When it comes to online payment methods, PayPal is one of the most well-known and trusted names for Internet-based financial transactions. But can you use PayPal to fund your online casino account with real money? We explain more about how PayPal works in the online gambling industry and why you should consider your alternatives.
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How does PayPal work?
PayPal is the world’s most popular online payment system, processing upwards of 12.5 million payments globally every single day. It was one of the first ever digital payment platforms, providing a fast, safe way to make online payments without having to share your financial information. The popularity of PayPal grew when it became the official payment partner of eBay, and ever since then it has solidified itself as a preferred way to make safe payments over the Internet.
PayPal is a free service that allows you to send money to anyone who has an email address that’s linked to a PayPal account. Your PayPal account is protected by the highest level of digital encryption security, providing a safe digital space for you to store money and save your bank account or credit card details for quick online payments. When you make a payment via PayPal, you simply enter your PayPal login details and follow the prompts to make your payment, without the payee ever seeing your personal banking information. Payments are fast, safe and easy, and protected by PayPal’s stringent anti-theft and anti-fraud policies.
Can I use PayPal to make a real money casino deposit?
Despite PayPal’s popularity, it is unfortunately very rare to find an online casino that accepts deposits or withdrawals using PayPal. This is due to PayPal’s terms and conditions which stipulate:
- The site operator must have obtained approval from PayPal to accept payments via the PayPal service.
- The site operator and all of their customers must be located exclusively in jurisdictions where online gambling is allowed under local laws.
Given that the laws surrounding online gambling vary so heavily from country to country, PayPal has mostly chosen to remove itself from the online casino industry entirely to avoid the headache of crossing into any legal grey areas. Online casino vendors know this, and rather than jump through multiple hoops to find a way to offer deposits via PayPal, it is easier to stick with other like-minded payment alternatives that happily cater to online gambling transactions.
Depending on the country you are playing from, you may come across some online casinos that accept PayPal deposits. If so, make sure the casino ticks all the right boxes in terms of safety, that it is protected by a minimum of 128 Bit SSL (secure socket layer) digital encryption and that is licensed by a reputable gambling jurisdiction.
How to deposit with PayPal
If you do find an online casino that accepts PayPal, making a deposit will be easy as most users are very familiar with the PayPal platform. When choosing PayPal as your deposit method, you will be redirected to the PayPal login page where you enter your email address and password, and will then be given the option of which of your linked accounts you wish to transfer funds from. Make your selection and click through to complete the payment and it’s as easy as that. Funds will appear instantly in your casino account, ready to dive right in and start playing your favourite casino games for real money bets.
Safe alternatives to PayPal
One of the reasons Internet users like PayPal so much is that it provides an extra layer of security between yourself and the person or organisation you are sending money to. Given that PayPal acts as a secure middleman, you don’t need to reveal your credit card details or bank account information to a stranger, so there are less chances of your personal financial details falling into the wrong hands or being intercepted by a hacker. What many people don’t know is that there are many online payment services that provide a very similar service to PayPal, so there are plenty of other options available if PayPal isn’t offered at your favourite online casino.
First up, there’s popular Web wallets like Neteller or Skrill. These work in a very similar nature to PayPal, providing a secure space for you to store your money online. When it comes to making your online casino deposit, you just enter your Web wallet information in the casino cashier and the payment is transferred over an encrypted service, without ever having to reveal your financial information to the casino vendor.
Secondly, pre-paid cards are a fantastic option for the safety conscious and are becoming increasingly popular with online gamblers thanks to the anonymity they provide. These e-Vouchers are purchased in real life from authorised retail outlets like gas stations, convenience stores or lottery outlets. In exchange for cash, you are given a voucher with a unique pin number, which can then be entered in an online casino checkout to transfer the amount of pre-paid funds over. There is no link back to your identity or any of your banking information. Paysafecard and Flexepin are two pre-paid eVouchers commonly accepted at online casinos.
Many other online payment providers have popped up over the years to create services that mimic PayPal’s offerings, with several online payment services that are exclusive to specific countries. To find out more about the safe online payment methods available for online casino deposits, read our detailed guide to online casino deposits here.