People who want to play at online casinos for real money obviously need to transfer funds to their casino account before they start playing. Online casinos accept various types of payment methods, so that people from across the globe can easily fund their casino accounts and start playing.
One downside for the past few years though is that even though PayPal is available to residents of the USA, no US casinos or betting sites were allowed to accept it as a deposit or withdrawal method. That changed recently though (September 2015), and PayPal re-entered with US market (albeit it very gently). Now, in states where online poker is legal, you can pay with PayPal and it can also be used at some daily fantasy sports sites.
WHAT IS PAYPAL?
PayPal is an online money transaction service that enables you to make and accept payments without divulging any of your financial information. This service is available in 180 countries across the globe. Also, 18 different currencies are supported by PayPal. So you can enjoy all the exciting games on your favorite casino, without worrying much about the financial transactions involved.
PayPal is by far the most popular way to send money online and has a great reputation for being a safe and secure way to pay for things online. There are rivals to PayPal such as Skrill and Neteller, but there’s no doubting that PayPal is the original and best. In fact it’s so good that eBay bought it, and now the vast majority of purchases on eBay are paid for through PayPal.
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HOW DOES PAYPAL WORK?
PayPal operates like a digital wallet in which you can securely store all the payment options, like your credit card and bank account. To make a payment, you just have to click on the PayPal button on a site, log in to your PayPal account and make a deposit. Because of its wide reach, most of the e-commerce sites allow consumers to purchase various goods and services using this service. To set up a PayPal account, all you need is a valid email address and a bank account or credit card.
Once you have a PayPal account, you can make use of your debit or credit card to fund it. Then, you can fund your online casino account using PayPal simply by clicking on relevant link on the site. After you have entered all the details, PayPal transfers the specified amount to your online casino account, without divulging your account login and credit/debit card information. The screen shot below shows how things work on, which incidentally is one of the best PayPal casino sites on the interweb
BENEFITS OF USING PAYPAL
One of the most import things that people look for when choosing an online casino is the security of the online transactions. People choose a particular gaming site only when they are assured that all their financial transactions will be highly secure. PayPal online casinos offer a perfectly secure online transaction system as PayPal never shares any of the banking information with the online casino. You do not have to worry about the process of currency conversion either, as it is automatically handled by the system.
Besides, most of the online casinos do not charge you any fee for depositing via PayPal. Also, the process of transaction will be completed more quickly when compared to other deposit methods. I’ve never had to get a refund from PayPal for a gambling transaction but I did have to get a refund when I ordered a garden shed and it never arrived.
What happens is you file a complaint with PayPal and they give the seller or merchant about a week to respond. They then evaluate that response and decide which side is in the right. In the case of my garden shed, the company never responded and PayPal refunded my money!
How to Deposit Using PayPal
Making a deposit is extremely simple. If you are at a casino that accepts PayPal, you should see it listed under the options listed on their cashier page. Once you choose it, you’ll have to determine how much you want to deposit. From there, you’ll be taken to your PayPal account and go through the same verification steps you would if you were making a purchase online. The entire process can be completed in a minute or so, and your funds should immediately appear in your casino account.
Why Use PayPal?
PayPal is fast, reliable, and secure, making it one of the best ways to complete any online transaction, including deposits into casino sites. A typical transaction takes just moments to complete, and there is little risk of identity fraud or similar concerns when using the service. PayPal also allows you some flexibility in your funding, as you can either use money already in your account or link a bank account or other financial device in order to fund your purchase and deposits.
It can also serve as your withdrawal method from online casinos. That means that, as long as you are playing at sites that accept PayPal, it can be your single stop for moving your funds around, as all of your casino banking can go through the same account.