Most people will have heard of PayPal, even if it is not something they have ever used before. PayPal is an online eWallet account that you can store your money and use to make online purchases or transactions. The appeal is the simplicity, as you only need an email and to attach a bank account or debit card details to your PayPal account and then it can be used with just a click and password. This makes it very popular in the world of online casinos.
Most good online casinos offer players the chance to deposit and withdraw using a PayPal account because it is easy, quick and very secure. In this guide, we’ll be helping you to set up a PayPal account to understand how to use it at your online casino.
How To Open a PayPal Account
Opening up a PayPal account is quick and easy and can be done in minutes with these simple steps:
- Head over to the PayPal website.
- Click on Register.
- Click on Personal Account.
- Enter your mobile number
- Enter the code sent to your mobile.
- Enter your email address, name and create a password.
- Then choose a security question.
- PayPal will then send you an email confirming your registration with a link – click on the link and log in with your new password.
- Add your card details or bank account details to your account.
- In order to verify, PayPal adds 2 small deposits into your account. You then have to enter the two amounts added into your next sign in.
- Your account is registered, verified and you are ready to go!
Using Your PayPal Account at Your Online Casino
Once you have your PayPal account open and verified, then you are ready to use it at your online casino. It can be done quickly and easily in a few steps. Here is how to deposit with PayPal at casinos:
- Open your account, go to the Cashier and choose the PayPal option.
- Enter the amount of funds you want to deposit.
- Add in any promo code or bonus code you have to claim the welcome bonus.
- Click on Enter or Submit.
Then you’re done. Simple as that. You will be transferred to the PayPal website where you log into your account and then approve the payment. Once you have approved it, the deposit will be in your account instantly.
Depending on the online casino you are using, your minimum and maximum deposit limit may vary. However, generally, most online casinos will allow you to deposit between £10 and £10,000 in one go. Generally, larger online betting sites and online casinos will cover any transaction fees. However, some smaller or newer online casinos may pass the fee on. It is best to check with your chosen online casino to check first.
Also, some online casinos have payment method exclusions attached to their welcome bonus, which may include PayPal. If you intend to claim the welcome offer, first make sure that you can make your first qualifying deposit using PayPal as a payment method.
Withdrawing Via PayPal
Generally, most online casinos will require you to withdraw using the same method with which you deposited. So, if you have made a deposit using PayPal then you will be required to withdraw into your PayPal account. The good news is that PayPal withdrawals are very quick, and will often hit your account in under 24 hours. Again, withdrawal limits vary from online casino to online casino. Also, there may be fees attached to withdrawals at certain online casinos, so check before you withdraw.
Advantages and Disadvantages of PayPal as a Casino Deposit Option
So, is this the right payment method for you? Here are the pros and cons of depositing with PayPal
- PayPal is easily accessible and it is free and easy to create an account.
- You can use your PayPal account for other online transactions.
- Deposits are instant
- Most casinos won’t charge a depositing fee.
- Most casinos offer high PayPal deposit limits.
- PayPal can only ever be used on trustworthy betting sites.
- PayPal is one of the safest and most secure payment options.
- Withdrawals are very quick.
- Some smaller online casinos may charge transaction fees.
- Not every online casino allows PayPal deposits.
- Some welcome bonus offers are not valid for PayPal deposits.
Can I Use a Credit Card Linked to my PayPal Account?
Online casinos and betting sites no longer allow credit card deposits. This is the same with PayPal. Online casinos will only accept PayPal accounts linked to a debit card or bank account as of 14th April 2020.
Is It Safe to Use PayPal at an Online Casino?
Yes, it's very safe as PayPal is tightly regulated and only works with trustworthy and reliable online casinos and betting sites that have been licensed by the UK Gambling Commission. The PayPal website is one of the most secure around and uses state of the art encryption technology. Also, your bank details never need to be shared with the online casino.
Can I Deposit with PayPal and Use Another Withdrawal Method?
Generally, because of anti money laundering rules, players are required to withdraw using the same method of deposit. So, if you deposit with PayPal, you will be required to withdraw via PayPal. The only exception is if your deposit method doesn’t allow withdrawals (such as certain prepaid cards or phone payments).
What are the Best Alternatives to PayPal?
There are a number of other excellent alternatives, including other eWallets such as Skrill and Neteller. Debit cards are also a good alternative, but can take longer for withdrawals. For smaller amounts, players might consider Boku, which allows them to pay using their phone bill.
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