PayPal Betting Sites: FAQ
PayPal is arguably one of the most widespread financial methods used by gamblers worldwide to deposit and withdraw their funds to and from their accounts on betting sites that accept paypal. The easiest way to transfer money to a sportsbook, casino or poker room from one's PayPal account is through an existing balance. A PayPal balance may be topped up via a transfer from another PayPal user or sell items online using an auction platform e.g. eBay.
Apart from the methods mentioned above, there are many other ways to transfer money into your PayPal account. These include, for example, an instant electronic check that may be sent directly from one’s bank account. In case you are trying to make a large transfer, this may be carried out via bank wire. Those gamblers who are based in Europe may transfer funds using a credit or a debit card such as the PayPal Extras MasterCard. On the other hand, transferring funds to an account on a regulated poker or casino platform via a debit or credit card is not available to those players who are residing in the United States.
Are There Any Fees for Using PayPal on PayPal bookmakers?
Online betting websites typically don’t charge users any fees for depositing funds into your online account via PayPal. Whenever you use a credit or a debit card to transfer money to your PayPal, this will cost you 2.9%. On the other hand, whenever you transfer money directly from your bank account or already have the amount you need in your PayPal, you won’t have to pay any additional fees.
Is It Possible to Deposit Money via PayPal without an Account?
In order to fund your online betting account through PayPal, you must register an account. The registration process is really quick and straightforward and shouldn’t be too difficult to figure out even for novice users with little or no experience at all.
Is It Possible to Use Somebody’s PayPal Account?
It is not. Only the account holder exclusively must own the PayPal you use to top up your betting balance.
Could PayPal Be Used to Withdraw Money?
As soon as you manage to make a deposit from your PayPal account, you will also be able to withdraw your winnings back to your PayPal account from PayPal betting sites.
How Could I Withdraw Funds from PayPal?
You may withdraw your winnings from your PayPal account via electronic check or a check by mail. In addition to this, PayPal offers a debit card you can pay for purchases at thousands of retailers who accept card payments. Alternatively, you may take your cash out at a cash point.
Is It Secure to Deposit Money on betting sites that accept PayPal?
PayPal is an exceptionally safe e-wallet, which is why millions of users worldwide choose it as their preferred method of payment. If compared to making a transfer directly from your bank account, PayPal features another layer of security between the betting operator and the player’s financial data.
What Are the Pros and Cons of Using PayPal?
What makes PayPal so remarkable is the fact that its deposits are usually instant. These deposits may be carried out via credit and debit cards or an electronic bank transfer. PayPal also may be used for purchases on the online platforms such as eBay. This makes PayPal a lot more flexible and thus more helpful than most other e-wallets. A user’s PayPal account may be improved by transferring money from an individual or an organization. On the other hand, one of PayPal’s drawbacks is the fact of additional fees attributed to deposits through debit and credit cards. It should also be noted that many users complain about PayPal being slower than some other e-wallets when it comes to withdrawals from PayPal bookmakers.
In Which Geographical Locations Is PayPal Available?
PayPal is available in most European countries including Austria, Belgium, Denmark, Finland, France, Greece, Ireland, Portugal, Italy, Spain, Sweden and the United Kingdom. In the United States, using PayPal for online gaming deposits is available exclusively to those gamblers who reside either in New Jersey or in Nevada. Gamblers in these states are not allowed to fund their betting accounts via credit or debit cards.
Why Is Depositing Money through PayPal Unavailable to American Players?
PayPal allows processing of gambling-related transactions solely in those areas in which is appropriately licensed to. Most European countries’ governments (those mentioned above) have licensed PayPal to perform such functions. Websites regulated by New Jersey and Nevada authorities are also allowed to accept payments through PayPal. Those online PayPal betting sites that are available to gamblers located outside of Nevada are not appropriately licensed and considered “offshore” by PayPal. PayPal does not process transactions with such platforms.
Is It True that PayPal Used to Process Transactions for Offshore Websites?
Between 2000 and 2000 there was a time when PayPal was seen as the primary e-wallet for offshore gaming platforms, which catered to American gambling enthusiasts who chose casino, poker or betting on sports events. When the case was taken to federal court, PayPal was eventually found guilty and was obliged to pay $10 million to the federal government.