A PayPal Review – the Legendary Online Payments Method

There is no one who has used the Internet for more than a month and hasn’t seen a PayPal logo anywhere. This legendary e-wallet has been a household name for Internet-based payments, which has long been associated with the equally famous brand eBay. Today, betting sites that use PayPal continue to grow in number and many people as well as businesses have chosen this e-wallet platform as their all-time favorite.

How it All Began

Logo of PayPal - the biggest E-wallet offering deposits and withdrawals for sport betting.

PayPal is a USA based company that started its way in the distant year of 1998. Originally called “Confinity”, PayPal gained its current brand name in 2001, after going through several company changes. In 2002, after being listed on the international stock exchange, PayPal was purchased by the e-commerce corporation eBay, and designated as its subsidiary. After almost 12 years of mutual partnership, eBay decided to spin off PayPal as a separate entity. Regardless of PayPal’s agreements with eBay, the company continues to remain as the primary e-wallet platform for many people and organizations worldwide.

Sportsbooks That Accept PayPal Value Security

One of the main reasons why sportsbooks and online casinos like to use PayPal, is the high level of security. Betting sites that are very dedicated to preventing any type of money laundering schemes prefer the services of what is regarded to be the safest e-wallet provider online. PayPal is renowned for keeping customer information highly secure – any deposits made from a personal account won’t contain any sensitive financial details.

In Terms of Licensing

PayPal always makes sure that any gambling venues it is associated with, possess all necessary licenses and/or certifications for the hosting and operating games that involve wagering/staking of real money. Of course, all legal approval needs to come from administrations that fall under the governing laws of their registered residence. This piece of information could very well help punters and casino players to determine whether a casino is reputable – simply check out the deposit/withdrawal page and see if the website offers a PayPal method.

How Many Gambling Sites Use PayPal

With more than 200 million registered active customers, it is hard to say how much of them are sportsbooks; however, one thing is for certain. Even small, newly emerging casinos list PayPal in their payment money transfer options, as they can’t afford not to work with the most famous e-wallet on the planet. In fact, it would be a surprise that an online casino or sportsbook doesn’t work with PayPal. Here is a list of sports betting venues that work with the famous e-wallet company.

Best PayPal Betting Websites

Bookmaker Bonus Amount Min. Dep. Rating Visit
Bet365
100% in Bet Credits Up to £100 £5 9.6 /10 Join Now
New Customers only. Up to £100 in Bet Credits. Sign up, deposit £5 or more to your account and bet365 will match your qualifying deposit in Bet Credits when you place qualifying bets to the same value and they are settled. Min odds/bet and payment method exclusions apply. Returns exclude Bet Credits stake. T&Cs, time limits & exclusions apply.
888sport
100% £30 £0.1 9.3 /10 Join Now
10Bet
50% £100 £15 9.0 /10 Join Now
New Customers; Min. deposit £15 (no Skrill/Neteller); Bonus amount is 50% of deposit up to £100; 6x deposit and bonus turnover (min. odds 3/5 on singles and 2/5 per selection on acca bets), in 30 days, for bonus release; Some bet types don’t contribute to turnover; Withdrawal before turnover results in bonus cancellation; Terms apply; 18+.

* T&C’s apply. Click on Join Now for details.

Are There Any PayPal Apps

While sportsbooks that work with PayPal feature a “button” somewhere in the payment/withdrawal section of any online gambling venue, the e-wallet company has its own dedicated app. This is especially useful for punters who like to bet on the go, as with the PayPal app you will be able to manage the funds in your account flawlessly. Supporting over 100 countries, the app is more than capable to be used as a safe way to make a deposit at your sportsbook. The mobile features of this platform are something people shouldn’t overlook.

PayPal Deposit and Withdrawal Limits

While you can use your PayPal account to transfer any amount of money, sportsbooks that support this e-wallet platform have their own established minimum and maximum sum limits. Usually, the bare minimum varies between £5 and £10 (or their equivalent in other currency) and the upper limit at around £5,000 and £6,000. Transfers done by any other means, usually have different predetermined amounts, however in most cases with PayPal, the deposit and withdrawal limits are the same.

Platforms That Support PayPal

PayPal supports multiple operating systems and all devices with browser capabilities.

Living in a day and age where technology is evolving by the minute, came out the necessity of being able to access PayPal from a variety of devices. Today a person can access their account and manage it with the use of any type of computer or mobile smart device that runs on most Windows, iOS, and Android operating systems. This adaptability of PayPal is another main reason why companies decide to work with the e-wallet giant.

PayPal Sportsbook Bonuses

Sportsbooks usually offer a variety of promotions and bonuses if you utilize a specific deposit method. Depending on the betting site, a customer might find themselves in a possession of a sweet bonus should they decide to use PayPal as a way to put money in their account. Sometimes this reward can be a small cash boost, a free bet or any other bonus depending on the specific marketing campaign released by the sportsbook. Always be aware of the bonuses a specific payment method might provide you with!

The Limits and Benefits of Using PayPal

Just like any other payment platform, PayPal also has its good sides, as well as its drawbacks. In this case, however, the pros outweigh the cons significantly and it is why both businesses and private citizens prefer to use this e-wallet. In fact, out of all digital wallet users today, 79% of them use PayPal. Every fourth payment made with this platform is through a mobile device; the list goes on and on.

Fees and Payments for PayPal Sports Betting and Everything else

PayPal offers low fees and fast money transfers

All websites that accept PayPal as a valid deposit method, do not charge their users with any fee. Withdrawing any winnings from your PayPal account to your bank may have fees, depending of the jurisdiction you reside in. While this sounds very good, there are some scenarios where the company would charge its users; one of them, is if you want to send any cash in form of personal payment, through using a credit or debit card. Bear in mind, that some betting sites might have a minimum deposit amount when using this e-wallet.

The second event which is going to be charged is if you would receive money to your PayPal account (ex. you sold an item and received a money payment). Unless there are any other specifications for a fee, the usual charge comes at 2.9% of the transferred sum, plus an additional $0.30. Withdrawal transfers from sportsbook websites do not make any charges but depending on the way they are sending the money, PayPal might tax the transaction. To know for sure, always check the payment section in the sports betting site of your choice.

Account Status Drawbacks

PayPal is known to freeze accounts without warning. This fact is usually troublesome for USA residents, as online gambling in the United States is classified as illegal; even logging on to offshore sportsbooks is against the law. While this is indeed so, punters won’t have to worry if they reside in a jurisdiction where online gambling activities are allowed. In this case, PayPal would approve of a specific merchant, so you won’t have to worry about having your account frozen.

Cryptocurrency Conflict

PayPal doesn't accept Bitcoin payments.

It is sad to say, but Bitcoin and PayPal do not go hand in hand. In fact, the e-wallet corporation has a specific rule in its “terms and agreements” section, where Bitcoin is not considered as a tangible term. Furthermore, company rules state that any currency exchange actions (which also include any type of e-currency) are against the so-called Acceptable Use Policy. So far, there are no news if PayPal would support any cryptocurrency operations in the future.

There are quite a few recorded mishaps where PayPal users made the mistake to sell their cryptocurrency and demanded that a payment is sent via this e-wallet, but any arriving funds have been frozen or removed. If you’re not sure on what types of payments you can receive, make sure that you visit the Acceptable Use PayPal section that explains what types of activities may be prohibited.

The Known Benefits

The brand trends globally with a continuous rate, showing no signs of slowing down; and its progress is inspirational. Today PayPal supports more than 20 currencies and continues to be the most used digital wallet platform in the world and gives you the ability to send money to your friends or family for free. There are no monthly fees when using this e-wallet, and any fee rates would be flat; you won’t have to worry about making a wrong prediction for your account balance.

Transaction Speed Is Vital

One of the first reasons people use e-wallets in general, is because of the speed it provides them when depositing or withdrawing currency. A standard bank transfer would take from 3 to 5 days, “same day” transaction service providers can take up to 2 days, and PayPal transactions are usually done almost instantly. There are cases where a transfer could take a little bit longer, but it will still be much faster than any other conventional method.

In the End You Win with PayPal

With a supported dedicated POS terminal, PayPal has already entered another part of the industry where more and more merchants continue to create a digital wallet account for their business. With the eBay partnership agreement ending in 2020, it is expected that the e-wallet corporation would even further develop its system to a new high – attracting even a larger customer base.

Bonus up to:

£100 in BC*

New Customers only. Up to £100 in Bet Credits. Sign up, deposit £5 or more to your account and bet365 will match your qualifying deposit in Bet Credits when you place qualifying bets to the same value and they are settled. Min odds/bet and payment method exclusions apply. Returns exclude Bet Credits stake. T&Cs, time limits & exclusions apply.

Bonus up to:

£100*

New Customers; Min. deposit £15 (no Skrill/Neteller); Bonus amount is 50% of deposit up to £100; 6x deposit and bonus turnover (min. odds 3/5 on singles and 2/5 per selection on acca bets), in 30 days, for bonus release; Some bet types don’t contribute to turnover; Withdrawal before turnover results in bonus cancellation; Terms apply; 18+.

Bonus up to:

£30*

* T&C’s apply.

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