Used by millions worldwide PayPal is a common deposit method for players all over the world. It is easy to use, secure and payments can be made within a few seconds. While they may not offer as many advantages of Skrill, PayPal remains a terrific way to get money on and off online casinos.
Best Paypal Casinos 2015:
|Rank||Casino||US||Rating||Sign Up Bonus||Review|
|1||BetVictor Casino||4.6/5||100% up to £175||Visit Site
Depositing at Casinos using PayPal
PayPal works just like a checking account you would have with your bank. You can either directly transfer money from your PayPal account to your selected online casino, or you can link it to your debit or credit card and PayPal will act as a intermediary gateway.
PayPal is the prefect option if you don’t want to leave your credit or debit card details stored at an online casino.
Deposits using PayPal at online casinos is instant and you can start playing within seconds. Depositing money on PayPal and to online casinos is free of any charges.
Withdrawing using PayPal at online casinos
Withdrawing is just as easy as depositing. Depending on the online casino you use, withdrawals can take between 12-96 hours on average and you are not charged for withdrawing by any online casino or PayPal.
However, please be aware that each time you have money sent to your PayPal account you will be charged a small fee by PayPal. Please check their website for more information, UK accounts can see the fees associated here.
Each country has their own fees but it is never usually more than 3%.
Can PayPal be used at every online casino?
No. Not all online casinos accept PayPal as a payment method. Each casino listed on this page accepts PayPal.
Which countries can use PayPal to gamble?
From the start of 2015, PayPal only accepts users from the UK, Ireland, Portugal, Greece, Finland, Austria, Belgium and Sweden to make gambling transactions using PayPal.
At this moment in time, players from the US, Australia and Canada cannot use PayPal as a way to deposit and play for real money online.
The pros and cons of using PayPal
As with all payment processes they have their good points and bad, this also applies with PayPal. Pros include:
Ease of use – To deposit at an online casino users only need to enter their username and password. No personal or card information is required.
Security – Unlike a credit or debit card, PayPal information is not stored on your account making it a safer way to deposit.
No costs – While PayPal do take a small fee for receiving money, setting up a PayPal account is free and there is no annual membership or costs associated with running one.
Multi currency – Unlike a bank account you can set your PayPal account to accept several currencies. If a casino only accepts GBP, USD or Euro, you can create separate wallets on PayPal to play with multiple currencies. PayPal conversion rates are also pretty reasonable.
Other uses – Several merchants outside of online casinos accept the this payment method, giving you plenty of options to spend your winnings.
Withdrawing – While the casino doesn’t charge you any money for withdrawing, PayPal does. Each time you receive money from another PayPal user, the eWallet will take a small cut of the transaction. This is usually anywhere between 1-3% of the total amount.
Freezing of accounts – If you are a high roller and a make a lot of big transaction monthly, PayPal has been known to freeze accounts. This usually done to protect against fraud and money laundering.
Internet reports state that some accounts have been unfrozen within hours while others taking weeks or months.
Withdrawal limits – All new accounts are placed with a monthly withdrawal limit. Currently this is set at $500 per month. While considered a con, the limit can be lifted pretty easily by following their steps.
PayPal is a solid option to deposit at online casinos for anyone who doesn’t want gaming transactions showing on their bank statements or want their bank account details stored online. It has become one of the safest eWallets in the world and is accepted by several online casinos.
If you are looking for PayPal friendly online casinos, check out the ones listed in this article. They all accept PayPal payments to play for real money.