Best PayPal Betting Sites UK - 2022

Pros and Cons of PayPal Betting Sites

PayPal needs little introduction. It’s the obvious choice for many people who enjoy sports betting, but is it the perfect payment method for you? We’ve pulled together the pros and cons of using PayPal at betting sites to help you decide.

A Closer Look at PayPal

Even if online betting with PayPal isn’t something you’ve done before, chances are you’ve already used PayPal in other capacities, or heard of it at the very least. The e-wallet rose to prominence as a result of its popularity with eBay users and is now a household name.

PayPal was originally founded as Confinity by Max Levchin, Peter Thiel, and Luke Nosek in 1998. In 2000, it merged with x.com, an online financial services company co-founded by Elon Musk. The merged entity was renamed PayPal in 2001 and went public the following year. 

Following PayPal’s acquisition by eBay in 2002, its user base surged as it became millions of buyers and sellers’ preferred payment method worldwide. eBay spun off PayPal in 2015, but the company has continued to be a major player in the years since.

PayPal has made numerous acquisitions of its own and continued to develop innovative new features in recent years. Users can now buy, sell, and hold cryptocurrency from their PayPal app, while the Pay in 3 service allows customers to split purchases over three, interest-free instalments. 

As of 2022, PayPal operates in more than 200 countries, supports 25 currencies and has nearly 430 million active, registered users around the globe. All things considered, it’s safe to say PayPal is one of the most reputable payment providers available online today. It’s no surprise, then, that PayPal betting sites are so popular.

How to Set Up a PayPal Account

If you don’t already have one, setting up a PayPal account is a quick and easy process and offers a range of benefits — not only will you enjoy fast withdrawals when betting with PayPal, but you can also use your account to make secure payments at thousands of online stores.

Follow the steps below to get started.

1. Head to the PayPal website and click Sign Up – begin by heading to the PayPal website or downloading the app, and click the Sign Up button;
2. Choose a Personal or Business account – the vast majority of users only require a personal account, and this is all you’ll need to deposit and withdraw funds at PayPal betting sites, send money to friends and family, and make purchases online. A business account allows business owners to integrate PayPal checkout onto their website, receive payments from buyers, and have logins for up to 200 employees;
3. Enter your phone number – enter your personal phone number, ensure the country code is correct, and click next;
4. Fill in your personal details – here you’ll need to provide your name and address, and choose an email and password for your account;
5. Read the T&Cs and create your account – next, read and agree to PayPal’s user agreement and privacy policy. Then, click ‘Agree and Create Account’ to confirm.
6. Link a card or bank – to fund your new PayPal account, you’ll need to link a debit card, credit card, or bank account. These details will be saved so you can easily add and withdraw funds from the digital wallet whenever you need. You don’t need to have money in your balance to make payments though, as PayPal can also initiate payments directly from your bank;
7. Set up 2-step verification – to add an extra layer of security to your account, it’s always a good idea to set up 2-step verification. Each time you log in using a new device, you’ll need to authorise the log in with an extra step — this helps to prevent hackers accessing your account if they get a hold of your password. You’ll need to be on the PayPal website to set this up — head to settings > security > 2-step verification. From there you can choose your verification method — ‘text me a code’, ‘use an authenticator app’, or ‘use a security key’.

Making a PayPal Deposit

Whether you like a bit of esports betting or enjoy creating ambitious accas for football markets, you’ll want an easy way to fund your account – and that’s exactly what PayPal is. Once your chosen sports betting site has verified your identity, you’ll be able to instantly deposit using PayPal in just a few steps. Of course, before you get started, you’ll need to register with PayPal. A personal account can be created in just a few minutes – all you need to share is your name, address, phone number and email address. As far as deposit methods for online betting goes, it’s certainly not complicated.

Fast Withdrawals with PayPal Betting Sites

Betting with PayPal is a great option for customers looking to prioritise fast withdrawals. Rather than having to wait around, cashing out via PayPal ensures you’ll receive your funds within 48 hours. Often, the process is completed quicker still, either within 24 hours or instantly in some cases. 

The reason the PayPal withdrawal speed may vary is because there are external limiting factors, the main one being the betting site’s internal processing speeds. Every bookmaker has its own process for verifying a customer’s withdrawal —  this is to ensure that the payment isn’t fraudulent, that the customer’s withdrawal limits haven’t been exceeded, and that the money is going to the right place. Many fast withdrawal betting sites are able to complete this verification process within minutes, while others take up to 24 hours or longer. Only once this process is complete can PayPal go ahead and take care of the rest.

To set yourself up for fast withdrawals, you’ll first need to create a PayPal account by following the steps we’ve outlined in the previous section. Once you’ve created an account and connected it to your bank, follow the steps below to withdraw funds from your betting account using PayPal:

1. Head to the cashier page of the PayPal betting site;
2. Select the option to withdraw funds from your account;
3. Choose PayPal as your preferred withdrawal method;
4. Key in the amount you’d like to withdraw;
5. Click confirm to submit the request.

Bonus Exclusions at PayPal Betting Sites

There’s a wide variety of online sports bonuses available at PayPal betting sites, so new and existing customers always have plenty to choose from. Many bookmakers’ bonuses are activated by making a qualifying deposit, such as welcome offers you can claim by signing up to a site and adding funds to your account for the first time.

Unfortunately, at many betting sites, PayPal and other e-wallets are excluded from unlocking these deposit bonuses. This can be frustrating for punters, but it’s even more frustrating if you don’t realise until after you’ve made your deposit. For this reason, always be sure to read the terms and conditions of an offer before you get started.

There are legitimate reasons for these bonus exclusions, however, which are largely out of the betting site’s control. For example, PayPal has higher transaction fees than other vendors such as banks, and these costs are levied on the betting site. To permit PayPal as an eligible deposit method to unlock bonuses could therefore result in a loss for the bookmaker.

Another factor is that deposits via e-wallets such as PayPal have less thorough Know Your Customer (KYC) capabilities. Excluding PayPal from promotions therefore reduces the risk of bonus abuse, where customers could attempt to claim an offer multiple times.

While bonus exclusions are a significant pain point for PayPal users, don’t forget that you can use a temporary alternative such as a debit card, and then switch back to using PayPal for deposits and withdrawals once you’ve claimed the bonus. Bear in mind, however, that some sites put a stopper on this, so again it’s important to check the T&Cs.

Make a PayPal Deposit and Claim your Bonus

All of the best PayPal betting sites offer a variety of bonuses and promotions. While a welcome bonus is the offer of choice when it comes to attracting new customers, the UK’s top sports betting sites also boast an array of promotions for returning customers, ranging from free bets offers, enhanced odds and money back if your first bet loses. These kinds of promotions are often used to promote a big sporting event, such as the start of the Premier League, or high profile boxing bouts. 

At most UK betting sites, you simply need to sign up and make a qualifying first deposit or wager to claim the welcome offer, but some require a promo code. You can count on our sportsbook reviews to point you in the right direction when it comes to claiming your offer.

Free Bets

Free bets are one of the most common types of offers at PayPal betting sites. They’re often featured as part of a welcome offer for new customers, or as special deals for existing punters. Essentially, they’re exactly what they say on the tin — you’ll be able to place a bet without using any of your own cash. 

There’ll usually be a limited range of markets eligible for your free bet, as bookmakers often use them to promote a particular sport. For example, you could pick up a free bet to use on any Premier League match at the weekend. Alternatively, a site may offer a free bet exclusively for live betting.

Matched Deposits

Matched deposits are a popular type of welcome offer for new PayPal betting customers. Essentially, the betting site will ‘match’ your deposit to a particular percentage — a 100% match on a £20 deposit would add an additional £20 in bonus credit to your account, effectively doubling your available funds and leaving you with £40 to play with.

These types of offers will have a bonus limit — for example, a ‘100% deposit match up to £200’ would mean £200 is the maximum bonus you could receive. There’ll also be a minimum deposit required in order to qualify, usually £10 or £20.

Promo Codes

While many bonuses simply require you to sign up and add funds to your account to qualify, others require a promo code to get in on the action — there’ll usually be an option to enter one when you register with a site.

Some sites display their codes front and centre on their homepage, while others are a little more exclusive and appear in selected adverts. When browsing the range of betting deals here at Compare.bet, we’ll let you know if you’ll need a promotional code to pick up the rewards.

Bet x Get y

While matched deposit offers allow you to claim rewards when you make a deposit, other bonuses are activated by actually placing a bet. Here’s an example of a welcome offer you might see along these lines:

• Sign up, bet £10 & get £50 in free bets

There’ll usually be stipulations around the qualifying bet, such as the odds it’s placed at, so be sure to read the T&Cs before you get started.

Profit Boosts

Profit boosts are another popular offer at PayPal betting sites. On selected bets, the bookmaker will advertise an increased potential payout if your bet wins. Acca boosts work in a similar way — accumulators with a certain number of selections will have their payout increased by a certain percentage.

Bonus Terms and Conditions

It’s important to read the bonus small print before you sign up to claim your reward, as terms and conditions apply to every sports betting deal. Most betting offers require a minimum deposit, while others set minimum odds and market restrictions. There are also usually caps on how much you can win, expiry dates on offers and promotions, and some bonus winnings are subject to wagering requirements. Significant terms and conditions are always clearly outlined at Compare.bet.

If you’re interested in playing online casino games as well as betting, make sure you choose the right sign-up offer. At gambling sites with a shared wallet (where you can play all their products under a single account), you may not be eligible for a new customer casino bonus if you already claimed a new customer free bet. With casino bonuses often being larger, it’s one worth considering before you join.

Bet on the Go with a Mobile PayPal Betting Site

Convenience is part of what makes PayPal so appealing, and the ability to pay and play on your mobile device only adds to this convenience. In Q4 of 2018, mobile payments represented a staggering 41% of PayPal’s total payment volume, which goes to show that it’s a firm favourite for consumer money transfers.

Pretty much every PayPal sports betting site has a mobile-friendly website, which makes it easy to bet on sports with this popular e-wallet whenever and wherever. However, the very best PayPal bookies go one step further with mobile betting apps. These apps make for an even better betting experience. With a mobile betting app, you can navigate from your home screen to your betslip in just a couple of taps. You can also take advantage of push notifications to stay in the loop on the latest promotions and odds offers.

Try One of 2022’s New PayPal-Friendly Bookies

PayPal is already a widely accepted payment method at the UK’s top online betting sites, but what about the newest bookies on the market? While brand new betting sites may have to earn their reputation before they can accept PayPal, the good news is that betting with PayPal is possible at many new betting sites.

Try These Alternatives to PayPal

All clued-up on PayPal, but not sure it’s the right payment option for you? There are plenty of alternatives at the top sports betting sites. We’ve put together a list of banking options that are widely available at online bookmakers.

Bet Securely at PayPal Betting Sites

PayPal is one of the most secure online payment providers out there. Incorporating the security protocols into its everyday operations, PayPal works hard to protect its customers. It monitors every transaction 24/7 to minimise the risk of fraud and has procedures in place to act fast if it does suspect a fraudulent payment.

All this being said, there are a few steps you can take to further ensure your safety when betting with PayPal:

Only Bet at Secure Sites

PayPal is pretty selective in terms of which sites can offer its services, but you should still double-check the safety of the bookmaker you’re betting at. Look for the small padlock and ‘https’ in the URL bar (the ‘s’ stands for secure). You should also stick to licensed sports betting sites, which are the only kinds of online sportsbooks you’ll find here at Compare.bet.

Enable Two-Factor Authentication

Two-factor authentication, or 2FA, adds another layer of security to your account. PayPal has its own 2FA process, the PayPal Security Key. When you activate this, you’ll need to enter a unique one-time code that’s sent by text each time you log in. You can also protect your PayPal account with security questions, just to make it extra secure.

Beware of Phishing Emails

Keep an eye out for any emails that claim to be from PayPal and ask you to disclose details about your account. PayPal says that it will never ask for sensitive information, so any such emails should raise red flags. Likewise, you should never click on links or download attachments in these kinds of emails. Have you reived a suspicious email? Contact the PayPal customer support team, and delete the email from your inbox.

Extra Security Tips

• Avoid betting with PayPal on a public or shared device, especially if you’re using PayPal’s One Touch feature;
• Choose a unique password that includes a combination of upper and lowercase letters, numbers and special characters;
• Contact PayPal and your bank as soon as possible if you suspect that your account security may be at risk.

Responsible Gambling with PayPal

Gambling can be a lot of fun for many people, but for others, it can be a source of addiction. That’s why PayPal have taken the step to allow players to block gambling transactions from their PayPal account. That means that if you are struggling with a gambling problem, you can opt out of making deposits and withdrawals on all sports betting markets, including horse racing, using PayPal.

As well as blocking PayPal transactions directly via the e-wallet, you can also contact your bank to block all gambling transactions, use Gamban to block all online gambling, enter the self-exclusion programme provided by GAMSTOP and get in contact with GamCare to receive specialised support.

Get Started at a PayPal Betting Site

Now that you’re up to speed on how PayPal provides a fast, convenient, secure way to place bets on your favourite markets, you can try it for yourself at one of the best PayPal betting sites.

Head back to the top of this page to compare the top PayPal sports betting sites right here, read our expert reviews of the featured sites, and when you’re ready simply click the link to claim your welcome bonus and get started.

References and Related External Links

Please note that Compare.bet is not responsible for the content of third party websites.

1. PayPal.com – ‘PayPal Help Guides’
2. NCSC.org.uk – ‘Setting up two-factor authentication (2FA)’
3. GamCare.org.uk – ‘How can gambling affect your life?’