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.
