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PayPal rose to prominence thanks to its close ties with eBay, and now it's one of the world's largest Internet payment companies, with almost 200 million users worldwide signed up. With a user-base that astronomical, it's no surprise PayPal is also one of the most popular payment options used at online casinos and bookmakers. With so many players looking for casinos to deposit via PayPal, we've put together this complete guide to online gambling with PayPal!
The US-based online payments system originated in 1998 as Confinity before some behind-the-scene shake ups resulted in a rebrand as PayPal in 2001. The company then went public in 2002 only to be acquired by close partner - and largest adopter of PayPal - eBay for $1.5 billion later that year. In 2015, eBay announced PayPal would be spun-off into a separately traded company.
By 2014, PayPal was moving well over $200 billion annually in over 30 different countries. PayPal's established brand presence, extensive security measures and overall accessibility has turned this once eBay feature into one of the most prominent eWallets to ever hit the web. There are few online casinos and bookmakers anywhere in the world that do not accept deposits via PayPal.
Privacy seems to be the main draw to PayPal as a primary depositing and withdrawing option at online casinos. When using PayPal, players' personal bank account and card information is never transmitted across the web or even to the casino site itself. Thanks to the PayPal account all users sign up for, personal banking information is never passed along to a third party.
On top of the added security and safety of PayPal, online casino goers love the speed of PayPal depositing. A player who chooses to deposit via a PayPal account will instantly see their funds added to their casino account; no need to wait for processing or anything time consuming like that. Players are instantly given access to their deposit so they can start playing right away.
The advantages to PayPal as a whole are generally whittled down to two main features: security and speed. But PayPal is conprised of a few different services including PayPal Access Card and PayPal.Me to name a few. These more unique services of PayPal carry their own advantages, which are laid out below:
eBay is directly linked to PayPal, but thousands of shops, both online and on the high street also accept PayPal. A full list is available on the PayPal website, and includes all major online gambling sites. The PayPal Access Mastercard is accepted everywhere that accepts MasterCard, and PayPass can be used for travel on London's TFL network.
The online sign-up form is free, quick and easy, you'll just need to supply your: Name, Email Address, Chosen Password, Physical Address, Bank or Credit/Debit Card Details and Date of Birth. Verification will be necessary for certain services, which means you'll need to supply PayPal with: Proof of Identity (a scanned copy of your passport or driving licence) and Proof of Address. At the time of writing, the PayPal Access Card is available by invitation only in the UK.
Owning an online account, including the e-wallet and PayPal app, and making payments is free. However, some services are charged. These include:
PayPal offer all users Buyer Protection, so if a purchased item fails to arrive, or doesn't match the seller's description, PayPal will reimburse you. Transactions never involve sharing personal or banking details, reducing the risk of fraud; and PayPal encrypts and monitors every transaction, 24/7, to prevent against fraud and identity theft. PayPal also have a dedicated Resolution Centre to deal with customer problems and payment disputes.
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