation did not come about overnight. No matter if players are moving money into or from their gaming bankroll, the digital wallet offers safety levels that are hard to beat. Furthermore, while utilizing PayPal, virtual players are never prompted to enter their banking information, which reduces the chances of fraud to a minimum.