PayPal is one of the oldest payment solutions on the internet. It was unveiled to the public in 2002. Originally part of eBay and mainly used to quickly process Ebay purchases, PayPal grew to become a payment method on all kinds of websites globally.
One of the advantages of Paypal is how it gives you the ability in any currency. You can either send money to your PayPal account or use it to pay for good directly from a linked credit card or bank account.
This is just scratching the surface! Keep reading to find out the best casinos for Paypal, and everything else you need to know while using this method.
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Using PayPal as a deposit method
PayPal online casino deposits are quick and easy. All you need is a fully set up PayPal account, that is most of the work up front. Once you have money on your PayPal account or a card or bank account linked to it so the service can quickly access funds, payments through PayPal are instant on the side of the online casino. Where available, there are no restrictions to receiving welcome bonuses when using PayPal.
PayPal isn’t offered as a payment method very frequently, however. The reason for this is that as a company regulated by financial bodies, PayPal demands a certain safety from the websites it works with. This is a good sign for you as a gambler, on the other hand. You can be sure that an online casino that offers PayPal adheres to the highest standards of security.
PayPal deposit step by step
If you have ever used PayPal before, you will already know that the largest part of payments through PayPal actually happen on the PayPal website. As such, there is no large difference on your casino account to using any other payment method.
- Navigate to your casino account’s payment screen
- Select ‘PayPal’
- Enter the amount of money you would like to deposit
- Click ‘Deposit’/’Confirm’
- A separate window will open or the page will redirect to PayPal
- Enter the email address you use with your PayPal account and your password
- Select whether you would like to use your card or bank account for this transaction. If you have funds on your PayPal account, you can also opt-in or out of using them
- You will be redirected to your online casino or the separate window will close
The money will appear in your casino account instantly. It may take several days for PayPal to deduct the money from your bank account or for it to show up as a credit card charge.
Using PayPal as a withdrawal method
PayPal withdrawals work the same way as regular deposits. Like many e-wallets, Paypal isn’t always offered as a withdrawal method.
Where you can withdraw with it however, you have to look out for the crucial difference between PayPal, Skrill and Neteller – PayPal withdrawals take much longer.
How fast are PayPal withdrawals?
Unlike other e-wallets, PayPal withdrawals don’t appear instantly on your PayPal account. As a highly regulated provider of financial solutions, PayPal has to check transactions in a rather lengthy security process.
As a result, receiving money to your PayPal account usually takes just as long as receiving casino withdrawals to your bank account.
2 to 5 working days are the norm.
PayPal withdrawal step by step
To withdraw money from your online casino account using PayPal, there isn’t much you need to do.
- Navigate to your casino’s account page/ withdrawal screen
- Select the amount of money you would like to withdraw
- Select PayPal
- Enter the email address you use with your PayPal account
- Some casinos may ask you to reconfirm with PayPal on a separate screen
Pros and cons of using PayPal
One of the undeniable drawbacks of PayPal also leads to an advantage. You have to trade withdrawal speed for high security.
- Very secure
- Allows you to manage your gambling funds from an account separate to your bank account
- Easy to use
- Instant deposits
- Usable from your desktop PC or mobile casino just as easily
- Slow withdrawals
- Not available at many casinos
- Small service fees for payments
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PayPal payments for UK gamblers
Many casinos with their operations in the UK offer PayPal. After all, it’s a well-established service in the UK. Online casinos licensed by the UKGC dedicate themselves to customer safety, as such offering a particularly secure payment method makes sense.
PayPal is offered in over 200 markets across the world, and making payments in other currencies is easy. PayPal will automatically convert your native currency to one your casino accepts. For this, there is no fee. PayPal does however charge you a small service fee for receiving payments. With around 2%, this is lower than most other services of this kind, as well as credit cards, but it applies to every incoming transaction. If you add the money you might lose through exchange from a different currency when playing at a casino that doesn’t deal in GBP, this adds up to quite the loss you need to keep in mind.
As we have mentioned a couple of times, PayPal’s biggest strength is its safety. Transactions are thoroughly vetted. Should you have issues, you can contact the customer service. PayPal is also known for a great customer safety policy. If you pay an online casino or anyone else through PayPal and don’t receive your goods (in the rare case that the money isn’t deposited in your online casino account), you can open a dispute case through PayPal in order to get your money back.
PayPal vs. Skrill for online players
As safe as PayPal is, Skrill could potentially be a better alternative for UK gamblers. The British company was designed specifically with online gambling in mind and has since evolved quite a bit. Skrill works like PayPal – you pay money into an online e-wallet, from which you can then deposit funds into your online casino account. Withdrawals with Skrill are also more often an option, even though these often come with withdrawal limits. Skrill lists bonus offers at casinos and has tools to limit spending. It isn’t quite a strongly regulated as PayPal. This means that withdrawals to your Skrill account are instant. However, Skrill comes with one big disadvantage, too. Many casinos don’t accept deposits via Skrill when they offer welcome bonuses. You can use Skrill as a deposit method after you have used your casino welcome bonus, but for the bonus itself, Skrill accounts are often ineligible.
Alternative payment methods to PayPal
The only real problem with PayPal, if you are happy with their customer service, is the withdrawal time. Other services, such as direct competitors Skrill and Neteller, offer more additional bonuses. payPal offers discounts with some services, Skrill and Neteller have their own credit cards with rewards system and online casino bonuses. Payments directly to and from your bank account take just as long as PayPal, but that may mean exposing your gambling activity on your statements, which not everyone is comfortable with.
Many people already have a PayPal account, as you can use it on many websites around the internet. Thus it would be most comfortable to stick with it if you already have one. The limited availability as a payment method at online casinos makes this difficult, however. That’s why we have compiled a list of recommendable online casinos that accept PayPal.