The Pros and Cons of Using PayPal for Online Gambling
PayPal was founded in 1998, was taken over by eBay in 2002 and has to this day grown into a globally popular and recognized payment method that is widely used within online gambling. Whether you prefer sports betting or playing online casino games, PayPal has everything you need for safe, reliable and fast transactions. Nonetheless, there are also downsides when it comes to using PayPal. In this blog, we will provide you all the facts about the pros and cons of using PayPal for online gambling!
– Safety and Speed
Many people consider PayPal to be one of the safest payment method currently available. PayPal has developed its functions in such a way that players not have to give their creditcard details to online casinos. In addition, PayPal uses several security measures that ensure that your account and money are protected. Furthermore, the speed of the transaction is also an additional advantage. When you have deposited something, in most cases it is processed immediately by PayPal. This will also immediately increase your balance in the online casino. Therefore you can start playing almost immediately after depositing.
– Available in The Best Online Casinos
Today’s online casinos offer more and more different payment options. In recent years, many well-known casinos also have added the e-wallet PayPal to their options. The number of PayPal users is still increasing every year.
– Simple and Easy
The registration for a PayPal account is very easy and can be done very quickly. To create a PayPal account you only need your email address and some personal information, which you can link to your bank account. This information is not shared with anyone!
You can then transfer money from your bank account to PayPal and deposit it into your favorite online casino. This whole process is very quick and easy!
Should you encounter any problems, you can be sure that PayPal’s customer service will help you out. They offer an excellent customer service!
In addition, we can guarantee that very little can go wrong if you want to deposit money. This is because PayPal has thoroughly checked all the casinos that use PayPal. In addition, because you do not have to enter any personal information when you want to deposit money at your online casino, people cannot manipulate your data. This allows you to pay safely and anonymously.
– Quick Withdrawals
Have you raised a nice amount of money? Good for you! The big advantage of PayPal here is the speed of the withdrawals. Whereas some payment methods can take up to 2 days before they pay you out, with PayPal you can (usually) have the money deposited into your account almost immediately.
– PayPal is Not Seen as Legal Everywhere
The biggest disadvantage is that in many countries PayPal is not seen as a legal payment method. Incidentally, there are also stricter rules in various countries on the use of PayPal.
In general, you see that especially countries within Europe have the possibility to pay with PayPal. For example: UK, Belgium, Finland, Greece, Italy, Spain, Austria, Denmark, France, Ireland, Portugal and Sweden.
This means that in countries such as the USA (with the exception of Nevada, New Jersey and Delaware), India, Turkey and Egypt it is not possible to use PayPal.
– The Transaction Fees
The use of PayPal may also incur costs when you receive money or want to deposit money into your bank account. These costs consist of fixed costs and a certain percentage of your total amount. These transaction fees therefore ensure that a part of your casino winnings is confiscated. For some gamblers, this is the reason why they don’t choose PayPal, but rather another payment method.
When we compare the pros and cons of using PayPal for online gambling, we see that the pros are definitely outnumbered by the cons. And whit a reason! PayPal is simply a great option for gamblers who like to play online casino games and want to complete their transactions in a safe way. However, do you live in an area where PayPal is not allowed, or do you find it not worthwhile to pay transaction fees? Then another payment method is more suitable for you.