Paypal Gambling
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. PayPal & Casinos. According to official data, the company was founded in 1998. The founders of the brand were Max Levchin and Peter Theil. It is noteworthy that the original name of the service was Confinity. PayPal’s turbulent online gambling history. While PayPal can now process New Jersey online gambling payments legally, its involvement in the industry has not always been so cut and dry. In the early 2000s, when online gambling first started to grow popular, PayPal was the biggest iGaming payment transmitter on the globe.
PayPal is the most popular online wallet in the world, and it has once again become an option for some online gambling markets — including parts of the US.
After cutting off gambling-related transactions for several years, PayPal has reopened its services to regulated operators. The majority of legal, licensed online gambling sites now make use of PayPal.
Below are some of the basics about using PayPal in connection with online gambling.
Online gambling sites accepting PayPal in the US
Paypal is used extensively across betting, fantasy sports, and online casino/poker platforms.
Sports betting
All of the major online sportsbooks in the US use Paypal, including DraftKings Sportsbook and FanDuel Sportsbook.
Daily fantasy sports
PayPal also facilitates transactions related to daily fantasy sports. The contests are believed to fall under skill-game laws in most states, although there is a lack of legal clarity in some. Nonetheless, PayPal processes deposits and withdrawals for all DFS sites (such as DraftKings and FanDuel) in all states where they operate.
Online casino & poker sites
In 2015, PayPal started processing online poker and casino payments for WSOP NJ, WSOP Nevada and 888 Poker and 888 Casino, as well as Harrah’s and Caesars online casino. It was an important addition to help further differentiate the regulated industry from the unregulated one.
The list continues to grow, too, now including:
- Market leader Golden Nugget
- FanDuel Casino
To this day, PayPal remains the largest ewallet in the world, both for commercial transactions and those involving online gambling apps and websites.
Horse betting sites
Several of the regulated online horse race wagering sites in the US accept PayPal, including:
- TVG
- DRFBets
- TwinSpires
Read more about online horse betting.
PayPal Gambling FAQ
How do I fund a PayPal account?
Using an existing balance is arguably the easiest way to deposit to a poker room, casino or sportsbook. But if you’re starting with an empty PayPal account, there are several quick ways to fund it.
An instant electronic check can be drawn from a bank account, and larger transactions are facilitated via wire transfers. European gamblers may also use a credit card or debit card, including the PayPal Extras Mastercard.
The latter is not an option for Americans. Those in the US may not use a card to fund their PayPal account for gambling purposes.
Can I deposit using PayPal if I don’t have a PayPal account?
No. Players must create a PayPal account if they wish to use it as a deposit method. It’s a simple process that only takes a few minutes.
It’s also worth noting that many online gambling sites require the user account and PayPal account to be registered with the same e-mail address.
How do I withdraw from PayPal?
PayPal withdrawal options include electronic check and check by mail. The site also offers a debit card that may be used at most retailers and ATMs.
Why don’t I see PayPal as a withdrawal method?
PayPal will appear as a withdrawal option once a deposit is made using the service.
Are there fees associated with using PayPal at online gambling sites?
Online gambling sites typically do not charge a fee, and there is no PayPal fee for using an existing balance or funds transfer from a bank account. PayPal does charge 2.9 percent for transactions using a credit card or debit card.
Can I use a family member or friend’s account to deposit via Paypal?
No. The PayPal account used to deposit at a gambling site must belong to the account holder.
Is PayPal a safe way to deposit at gambling sites?
Yes. PayPal has a reputation as one of the very safest ewallets. It’s arguably safer than using a bank account directly, as it provides an additional layer of security between the gambling site and the player’s financial information.
What are the pros and cons of using PayPal?
Pros:
- Instant deposits
- Variety of deposit options, including credit card, debit card and electronic bank transfer
- Provides a buffer between the gambling website and financial information
- Widely accepted by large businesses, making it more useful than some of its competitors
- Balances can be created and transferred between friends and organizations
Cons:
- Deposit fees associated with credit card deposits
- Withdrawals can be slower than other ewallets
What countries use PayPal for online gambling?
PayPal is available for gamblers in Austria, Australia, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Portugal, Spain, Sweden and the UK.
Gamblers in regulated US markets can use PayPal for online gaming transactions, too, and it’s an option for sports betting and horse betting sites where permitted.
Read more about PayPal sports betting sites here.
Can US players deposit at a gambling site using PayPal?
PayPal only permits gambling transactions in jurisdictions where it is licensed, like Europe. Online gambling sites in Nevada, Delaware and New Jersey are also permitted to use PayPal as a payment option.
The gambling sites available to players outside of regulated markets are, by definition, unregulated. Often located offshore, PayPal does not do business with those sites.
Do DraftKings and FanDuel accept PayPal?
DraftKings and FanDuel are daily fantasy sports sites. Most state laws classify these platforms as a form of skill gaming. Therefore, PayPal’s legal opinion is that processing DFS payments is legal in all available jurisdictions.
Didn’t PayPal once process payments for offshore sites?
Yes. PayPal was once the main ewallet for offshore gaming sites that accepted US players. This included poker, casino and sports betting, processing these payments until late 2002.
The US government began investigating these transactions around this time, citing both the Wire Act and the Patriot Act. The legal pressure was likely a significant factor in PayPal’s ensuing sale to eBay. The new owner paid a $10 million civil fine to clear the slate with the courts.
Under eBay’s guidance, PayPal ceased all gambling transactions for a time.
History of PayPal in online gambling
PayPal was the first major ewallet on the internet, allowing easy financial exchanges between companies and/or individuals.
It quickly became the top choice for online gambling sites that accepted US players, representing a significant portion of PayPal’s total business. Gambling transactions accounted for about eight percent of PayPal’s entire processing operation in 2002.
At the time, PayPal was primarily building a base of customers in North America. That has changed drastically, with PayPal growing into an international giant that processes payments in over 100 countries.
eBay acquired PayPal in 2002, but the company has since split into two separate entities again.
eBay purchases PayPal
Part of eBay’s interest stemmed from the fact that PayPal is the most popular way to purchase an item on the online auction site.
The company stopped processing online gambling payments almost immediately after the 2002 merger, leaving the US online gaming market with a massive void. Firepay and Neteller stepped in to fill it, and all three of those companies ran into some legal trouble over the following years.
PayPal was an early target for a federal investigation, and it agreed to pay a $10 million civil settlement to dispose of the case. That amount was equal to the estimated profit PayPal made while processing online gambling payments.
PayPal returns to online gambling
PayPal/eBay steered clear of online gambling until 2009 before reapproaching the industry.
This time around, though, it only did business with sites that were fully legal and licensed in the jurisdictions where payments were processed. This generally meant that the UK was the only country where PayPal was available as a deposit and withdrawal option.
Betfair, a sports betting exchange, was the first online gambling site to use PayPal elsewhere in Europe. Maybe not coincidentally, Betfair never accepted US gamblers, even before the UIGEA took hold in 2006. Before that time, virtually every gambling site was transacting in the US.
Other online gaming companies followed suit, including 888, bwin, PartyPoker and PokerStars. In the time since, PayPal has continued to restrict its gambling transactions to legal, regulated markets.
The PayPal company was found over 18 years ago and has become a leader in the sphere of money transfers for purchases of physical bodies. It has a perfect reputation for high-quality money operations between a casino and the user’s account.
The corporation started its online payment services only in 1999. Before this, it specialized in the security software and was called ‘Confinity’. Nowadays the client base is over 8 million people.
Exceptional PayPal Casino Reviews
PayPal is one of the top liners in the world among e-wallets and the most beloved payment systems for gamblers. It is so popular in different spheres as it is absolutely free and user-friendly. Not so long ago it became one of the most regularly suggested by online houses.
The transactions are instantaneous and you are not expected to give any of your personal info to the gambling house. When you win, the money goes right to your balance at the very that moment.
Paypal Gambling
PayPal Casino Bonus Study
This payment method is also liked as the casinos offer some bonuses for using it. You can be awarded by a Payment Method Offer for your depositing via it. Usually, it ranges from 5% to 10% according to the rules.
Some web houses suggest another variant: on choosing PayPal as a preferable banking system at the gambling web-site, you can enter a special code to get the exclusive proposition.
First-Class Banking
Paypal Gambling Sites
The users that follow all the private security rules carefully can be sure of absolute safety and protection from fraud on the part of the company. All the transactions are conducted via the best encryption technology and the specialists check every operation carefully to monitor all the risks and mistakes.
The most common way of interference is “phishing”. These are e-mails from fraudsters that pretend to be your payment company and try to fish out some of your personal details. Be sure not to give them in the e-mail, it can be dangerous.
Paypal Gambling Usa
PayPal Exclusive Services
As already mentioned, the corporation has millions of users, but you may not doubt that the customer service is reliable and good enough to help you. The team is highly professional and competent. They work 18 hours a day on weekdays (04:00 – 22:00 by Pacific Time) and 14 hours on weekends (06:00-20:00 by Pacific Time).
You may contact them either by pressing the “Contact PayPal” button or by phone (if the number is indicated). Don’t get panic-stricken if a problem occurs, the support service is five-star and will answer all your questions.
Deposit Security Study
Depositing money into your account is done instantly. The first thing you are to do is to register your PayPal profile. This process is absolutely simple and wouldn’t take much time for you. Then, you are to put some money on it.
Next, you can go to the casino’s cashier section, select the necessary payment system and transfer funds to your casino account from it. If it is successful, you will receive a message about this.
Withdrawing Brief
The process of withdrawing is as straightforward as the depositing one. You have to enter the cashier of the selected gambling house and push a couple of buttons. There you choose PayPal as the preferable method for cashing out.
Enter some of your account information, the sum you are planning to get and approve the transaction. You will probably wait a few business days for getting your money.
Fees
Many gamblers often wonder if any fees or charges are taken for this web wallet usage. This point actually depends on the casino. They pay the fee to the company and in order not to harm their budget, they oblige this issue to the users.
The sum is nominal and it will be taken from your account now and then. An additional expense will be taken for withdrawing. The benefit from this transaction goes to PayPal.
Limits
The limitations concerning the minimum and the maximum amount for operations with funds are usually set by the casino. But it’s worth saying that the web wallet itself has relatively low borderlines. The max sum is $5,500 while MasterCard suggests up to $99,000 depending on the gambling house.
PayPal Casino Games to Play for Cash
Paypal Gambling Site
Nowadays the total of casinos that support this payment is abundant. They suggest entertainments of different types, like table games, slots, roulette and so on, and can vary depending on the provider as well.
Paypal Gambling Block
A brief investigation shows that there are big and famous ones which are exciting, user-friendly and safe. But the judgment that the service doesn’t accept PayPal is illegal or insecure is wrong. This only means that the ones support it are regulated and licensed for sure.