Paypal betting sites

It is relatively easy to deposit money to betting sites via Paypal. It might take a bit longer than debit cards for example, as Paypal acts as an intermediary. However, the process is quite easy to follow.

1. Choose the deposit option “Paypal” with the betting site of your choice.
2. You will be directed to Paypal, where you enter your username and password.
3. You can now transfer funds from Paypal to the bookie. The transfer is instant.
4. Start betting with your transferred funds.

If you have deposited money with another method, the bookmaker normally want you to withdraw using the same method. If you have used Paypal for deposits, there should be no problem using it for withdrawals.

1. Choose the withdrawal option Paypal.
2. You will be directed to Paypal, where you enter your username and password.
3. Once everything is confirmed, the withdrawal process starts. The withdrawal normally takes between 12-24 hours from confirmation.
4. Done, the funds are now on your Paypal account. Remember that Paypal might charge a fee for withdrawals to your bank account.

If you are looking to use Paypal and claim the welcome offer from a betting site, it is important to check if the bookie in question allow this. In our experience, this has become increasingly rare.

In fact, none of the bookies in our list currently accept Paypal as a valid payment method for the welcome offer.

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

Paypal is a popular payment method, but as with all things, there are both advantages and disadvantages of using Paypal. And different payment methods suit different people. Below are some of the pros and cons of using Paypal for online betting.

Advantages

Security

As Paypal acts as an intermediary between the punter and the bookmaker, you will only have to share your bank details with Paypal, and not every single bookmaker you sign up with. This is a great “feature” for many, as it limits the places online where your bank or card details are stored. Of course, today most online bookies are focusing a lot of effort on player safety, which means their security is very high, and probably about the same level as Paypal, in general.

Disadvantages

Of course, there are also some disadvantages to Paypal, otherwise everyone would use their services for online betting deposits.

Speed

When compared to a debit card, of course Paypal is a slower payment method. Since you need to deposit funds to your Paypal account before transferring them to the online betting site, this is self-explanatory.

Not all bookies offer Paypal deposits and withdrawals

Whereas all bookies offer debit cards or bank transactions as deposit and withdrawal methods, not all bookies offer Paypal. Also, some might offer Paypal for deposits only, and not for withdrawals. Be sure to look these things up before signing up with a betting site.

One of the most important questions when it comes to any payment method is security. Can you trust the payment method of your choice to be secure? It is, after all, your hard-earned money on the line.

Paypal has got a great reputation of being a secure and reliable option for online transactions. Their long history as one of the big brands in the area is a testament to that.

And even though almost all bookies nowadays takes security and safety of their customers extremely seriously, some punters are still reserved when it comes to sharing their card details.

This is where Paypal is a great option.

Since you deposit your funds to Paypal, and they handle the transaction to the bookmaker, your details are never shared with anyone, other than Paypal themselves.

If you are looking for similar options, both Neteller and Skrill are viable ones.

Since a few years ago, both Neteller and Skrill (who were former competitors) are part of the Paysafe Group, alongside Paysafecard.

Neteller & Skrill

Both Neteller and Skrill have got a good reputation and are heavily focused on the online betting/gambling niche. They work in similar fashion to Paypal; e-Wallets that allow you to keep your bank details away from the bookmakers. Just note that you normally cannot claim a welcome offer using Neteller or Skrill as your payment method of choice.

Debit card

The most common payment methods remains being debit cards. The great advantage of a debit card is the speed. Since you cut out the middleman (paypal, neteller, skrill etc), the transaction is almost instant.

And although many individuals are a bit wary of sharing their card details, it normally is not an issue. As long as you make sure the bookmaker is a serious and licensed dito.