Paypal is a company that provides online transactions of money between parties. For individuals, Paypal essentially acts as an e-Wallet, where you deposit money, in order to use them online.
It was founded in 1998 as Confinity, during the dot-com boom and was bought out by eBay in 2002. eBay then decided to spin off PayPal into a separate publicly traded company in 2015.
Today, PayPal owns a number of subsidiaries such as, iZettle, Braintree, Paydiant and Venmo.
It could be argued that PayPal is the best known and most trusted online payment method - excluding a direct visa or mastercard transaction - in the betting world. It could also be argued that it is one of the strictest and self-regulated online payment services in the betting industry.
We explain why:
Unlike other international online payment services widely used by betting sites, such as Skrill or Neteller, the betting industry is just one segment of its revenue. For these other companies betting revenue makes up a huge portion of it's overall earnings; in Neteller's case the company has the betting industry to thank for its exponential growth during the early 2000s.
PayPal, no doubt aware of the regulatory quagmire that the betting online payments market can be, has kept the number of merchants it services down to a minimum. Being a large, multinational organization with 244 million users and a net income of US$1.795 billion it can afford this luxury.
That is why in the list we have provided above, you can see that they have only partnered with the long established, largest and (some of) the most reputable betting sites out there.
How to setup your Paypal account