Online Betting Sites That Accept PayPal
Ready to dive into the world of PayPal gambling? If you're hoping to bet on sports using your PayPal account, you probably have some questions. Luckily, OddsChecker is here with answers. We'll teach you everything you need to know about PayPal betting, including how this e-wallet compares to other popular deposit methods and which betting sites accept it. Read on to discover all the advantages that PayPal sports betting has to offer, and learn how to get started betting with PayPal today.
The Rise of PayPal and its Introduction to the Gambling and Betting World
You can get all your shopping done quickly and easily on the web these days. But back in the nineties, it wasn't so simple. Transferring money across the newly-minted internet caused issues with security and convenience. To combat these problems, PayPal was born.
How does it work? PayPal acts as a third-party processing system allowing users to make rapid transactions in the most secure way possible. Getting started is easy. Here's what you'll need to do:
- Create a PayPal account in minutes with your email address and other information.
- Fund this account by transferring money from your bank account or debit card.
- Use the PayPal account to make online transactions so you don't have to share your banking information directly with merchants.
PayPal was originally founded in California, but the company has grown quite a bit since its humble start back in 1998. Currently, PayPal has over 300 million active users and boasts offices around the world. Once PayPal became established, online gambling operators saw its potential.
PayPal provided an easy way for users to deposit and withdraw funds from their betting accounts, and many sportsbooks began offering it as a payment method. Nowadays, there are many gambling sites that accept PayPal. In fact, PayPal is America's favorite way to wager. As time goes on, we'll likely see even more betting sites that accept PayPal popping up across the country.
Advantages of PayPal Betting
There are quite a few benefits of PayPal sports betting. Accessibility, security, and peace of mind are all vital when it comes to your online gambling experience, and PayPal delivers in spades. So, what exactly can this e-wallet offer you? You'll find the biggest three perks of PayPal gambling outlined below.
Privacy
Nobody wants to put their business out there for everyone to see. This holds especially true for business that involves your banking information, as it can be stolen and used for theft, fraud, and other unpleasant things. Trusting an online merchant with your banking information can be difficult because of the risk involved.
PayPal solves this problem completely. Because it's a third-party processor, your actual banking information is never shared - once you give it to PayPal, they transfer all funds on your behalf. The merchant you're buying from will never process or store your account info. If they get hacked, there's no risk of criminals getting ahold of your information.
Using a sportsbook PayPal is compatible with eliminates issues of privacy and keeps your information safe from prying eyes. You can rest easy knowing you've kept your anonymity throughout the process with PayPal betting.
Easier Withdrawal & Instant Deposits
Not only is PayPal more secure than using your debit or credit card directly, it's also quicker and more convenient. Funding your sports betting account through PayPal takes only seconds. You'll see your deposit appear in your account within minutes once you input your PayPal information, whereas bank transactions can take hours or even days.
Withdrawing your winnings from PayPal gambling is also one of the simplest options out there. Once you've made a deposit with the e-wallet, betting sites that accept paypal generally allow you to make withdrawals without gathering additional information.
Fewer Bank Issues
There's nothing more frustrating than getting all geared up to wager on a big game and then having your deposit declined by the bank. Unfortunately, this is a common occurrence. Many banks and credit unions have trouble processing payments to gambling providers and deposits are often denied or delayed. Once they actually go through, the event you want to bet on could be over already.
Even if you do make a successful deposit and end up raking in some cash, you could still have trouble withdrawing those winnings. Whichever method you used to make a deposit might not be compatible with a withdrawal as well, and you could be forced to find other ways of obtaining your money.
PayPal has no problems making all types transactions with sports betting providers. Once you've made a successful deposit with PayPal, it's highly unlikely you'll run into problems attempting to withdraw. Furthermore, your withdrawal will be simple and easy - since the sportsbook will already have your information on file, there won't be any need to take further action.
Things to Know About PayPal Betting
Are there any issues you might run into with paypal sports betting? While this banking method has more advantages than most, there are a few aspects you should be aware of. Potential limits, time frames, and the possibility of transaction fees are all things to think about when deciding on gambling sites that accept paypal.
Potential Limits
It's important to keep in mind that some betting sites that accept paypal may put a limit on how much you can deposit in a certain time frame. While these limits are usually reasonable and allow plenty of wiggle room, high-rollers and big bettors may want to deposit a bit more.
The good news is, you can usually have these limits raised. Since each sportsbook has its own regulations regarding deposit and withdrawal limits, it's smart to contact them first. Remember, these limitations aren't imposed by PayPal itself, but by the betting provider.
Time Frames for Deposits/Withdrawals
Normally, PayPal deposits are instantly available for you to use. However, you will need to set up a PayPal account beforehand if you don't already have one. You must also fund it before using it to deposit at a sportsbook. Though this usually takes just a few minutes, it is an extra step to be aware of.
Withdrawals take longer than deposits because the sportsbook must process and approve your withdrawal before adding it to your bank or e-wallet. The funds you withdraw via PayPal will normally appear in your account within a few days, but the exact time varies depending on your gaming provider.
Transaction & Processing Fees
Are there extra fees associated with PayPal gambling? Usually, the answer is no. Betting sites that accept PayPal don't charge extra for this method, and any fees that PayPal may charge will be paid by the merchant. The only times you might run into fees is when you fund your PayPal account, or if you choose to add additional services like instant transfers.
PayPal charges nothing if you fund the wallet with a direct bank transfer. However, you can also connect your debit or credit card to your PayPal account. This is a convenient way to shop online, as you don't have to continually add funds to PayPal. However, using your debit or credit card through the service will incur a fee of 2.9% per transaction.
Furthermore, since PayPal processing takes time, some people choose to pay extra for instant transfers. Instant transfers incur a charge of 1% per transaction and cap off at $10. Most people never need this service, but it is smart to be aware of the cost if you're planning on using it.
Comparison with other Deposit Methods
If you're planning to do some online sports betting PayPal is one of the best banking methods you can use. However, there are other options out there. It's important to see exactly how PayPal compares before you decide.
Play+ Prepaid Card
A Play+ card acts like a debit card specifically for sports betting and casino sites. You fund it with your bank account, your actual debit or credit card, or even your PayPal account. Then, you can deposit funds right into your sportsbook account. You can even withdraw funds from the Play+ card at participating ATMs.
While Play+ is widely accepted at casino and sports betting sites, it isn't as versatile as PayPal. While you can use PayPal for all your online shopping needs, Play+ cannot be used outside of the online gambling world.
ACH/e-check
ACH/e-Check transactions are highly secure and dependable. Like a regular check, they allow you to transfer money from your bank account to a merchant. Unlike traditional checks, they're processed instantly.
They're also highly secure, dependable, and widely accepted by sports betting providers. The only downside is that ACH cannot be used outside of the US. So, if you're planning to travel or transfer funds to an overseas account, PayPal is the better option.
PayNearMe
PayNearMe is a good banking method for those who prefer dealing with cash yet still wish to make online transactions. To use PayNearMe, you'll need to head to a nearby retail outlet. These include 7-11, CVS, and Family Dollar stores. Once you're there, you fund your PayNearMe card with cash. Then, you use the card to transfer money to your online betting account.
You'll have to pay $3.99 each time you make a transaction with a PayNearMe card, and PayNearMe does not allow for withdrawals to the card. If you use this method, you'll have to withdraw your winnings another way.
Bank/Wire Transfer
Bank and wire transfers are another superb option. They can be used for both deposits and withdrawals, and are generally free of charge or have very minimal fees. Most online gambling providers do accept bank and wire transfer.
However, not all banks and credit unions will allow you to make a direct transfer to an iGaming provider. It's important for you to check the rules and regulations at your bank before attempting this kind of transaction, as your money could be stuck in limbo for a while if it's declined.
Credit Cards
Credit cards can be a great deposit method, as they're highly secure and quick to transfer. The problem is that they simply aren't accepted at most sportsbooks and online casinos. Even in fully legal states, acceptance rates remain as low as 50%.
Furthermore, using your credit card can incur bigger fees than other methods. Because deposits to casinos and sportsbooks are billed as cash advances, the fees can be as high as 3% on these types of transactions.
Cash at Trusted Casino Counters
If cash is king for you, making deposits and withdrawals at the casino might seem like an attractive option. When using a "cash at the counter" method, you'll go to a trusted retail casino location and make instant transactions in-person at the cage.
It's important to note that this option is only available when your online provider has a land-based casino or sportsbook partner. And while cash at the cage can be convenient if you live nearby, many find that having to travel back and forth to a physical casino can be time-consuming and not worth the trouble.
Betting Sites that Accept PayPal
So, where can you participate in PayPal betting? This e-wallet has become quite a common banking method, and there are many betting sites that accept paypal. Here's a list of providers to choose from:
How to Deposit at Online Betting Sites
To take part in PayPal sports betting, you'll need to set up a PayPal account to make transactions. Luckily for you, this is a simple process. Just follow the steps outlined below, and you'll be betting with PayPal in no time flat.
- Sign Up for PayPal: Navigate to the PayPal website or download the mobile PayPal app. Then, click the "Sign Up" button on the screen.
- Create a PayPal Account: To create an account, you'll need to provide an email address and set a password. Make sure you use a secure password that others cannot easily guess.
- Provide your Info: Once you've created your username and password, you'll need to provide additional information including your address, name, and phone number in order to continue.
- Add Funding Methods: Once you've entered in all your details, it's time to add ways to fund your account. You can link debit cards, credit cards or your bank account information to add money later.
- Verify your Account: The last step in the process is to verify your email address. PayPal will send you an email, and you'll simply check your inbox and click the verification link inside it.
- Use PayPal for Online Betting: Once you've verified your PayPal account and added funds, you're ready to get started with PayPal sports betting. Here's a rundown of how that works:
- Navigate to your chosen sportsbook that accepts PayPal.
- Click on "Deposit", then select "PayPal" from the list of deposit methods.
- Enter in the amount of money you want to deposit.
- The sportsbook's cashier page will redirect you to the PayPal website.
- On the PayPal site, you can review the transaction to make sure everything is correct.
- Click on "Send Money Now", and your funds will be transferred immediately.
FAQs
Can I use PayPal on all betting sites?
It depends where you are. PayPal only allows deposits to sites that are fully licensed in their resident jurisdictions. So, residents and visitors to Nevada and New Jersey can use PayPal because those states allow PayPal an option. Similarly, countries outside the US can elect to allow PayPal as a payment method for their online gaming sites. However, in unlicensed areas such as most of the states in the US, PayPal cannot be used on betting sites.
Can you use a family member or friends account to deposit via PayPal?
No. A PayPal account used to deposit at a betting site must belong to the account holder.
What are the advantages and disadvantages of using PayPal?
PayPal offers instant deposits. Credit cards, debit cards, and electronic bank transfers are among the deposit options. Players can also use PayPal for traditional purchases and eBay sales, making it more useful than some of its competitors. PayPal balances can also be created by receiving a transfer from a friend or business. The main disadvantage of PayPal is that there are deposit fees associated with credit card deposits. Withdrawals can be slower than other e-wallets.
Why do DraftKings and FanDuel accept PayPal?
DraftKings and FanDuel are daily fantasy sports sites. These businesses are considered to be skill gaming under most state laws. PayPal's legal opinion is that processing payments for FanDuel and DraftKings are legal in all jurisdictions that it operates.
What are the fees?
Typically, it is free of charge when you transfer cash from your PayPal digital wallet to a sportsbook. However, when transacting, there might be commissions charged.
Do I need an account to use PayPal? How do I get one?
Yes. You will need to open an account at the PayPal site, which is free of charge. You have to be 18 or older to open an account, but age restrictions (typically 21) still apply at sportsbooks.
Is PayPal allowed at mobile sportsbooks?
Yes. You can use your PayPal mobile app when you select the deposit option in the sportsbook cashier. You will be directed to the PayPal app to complete your transaction.
Is PayPal safe to use for online betting?
Often, yes, however PayPal isn't always accepted as a payment method when you try to claim a welcome bonus. It's worth checking the bonus terms and conditions before you open your gambling account.