One of the world’s most famous and widely used online payment systems, PayPal is known
to millions.
The service, which first 4️⃣ made its name in the UK when auction site eBay
sprung up in the early naughties, has a global user 4️⃣ base and is used for countless
transactions on the web, as well as in real world stores. With a PayPal 4️⃣ account set up
and tied to your bank account or credit card, it’s possible to shop anywhere you see
the 4️⃣ PayPal logo.
In addition, PayPal enables small businesses including sole traders to
sell goods and services online, with PayPal handling the 4️⃣ 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 4️⃣ of the largest of its kind in the
world. It’s popular at auction sites, ecommerce stores, casinos and other sites. 4️⃣ The
company launched in 1998 and was quickly snapped up by eBay.
In 2014,R$228 billion was
sent via PayPal in 26 4️⃣ currencies and 190 countries. In the process, it netted PayPal
almostR$8 billion in profits. Today PayPal has over 100 million 4️⃣ users. As evidence of
the might of PayPal, its second IPO in 2024 saw the company valued at a staggeringR$47
4️⃣ billion.
How Paypal Works
Signing up for PayPal is free. Once you’ve created an
account, you need to link it with a 4️⃣ credit card or bank account in your name. Select
the bank account option and you’ll be required to verify your 4️⃣ account by looking out
for a small sum that PayPal deposits into it. Log into PayPal, enter the amount that
4️⃣ you received and that will be your account verified.
Once you have a PayPal account,
you can send money to friends 4️⃣ and family free of charge. When paying for goods and
services over the web, the fee per transaction is absorbed 4️⃣ by the seller, so you
shouldn’t be charged anything extra. Some sites however will apply a surcharge for
PayPal payments 4️⃣ to cover their costs.
Using Paypal to Deposit Funds with a Casino
While
there are many casinos where you can use PayPal, 4️⃣ it’s not as popular as Neteller,
Skrill or MasterCard. For various reasons which include the commission that is charged,
PayPal 4️⃣ is less popular with casino operators than other payment types.
One of the
things that PayPal sellers – especially those on 4️⃣ eBay – grumble about most is the
amount that is deducted in PayPal fees. This hasn’t been enough to stop 4️⃣ customers from
using PayPal, but in saying that with sites such as eBay they have little choice.
Casino operators do 4️⃣ have a choice, which is why many have elected not to use PayPal.
If
PayPal is your preferred payment mechanism, the 4️⃣ good news is there are still many
casinos where you can use it to deposit funds into your account. Look 4️⃣ out for the
PayPal logo appearing in the footer of the website or on its Deposit page.
To add funds
to 4️⃣ a casino account using PayPal, log in to the casino, visit the page marked Deposit
or Cashier and select PayPal 4️⃣ as an option. You’ll then be redirected, either in the
same window or via a pop-up window, to PayPal’s website.
Here 4️⃣ you’ll need to log in
with your PayPal email address and password, confirm the amount of money you wish to
4️⃣ send and hit submit. The transaction should clear straight away, subject to the funds
being in your PayPal account.
If you 4️⃣ don’t have sufficient funds in your PayPal account
but have it linked to your bank account via a debit card, 4️⃣ you’ll still be able to
complete the transaction, as PayPal will simply draw the sum straight from your bank
(presuming 4️⃣ of course that there are sufficient funds in your bank). With the
transaction completed, funds should clear immediately into your 4️⃣ casino account,
whereupon you’ll be able to start gaming right away.
The Pros and Cons of Paypal
If
PayPal is your only 4️⃣ means of paying for goods and services online, you’ll be limited
when it comes to casinos. You will find some 4️⃣ casinos that will accept PayPal, but the
majority won’t. That said, PayPal is extremely handy for customers who don’t have 4️⃣ a
credit or debit card or who simply don’t like submitting their card details on the web.
PayPal doesn’t give 4️⃣ you total anonymity, but it certainly prevents your credit card
number and bank details from being shared with casino websites.
One 4️⃣ detail that vendors
will be able to see however is your address as it appears on your PayPal account.
With
deposits 4️⃣ clearing instantly and no fees to pay, there are certainly benefits to using
PayPal at an online casino. When it 4️⃣ comes to withdrawals, you can again use PayPal,
though there may be a delay of a few days before the 4️⃣ funds show up in your PayPal
account.
The disadvantages of using PayPal extend to more than simply the narrow range
of 4️⃣ casinos that accept it. There’s also the possibility of casinos levying a surcharge
to cover their costs, and there’s also 4️⃣ the fact that PayPal isn’t as anonymous as some
payment methods. That said, PayPal will provide a degree of privacy, 4️⃣ and will certainly
prevent gambling-related billing details from showing up on your bank statement or
credit card bill.
Final Thoughts on 4️⃣ Paypal
PayPal is a highly convenient means of
paying for products on the web. Despite mass adoption, it’s still more synonymous 4️⃣ with
ecommerce than gambling, however.
If you’re an active PayPal user, you may find it
handy to play at a casino 4️⃣ that accepts PayPal. In the UK in particular there are
gambling sites that are happy to accept PayPal. In the 4️⃣ rest of the world, you’ll
struggle to find a great selection of PayPal-friendly casinos however. When you do, you
can 4️⃣ look forward to deposits clearing instantly and no fees to pay provided the casino
hasn’t added any voluntarily.
Due to the 4️⃣ size of the company and the security measures
it has in place, PayPal is at least a safe means of 4️⃣ sending money, or as safe as any
method can reasonably be.
FAQ
What is PayPal?
PayPal is a global payments system that
enables 4️⃣ you to send money to friends, family and online vendors.
How does PayPal
work?
PayPal is linked to your credit card or 4️⃣ bank account. Funds can be sent from
these sources to PayPal and then from PayPal to the ultimate destination, be 4️⃣ it an
ecommerce store, auction site or casino.
Is PayPal safe?
Provided you keep your PayPal
login details secure and make sure 4️⃣ your email account isn’t compromised, PayPal should
be completely safe to use.
Which casinos accept PayPal?
Most casinos don’t accept
PayPal, but 4️⃣ there are some that will. Check the banking section of the site to
double-check before signing up.
Is there a deposit 4️⃣ limit when using PayPal?
Unless the
casino has placed a deposit limit when using PayPal, you are only limited by the 4️⃣ amount
of funds in your PayPal account, or in your bank if it is linked to your PayPal via a
4️⃣ debit card.
Are there any drawbacks to using PayPal?
PayPal isn’t accepted everywhere,
and there are some countries where the service is 4️⃣ not available. In addition, PayPal
doesn’t provide as much privacy as other payment systems such as e-wallets.
Are there
any alternatives 4️⃣ to PayPal?
Yes, loads. Try Neteller or Skrill. These work slightly
differently from PayPal, but are accepted at many more casinos.
