Created in the early 2000s, the PayPal payment method is now used worldwide. True alternative to the bank card and the checkbook, PayPal was one of the first methods of payment known as the alternative to be massively accepted by the casinos online. But how to use PayPal in an online casino? Are there new casinos with PayPal as a deposit or withdrawal method? How to withdraw winnings using PayPal? With this article, you will know everything you need to know about how PayPal works at your favorite online casino.
PayPal is an American e-wallet and e-payment company, founded in 1998 as Confinity and merged in 2000 with X.com, another e-wallet company founded by the famous Elon Musk. The company is a pioneer in currency transfer services. With the rise of the Internet, there was a need to find a way to make financial transactions more fluid, as traditional banks were not at all up to speed on the subject. PayPal grows quickly and is listed on the stock exchange in 2002. A few months later, PayPal is bought by eBay for 1.5 billion dollars. eBay wants to make it its unique electronic payment method, to facilitate transactions on its e-commerce platform. In 2015, the company separates from eBay and becomes independent again. It is now the first alternative payment platform to traditional banks in the world. It is a very versatile payment method, which is one of the preferred variants for punters and 100% secure. It also allows you to send your money to over 190 countries. The account is linked to your credit card and works like a parallel bank account.
How to use PayPal at an online casino?
Like any other e-wallet, PayPal is used at an online casino to deposit money into a player account as well as to withdraw winnings. To ensure that your future casino site accepts this payment method, we recommend that you select it from our table of the best online casinos that accept PayPal.
Is there a specific procedure for using PayPal at online casinos?
The procedure for depositing money into your player account and withdrawing winnings is the same for all payment methods. The only difference is the time frame and any restrictions that may apply to each payment method. In addition, using PayPal at an online casino is generally considered to be one of the fastest payment methods.
PayPal for the deposit
Directly from the “bank” or “cashier” area of your player account, select the PayPal deposit method. Then choose the amount you want to credit to wager your own money on the roulette, blackjack, poker, slot machine tables as well as any other online casino game. Remember: playing for real money has its risks. If you’re worried about going over your limits, get help from the online casino concerned or from dedicated associations to play responsibly.
PayPal for withdrawal
Again, you can choose to withdraw your winnings via PayPal from an online casino, as long as the casino accepts this payment method. Paying out winnings via PayPal at an online casino credits your PayPal account, minus certain fees that the online casino is free to set. The good news is that, like any other alternative payment method, the PayPal transaction is usually processed quickly. If in doubt, check the terms and conditions of use of PayPal at your online casino.
Costs using PayPal at online casino
Unfortunately, every innovative solution has its downside. In the case of PayPal, we are concerned about the fees that are charged for each deposit into a PayPal account (unless you use a personal payment, which is impossible at an online casino). That said, given the convenience of using PayPal in a virtual casino (as with many other types of transactions), the few fees that are applied are reasonable.
Is there a deposit fee?
When you deposit money into your online casino account, the casino has no interest in charging you for this transaction. As long as the online casino accepts PayPal as a deposit method, we have not noticed any particular fees being applied. However, if you do, we strongly recommend that you switch to one of the online casinos listed in our comparison table of the best casinos with PayPal.
Are there any fees for withdrawals?
Let’s be clear: casinos that charge a fee for withdrawing winnings via PayPal are still rare. But (because there is always a but…) the general use of PayPal is subject to processing fees. These fees vary throughout the year and are currently about 3% but can change at any time. Specifically, if you release $100 of winnings and wish to be paid by PayPal, you will receive approximately $97. In other words, withdrawing winnings via PayPal does incur fees, but not necessarily from the online casino (although some unscrupulous sites take advantage of this payment method to add a “processing fee”).
Casino Paypal: Advantages and Disadvantages
Even though the transaction fees on withdrawals can sometimes be high (these fees are mostly implemented by casinos when withdrawing via PayPal to encourage you not to withdraw your winnings), PayPal offers a high level of transaction security. They are the best in the world in this area. The PayPal account can also be connected to your bank account, credit, or debit cards. It is therefore very easy to fund your casino account via Paypal or to make transfers. It can also be used as a back-up financial account. This way, you can keep your bank accounts for your living expenses separate from the PayPal account for the casino. Finally, both deposits and withdrawals are instantaneous, so you can avoid the waiting time that the traditional banking system imposes when you win the jackpot and want to collect your winnings. In addition, the customer support is really good and if you have any problems with your real money withdrawals, they will be quickly resolved.
Is it safe to deposit or withdraw money from an online casino with PayPal?
PayPal is one of the many payment methods considered secure, that is to say, that its operation of electronic wallet limits the risks of exceeding the threshold when you play money. In addition, you will receive an email with every PayPal transaction, whether at an online casino or elsewhere. If you did not initiate the transaction, you can immediately contact PayPal customer service to stop the transaction.
Nevertheless, we can only recommend that you select an online casino with PayPal that is secure, i.e. that encrypts its data with complex encryption. Never use your PayPal account in plain sight and do not give out your personal identifiers. In case of doubt, the PayPal customer service is reachable over a wide range of hours.
Paypal bonuses in online casinos
It is possible to take advantage of Paypal among the various casino payment methods if you live in a country where the market is not regulated. You should know that if you open accounts on platforms such as Bwin or Bet365, you will be able to take advantage of Paypal payments. Some of these sites offer Paypal casino bonuses on your deposits of up to 15%. Paypal casino bonuses are a good way to earn cash easily, so it’s worth taking advantage of them.
Does this payment method limit access to casino games?
On the contrary! By depositing money via PayPal into your player account, you can even benefit from deposit bonuses, depending on the period or the online casino you choose. Our ranking of the best casinos with PayPal allows you to benefit from special offers, boosting your playing time! In addition, it should be noted that the processing time of a transaction by PayPal is very fast (a few hours in general, or even immediate for some online casinos).
Our opinion on PayPal as a payment method in a casino
PayPal has largely won over the hearts of online casino players for its simplicity, speed, and reliability. Unless you voluntarily request it, it is not possible to exceed your wagering limits in a hurry with PayPal. Finally, the PayPal account will allow you to deposit money or withdraw winnings at an online casino, but it can also be used for other daily transactions. Play safely and enjoy the adrenaline of online casino games with our selection of the best casinos with PayPal!
PayPal Casino FAQ: the answers are here
✅ How does PayPal work?
PayPal is an alternative payment method that works like an electronic wallet. As such, you can make payments at stores that accept PayPal as well as at many online casinos.
✅ How to create a PayPal account?
Signing up for PayPal doesn’t take more than a few minutes. Once your PayPal account is created, you will need to have it verified. This step takes a few business days.
✅ Which casinos accept PayPal?
Almost all online casinos accept PayPal as a method of depositing money and withdrawing winnings.
✅ How to withdraw my winnings with PayPal?
Simply select this method of withdrawal and comply with the terms and conditions for releasing winnings of the casino concerned, knowing that each casino is free to apply the conditions of its choice. If you find that the constraints associated with withdrawing winnings via PayPal are too great, move on and play at another online casino.