Bet online with PayPal
PayPal is an online payments system that operates as a payment processor for online vendors, auction sites and other users.
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 service 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.
PayPal headquarters in San José, USA (picture by Sagar Savla)
Using PayPal with Betfair
If you are a Betfair customer you may have noticed that we have left them out the list above. Betfair does accept PayPal as a payment method but the reason we did not include them in the list is because we have experienced a few problems depositing with them using the PayPal service before.
The problems arise if you have used a MasterCard or credit card to pay via PayPal. If you have problems depositing via PayPal then you will have to register your card in 'My Card Details' and deposit directly into Betfair.
If any funds in your PayPal account have been generated by sales on eBay, you will be unable to transfer these funds to your Betfair account, as this is deemed a third party payment.
If you have, or have previously used an American Express or Amex card on your PayPal account, you will be unable to fund your Betfair account via PayPal.
Betting online with PayPal in the UK & Ireland
Many of the major UK betting sites - who often actually reside in Gibraltar and Malta - will use PayPal as a payment service.
The UK and Irish betting sites that you can use PayPal with include:
- Paddy Power
- William Hill
The UK online betting market is well serviced by PayPal
Betting online with PayPal in the USA
PayPal only permits betting transactions in jurisdictions where it is licensed. That is why you can use it in the UK, Australia, Germany, Ireland, Italy, Spain and Sweden. However apart from Nevada and New Jersey, betting sites in the US are not allowed to use PayPal as a payment option. The online sports betting sites available to players outside of Nevada are not licensed. They are located offshore. PayPal refuses to do business with those sites.
Betting online with PayPal in Australia
The Australian market, like the UK, is well serviced by PayPal.
If you would like to know more about the Australian online betting industry, then we can recommend our guide to the best betting sites in Australia in the this link.
The good thing for PayPal users looking to bet in Australia is that the online payments company services both the international sites operating in the country as well as the domestic betting sites. These Include:
Unfortunately Neds Bet does not accept PayPal payments.
The Australian online betting market is well serviced by PayPal
Betting online with PayPal in Kenya
Most foreign betting sites won’t accept Kenyan Shelling deposits which means that Kenyan's have been forced to use mobile payment services like PayPal. Until recently, Skrill and Neteller have been the most popular form of payment, however PayPal is now on the rise.
Unfortunately, the country's most popular betting sites 1xbet and Betin do not accept PayPal. Neither does Sportybet or BetPawa.
If you would like to know more about the Kenyan online betting market, then check out our page on the subject here.
Most domestic betting sites in Kenya do not accept PayPal
How to set up your PayPal account
Questions and Answers related to betting online with PayPal
Can you deposit with Bet365 using PayPal?
Yes it does. You will not be charged a fee and the deposit will be immediate. You will have to put in a minimum of £5 and a maximum of £5,500.
Can you withdraw from your Bet365 account using PayPal?
Yes you can. You will not be charged a fee. You will receive your money within 24 hours. You will need to withdraw a minimum of £10 to a maximum of £5,500
Does Skybet accept PayPal
Kind of. Due to their card scheme rules you cannot currently use American Express cards to fund your Sky Bet account with PayPal.
Is PayPal safe for deposits on betting sites?
Yes. If it is an official payment method then yes you can absolutely trust it.