PayPal is one of the most popular payment options in online casinos. Read this article to find out why you might want to use it for your deposits and withdrawals!
PayPal is one of the most popular payment options in online casinos. It’s a safe, reliable and user-friendly system that supports fast transactions. You can use it both in desktop and mobile formats. In this article, we’ll analyze the primary pros and cons of using PayPal for online casino deposits and withdrawals.
Pros
Global Availability
PayPal operates in around 200 countries and supports 25 currencies. Most likely, it should be available in your area and many of your acquaintances should be using it.
Easy Registration
To start using PayPal, you need to sign up for this payment system with your email and add your bank card or account to it. This process is very straightforward and takes just a couple of minutes.
User-Friendly Interface
Even if you have never used PayPal before, you’ll quickly figure out how it functions. Its interface was designed by top professionals of the industry and can boast a perfect UI/UX.
Anonymity
No matter which payment system you’re planning to use for your casino deposits and withdrawals, you’ll need to verify your identity on the gambling platform before requesting your first withdrawal. You’ll need to submit to the administration copies of your ID, proof of residence, financial statement and maybe some other papers. This information will be encrypted and stored 100% confidentially. When you make a deposit or request a withdrawal, you won’t need to share the number of your card or account with the casino. All the gambling platform will get to know is the email address to which your PayPal account is linked.
Security
PayPal has been around since 1998. It had enough time to build a solid reputation for itself. It will protect your account with the most advanced encryption tools and two-factor authentication. PayPal is known to be safer than credit cards.
Opportunity to Carry Out Both Deposits and Withdrawals
Some payment systems might support only deposits or withdrawals. For instance, MasterCard usually allows gamblers to only make deposits but not receive their casino winnings. PayPal works in both directions.
Flexible Deposit and Withdrawal Limits
If you use PayPal, your minimum deposit and withdrawal limits will be low and your maximum deposit and withdrawal limits will be rather high. Some other payment methods might feature even more flexible limits — such as crypto wallets. Nevertheless, the conditions of using PayPal should be better than using cards or bank transfers.
No Commission
PayPal won’t charge you a commission for buying goods online or conducting casino transactions. However, you should make sure you place casino bets with the same currency that you use in PayPal — otherwise, you’ll have to pay a conversion fee.
High Speed of Financial Transactions
Once you deposit funds to your gambling account through PayPal, they should reach your casino balance almost instantly. When you withdraw your winnings from a casino, they might land on your PayPal the same day when you request a withdrawal. Please mind that the speed of the withdrawals depends on how promptly the casino administration processes them. Before sending funds to you, the team of the gambling platform needs to review and confirm your request.
Opportunity to Benefit from Casino Affiliate Programs
Many gambling platforms have affiliate programs. As an example of such a platform, we can recommend you RevenueLab. You can get cash rewards for inviting new users to the casino. It might be a fixed reward per each new client or a percentage of funds that they spend gambling. In the latter case, you might be receiving the rewards for a limited or unlimited period of time. The casino might pay you for your efforts through PayPal.
Cons
Not All Online Casinos Support PayPal
PayPal is a widespread but not the most common payment option on online gambling platforms. Some casinos might encourage you to use a credit or debit card, a bank transfer, a crypto wallet or another e-wallet instead.
You’ll Need to Verify Your Identity
Once you’ve signed up for PayPal, you’ll be required to verify your identity. Normally, you’ll need to submit a copy of your ID and a recent proof of address. In most cases, the verification process is quick and goes without a hitch — yet it takes a bit of extra time.
Conclusion
Hopefully, you found this article informative and now you have a better understanding of why you might want to use PayPal for your online casino transactions. This payment system seems to have only two drawbacks: not all gambling platforms support it and it might take you some time to verify your identity. The advantages of this payment option far outweigh its minor shortcomings. PayPal is globally available, doesn’t make you pay commissions for casino transactions, has a user-friendly interface, provides excellent security guarantees, doesn’t make you reveal your payment credentials, works fast, supports both deposits and withdrawals, features flexible limits and allows you to benefit from casino affiliate programs.