You might know PayPal much longer than most online casinos because this payment method started in connection with its parent company, probably the biggest online auction house eBay. What began with the payment of auctioned items has now established itself on the market. Since then, PayPal can be found as a payment method in at least some popular online casinos.
Unfortunately, still few providers have the opportunity to offer you this method. The reason for this is the fact that PayPal itself does not tolerate transactions in connection with gambling. However, betting providers such as William Hill are the exception. They have the permission to offer you PayPal – of course also for deposits in their casino area.
What makes PayPal so popular?
The popularity of PayPal is certainly due to the fact that this payment method is considered particularly fast and secure. But also reliability always plays a major role in transactions of various amounts. At this point, the payment method can score points. The provider’s good reputation and its own banking license from Luxembourg, which is valid for the entire EU according to EU guidelines, are also convincing across the board. The support is always friendly and thanks to over 18,000 employees also fast and exemplary.
Online casinos with PayPal
|Terms of turnover
|100% up to 100€
|50% up to 1000€
|300€ + 10 free spins
|up to 1500€
What is required?
The basic requirement for payment via PayPal is your own customer account, which you can set up on the corresponding pages of the provider without much effort. Some personal data are required as well as your bank details. After all, payments made will be debited from your bank account a few days after the amount you have selected has been transferred to the respective recipient. It is also possible for you to enter a credit card number as an alternative, which will be charged with the corresponding deposit amount.
Once you have set up and confirmed your account, you can select PayPal in the online casino, enter an amount and confirm it on the company’s pages by verifying the bank details provided. Directly after that, your money is available on the player account. Withdrawals can also be made to the PayPal account and from there transferred to your bank account at will.
Advantages and disadvantages of PayPal
In fact, PayPal is a very secure and fast payment method that you can reliably use 24/7. Thanks to simple handling, the required PayPal user account can also be set up quickly. In real-time, all confirmed payments are posted to your player account, so you don’t have to let any time pass until you can start playing and winning. In addition, there are no restrictions on the deposit amount with PayPal.
Pros of PayPal at a glance:
- Very secure and reputable payment method
- Deposits into the casino account are made in real time
- No credit balance on the wallet required
- Over 210 million customers worldwide
- No extra fees for the deposit
Cons of PayPal:
- Incurring fees on receipt of funds
- PayPal only available in a few casinos
Theoretically, you can also add 10,000 euros to your player account, as long as your bank account or credit card is sufficiently covered. Finally, the company PayPal goes in advance, because the amounts are only debited from your bank account or credit card a few days after the transaction. A disadvantage, however, is that withdrawals of winnings in the casino are associated with fees. Consequently, a few percent will be deducted from all amounts received.
PayPal Buyer Protection not in the online casino
PayPal offers its buyer protection for many years. This is used, for example, when goods are paid for with the wallet, but these do not arrive at the customer. The service provider’s system offers the possibility to have the money refunded after the case has been clarified. This way, you as a buyer are of course on the safe side – and this is also the reason why PayPal is recommended in many online stores.
But what about buyer protection in the online gambling sector? First of all, we can be glad that PayPal is a very reliable payment system, especially for casino customers. However, in the gambling industry, buyer protection was overturned quite some time ago.
It is therefore all the more important to rely exclusively on casinos that are subject to EU guidelines and whose licensing is transparent. This is the only way to prevent unpleasant surprises. Buyer protection via PayPal is not feasible for the simple reason that a loss of money must always be assumed with games of chance – unlike with the purchase of certain goods and other services.
Use of third-party accounts possible?
In fact, in many online casinos, it is exclusively allowed to use one’s own PayPal account. The reason: otherwise, the operators cannot track whether a payment is authorized at all. In addition, the verification of player data would hardly be possible. Therefore, anyone who wants to make a payment via PayPal should definitely set up a personal PayPal account beforehand. There are no costs involved and the account can usually be used immediately.
You do not have to accept waiting times. There are exceptions where it does not matter what data is entered, but these are very rare.
Fees as a cost factor – something to watch out for
The deposit can be made with PayPal basically free of charge – there are no fees. The exception to this is transactions where the currency has to be converted. However, if you play in a casino, then you should be able to play there comfortably with your money at any time. This means that you can use the entire amount you have chosen and no fees will be deducted. It is a little different from the payout of winnings. As soon as money is received into your PayPal account, 1.9% of the received amount plus 0.35€ will be charged automatically.
An example: You win 450€ in your favorite PayPal casino and have this sum paid out to your PayPal account. 8.90 euros are then the fees that are deducted from the amount. In principle, manageable costs, but can be significant for smaller amounts. At least you should be aware of the fact that withdrawals of winnings are not completely free of charge.
Conclusion about PayPal
PayPal is rightly considered a very secure and reliable payment method for many years – and not only in online casinos. Due to gambling regulation, it was not possible to offer PayPal as an option for some years. In the meantime, more and more providers are coming back into cooperation, from which not least you benefit as a player. PayPal itself does not set any limits for transactions, which is of course an advantage. Whether you have to consider lower and upper limits, that ultimately depends on the selected online casino.
Security has its price. Probably also to ensure this protection, PayPal demands a small share of fees for incoming funds – which is clearly manageable. However, that is already the only disadvantage. It is also important to be clear about the lack of buyer protection. Depositing money into the online casino is not considered a purchase, as no guarantee can be given when gambling. If you gamble away your deposit, PayPal has no influence on it. All the more care should be taken to choose only the best online casinos that enjoy a good reputation and are licensed to you in the EU if possible. The more transparent the provider is, the safer the payment – and that even without buyer protection.
Frequently asked questions
PayPal is an independent provider for virtual payment transactions in online stores and casinos. The company is still considered the largest of its kind and is a kind of guarantee that the chosen gambling provider is a reputable casino.
More videos about how PayPal works can be found on the official youtube channel.
PayPal is a virtual wallet – also called an online wallet. You don’t have to do anything more than setting up a free account with the service provider. Now transactions can be made by entering the PayPal username and password in any amount. PayPal itself deducts the selected amount a few days later from the specified and verified checking account or the credit card set up. The advantage of this system is that the wallet does not necessarily have to be in credit. Nevertheless, you have of course the possibility to fill the virtual wallet in advance – for example, to have better cost control when playing in casinos.
Yes, but so far there are only a few online casinos that are allowed to offer PayPal as a payment method. If there is cooperation, then deposits, as well as withdrawals, are possible without any problems.
Among all the e-wallets that we currently find, PayPal is still considered the most secure. After all, the operators look back on many years of experience and have always remained at the cutting edge of technological possibilities. All transactions are encrypted, your personal data is checked. Only buyer protection is no longer available for payments in online casinos. But even without such PayPal can still be classified as very safe.
If you choose PayPal, your winnings will also be paid out in this way. However, it must be taken into account that small fees – 1.9% plus 0.35€ – are incurred when money is received. However, these are not too much of a problem, as maximum security is offered for the low amount. In addition, transactions are usually unlimited. If necessary, it may be necessary to verify personal data with PayPal.
Neteller and Skrill are also highly regarded alongside PayPal. Basically, all three online wallets can almost be put on a par. PayPal has a clear advantage because it is not necessary to use the virtual wallet is a prepaid system. If the checking account or the credit card is verified, a later debit takes place. PayPal goes so to speak in advance. Attention: If the account is not covered several times, then this service provider can also only be used as a prepaid method.