Why use PayPal for sports betting?
PayPal is one of the most popular payment methods out there, used by over 200 million people in countries all across the world. By far the best-known e-wallet, PayPal’s success has seen it become a popular payment option at many top online betting sites. But what makes it so great? Let’s find out.
People often associate PayPal with increased security, and with good reason – it’s one of the most secure payment methods out there. That’s not to say that using a bank card is necessarily unsafe – all licensed bookies already have strict security systems place to protect your details. However, using PayPal means you don’t have to share any sensitive information, such as bank details with a third party, so there’s an extra layer of protection against potential hackers.
PayPal themselves also have powerful end-to-end data encryption and fraud protection in place to safeguard your account. On top of this, whenever you make a deposit you’ll have to authorise the transaction by logging into your PayPal account. You can also activate PayPal’s Security Key for added safety. This is a two-factor authentication (2FA) system which means you’ll be required to enter a unique one time code that’s sent by text each time you log in.
As well as being safe, PayPal is one of the quickest payment methods out there. Deposits are processed instantly at pretty much every online bookmaker, so you’ll be able to start betting straight away. You also won’t have to spend any time fiddling about entering your bank details – simply log into your PayPal account and you’re good to go. PayPal’s One Touch feature can be activated to streamline the process even further. This means you’ll stay logged in so that you can complete payments in just a few simple clicks.
Withdrawals always take longer to process than deposits, but PayPal offers quicker withdrawal times than some other payment methods. Most PayPal sports betting sites aim to get withdrawals completed quickly, usually within 24 hours, but it can take several days depending on the bookie and it’s security procedures. The good news is that once your betting site has processed the request, your funds will be transferred instantly to your PayPal wallet.
More and more punters are using mobile betting sites, and PayPal suits mobile betting down to a tee. With high quality, free apps available on both iOS and Android devices, it’s incredibly easy to manage your PayPal account from the palm of your hand.PayPal’s key pinning security feature means that you don’t have to compromise on security when using a PayPal app. This stops fraudsters and hackers intercepting your connection to keep your information safe and secure.
It’s important to have a helpful support service available for anything that involves money and sensitive information, and PayPal comes up trumps in this regard. You can use the comprehensive Help Centre to get answers to many common FAQs, as well as a handy ‘ask the community’ service and a resolution centre to help solve transaction issues. You can also call or email the customer service team for additional information and support.
PayPal also closely monitors users’ activity to help prevent fraud and hacking. You’ll receive confirmation of any transactions you make via email, so in the unlikely event that there are any issues, you’ll know straight away. If there is any suspicion of fraud, PayPal has procedures in place to quickly secure your account, and you won’t be liable for any unauthorised payments in the event of a breach.
Although PayPal is among the most efficient and secure payment methods you can use at sports betting sites, unfortunately, it’s not completely perfect. The following drawbacks should be considered if you’re thinking about using PayPal to bet online.
Limited choice of betting sites
Unlike debit cards, PayPal isn’t accepted at all online bookies. When browsing sites, remember to check the accepted payment methods before signing up to avoid disappointment.
The good news is that there’s plenty of top betting sites that accept PayPal.The likes of Ladbrokes, Coral, Betway, MansionBet and many more all accept PayPal, so you shouldn’t have too much trouble finding a bookmaker you like. You can use our list to find out all the top betting sites that use PayPal and save you the hassle of searching for one.
You won’t be able to claim every online betting bonus using PayPal. While most bonus exclusions apply to Neteller and Skrill deposits, some bookmakers have terms and conditions in place which state that players making e-wallet deposits aren’t eligible to claim bonus rewards. There are a number of casinos that do allow PayPal users to claim their bonus deals, so we recommend reading the terms and conditions of any bonus before claiming.
PayPal doesn’t charge any fees for sending money in the UK providing that the payment is funded by your PayPal balance, bank account, debit card or prepaid card, and as long as there is no currency conversion involved. On top of that, almost every online sportsbook that accepts PayPal doesn’t charge bettors any additional fees. Just remember to double check the terms and conditions to be safe.
Using a credit card to fund your PayPal deposits is one of the few instances you’ll find that requires a fee from the user. PayPal will charge you 20p plus 3.4% of the transaction. While this fee is relatively small for some, it’s one that could accumulate over time for frequent depositors.
One of the reasons that debit card remains the most popular payment method is because there are no extra accounts involved. Creating and verifying a PayPal account is a quick and easy process, and it may even save you time in the long run, but having an extra account to manage is not to everyone’s taste.
If you want to fund PayPal transactions without restriction, you will also need to verify your bank account. To do this, PayPal will deposit 1p into your bank account along with a 4 digit code which will appear on your statement. You’ll then need to enter the code into the PayPal website to confirm your account. This may be a bit of a hassle for some bettors, but it is necessary for security purposes.
PayPal isn’t available at all sites and can’t always be used for bonuses, so it may be not ideal for all bettors. However, if you’re looking for a payment method that offers fast deposit and withdrawal times, top level security and a great support service, then you can’t go wrong with PayPal. Sound good? Use our list to compare and sign up at your ideal sports betting site today!
|Betting Site||PayPal Deposit?||PayPal Withdrawal?||Rating||Licence|
|Yes||Yes||9.9||UK Gambling Commission|
|Yes||Yes||9.7||UK Gambling Commission|
|Yes||Yes||9.5||UK Gambling Commission|
|Yes||Yes||9.3||UK Gambling Commission|
|Yes||Yes||9.2||UK Gambling Commission|
|Yes||Yes||9.1||UK Gambling Commission|
|Yes||Yes||9.4||UK Gambling Commission|