PayPal is an online payment processor and e-wallet that has been around since December of 1998. Founded by some big names like Elon Musk and Peter Thiel, backed by over $40 billion in assets, and under the parent company eBay, you know that this is a company that knows what they’re doing and can be trusted to treat you right.
As an e-wallet, PayPal allows you to create an account where you can have money stored online. You can then utilize this account to make purchases all over the web and at PayPal accepted casinos. As you’ll see in the next section of this guide, that is a huge perk because it allows you to keep your personal information safe. It also keeps you from having to share your banking details with companies and websites all over the web.
Overall, PayPal is probably the most famous, most respected, and most trusted online e-wallet in the world. This means that utilizing PayPal at your chosen betting site is something we highly recommend, because you’ll have a wall of security, safety, and protections following you throughout your journey.
Create a PayPal Account
Many of you that are reading this probably already have a PayPal account. If that is the case, you can go ahead and skip to step four now. You do not need to create a special PayPal account in order to deposit real money with PayPal into PayPal gambling sites.
If you don’t have a PayPal account yet, though, that’s okay. Head on over to PayPal, and go through their sign-up process. It should only take you a couple of minutes, and then you’ll have a PayPal account that you can use anywhere and everywhere on the web for more than just online gaming websites!
How to Deposit With PayPal
Depositing with PayPal, if it’s a casino payment option available to you, is easy. You simply choose it by clicking the PayPal logo in the list of available options on the deposit page. You’ll then be prompted to sign in to your PayPal account through a pop-up. This is the default payment option that will be debited from your account, so if you’re using a debit or credit card or your bank account with PayPal, this is something you’ll need to edit in the settings in your PayPal account.
In the pop-up, you won’t be taken to the website for your PayPal account but to a simple payment page where you can authorize your payment. The deposit will be immediate since there is no waiting period for the deposit to be credited to your player account. This simplicity is what makes PayPal online casino sites so popular.
How to Withdraw to PayPal
If you had luck playing online slots with PayPal, it’s time to learn how to cash out. PayPal withdrawals work the same way they do for most other e-wallets. You go to the cashout page at the PayPal casino, enter the amount you want to withdraw, then choose the service. You’ll only be able to choose this option if you have already made a deposit with PayPal, and the withdrawal will only be approved if the deposit that generated the winnings you’re withdrawing from was made using this option. In other words, just because you can see the PayPal option on the withdrawal page doesn’t mean that you can automatically use this option for every withdrawal. According to Anti-Money Laundry rules, you should, whenever possible, withdraw to the same method as the winning deposit was made with.
How to Verify Your E-Wallet Account
If you have only used PayPal for all of your deposits and withdrawals at an online casino, chances are that you won’t need to verify your account. On the other hand, if you have used several methods for deposits within the last 6 months, chances are you’ll need to verify the ownership of all of them before you can make any withdrawals from your account. A casino can also ask for verification of any account whenever they want to, even before you make any withdrawals. So, if you’ve connected your PayPal account to your casino account, you should be prepared for a verification request.
The verification itself is very simple. All you’ll have to do is take a screenshot of your PayPal account that shows you’re logged in to your account and also shows your name and email address. The account information page is a good place to do this. If you haven’t already gone through the KYC verification process, you’ll also have to do this, and this means you’ll have to submit other documents to verify who you are and where you live.
Limits and Fees
As with any other transaction you perform online, there is always a fee since the payment processors also need to make a profit somehow. PayPal is not known for having low fees, but at casinos you may get away with making both deposits and withdrawals totally fee free. It’s quite common for a casino to cover the costs of transactions both to and from the casino, so you only pay what you want to deposit, and you get all the money that you want to withdraw from your casino account. But, some casinos make their players pay the PayPal fees themselves. Then, you’ll usually be charged up to 3% for all of the transactions you make with PayPal.
Also watch out for the processing fees the casinos charge to handle your withdrawals. If they have these kinds of charges, they are usually a small percentage of your withdrawal that’s capped at around €590 or something similar, or they may change a fixed-rate fee per transaction.
The limits for transactions through PayPal are usually quite low compared to many other payment options. Some don’t allow more than €500 per transaction, but some allow several thousand. The limits should always be visible on the deposit and withdrawal pages at the casinos.
PayPal Bonus at Online Casinos
Luckily, PayPal is a payment method that can almost always activate a bonus at online casinos. It’s very rare that a casino blocks bonuses for players choosing this deposit method, although it could, of course, happen. Since not all players from all countries are even able to use PayPal to perform casino transactions, and since the bonus terms may differ from country to country, you should always read the terms for each bonus carefully to make sure your preferred payment method can be used. If a casino did block bonuses with an e-wallet, they would most often block only the first deposit or any deposits that are part of a multi-tiered welcome package. Still, you can usually use the method to get access to popular PayPal slots and table games.
You could also, of course, get an exclusive PayPal bonus, but these are rare. Only the best PayPal casino sites offer such bold promos. Most operators only offer payment method bonuses for the methods that are cheapest for them to use, in order to prompt more players to use the options with lower fees. This is why choosing PayPal doesn’t often qualify for exclusive bonuses. So even though you might get a normal casino bonus with this payment option, you probably won’t get anything extra just for using PayPal to make deposits.
Final Thoughts
We’ve certainly covered a lot about PayPal and PayPal gambling sites today. We’ve discussed the pros and cons of utilizing these sites, shown you the absolute best PayPal gambling sites available, and given you the step-by-step instructions to get started.
All that is left for you to do is pick out the right site for you, and get yourself into the real money action right now. Good luck out there, and we hope that you win big!
