The number of betting sites accepting PayPal for withdrawals has shot up in recent years, in line with the increased popularity of the famous e-wallet. That’s why sports betting with PayPal withdrawal has also become more available, and bettors don’t hesitate to use it at sportsbooks. Here’s your guide to getting your money out with PayPal and the key benefits of using it.
Whereas sports betting is primarily for entertainment, it also follows that if you’re depositing your hard-earned cash and gambling with it, sooner or later, you’ll also want to withdraw some or all of it after securing yourself some decent wins. So, choosing a good method to get your money out is important and that’s where sports betting with PayPal withdrawal comes into it.
The well-known US-based e-wallet is rapidly becoming one of the most widely-used payment options at betting sites around the world and we’re about to look at why that is, talk you through step-by-step on how to make a PayPal betting withdrawal and round things off by highlighting a couple of negatives when it comes to using it.
How to Withdraw Funds From PayPal Sports Betting Sites
PayPal features on the list of betting payment methods that allow you to make both deposits and withdrawals.
That means that if you have already selected it as a deposit method, most of the work has already been done. If not, you’ll need to register your PayPal account at betting sites with PayPal withdrawal at this stage to use it to get your money out.
For that, you’ll need to have a funded PayPal account. A good tip is to verify the account with PayPal, which will lift the standard £500 monthly limit. That way, if you need to make larger transactions at your Sportsbook of choice in the future, then that hurdle will already have been cleared.
Once your PayPal account has been set up for betting with PayPal withdrawals, you’re good to go in terms of making a withdrawal. Here’s how to do it.
- Log in to your betting account
- Go to the Banking section and go to Withdraw
- Select PayPal as your withdrawal method
- Enter the amount you want to cash out (it can be your full balance or just part of it)
- Confirm the transaction
In some rare cases, the betting site with PayPal withdrawal may take you to the PayPal site itself, where you may have to log in to your PayPal account before processing the withdrawal.
Advantages and Disadvantages of Using PayPal as your Betting Withdrawal Method
Let’s consider the pros and cons of using PayPal to get your money out and how it compares to other sports betting withdrawal options.
Advantages:
- Deposits are instant while withdrawals normally take a few hours; much quicker than with debit cards and bank transfers
- It’s now widely accepted as a payment option- for both deposits and withdrawals- at most UK betting sites
- PayPal is one of the more secure methods while being more anonymous than other options, as your bank statements will only show that transfers were made into and out of your PayPal account, not what you spent the money on
Disadvantages:
- It’s widely accepted at UK betting sites but not always in other countries
- Setting up a PayPal account involves linking it to your bank and passing a verification process, so if you don’t already have a PayPal account, it may take you some time to create and fund one
- Some welcome bonuses giving you deposit bonuses or free bets specifically say that deposits made with PayPal make you ineligible for the bonus(es)
While you can deposit using an alternative method to claim the bonus of your choice, check if the sportsbook allows you to change the withdrawal method to PayPal. Betting sites sometimes require that you withdraw using the same method that you used to deposit the funds.
We encourage you to read our expert sportsbook reviews before choosing your betting sites with PayPal withdrawal to sign up with.
