PayPal is the world's largest e-wallet service with over 100 million members. Like all e-wallets, PayPal allows users to transfer money to and from other accounts without having to disclose sensitive financial information each time. Because of PayPal's strict policies, only the most prominent online casino operators generally allow it as a method for depositing and withdrawing. Currently, over 20 different online casinos accept PayPal.
No US Players
Although PayPal's primary market is the United States, Americans are strictly forbidden to use PayPal for online gaming transactions; as such, no US-friendly casinos take PayPal. If you are a US player looking for an e-wallet service, most online casinos should be able to accommodate you. Speak with a representative at your chosen casino to discuss alternative options that will work for you.
Obtaining a PayPal Account
In order to get a PayPal account, you will need to go to the PayPal website and click the sign-up link. You will be asked to provide information regarding your identity and verify your email, but the process should take no longer than a few minutes. Once you are inside your PayPal account, you will then want to take a few additional steps to add your bank account and credit card, as well as complete verification to remove your limits. Verification generally only takes a few business days to complete.
Depositing with PayPal
To make a deposit through your PayPal account at an online casino, first log into any casino that supports it. Make sure that you have selected real money play, then go to the casino's bank or cashier. Find PayPal under the deposit section and enter the amount you would like to deposit. You will then be prompted to log into your PayPal account to complete the transfer. Funds should be available to play immediately.
If you do not have enough money in your PayPal wallet to cover the cost of the deposit, you can have PayPal bill your credit card directly. To do this, you'll need to have added and verified your card beforehand.
Withdrawing via PayPal
Receiving a withdrawal of winnings to PayPal is easy. In fact, the only piece of information you will need to provide the casino is your PayPal username (email address). In some cases, the casino may also ask for identity verification documents.
Once you receive the funds in your PayPal account, you can use them to purchase goods at any merchant that accepts PayPal, or have the funds sent to you via bank transfer or cheque. Fees and availability may vary depending on your country of residence.
Advantages of PayPal
Very few online payment options have the reputation that PayPal does. When you use PayPal to deposit into online casinos, you can have full knowledge that your funds and your personal information are being treated with the utmost care. And since you only have to give your banking information to PayPal once, you don't run the risk of getting your data stolen.
Disadvantages of PayPal
Although PayPal makes it easy to set up an account, it still takes some time to get your credit card and bank account linked. In some cases, the verification process may take several business days to complete.