PayPal, one of the more popular online avenues for making and receiving payments, hasn’t really been associated with bookmakers over the years. This has led to the misconception that folks cannot use it to fund online gambling when, in reality, many betting sites accept PayPal.
To be fair, the California-based company charges higher fees, which is why it’s not used as often as other wallets like Skrill and Neteller. Another aspect considered to be negative is the fact that most bookies require a minimum deposit of £10.
Many betting sites now accept PayPal.
Popular sportsbooks like Paddy Power, Ladbrokes, Boylesports, William Hill, and Coral offer PayPal as an option but Betfred stands out in that regard as they only require a minimum deposit of £5.50, which is lower than what most operators ask for, if not the lowest among such platforms.
Users can also withdraw as little as £5, while up to £5,000 can be extracted in just one transaction, although they can take up to 48 hours because of the processing time, which is seldom the case. Of course, you can also withdraw your winnings from their physical locations via an online account, even if you deposit through PayPal.
PayPal operates in over 200 countries but most of them do not support deposits and withdrawals where gambling is involved. If you’re in the UK, Austria, Belgium, Denmark, Finland, France, Greece, Ireland, Italy, Portugal, Spain, or Sweden, it should not be a problem. The method could be used to fund gambling in Nevada and New Jersey in the United States.
Given PayPal’s popularity, its technology is used by many people around the world. If you’re in one of the above locations and you already have an account therein, you simply need to ensure your wallet has fund; in some cases, you could use your credit or debit card through PayPal, which does the processing for you as they’d already had all of the necessary particulars.
There shouldn’t be any issues as long as the name on the PayPal account is the same as the one registered to the betting site, even if the email addresses differ. As with most companies, it’s unlikely you’ll be able to withdraw with PayPal if you did not deposit via their system.
Signing up for PayPal, if you don’t already have an account, is pretty straightforward. However, it will take a few days as the company will need to verify that the address and bank account you used to register is actually yours. They’ll ascertain the above by charging your account a very small fee which will make it so that the name of the transaction is a code, which you will then enter online.
Completing a full verification process is mandatory for using the service to fund your betting as a means of preventing fraud. Another benefit of this is users get to enjoy news-signup offers, something not typically available when using Skrill or Neteller.
While PayPal use is limited when it comes to gambling online, largely based on regional restrictions, it is an option with a number of sportsbooks and it’s likely more countries will be added to the above list in time to come.
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