- Which online casino sites which use the global payment merchant?
- Pros and cons of using PayPal for your gameplay
PayPal is one of the world’s most widely used payment merchants, with over 200 million registered users. During 2016, more than 6.1 billion payments were made through the global processing company, and a Business Insider report recently revealed that if it were a traditional bank, PayPal would be among the twenty largest in the USA.
But what exactly is a payment merchant, and should you be using PayPal for your online casino needs? And more importantly, which of your favorite online casinos will accept PayPal as a payment method? We’ve dug into the pros and cons of the payment exchange platform to help you out – and we’ve compiled a list of the top internet casinos that accept PayPal payments.
How to use PayPal at an online casino
Customers who haven’t already signed up for PayPal, will need to visit their website and create an account. This is a free service for individuals with a standard account, though premium accounts can be created for businesses and those carrying out high level transactions.
The service will require the details of a valid credit or debit card, or a bank account. This will be used for all payments via PayPal. Once the payment method has been verified, the account is ready to be used. You can deposit funds into the account to create a PayPal balance, or the service can charge your card or account with the amount you spend through the payment platform.
Head over to your favorite online casino, or sign up for an account at a new one. We’ve listed some top casinos below that will accept PayPal as a payment method. Select the PayPal option when asked to choose a payment method, and authenticate the connection by signing into your PayPal account.
When you make a deposit, funds will be taken from your PayPal balance. These will be available immediately. If you don’t have an account balance, funds will be charged to your selected payment method on PayPal. This should also be instantaneous.
To withdraw a win, type in the amount you wish to transfer to your payment account. Depending on the casino site you use, these funds should appear in your PayPal account between two hours and five days from the time you made the withdrawal. Once the cash arrives in PayPal you can spend it online via the payment site, or transfer it to your card or bank account.
Online casinos which accept PayPal
The following casino sites are registered with PayPal and accept it as a payment method (correct at time of writing):
- Betfair Casino
- bWin Casino
- Powerspins Casino
- Jackpot City
- Spin Palace Casino
- Virgin Games
- William Hill Casino and Mobile Casino
- Mr Green
- Paddy Power
- 888 Casino
PayPal’s pros and cons for casino players
- Easy to sign up and get started
- Deposits available for play instantly
- Withdrawals processed quickly
- Widely accepted across many sites
- Protects players’ payment details against fraud
- Pay in a number of currencies and countries
- Requires an additional account as well as casino membership
- PayPal sets withdrawal limits pending account verification
- Premium protection and money management are fee services
- Charges currency conversion fees
- Not accepted at some sites and in some countries
What is PayPal?
PayPal is a ‘payment merchant’ which means its business is in the processing of financial transactions. It acts as a secure third party through which buyers and sellers can make their purchases, under the protection of the PayPal system. It originated as a means for online traders to get paid for their items, and became an integral part of the eBay service.
However, it has expanded rapidly to process all manner of commercial and private payments, as well as offering financial products like loans and credit cards, though it is not technically classified as a bank, though it is subject to various banking rules, codes and regulations.
PayPal and currency conversion
PayPal is currently available in over 200 countries worldwide, and the platform supports 25 different currencies. Payments made and received are instantly converted into the relevant currency at market rates, although PayPal’s own fees may also apply. If a player is using an online casino site from outside of their own country, they should be aware of these currency conversion fees if opting to use PayPal.
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