With over 227 million registered users, PayPal is a market force to be reckoned with. The company got its start in 1998 in San Jose, California. For the first few years of its existence, the company operated under the names Confinity and X.com. Famous tech entrepreneur Elon Musk steered X.com’s energies into PayPal’s money services before he left the enterprise in 2000. Since that time, PayPal has established a market presence in over 200 countries / regions with the ability to process funds in 25 currencies. While no longer the largest payment processor for online gambling as it had been prior to 2003, PayPal offers their services in countries where online gambling is legal and whose sites are properly licensed. This financial server has distinguished itself for its prompt transfer times and largely free processing rates. In this article, we´ll explain how you can open an account with PayPal, how to make deposits and withdrawals to and from your account, address PayPal’s security protocols and much more. Read on to find out what makes PayPal tick!
Content on this page
- What is PayPal?
- Opening an account
- PayPal registration in detail
- Advantages of PayPal
- Which bookmakers accept PayPal for transactions?
- Betting bonus
- How do I make deposits and withdrawals?
- How secure is PayPal?
- Participating bookmakers
- How long do payouts from PayPal take?
How to get up and running with PayPal
What is PayPal?
PayPal is an online payment processor that makes moving funds fast and easy. It only takes a few moments to open an account. Once your account is set up, you can place bets in the blink of an eye – a distinct advantage when speed is of the essence (think: live betting). Most bank transfer deposits can take up to three days to be credited to your betting account, whereas PayPal makes the same deposit instantaneously. Another benefit of using PayPal is the ability to redeem your credit in virtually all online shops. The number of bookmakers accepting PayPal as financial option continues to increase. PayPal creates additional separation from the rest of the e-wallet pack because many bookmakers accept PayPal as a legitimate source for initial deposit bonus programs.
How do I open a PayPal account?
Before we explore all of the things you can do with PayPal, it’s vital that you HAVE PayPal! What follows is a brief overview of the steps required to register with this financial provider:
- 1. Click on the photo above to be redirected to PayPal’s registration page.
- 2. Click on the button that says ‘Sign Up’ on the top of the screen.
- 3. Chose the ‘Personal Account’ option and then click ‘Next.’
- 4. Provide the required information. PayPal will send you an email requesting your confirmation.
- 5. Finally, verify your registration by confirming the email and you’re all set to make a deposit and get in on the gambling fun!
PayPal registration in detail
Be sure to select what kind of account you want to start with PayPal. For most people, a private account is the simplest way to fast access to online sports betting. To prevent future headaches, it’s important that you avoid typos and that you’re truthful in the information you provide. Make sure your password is something you can remember, but other people won’t be able to guess. Your password will have to be at least 8 characters long and contain at least one special character. Make sure your email address is valid and correct because you’ll need it to verify your registration. After all that, simply transfer money from your bank or credit card to your PayPal account. Make deposits as you normally would with your bookmaker. When the time comes, bookies can easily deposit your winnings in your PayPal account.
What are the advantages of making transactions via PayPal?
- Lightning fast
- Bank and credit card information remain anonymous
- Customer protection
- Registration is free
- Most bookmakers waive PayPal processing fees
- See all of your transactions at a glance
Which bookmakers accept PayPal for transactions?
More and more betting providers accept PayPal. We’ll explain more about that a bit later in the article. With a little research you can find a bookie you like who accepts PayPal. In fact, one of the testing criteria we use in our Bookmaker Review is the forms of payment the bookie accepts. When PayPal is in their portfolio, we give that bookmaker a bump in points. You can read detailed reviews by clicking the link at the bottom of this section.
Can I get betting bonuses via PayPal?
Yes. Most of the bookies who have PayPal in their portfolio let you use a PayPal deposit for the new customer bonus. This is not a common feature in other e-wallet providers such as NETELLER, paysafecard and Skrill. Beyond the new customer deposit bonus, some bookmakers offer betting vouchers which you can also unlock and transfer to your PayPal account. To learn more about the various bookmaker bonuses, be sure to follow the links below to get up to speed.Show me more bonuses!
How do I make deposits and withdrawals?
Transactions via PayPal are fast and easy. In fact, to make a payment all you need to know is the recipient’s email address or telephone number. Sports betting sites will make the depositing process quick and painless. Since your PayPal account is tied to your bank account or credit card, you can simply address the payment where you want and let PayPal take care of the details! Receiving money is just as easy and is twice as fun. You can add to your PayPal account balance with:
- Bank transfer
- Credit card
How secure is PayPal?
PayPal is the e-wallet of choice among sports betting providers because it is the definition of up-to-date. PayPal’s security standards are second to none. You can breathe easy when using this service. Every transaction you make is confirmed with an email, so nothing will escape your notice. You can also enable two-factor authentication which means you will confirm your transaction with an SMS as well as your email. If something goes wrong, you have 180 days to make a claim with PayPal. If your account is hacked, PayPal will refund the shortfall.
You can track your PayPal payments in two ways:
- by EMAIL
- by SMS
Some bookmakers don’t accept PayPal. Why?
This has to do with licenses. PayPal used to be owned by eBay. During that time, PayPal had to cancel many of their contracts with online sports betting providers. PayPal has been rebuilding their clientele since their split with eBay. Because this is high finance, the business relationship between a bookmaker and PayPal takes a long time to work out. A bookie who lists PayPal in their portfolio is a serious enterprise and you can feel confident your money is safe.
How long do payouts from PayPal take?
Processing time varies from bookie to bookie. In our experience, we found most PAYPAL transactions are instantaneous. Some bookmakers can take up to 72 hours to process a withdrawal claim. It’s important to keep in mind that if you submit a withdrawal request on a Friday, there is a chance it will not be processed until the following Monday. In the end, though, when the bookmaker approves your request, the money will land directly in your PayPal account – exactly where it should be!