One of the world’s most famous and widely used online payment systems, PayPal is known
to millions.
The service, which first 🌧️ made its name in the UK when auction site eBay
sprung up in the early naughties, has a global user 🌧️ base and is used for countless
transactions on the web, as well as in real world stores. With a PayPal 🌧️ account set up
and tied to your bank account or credit card, it’s possible to shop anywhere you see
the 🌧️ PayPal logo.
In addition, PayPal enables small businesses including sole traders to
sell goods and services online, with PayPal handling the 🌧️ payments. Due to its
popularity, PayPal is offered as a payment method by a number of online casinos.
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The Origins of Paypal
PayPal is an
American alternative payments company that is one 🌧️ of the largest of its kind in the
world. It’s popular at auction sites, ecommerce stores, casinos and other sites. 🌧️ The
company launched in 1998 and was quickly snapped up by eBay.
In 2014,R$228 billion was
sent via PayPal in 26 🌧️ currencies and 190 countries. In the process, it netted PayPal
almostR$8 billion in profits. Today PayPal has over 100 million 🌧️ users. As evidence of
the might of PayPal, its second IPO in 2024 saw the company valued at a staggeringR$47
🌧️ billion.
How Paypal Works
Signing up for PayPal is free. Once you’ve created an
account, you need to link it with a 🌧️ credit card or bank account in your name. Select
the bank account option and you’ll be required to verify your 🌧️ account by looking out
for a small sum that PayPal deposits into it. Log into PayPal, enter the amount that
🌧️ you received and that will be your account verified.
Once you have a PayPal account,
you can send money to friends 🌧️ and family free of charge. When paying for goods and
services over the web, the fee per transaction is absorbed 🌧️ by the seller, so you
shouldn’t be charged anything extra. Some sites however will apply a surcharge for
PayPal payments 🌧️ to cover their costs.
Using Paypal to Deposit Funds with a Casino
While
there are many casinos where you can use PayPal, 🌧️ it’s not as popular as Neteller,
Skrill or MasterCard. For various reasons which include the commission that is charged,
PayPal 🌧️ is less popular with casino operators than other payment types.
One of the
things that PayPal sellers – especially those on 🌧️ eBay – grumble about most is the
amount that is deducted in PayPal fees. This hasn’t been enough to stop 🌧️ customers from
using PayPal, but in saying that with sites such as eBay they have little choice.
Casino operators do 🌧️ have a choice, which is why many have elected not to use PayPal.
If
PayPal is your preferred payment mechanism, the 🌧️ good news is there are still many
casinos where you can use it to deposit funds into your account. Look 🌧️ out for the
PayPal logo appearing in the footer of the website or on its Deposit page.
To add funds
to 🌧️ a casino account using PayPal, log in to the casino, visit the page marked Deposit
or Cashier and select PayPal 🌧️ as an option. You’ll then be redirected, either in the
same window or via a pop-up window, to PayPal’s website.
Here 🌧️ you’ll need to log in
with your PayPal email address and password, confirm the amount of money you wish to
🌧️ send and hit submit. The transaction should clear straight away, subject to the funds
being in your PayPal account.
If you 🌧️ don’t have sufficient funds in your PayPal account
but have it linked to your bank account via a debit card, 🌧️ you’ll still be able to
complete the transaction, as PayPal will simply draw the sum straight from your bank
(presuming 🌧️ of course that there are sufficient funds in your bank). With the
transaction completed, funds should clear immediately into your 🌧️ casino account,
whereupon you’ll be able to start gaming right away.
The Pros and Cons of Paypal
If
PayPal is your only 🌧️ means of paying for goods and services online, you’ll be limited
when it comes to casinos. You will find some 🌧️ casinos that will accept PayPal, but the
majority won’t. That said, PayPal is extremely handy for customers who don’t have 🌧️ a
credit or debit card or who simply don’t like submitting their card details on the web.
PayPal doesn’t give 🌧️ you total anonymity, but it certainly prevents your credit card
number and bank details from being shared with casino websites.
One 🌧️ detail that vendors
will be able to see however is your address as it appears on your PayPal account.
With
deposits 🌧️ clearing instantly and no fees to pay, there are certainly benefits to using
PayPal at an online casino. When it 🌧️ comes to withdrawals, you can again use PayPal,
though there may be a delay of a few days before the 🌧️ funds show up in your PayPal
account.
The disadvantages of using PayPal extend to more than simply the narrow range
of 🌧️ casinos that accept it. There’s also the possibility of casinos levying a surcharge
to cover their costs, and there’s also 🌧️ the fact that PayPal isn’t as anonymous as some
payment methods. That said, PayPal will provide a degree of privacy, 🌧️ and will certainly
prevent gambling-related billing details from showing up on your bank statement or
credit card bill.
Final Thoughts on 🌧️ Paypal
PayPal is a highly convenient means of
paying for products on the web. Despite mass adoption, it’s still more synonymous 🌧️ with
ecommerce than gambling, however.
If you’re an active PayPal user, you may find it
handy to play at a casino 🌧️ that accepts PayPal. In the UK in particular there are
gambling sites that are happy to accept PayPal. In the 🌧️ rest of the world, you’ll
struggle to find a great selection of PayPal-friendly casinos however. When you do, you
can 🌧️ look forward to deposits clearing instantly and no fees to pay provided the casino
hasn’t added any voluntarily.
Due to the 🌧️ size of the company and the security measures
it has in place, PayPal is at least a safe means of 🌧️ sending money, or as safe as any
method can reasonably be.
FAQ
What is PayPal?
PayPal is a global payments system that
enables 🌧️ you to send money to friends, family and online vendors.
How does PayPal
work?
PayPal is linked to your credit card or 🌧️ bank account. Funds can be sent from
these sources to PayPal and then from PayPal to the ultimate destination, be 🌧️ it an
ecommerce store, auction site or casino.
Is PayPal safe?
Provided you keep your PayPal
login details secure and make sure 🌧️ your email account isn’t compromised, PayPal should
be completely safe to use.
Which casinos accept PayPal?
Most casinos don’t accept
PayPal, but 🌧️ there are some that will. Check the banking section of the site to
double-check before signing up.
Is there a deposit 🌧️ limit when using PayPal?
Unless the
casino has placed a deposit limit when using PayPal, you are only limited by the 🌧️ amount
of funds in your PayPal account, or in your bank if it is linked to your PayPal via a
🌧️ debit card.
Are there any drawbacks to using PayPal?
PayPal isn’t accepted everywhere,
and there are some countries where the service is 🌧️ not available. In addition, PayPal
doesn’t provide as much privacy as other payment systems such as e-wallets.
Are there
any alternatives 🌧️ to PayPal?
Yes, loads. Try Neteller or Skrill. These work slightly
differently from PayPal, but are accepted at many more casinos.
