Who still uses cash and physical card to pay these days when we have Paypal? Alright, maybe we still do use credit and debit cards, but I believe most of us have started to transition into the usage of e-wallets.
If you do not know what an e-wallet is, fret not. An e-wallet is not that different from the cards we use, the user will store money in an account that they create online to make purchases as they deem fit.
With many different e-wallet options surfacing in the past few years, such as Google Pay and Samsung Pay, the most popular and well-known option is still PayPal. If you’re wondering whether you can use Paypal at online casinos and casinos that accept PayPal, keep reading!
What Is PayPal?
Being the biggest payment company in the world, PayPal has 429 million active users and has made $5.2 billion in payment transactions in the first quarter of 2022, it goes to show how widely received PayPal is in our current society.
Most would have come to know PayPal, however, if not, then you’d have most likely known eBay, the parent company of PayPal.
With the convenience of making payments online or offline, most would consider using PayPal as it has had a good reputation within the past few years. Many business owners use it for their business transactions, allowing them to buy and sell online and offline seamlessly.
With PayPal, there is little that you can’t pay with, and that goes for online gambling too.
However, PayPal is also one of the many companies that abide by the rules of the countries in which they are located and operate, this goes to say that not every casino will allow the usage of PayPal as a payment method.
But not to worry, as all these will be covered in our subsequent points below. For a start, we will cover where PayPal is available to use.
Approved Countries On Usage Of PayPal For Gambling
Some of the countries that allowed their citizens to use PayPal for gambling include the United Kingdom, Belgium, Finland, Greece, Italy, Spain, Austria, Denmark, France, Ireland, Portugal and Sweden.
However, some countries forbid their citizens from using PayPal. Such countries are the United State of America, India, Turkey and Egypt.
However, there are some exceptions for Americans depending on the state they live in.
How To Deposit With PayPal?
To deposit with PayPal, you only need to go through 4 steps, making it simpler than a credit card.
Follow the steps here:
- Choose PayPal as your payment method
- Enter the amount to deposit
- If applicable, insert promotions, coupons or bonus code
- Click submit
As simple as ABC, now you are one step closer to putting down your bets. Moving on, you’ll be relocated towards PayPal’s website to enter your account details for login and subsequently for approval of payment.
Upon approval, payments will be cleared fast, almost instantaneously.
There may be limitations depending on the casinos, but most allow for deposits between $10 to $10,000. To be sure of the rules and regulations, read up on gambling reviews by players before deciding on which casinos to use.
For usage fees, most of the sites available will subsidise the incoming payments. However, there will be some sites that still charge a fee for the usage of different payment methods.
Cashouts differ from site to site, do expect a fee of $10 to $25, which is on top of what PayPal may charge.
As mentioned, making payments through PayPal is simple and easy, a fast and relatively cheap payment method.
Payment Alternatives
For countries that do not allow PayPal as a payment method, some of the recommended options will be to use a credit or debit card. If available, gift or prepaid cards might be an alternate solution too. For financially literate people, the option of using Bitcoin is present. Last but not the least, money transfer services may be the best option to rely on.
As there is no apple-to-apple alternative for Paypal due to the e-wallets having to abide by certain countries’ laws, there are only different options available for users to explore for their gambling usage.
Advantages And Disadvantages Of PayPal
If you are still sitting on the fence about the idea of paying using PayPal, take a look at the pros and cons then decide for yourself.
Pros of PayPal
PayPal is easily accessible. The majority of the people can create an account as it is free. PayPal is for more than online gambling, it is for all your spendings and bill payments if required. Other than that, deposits are mostly cleared instantly. If you choose the right gambling site, the deposit fees will be covered by the gambling sites. Most sites offer minimum and maximum limits that fit most budgets so you do not have to break your bank to gamble a little. Also, PayPal filters out sketchy sites, especially in places where online gambling is not legal. Therefore, you can trust sites that accept PayPal as a payment method. For fantasy sports fans, PayPal is also accessible. With the possibility of deposits in PayPal, there is the chance of using it to cash out your winnings. Lastly, PayPal is considered to be a very secure method of payments online.
Apart from the above-mentioned points, there are other benefits of using PayPal as an e-wallet, such as cashback on debit card purchases.
However, PayPal is not just rainbows and sprinkles, there are cons to using it.
Cons of PayPal
Some of the cons include the fact that PayPal is not available at illegal and sketchy sites. If you do not choose correctly, PayPal may directly or indirectly charge fees for the sites you use.
To fund the PayPal account, one will have to use their debit card or bank transfer, and by doing so, there may be fees attached (for PayPal to make money). Thus, it might be more reasonable for people to deposit money into their gambling accounts using other methods such as credit cards or bank transfers. PayPal is also not available on every single website, be it legal or illegal. Lastly, PayPal has a reputation for freezing accounts randomly, be it the customer did something wrong or not. Upon seeing several gambling transactions, they may choose to investigate the customer to ensure there is nothing suspicious.
These are some of the downsides of using Paypal as a payment method. Balancing the pros and the cons should assist you in coming up with a decision on whether or not to use it as a payment method for your gambling uses.
Conclusion
Do you think PayPal is trustworthy? Some may agree that it is a payment method that many have tried and tested, while others may not. Although it is safe, versatile and available for online gambling, the decision still lies within the hands of the user.
Putting aside the convenience of PayPal, it would be better if more countries allowed the usage of PayPal. However, that is something PayPal can not control.
Therefore, unless you live in a restricted country or there is a better alternative to funding your games, PayPal is a payment method that you should give a shot as a payment method, be it for everyday usage or gambling purposes.
Do not shoot it down before you try it.