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Betting With PayPal – An Overview
New customers only – Minimum deposit of £10 using deposit code 30F - A qualifying bet is a ‘real money’ stake of at least £10 placed on any sports market - Minimum odds of 1/2 (1.5) - Free bets credited upon qualifying bet settlement and expire after 7 days - Free bet stakes not included in returns - Deposit balance is available for withdrawal at any time.
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Betting with PayPal is becoming ever more popular – and for lots of good reasons. In this article we willlist the best sites that make use of PayPal and why it should be your preferred option. We will also discuss the pros & cons, how you deposit & withdraw with PayPal plus a brief history about the company and how it entered the online betting market.
PayPal Bookies: Best Sites That Make Use of PayPal
Bet365 – As one of the biggest betting sites out there Bet365 offers a great range of markets. You will also find numerous promotions & special deals. 10Bet – 10bet is one of the betting sites investing a lot in football team’s and former player’s partnership. More than 1 million users rely on BetMines. Follow our daily betting tips for football, analyse team statistics, follow other tipsters bets, test your strategy by creating free virtual football bets, follow livescore and much more! BetMines is a totally free football betting support application that offers several tools to help you increase your success rate and teach you how to bet. Imagine if you could enjoy the benefits of sports betting without actually losing money. Many individuals shy away from betting because of the risks involved. This betting game changes your outlook on betting by making it risk while still maintaining the thrill of gambling through the use of virtual money. BETUP uses real-time odds from 1xbet in the game to make betting on the app as realistic.
The following is a list of sites hand picked by our experts for betting with PayPal:
- William Hill– If you enjoy betting on football games then William Hill is the best option. They also offer high limits when it comes to withdrawals.
- Ladbrokes – If you’re looking for regular betting promos then Ladbrokes is your choice. They also offer gamblers great odds when betting on football.
- 888sport– This is actually one of the most respected bookmakers today. The company has been in the business of sports betting for many years. Make sure to check out its payouts for football games. It is no less than impressive.
- Unibet – If you want a bookmaker with plenty of experience then Unibet is for you. It’s one of the most well-known in the UK, offering amazing football odds and top live streaming.
- Bet365 – As one of the biggest betting sites out there Bet365 offers a great range of markets. You will also find numerous promotions & special deals.
- 10Bet– 10bet is one of the betting sites investing a lot in football team’s and former player’s partnership. They have paired with Juventus and Drogba and they communicate this all over the site which offers a great mobile experience.
- Bwin – A great up and coming bookmaker that has lots of top offers and promotions. It’s perfect if you’re looking for a bookie that rewards you throughout the year.
- Mr. Play – One of the latest bookmakers joining the UK betting world with an impressive user experience. It’s definitely the best option if you want to try out a new betting site.
- MansionBet – This is brilliant in terms of variety of sports, and offers more than most of its competitors – even the bigger ones. It’s innovate, quick, safe and secure.
Why should you use PayPal for Online Betting?
We all know that PayPal is a relative newcomer to sports betting. There are others who have been at it much longer than PayPal has. Nevertheless, PayPal has been in the e-wallet industry for much longer. Now, you have to weigh the pros and cons of using this payment method (we’ll go over that in a little bit).
When you use PayPal’s service you are banking on its decades’ worth of experience. That’s a lot of experience when it comes to providing security for your money. Note that there are countless transactions that occur on the company’s servers on a daily basis.
It brings its security experience while working with eBay on the table, which is an added guarantee. On top of that, the company offers its clients 6 levels of precautionary measures to keep each transaction safe. That’s the level of security that your account will get.
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What the company is doing is to simply take an entire suite of services that are already in operation and offer it to a different set and more specific group of customers. The level of security it offers makes it a pretty good option that you can switch to if you’re looking for an alternative to credit card deposits and bank wire transfers.
It offers the following services: global member protection, secure encryption technology, dispute resolutions, 24/7 monitoring, fraud prevention, and personal data privacy. If you have used e-wallets before, then you might find its sports betting services to be quite familiar.
If your bookmaker allows the use of PayPal, then you can use it to top up your account, usually without any extra cost. Other than top-ups that are free of charge, you can also take advantage of a deposit bonus that you can claim after making a first-time deposit.
Note that this is only one of the many betting promotions that you can take advantage of from PayPal. Do be aware that transactions usually take 3 to 5 days to complete. Also, understand that there are usually no fees when you transfer money from your PayPal account to your bank account, but check with your bank to be sure – since some banks do charge.
How to Use PayPal to Withdraw/Deposit Money on an Online Bookmaker
To make deposits via PayPal, you still need to go to your bookmaker’s payment page or payment section. You should fill out any information if necessary. They will then ask you to enter the amount you want to deposit or withdraw in case you are making a withdrawal.
You will then be transferred to the PayPal page where you will have to log in to your account. You won’t do much on your PayPal account page since the only thing that you will have to do is to approve the transaction that you performed (i.e. withdrawal or deposit).
The process for receiving money will be almost the same. You will have to go to the payment section of your bookmaker’s website and select PayPal as your payment processor. You will then be required to enter the amount of you will be receiving (in some systems this step is no longer necessary since the amount will already be indicated) and then you will be required to enter your bookmaker password as an added security feature.
How to Deposit with PayPal – Step by Step
- Log in to your bookmaker account
- Go to the deposit page and choose PayPal as your payment option
- Enter the amount you would like to deposit and confirm
- Now you will be automatically redirected to your PayPal account where you will need to log in and authorize the payment (Note, if you don’t have an account you can now register one from the same page)
How to Withdraw with PayPal – Step by Step
- Log in to your bookmaker account
- Go to the withdrawal page and choose PayPal as your preferred method
- Enter the amount you would like to withdraw and confirm
- Done! The money should be in your account within 48 hours
Linking Your Bank Account
What if you want to add cash to your PayPal account? There are two options available to you. The first one is through your bank account and the other option is through the PayPal cash service.
Note that before you can use your PayPal account for any type of transaction, you should link your account to your bank account. The process to link your bank account to your PayPal account will require a test withdrawal and deposit to and from your bank account.
Click “add money” link at the bottom of your PayPal account balance. You will then be asked to choose which bank account to use. You will then be required to enter the amount of funds you wish to add to your account and then you click “Add.”
To use the PayPal cash service you will then follow pretty much the same process. Now, instead of choosing a bank account you will select the local vendor that is associated with PayPal. You will then be given a special code or bar-code after requesting a deposit. Note that there will be a service for the cash transfer service which will vary from one vendor to another. Your PayPal account will then be credited immediately.
Security and Fees
Tight security is one of the main reasons why betting with PayPal continues to be the safest deposit and withdrawal method. This is primarily the reason why it has been so successful as an e-wallet service company. It offers top-notch security that has been tried and tested – which is one of the main reasons why the UK Gambling Commission continues to allow PayPal transactions.
This feature is quite attractive to bettors of course. It uses the latest technology, payments and other transactions are encrypted. Your financial and personal information will remain undisclosed throughout every transaction.
Note that making deposits on your PayPal account is absolutely free. The only time they will charge a fee is when you withdraw money for any transaction whether you’re betting for a sport or when you make a purchase online. This is where PayPal makes its money – it’s usually a 3.4% commission rate. Note that the rates change since transaction amounts vary and are classified according to tiers. Some tiers have lower commission rates, sometimes lower than 2.4%.
PayPal for Sports Betting: Pros and Cons
Here are the advantages and disadvantages of betting with PayPal for sportsbook transactions. Let’s begin with the pros:
- Betting with PayPal is available for mobile transactions. That means you can top up your bookie account balance, make deposits, withdraw your winnings, and complete your other transactions using your mobile device.
- PayPal’s reliability as an e-wallet is pretty high. Many people consider it one of the world’s best if not the best.
- The company’s customer service is also top-notch. However, you should remember to call the customer service team during business hours. Other than that, you can send an email to their support centre. The response is usually prompt.
- It offers instant money transfers.
- Many popular and reliable bookmakers accept this form of payment.
- When betting with PayPal, they may charge you certain fees when you make your withdrawals. Some fees are charged by your bank and others may be charged by PayPal.
- Though not exactly a con, per se, all transactions when betting with PayPal are documented. That means the local financial authority in your country can review your betting activity, which can be a bad thing for some people.
History of PayPal
PayPal wasn’t always known by its current name. They were once known as Confinity. The company was founded in 1998. Back then it was a close-knit small enterprise. Nevertheless, it was able to gain the trust of its clients and became the top payment method on eBay.
Through the years PayPal underwent a lot of changes. During its first year in operations, it was only doing software development. The following year after its establishment, the company started offering money services.
Business was going great and then it merged with x.com, which was an online banking enterprise. In 2001 after the merger it changed the name of the new company to PayPal.
Things went quite well. Well, it went so good that eBay became interested in the company. PayPal was eventually acquired by eBay in 2002 for 1.5 billion dollars.
PayPal only came into the online betting scene quite recently. Other e-wallets such as Neteller and Skrill, have been in the business for quite some time now but PayPal’s experience in the e-wallet business makes it a formidable competitor. In fact, a lot of sports betting pages nowadays accept PayPal as a mode of payment.
FAQ commonly asked questions about PayPal
Can I bet with PayPal?Yes, not only you can bet with PayPal but it is also suggested as one of the safest, quickest and simplest payment method for your betting transactions. In addition to this, some bookmakers also offer exclusive offers and promotions to those users choosing PayPal to make their deposits.
Do all betting sites accept PayPal?Yes, most of the bookmakers allow transactions through PayPal. PayPal is used for all kinds of digital payments, 2019 projections show that roughly 50% of all digital payments will be executed through Paypal, making it the most common form of online payment.
Is PayPal a safe payment option for sports betting?Yes, PayPal is considered one of the safest payment options for online transactions. Betting experts recommend using Paypal as payment method for online betting for multiple reasons with the most important being the fast processing times for withdrawals (up to 24 hours).
Do any fees occur when betting with PayPal?No, no fees occur when betting with Paypal. Not only both deposits and withdrawals are free but also deposits are instant, and the withdrawal processing times are amongst the quickest; a withdrawal takes on average 3 hours to be processed, at most 24 hours.
Can I still claim bonuses & free bets when I use PayPal?Yes, you can. There are no restrictions to promotions, bonuses and free bets while using Paypal as payment method as it happens with other forms of payment methods which are commonly known as e-wallets. The reason for this is that PayPal is a safe payment method for bookmakers as well.
How long does it take to deposit money with PayPal to a betting site?Deposits with Paypal are instantly credited to your betting sites. Assuming your Paypal account is funded, a deposit to any of the betting sites requires seconds to be fully processed. This makes PayPal the most used form of digital payment around the globe.
How long does it take to withdraw money with PayPal from a betting site?Paypal is one of the quickest payment methods for withdrawal processing times. It only takes up to 24 hours to see the funds available on your PayPal account. However researches show that on average a withdrawal done through PayPal only requires 3 hours to be processed.
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