Things have changed considerably for lovers of gambling over the past few years. In less than a decade, online gambling has exploded in popularity and become a multi-billion dollar industry worldwide.
In those dark days before the revolution of always on broadband and omnipresent social media, trying to gamble online with real money was a precarious business and best avoided altogether. These days, online gambling is completely legal in many countries around the world, and properly regulated to ensure the safety of customers and businesses alike.
As online gambling’s popularity has increased, the number of available payment methods has also naturally expanded. One of the most popular funding solutions for many people is PayPal – a secure and convenient way of sending and receiving money online.
With a solid track record spanning more than fifteen years behind it, PayPal is the leading online e-wallet solution and works with 25 different currencies and in 180 countries world-wide. The company was taken over by eBay in 2002 and spun off into a separate company in 2014.
Though PayPal dominates the e-wallet landscape, there are solid alternatives out there that offer much of the same functionality. The most notable of these are Skrill and Neteller.
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 from the user’s point of view.
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.
Countries where PayPal is accepted: 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.
Online Casino Software Providers Who Accept PayPal:
The vast majority of online casinos are powered by software from a small group of recognised suppliers behind the scenes. Rather than trying to sort through potentially hundreds of different casinos when you’re trying to find one that accepts PayPal, it’s easier to divide them by which underlying software they use. Here’s a quick breakdown of three of the biggest providers.
- Microgaming Online Casinos With PayPal Microgaming is the most popular provider of online casino software and is in use on a huge amount of online casinos. Some of these accept PayPal and some don't. The most popular Microgaming online casinos that have PayPal are: 32red, Ruby Fortune and Spin Palace. 32red is a good example of a provider that is happy to accept PayPal. They allow deposits and withdrawals, have a minimum deposit of $10, and offer instant cashouts. Here’s an example of how PayPal options look with a 32red account:
- Playtech Online Casinos With PayPal Most Playtech online casinos also accept PayPal. The largest Playtech online casinos are: Will Hill, 21nova, Bellini, Casino Tropez, Paddy Power, Casino.com, Winner, Eurogrand, Betfair. To take one example, Eurogrand are happy to accept PayPal deposits and withdrawals, offer one-day cashouts, and are prepared to give a 15% percent deposit bonus. Here’s an example of PayPal options in action with a Eurogrand account. Betfair is another large Playtech provider who support PayPal. They allow deposits and withdrawals via PayPal, cashouts within 24 hours, a minimum deposit of £5 and charge a deposit fee of 1.5%.
- RTG Online Casinos and PayPal Real Time Gaming is the final software giant that we’ll cover. They’re another popular option with many online casinos and the best known online casinos that work on RTG are: Intertops Casino, Grande Vegas Casino, Slots of Vegas, and Slotsplus. Among those sites, however, it's much harder to find any that accept PayPal. For example, none of the providers we’ve just mentioned accept PayPal.
Pros And Cons Of Online Casinos And PayPal
As with anything in life, there are advantages and disadvantages to using PayPal with your online casino account. Let’s start with the plus points:
1. 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.
2. 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.
3. 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.
4. 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.
The advantages are pretty impressive and we definitely recommend at least experimenting with using a PayPal account with your online casino. There are, however, also some negative points to consider:
1. 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.
2. Not possible in all countries: As we noted before, countries where PayPal can be used with online casinos are slightly limited. The territories where it is usually no problem are: Germany, Spain, UK, Ireland, Italy, Portugal, Finland, Denmark, Austria and Sweden.
The Current Situation With US Players And PayPal
The situation regarding online gambling in the United States is still in flux and, as a responsible gambler, you’ll always want to keep one eye on potential legal issues. Federal law regarding online gambling in US gives individual states the authority to decide if online gambling is allowed in their jurisdiction zone. States such as Nevada and New Jersey have allowed it whereas it’s prohibited in other states. Unfortunately for American gamblers, PayPal deposits to online casinos are prohibited throughout the United States.
Alternatives To PayPal For Funding Online Casino Accounts
PayPal is far from your only option when it comes to getting money in and out of your online casino account. Here are some of the most popular alternatives:
Credit Cards: Both Visa and MasterCard are accepted in practically every online casino. Both cards offer world-class levels of security, convenience, and flexibility, in addition to a range of attractive bonuses and reward programmes.
Bank Transfer: So long as online gambling is legal in the country of the bank, you should have no problem transferring money to an online casino account or accepting withdrawals from an online casino. Bear in mind that the speed of transfer and associated fees could vary considerably depending on which bank you’re with.
Other e-wallet providers: As we mentioned earlier in the article, though PayPal are the biggest e-wallet provider, they’re far from the only one. You’ll find Netteller and Skrill accepted at many online casinos and other options such as Click2pay, Paysafecard, Ukash, and Webmoney are also occasionally available.
Before we finish up, it’s worth taking a few minutes to review PayPal’s recent past with a view to seeing what might be coming down the track. It’s been an interesting couple of years since the online payments giant officially split from eBay, and there’s a sense that some big changes that could well affect gamblers may well lie in the immediate future.
The first point of interest to casino fans is probably PayPal’s tentative re-entry into the online gambling market in the United States. It was a pilot programme and use on most sites is still prohibited in the terms and conditions, but it does show that PayPal are potentially eager to move further in this direction – a move that would be great news for gambling fans across the States if it should come to pass.
2016 also saw the announcement of much closer ties between Visa and PayPal in the form of an official partnership. The move was primarily about bringing PayPal into offline checkouts but also a sign that the company is much more willing to explore commercial partnerships post-eBay than was previously the case. Again, there’s a potential upside here for gamblers down the line if this mood continues – a payment option that’s already impressively flexible looks set to become even more so. Looking to 2017 and beyond, it’s safe to say that PayPal will remain an essential part of your funding toolkit as an online casino player.
We hope the information above has helped you make up your mind about whether to use a PayPal account with your online casino. It’s an option we generally recommend and gives you a little more flexibility when it comes to getting money to and from online casinos, in addition to being a generally useful online payments method.
You should also have no trouble finding a reliable and secure online casino that accepts PayPal with our listings of top-tier providers. Good luck out there on the tables!
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