PayPal is the biggest online payment provider in the world, processing close to $600 billion worth of payments every single year. Businesses and entrepreneurs use it; it supports freelancers and small companies, and it facilitates payments in most industries and for countless products. Let's find out how PayPal casinos functioning, we will pass through deposits, withdrawals and fees that you may experience while using PayPal for online casinos.
Most importantly, PayPal is hugely popular in the online casino sector. It wasn’t always available for online gambling transactions. Still, it has openly embraced this sector for the last few years and is a favourite with countless casino gamblers.
Depositing with PayPal
To deposit, simply visit the PayPal website and sign up, using necessary details such as your email and address. You will be asked to add a payment method, such as a bank account or credit card. However, you don’t need to deposit money from this method into PayPal. While this can be done, it will only slow the process down as it can take five days for that payment to clear.
Instead, simply visit your chosen casino, click “Deposit”, look for “PayPal” and then sign in. PayPal will then draw money directly from your chosen payment method to make a deposit.
Withdrawing with PayPal
When you’re ready to withdraw, return to the Cashier, hit “Withdraw”, and select the amount. The casino will then withdraw your money directly to your PayPal account.All PayPal transactions are instant, but many casinos have a “pending period”. During this time, the payment will be monitored for potential issues relating to fraud and money laundering. This period typically lasts for just 24 to 48 hours but can run anywhere from 1 hour to 96 days.
Once it passes, the money will hit your PayPal account, and from there you can either “Withdraw” to your connected bank account or keep it in PayPal. If you choose to keep it, you can use these funds to make further deposits or shop at millions of retail sites.
PayPal charges various fees, including:
- Receive Money Locally: 1% to 2.9%
- Receive Money Internationally: Up to 4.4%
- Send Money: No Fee
PayPal Features and Benefits
What makes PayPal so unique, why do so many online casinos accept this payment method? There are actually many reasons for this, including:
- Reach: A massive reach sees PayPal being listed on the majority of online casinos, which means one account can give you access to many different games.
- Fees: PayPal has low fees when compared to many other payment methods, and you’ll pay a great deal less than you would with bank transfers and credit cards.
- Speed: Money is moved instantly, and most delays are the result of the user or the casino and not PayPal.
- Accessibility: PayPal is available in most countries, with support, language, and currency options for most of these countries.
- Bankroll: A bankroll is essential for keeping your gambling in check, and it’s something that all pros have. Your PayPal wallet can serve as your bankroll, as one account allows you to move money to and from multiple casinos.
- Mobile Support: All the features and benefits discussed on this page can be accessed on mobile, with dedicated, state-of-the-art mobile apps that simplify things even further.
PayPal Limits and Verification
There is a £10,000 limit on PayPal transactions, but this can be increased for premium and business users. You can send more than this in a single day, but if you want to send £30,000, for instance, you’ll need to make three payments of £10,000.
If you’re unverified, your options are limited when it comes to withdrawals and even more limited when receiving money. You can receive £2,500 before you need to verify your PayPal account, at which point you will be asked to:
- Confirm Your Bank: PayPal will send you a payment of £0.01. You then need to check your statement and input the 4-digit code that appears alongside this transaction. It may take a couple of days to show.
- Proof of ID: A passport or driver’s license must be scanned and submitted.
- Proof of Address: A utility bill or bank statement received within the last 12 months.
Verification can seem like a hassle, but the process is quick and mostly automated. We recommend doing this as soon as you join, thus avoiding any delays and frustrations in the future.
PayPal Customer Support
PayPal used to have a bad reputation for customer support and deserved every bit of that reputation. The support was slow, oftentimes unprofessional, and rarely helpful. In the last few years, however, everything has been revamped and improved. Paypal now boasts some of the best customer support in the industry.
The best way to get in touch is to log-in and select the “Help” icon followed by the telephone symbol. It will take you to a page that displays a unique, randomly generated code followed by a phone number. Just dial the phone number and then, when prompted, enter the code.
This puts you directly through to a customer service representative who speaks your language and has all the details of your account in front of them, thus saving you the trouble of navigating through endless options.
Additional PayPal Account Options
In addition to traditional web wallet services, PayPal also offers the following services that may appeal to individual users.
- PayPal Credit: Borrow a sum of money based on your PayPal activity, with low-interest rates and very few requirements.
- PayPal Working Capital: Aimed at entrepreneurs, freelancers, and small businesses, Working Capital lends users money that they repay with between 10% and 30% of every dollar they earn.
- PayPal Prepaid Card: A prepaid MasterCard that lets you add and move from to and from a physical card.
Summary: PayPal for Online Casinos
PayPal is one of the best online payment methods and an ideal choice for online gamblers seeking a safe, fast, cheap, and convenient way to move money around. You can establish a bankroll, take advantage of casino bonuses, and deposit and withdraw at will.
What’s more, if you become a verified and VIP user, you can benefit from a host of other PayPal features, including PayPal Credit (although we would never recommend using this to gamble with), and prepaid cards.
PayPal is not only the best, most significant, and oldest provider, it’s also the one investing the most time and money into improving its services, which has to be commended from a company that owns a monopoly and already has everyone’s respect.