PayPal is perhaps notorious among online gamblers for once not wanting anything at all to do with the practice. However, their goal to become the biggest online payments service in the world was never going to be helped by ignoring a $50b worldwide industry and as casinos and betting sites became more highly regulated and reputable, the company eventually caved. Today, PayPal ranks among the most widely used payment methods on the gambling landscape, and it is growing fast.
Depositing at a PayPal Casino is the same as using the service on any other website to all intents and purposes. Users head to the standard cashier on their site of choice and choose PayPal, which can usually be found among the ‘alternative’ methods. There, they choose a deposit amount as normal and are then sent to PayPal’s own site to log in and authorise the transaction.
Being redirected to PayPal’s own site gives players an early insight into what they can expect from the perks and benefits of using PayPal for casino and sportsbook deposits. All that the site in question receives as far as financial information is concerned is an email address – and if that address is the same as the one to which the betting account is registered, then players are not giving up anything that the brand does not already have. We go to great lengths to inform our readers and keep them up to date on the latest developments, and choosing a safe, fair casino is not exactly an advanced strategy. Nevertheless, those with a passion for data security or every intention of revealing as little as possible will appreciate the third-party nature of PayPal as one more layer on top of their card details and account numbers.
However, while security is clearly a big added bonus when using the service, we consider it as being the best deposit option going for a more practical reason, that being speed. From the deposit perspective, PayPal does not really outshine anything else. Whether using a credit card, electronic wallet, or basically anything other than a bank transfer, players can generally expect their funds to hit their accounts instantly when they hit the payment button – and there are no fees at just about any gambling site worth playing at.
Where PayPal’s speed really comes into its own is when taking money out of an account. It is not yet as instant as the deposits, but no service is. However, while withdrawing to a credit card can take a couple of days on top of the site’s own processing times, PayPal transfers are completed instantly. In practice, that sees funds being returned to players within a matter of hours – and that improvement in cashflow can be a true difference-maker.
If you mainly play at an online casino, then you want cash on hand to ensure that you’re in the right place and at the right time for the biggest and best bonuses as they become available. If you receive an email from one casino offering a juicy reload bonus, but your capital is tied up in a different account, it can make sense to get it out and redistribute it elsewhere. PayPal makes that possible in a timeframe where the relevant bonus will still be available.
At sportsbooks, part of the strategy is to follow the shift in odds, and to ensure that your money goes in at the best value. While certain sportsbooks are superior to others with regard to odds across the board, most players maintain a number of different accounts in order to capitalise on the best odds in any given event. Once again, having the cash available in short order is crucial for getting in while the going is good, and PayPal being the fastest way to move money around speaks for itself.
PayPal has gone from complete ignorance of online gambling to being available to just about any operator that wishes to make use of it. It is simply not hard to find a PayPal Casino or sportsbook in the current online landscape, and the number of supporting brands is growing all the time. Given our focus on the flexibility and speed of the service, the more options out there for players, the better. Ultimately, PayPal can serve as a truly worthy tool in any betting strategy, and whether you favour the slots, tables or the sportsbook, it can be another key component in the value strategy with the incidental benefit of keeping your details all the more secure.
