PayPal’s Policy Towards Online Casinos
The one potential snag with online casinos and PayPal is that every single online casino accepts PayPal but you’ll find that nearly all reputable ones do. In fact, the mere fact that a casino takes PayPal can be an excellent sign as to its overall security and reliability. PayPal imposes strict requirements on businesses using its services and supervises them actively. If they receive a number of valid complaints regarding a specific online casino, it will ban their account and cease working with them.
From the point of view of gambling providers, the most notable fact about PayPal is that it works only with online casinos that have a gambling license in the country of the player. For example, a user with a PayPal account from the United Kingdom will be allowed to deposit from his PayPal account only if the online casino has a gambling license in the United Kingdom. The costs of obtaining a gambling license in each of the European countries is considerable but it’s an excellent sign that you’re dealing with a reputable online casino.
From the casino’s point of view, PayPal puts hurdles in their path but it’s a solid trust sign for users, and even though this payment provider has more strict requirements for them, they know that offering payments through one of the most popular ewallet in the market translates in convenience for their users.
Paypal Updates May 2021
PayPal is launching a group of new features which are said to include: high-yield savings accounts, Check-cashing services and stock-investing capabilities.
Since 2019, Paypal wasn't allowed to be used in Germany for online gambling purposes. Thanks to a new regulation coming in 2021, users will now be able to use this service again.
In May 2021, PayPal reported a 29% revenue increase for its first quarter, compared to their prior year period. Payments volumes also increased by 46%.
Since the beginning of 2021, PayPal has expanded its operations portfolio in the U.S. Allowing users to buy, sell and check out with cryptocurrencies.
On April 5th, 2021. PayPal announced the complete acquisition of Curv. “Curv is a global trusted provider of digital asset security and compliant cloud service.”
Pennsylvania residents can now bet and gamble online using Paypal at Borgata online casino.
PayPal announced on April 20th, 2021, that customers can now buy, hold and sell cryptocurrency directly within the Venmo app with as little as $1.
How To Use Paypal At Online Casinos
Opening a PayPal account is a straightforward affair. All you need to get going is a valid email address. Once you’ve set up your basic account, you then have options for connecting it with whichever credit card or bank accounts you choose.
When it comes to actually using your PayPal account with online casinos, there are a few key points to bear in mind:
Deposit and Withdraw: Most of the providers we recommend will accept PayPal for both deposits and withdrawals, but you’ll want to keep an eye out for conditions here. Some online casinos will only allow you to deposit via PayPal, for example. Other casinos may impose withdrawal restrictions such as only being able to withdraw via PayPal when the amount involved doesn’t exceed your initial deposit. Always be sure to check the small print before signing up to a casino.
Another aspect to keep in mind in this regard is the cashing out time. With PayPal, it’s usually much faster than other alternatives (1-3 days), whereas credit card withdrawals can take almost a week.
Minimum Deposits: You’ll usually be asked to deposit a minimum amount of between $10-$25, but there are exceptions to this general rule.
Paypal is available in 200 countriesCountries where PayPal is accepted: PayPal is widely present around the world, It operates in more than 200 countries and supports more than 25 currencies. However, online casinos with PayPal options don’t accept deposits and withdrawals from all countries. Locations where you can usually expect things to work are: Germany, Spain, UK, Ireland, Italy, Portugal, Finland, Denmark, Austria and Sweden. Remember that online casinos can only offer a PayPal functionality in those countries where they hold a valid gambling license.
Deposit Bonuses: Some online casinos give different amounts of deposit bonuses (in percentage terms) depending on which deposit method you use. For example, Playtech online casinos usually give a 15% deposit bonus for PayPal and 10% to credit cards.
Deposit Fees: Not all casinos are generous, however. Some casinos will actually charge you a deposit fee for using PayPal. For example, Betfair charges a deposit fee of 1.5% when PayPal is used.
Pros And Cons Of Using PayPal At Online Casinos
As with anything in life, there are advantages and disadvantages to using PayPal with your online casino account, in the table below we summarize all the factors you should take in consideration before selecting Paypal as your banking option at online casinos.
Ease of use: PayPal is definitely easier to use than most other payment methods. You simply choose to deposit, enter the relevant sum, provide your account details, and it’s done straightaway. You’ll be able to see the transaction in your account instantly.
Security: PayPal is one of the juiciest targets for cybercriminals in the world but their track record in terms of security over the years is exemplary. They regularly crack down on attempted fraud in both the online casino space and elsewhere. A sign of how robust their procedures are in general is that even during a major eBays security breach in 2014, PayPal remained secure.
You’re probably already using it: PayPal is incredibly popular as a general online e-wallet so there’s an excellent chance you already have a funded account you can use.
Licensing requirements: As mentioned previously, PayPal requires that casinos are fully licensed in countries where they wish to allow gamblers to use PayPal. This is good news from a user point of view as it means you know for a fact the casino is fully regulated.
Not all online casinos accept PayPal: As you could see from our breakdown of software providers above, not all online casinos accept PayPal. Many of the ones who do not allow it are also the ones who offer the most attractive deposit bonuses.
Not possible in all countries: As we noted before, countries where PayPal can be used with online casinos are slightly limited. So, we highly advise users to make a quick research to make sure the service is available on their country of residence.
Online Casino Software Providers You’ll Find At PayPal Casinos
Imagine walking into a casino only to discover it doesn’t have any games. That’s what online casinos would be like if it wasn’t for the software providers. It is these creative geniuses who create the games that are featured at online casinos. While a few PayPal casinos feature games from a single provider, most offer games from multiple sources. Some online casinos have partnered with dozens of providers which enables them to boast libraries consisting of over 3,000 games. There are loads of reputable and innovative game developers out there. Let’s take a look at three of the industry’s best.
Microgaming is a pioneer of the online casino industry. The company was established in 1994 and is believed to have developed the very first online casino. They also played a huge role in the development of mobile gaming and virtual reality casino games. Microgaming has released hundreds of titles over the past quarter-century. Some of their earlier releases like Gladiator Gold and Fruit Slots remain among the most popular slot games of all time. One of their most successful creations, Mega Moolah, was released in 2006.
In 2015, this progressive jackpot slot set the Guinness world record for the biggest online casino payout in history. A lucky British soldier hit a jackpot worth nearly €18 million. In all, Microgaming’s progressive jackpot network has paid out well over €1 billion.
There is a lot more to Microgaming than slots. They create excellent casino table games, poker, and specialty games as well as a sportsbook platform and live dealer games. Aside from winning countless awards, one of their most important achievements was playing a critical role in the creation of eCOGRA. This brought higher standards to an industry that was struggling to earn the trust of a wary online gambling public. When a PayPal online casino displays the eCOGRA Safe and Fair Seal, players know the site operates with honesty, transparency, and integrity.
If you like playing at online casinos, there’s a good chance that you have at least heard of Betsoft. The company was founded in 2006 and quickly earned a reputation for producing high-quality games. In particular, Betsoft is well-known for creating stunning 3D graphics and incredible animations. Slot games like The Angler, The Slotfather Part II, and Weekend in Vegas are loaded with sights, sounds, and interesting storylines that keep players immersed in the action.
Betsoft’s inventory of casino table games ranges from variants of Blackjack, Roulette, and Baccarat to a variety of casino poker games and dice games. Betsoft has also produced a number of other exciting games like Skratcherz and Virtual Racebook 3D.
An example of Betsoft’s ability to stay ahead of the curve is the Shift Platform. Realizing that Flash Player has become outdated, Betsoft switched its focus to HTML 5 which is supported by almost all computers and mobile devices. It runs on most browsers without needing any third-party plugins. All you need is a modern browser and an internet connection. The Shift Platform integrates a cutting edge animation engine that operates and loads much faster than Flash. Despite this breakthrough, Betsoft will still offer their Flash games so that people with older machines can still have access to their favorite Betsoft titles.
Another respected giant of the casino software industry, NetEnt’s collection of over 200 mobile-friendly games are featured at the world’s best PayPal casinos. NetEnt is a member of eCOGRA which means you can trust that the games are 100% fair. Additionally, NetEnt only provides its products to the most reputable online casinos. NetEnt started to configure their most popular games for mobile devices in 2011 after foreseeing the explosion of mobile gaming. Now, all of NetEnt’s games are available for desktop and mobile devices.
The games are almost identical on both platforms. The most noticeable differences are the menus and action buttons which have been reconfigured and optimized for mobile screens.
NetEnt has produced one of the largest gaming collections in the business since it launched over 20 years ago. Branded games like Narcos, Vikings, and Jumanji have become fan favorites while Gonzo’s Quest, Starburst, and Dead or Alive remain popular at PayPal casinos around the world. NetEnt is even making its mark with live casino games. Even though they don’t have an overwhelming number of table games, NetEnt still has a good variety of them. Those who want to go after a life-altering cash prize love that this multi-award-winning provider has created one of the biggest progressive jackpot networks on the planet.
PayPal Rating As A Funding Method At Online Casinos
In this section, we will go over ratings assigned by our experts towards PayPal as a payment provider for your online casino games, covering how PayPal fairs in a variety of topics that are of utmost importance to any player looking to find the best option out there. We always encourage you to compare these ratings against other options to have a better understanding about all the characteristics in which PayPal stands out as a funding method for your betting activities.
Overall rating | 7
Speed | 10
Customer Service | 9
Costs | 6
Accessibility | 8
Popularity at online casinos | 2
Alternatives To PayPal For Funding Online Casino Accounts
As convenient as funding your online casino account using PayPal is, it’s not the only way. International online casinos are famous for giving players plenty of payment options
If you have a bank account, you probably also have a debit card. Did you know that most online casinos accept debit cards? They do. You can even cash in on some great bonuses when you make an instant deposit using your debit card. Visa and Mastercard are the two most commonly used brands, but there are others. Unlike credit cards, debit cards do not allow you to exceed the amount you have in your bank account. While many issuing financial institutions charge a small transaction fee, those charges are far less than they would be if you were to use a credit card.
Making a deposit or a withdrawal using a debit card is the same as using a credit card. When you enter the banking section of your account and choose the “Deposit” option, select your debit card from the list of payment options. Among other things, you will need to provide the card number, expiry date, the three-digit CVV number on the back, and the amount you wish to deposit. The money is instantly credited to your online casino account once you confirm the transaction. Make sure you claim any available bonuses when you use a debit card to make your deposit.
Neteller has offered an easy and hassle-free payment solution for over 20 years. Neteller is essentially an eWallet that supports over two dozen major currencies. It only takes a few seconds to open a free Neteller account and you may fund it immediately using up to 50 different options. Neteller is one of the most widely used payment methods at online casinos. Deposits are instant and they usually qualify for various bonuses. Unlike some other payment options, Neteller also facilitates online casino withdrawals which are typically processed within a couple of days.
Of course, the speed and convenience of Neteller transactions come with a small price. Funding your Neteller account normally involves a charge of about 2.5%. However, you won’t be charged any fees to transfer money from your account to an online casino. Most online casinos do not charge you to make a withdrawal into your Neteller account, but you’re looking at a $10 fee when you withdraw from your Neteller account back to your bank account. You should be aware that you need to verify your age and identity before you can withdraw funds from your Neteller account. A scanned copy of your passport and a utility bill should do the trick.
Bitcoin as an alternative to Paypal
People couldn’t do a lot with their Bitcoin during the early days of cryptocurrency. Then, a few online betting sites started to accept it. Since then, Bitcoin has become one of the best ways to fund online casino accounts. There are several advantages to using Bitcoin. The high level of privacy and anonymity make it an attractive alternative to other payment methods. This is especially true for online casino fans who live in countries in which online gambling is frowned down upon. Because Bitcoin payments are peer-to-peer, there are no middlemen and transactions are processed very quickly. The fees are also low to non-existent and Bitcoin deposits usually qualify for bonuses.
There are a couple of drawbacks to using Bitcoin and other cryptocurrencies. For starters, Bitcoin is highly volatile and prone to extreme fluctuations in price. Furthermore, Bitcoin isn’t accepted at all online casinos although the number of Bitcoin-friendly sites is on the rise. Getting started with Bitcoin is a straightforward process. Start by finding a secure Bitcoin wallet in which you store your Bitcoin. Next, open an account at a reputable Bitcoin exchange like Coinbase or Kraken. You may then proceed with the purchase of your Bitcoin. You can buy Bitcoin using a wide range of payment options. Credit cards, debit cards, and eWallets like PayPal are commonly used to purchase Bitcoin. Now you are ready to make a Bitcoin deposit at your favorite online casino.
What’s Going On With PayPal Casinos And What We Can Expect In 2021
A great number of online casinos accepted PayPal back in the late 1990s and early 2000s. In fact, PayPal was the most widely used payment option at online casinos by 2003. That same year, PayPal voluntarily stopped processing transactions with gambling sites. PayPal implemented new policies and once again began processing transactions with online casinos in 2010. PayPal continues to process these transactions but only if the account holder lives in a country in which online gambling is legal. It’s also worth mentioning that PayPal only offers its services to online casinos that are fully licensed. This means you can have a great deal of confidence when you see the PayPal logo at an online casino.
It’s taken a bit of time for online casinos to rekindle their relationship with PayPal. However, more and more betting sites are accepting it these days. This includes many of the online casinos that have opened up in the United States. Anyone who has visited an American-based online casino knows that those sites offer very few payment options compared to most international sites. Speaking of the big international sites, they have been rather slow to adopt PayPal. Fortunately, this trend is turning as sites like Ladbrokes, 888, and other industry titans have embraced it.
Since spinning off from eBay in 2015, PayPal has been aggressively strengthening its international business through various acquisitions. Revenue has nearly doubled while net income has increased fourfold. There are over 305 million active accounts spread throughout 202 markets, and they are responsible for billions of dollars worth of transactions. PayPal has also expanded its horizons by adding such services as PayPal Credit, PayPal Mobile, and PayPal One-Touch. You can expect PayPal to continue with this approach through 2021 and into the foreseeable future.
One thing that makes PayPal such a great payment option is the relatively low fees. The cost of conducting transactions with PayPal is lower than most other eWallets and it’s certainly lower than using a credit card. Moving money from your PayPal account to your bank account is faster too. While we are told that standard withdrawals take 2-4 business days, it often takes a little over 24 hours. PayPal also offers express withdrawals which allow you to access your funds through an ATM within minutes. Increased convenience, lower fees, faster withdrawal times, and an industry-leading Buyer Protection Policy sets PayPal up nicely going forward. The expansion of online gambling in the United States bodes well too.