Between the dozens of deposit methods that are accepted at some sites but not others, the simple matter of funding your account and then getting paid sometimes seems unnecessarily complex. PayPal would like to simply things by acting as your one stop shop for managing your bankroll from beginning to end.
PayPal is a US-based company but does work with most of the world’s major betting sites as long as they operate in good faith and adhere to international gaming laws. PayPal processes payments in 26 currencies and operates in 206 countries, so there’s a very good chance it is an option where you live. Below is my list of the best PayPal betting sites ranked according to their overall reputations and betting options:
If you’re tired of remembering credit card numbers and security codes or struggling to find easy ways to cash out your winnings, PayPal is worth a look. With PayPal, you can manage multiple credit cards and checking accounts with one password. I’ve been a customer of PayPal for over 10 years now and am happy to recommend it to our good readers here at BestBettingSites.com.
Getting Started with PayPal
You need just two things to get started with PayPal: an e-mail address and a checking account or credit card. Then, head over to www.paypal.com to sign up for an account. Fill out the new account form, pick a password and you’re ready to go.
The next step is to link your bank account or credit/debit card to your PayPal account. Both work well, but linking a checking account will end up being the easiest and cheapest way to move money back and forth. Log in to your account, click on “wallet” at the top and then you’ll see options to link bank account, credit cards and debit cards to your account.
If you do decide to link a bank account to your PayPal account, you may have the option to just log in right there with your existing online banking account. PayPal works with many banks and if you’re able to log in to your bank to check your balance, you can use that same information to log in at the PayPal website and verify ownership. Otherwise, PayPal will ask you to type in your routing and account numbers. They will then send you 2 small deposits, which you will need to confirm later to prove that you are the owner of that account.
Once you have either a bank account or card linked to your PayPal account, you’re all done. Now you can log in to your favourite betting site any time, choose PayPal as your deposit method and then fund your account instantly. You can also request payouts directly to your PayPal account.
Pros and Cons
One of the reasons I’m a fan of using PayPal for online betting is because its list of pros is much longer than its list of cons. Some of the advantages that stick out to me include the following:
- Security: PayPal is a large, well-funded and experienced payment system. They keep your information safe and private at all times.
- Security Again: Depositing with PayPal results in the betting site never seeing your card or bank account information.
- Speed: Deposits are credited to your betting account instantly while withdrawals are often credited on the same day or several business days at the longest.
- Bankroll Separation: One thing I love about using e-wallets such as PayPal is the ability to keep my gambling bankroll separate from the rest of my money. Withdrawals are paid out to your PayPal account rather than cashed straight back to the bank where they would be mingled with your everyday spending money.
- Complete Solution: PayPal can handle deposits, withdrawals and everything in between. You can manage multiple cards and bank accounts with one password. You can even request a debit card linked to your PayPal account for instant access to your funds.
- Fees: Betting sites that accept PayPal do not charge fees for deposits or withdrawals.
- Mobile Friendly: PayPal is fully mobile friendly. Get the PayPal app for your phone and you can use that to check your balance, make easy payments and get paid.
The only major con that comes to mind is the fact that you have to sign up for an account and verify your funding source before you can use it to deposit. This takes a few days at the most, so it’s not a major problem. If you do NOT have a PayPal account and want to deposit right now, it would be faster to just deposit directly to your betting site with a credit card.
PayPal and Financial Safety
It’s natural to have questions about the security (or lack thereof) of any deposit method that asks to store your credit card or bank account information. While I can’t promise anything, I can say that PayPal is at least as secure as the bank you already use. No system will ever be completely impervious to hackers, but PayPal has a perfect track record to date and gives me no concerns as far as safety is concerned.
PayPal has been involved in the online payment business since 1998 and runs a reputable business. Millions of online stores (and an increasing number of brick-and-mortar shops) accept PayPal as a form of payment. EBay, Amazon and almost all the internet’s major retailers are happy to work with PayPal.
I can also assure you that it is significantly safer to fund any betting account with PayPal than it is to deposit directly with your credit card. When you deposit with a credit card, you send that information straight to your betting site and must count on them to keep your information safe. Big name betting sites are definitely safe places to play, but nobody has more experience in online security than PayPal. When you deposit with PayPal, the betting site never even sees your credit card or bank account numbers.
Should I Use PayPal to Play Online?
Yes, I am a fan and no, I’m not being paid to say this. I honestly just like PayPal. It’s a big company so I’m sure you can dig up plenty of complaints online, but millions of people use it every day to send and receive money. It is easy to use, adds security to your transactions and serves as a convenient method to receive your winnings. The few minutes you spend signing up for an account will be well worth it.