Available in 180 countries and 25 different currencies, PayPal is the world’s most popular eWallet solution.
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Here is a break down of what each casino that offers PayPal as a payment option can provide you with:
PayPal is one of those web entities that you feel has been around so long, you get to thinking that maybe it was a viable concern even before the internet was invented. This is not the case though – PayPal was actually created as part of another company called Confinity in 1999, to handle the parent company’s money transfer needs.
It was gobbled up by the-one-and-only Elon Musk in 2001 and merged with his X.com online banking company. The initial growth of PayPal was phenomenal, especially when it became the ‘online banking option of choice’ of an up-and-coming online auction site known as eBay. In 2002 PayPal was sold to eBay for a staggering $1.5 billion.
PayPal remains the number one online monetary transfer system on the internet, and generates roughly $8 billion in revenue every year. In 2014 eBay announced plans to cut the apron strings with PayPal and establish it once again as a company all on its own.
There are some online casinos that accept PayPal as a deposit and withdrawal method, but it is worth reading PayPal’s official stance on using funds for gambling:
“You may not use the PayPal service for activities that involve gambling… unless the operator has obtained prior approval from PayPal and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.”
This means the casino has to be approved by PayPal and requires a licence in the same country as the customer. So, if you are a player from the UK wanting to deposit through PayPal, you would need to register at a casino that’s licensed in the United Kingdom, not just Costa Rica, for example.
It will not surprise you to learn that the use of PayPal by US citizens in order to fund online gambling activities is strictly prohibited.
Anyone of course can set up a PayPal account, and all you need to enable you to transfer funds between two PayPal accounts is the email address associated with each account. However, when it comes to online casinos, things are a little different. An online casino is regarded as a merchant, and so a whole different set of rules apply to them than do to a personal account.
To be allowed to use PayPal as a payment method, an online casino needs certified approval from PayPal itself, and the only way they will receive that is if (a) they can prove that they ONLY accept payments from players in legal gambling jurisdictions, and (b) they can prove that they have the ability to block payments from players who reside in jurisdictions where gambling is not permitted. Only if the casino can prove both these criteria, might they be permitted to accept payments from PayPal accounts.
All the PayPal casinos below are legitimate and verified. Just double check if online gambling is legal in your territory before depositing! Players from most European countries, such as Germany and Denmark, can deposit through PayPal.
Typically, an online casino will request a minimum of $10-$25 to deposit through PayPal. Withdrawals are quick – anywhere from a few minutes up to three days, and several casinos offer exclusive bonuses for depositing through PayPal.
Why is PayPal so popular for casino transactions?
- It’s the biggest, and the longest established eWallet solution on the internet. Plenty of people have PayPal accounts – in fact anyone who has ever used eBay is more than likely to have a PayPal account.
- Setting up a PayPal account is so simple: all you need is an email address, a computer or smart phone device and internet access.
- You can transfer money between your PayPal account and your bank account or any other financial account virtually instantaneously.
- PayPal charges less fees than other eWallet services such as Neteller and Skrill.
How to fund your casino account using PayPal
Open up your favorite online casino and select ‘deposit’.
Choose ‘PayPal’ as your chosen deposit method and choose the amount of money you wish to deposit. You can fund your PayPal account via your credit or debit card or directly from your bank account.
You’ll be taken through to your PayPal account. Click the ‘Log In’ button to log into your account.
Check that the details of your deposit are correct, then click the ‘Continue’ button to complete your transaction.
You’ll then be taken back to your online casino, and your deposit should now show in your casino account. At most online casinos, PayPal transactions are processed instantly, or at least within a couple of minutes.
You now have some cash in your casino account to enjoy your favorite games!
Withdrawing to your PayPal account is just as easy. Go to the cashier and select withdraw. Typical limits are £10-£20 per transaction. Funds should hit your Paypal account within 24 to 48 hours, depending on your chosen casino’s withdrawal policy.
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