PayPal is probably the largest institution around the world for all types of online payments. PayPal is the electronic method of making payments across the globe rather than sending cash and having the possibility of it being lost or stolen. It is also one of the best payment options to use when playing for real money at a PayPal casino. It allows you to deposit you money in as safe and secure a way as possible.
PayPal is known the world over for being the most recognisable and popular eWallet for making payments online. The company began life as ‘Confinity’ in 1998, but quickly merged with X.com, a fledgling online banking company created by Elon Musk. This combined company was renamed PayPal in 2001.
PayPal’s fortunes exploded in the early 2000s when it became the payment system of choice for people using eBay, the then developing online auction site. It was bought by eBay in July 2002 for $1.5 billion, but was spun off again in 2014 as a separate company.
PayPal remains the biggest eWallet globally, despite competition from the Paysafe Group (Neteller, Skrill, Paysafecard). It’s estimated that there are currently 200 million PayPal accounts in use across the globe.
Pros and Cons
- Extra security – all you need to pay is your PayPal email address
- Multiple ways to pay – link credit/debit cards and bank accounts to your PayPal address
- Manage all your PayPal account details in one place
- You can use PayPal in thousands of outlets, offline and on!
- Customer support is reportedly not the best
PayPal itself is extremely secure. You can keep money in your PayPal account, but most people connect a credit or debit card, or their bank account to their PayPal account. You can ‘auto-approve’ any transactions via PayPal but if security is a concern, then you should set your account for all purchases to be approved. That way, if someone with bad intentions does get hold of your PayPal email address and password they will be unable to take money from your connected accounts without you knowing about it.
When it comes to depositing at an online casino, there is no need for the casino to store your PayPal email address or password, as deposits are made on a payment-by-payment basis.
Deposit and time
Depositing from your PayPal account is almost instantaneous. Just go to the deposits section of your chosen online casino and enter your desire to fund your account using PayPal. You should then be taken via a pop-up window to PayPal itself in order to ratify your deposit. The money should quickly appear in your casino account.
Withdrawals can be just as speedy, but some online casinos will take between one and three days, after payment processing is complete.
PayPal is so popular because it is so easy to use. You can open a PayPal account simply with a valid email address. You can then fund your account on a payment-by-payment basis, or link your PayPal account to your bank account or any number of credit or debit cards.
If the financial world handed out awards for ‘ease of use’, then PayPal would win hands down. Payments can be made as easily as correctly typing in your email address! Not all online casinos accept PayPal, but an increasing number do. Check out the best PayPal-happy casinos here at CasinoUK!