Which Online Casinos Accept PayPal Deposits?
PayPal is one of the best known digital wallets due to its long association with the online auction site eBay, however surprising few online casinos accept PayPal deposits. The reason for this is that PayPal ceased processing gambling transactions in 2003 – around the time of its acquisition by eBay – and only resumed in 2010 in jurisdictions where online gambling is licensed and regulated.
This has resulted in the slightly confusing situation whereby an online casino may advertise it accepts PayPal deposits from players – but only players from some jurisdictions and not others. As more areas regulate online gambling, PayPal´s influence as a payment processor will undoubtedly increase. Until then, players in unregulated jurisdictions have alternative deposit methods available.
Online Casinos Offering PayPal as a Deposit Option
Please bear in mind when reviewing our list of online casinos offering PayPal as a deposit option that casinos can only offer this service if you live in an area that has regulated online gambling. This is not the casino´s rules, but PayPal´s rules. Where PayPal is offered as a deposit option, there may also be restrictions on how much you can deposit or withdrawal within a certain time period.
Why Use PayPal for Online Casino Deposits?
One of the best reasons to use PayPal for online casino deposits is that the only information you have to provide the casino with is an email address. All transactions via PayPal are processed securely by PayPal (not the online casino), so you will never have to give the casino your PayPal password. In most cases, PayPal online casino deposits are instant.
You will still be required to verify your account with the casino before requesting a withdrawal, and you will also have to verify your PayPal account if you want to deposit above a set limit each year (limits vary from jurisdiction to jurisdiction). These are standard KYC procedures put in place by all online casinos to comply with international law and prevent fraud.
PayPal accounts are quick and easy to set up, and free to fund if you are transferring money into your PayPal account from a linked checking account. You can also make a deposit into an online casino account via PayPal using your credit card without having to fund the PayPal account. Although this service attracts charges, it is a way of funding a casino account without divulging personal information.
Potential Issues with PayPal Casino Deposits
Although we consider PayPal to be one of the most convenient and easy-to-use options for depositing at online casinos, there are a few issues we have experienced – and would expect other online gamblers to also experience. The first is that PayPal still tends to be cagey about online gambling transactions. This can result in withdrawals from an online casino occasionally being “reviewed” for security purposes.
The second issue is the fee for funding an online casino account via PayPal using a credit card. For U.S. players the fee is 2.9% plus $0.30 (it is higher in some other jurisdictions). So, if you were to use a credit card to make a $500 deposit via PayPal, the amount that would be credited to your casino account would be $485.20. You might as well just use your credit card!
Although unlikely to be an issue until international compacts are in place across multiple regulated jurisdictions, it is worth noting that PayPal has a high currency conversion fee and charges for receiving payments “from overseas”. Consequently, PayPal is likely to be a good deposit option for some players, but not for all.
Is PayPal a more secure way to fund an account with an online casino?
It is “more secure” inasmuch as you do not have to divulge your credit card details to an online casino. However, if you do not trust the online casino to keep your personal details secure, you shouldn´t be playing there!
Do all PayPal casino deposits attract bonuses?
Some casinos limit the amount of a bonus or the number of bonuses a player may qualify for if they deposit with Neteller or Skrill. There are no known restrictions on PayPal casino deposits, but we recommend reading the terms and conditions of each bonus offer before making any deposit.
Are PayPal withdrawals instant?
This will vary from casino to casino. Some automatically process PayPal withdrawal requests immediately. Others may take 2-4 days to process the request. Once processed, the funds appear in your PayPal account within minutes.
Does PayPal have a VIP Rewards program?
No. Unlike some digital wallet providers, there are no rewards or discounts for the volume of deposits and withdrawals you make using PayPal. This may influence you decision to use PayPal for online casino deposits if you are a large volume player.