Using PayPal as a Casino Payment Method
What is PayPal?
PayPal is an online transaction processing payment solution suitable for shopping and making online payments to various venues via a virtual environment. Thousands of online shoppers use PayPal every day to make secure transactions online through online store shopping carts and payment portals. To use PayPal, you must sign up for an account. You will need at least one valid email address, although you can use more than one address when using the account if you desire. You also must have an active checking account in good standing that you can connect to the card. Once you sign up, PayPal will make one or more small deposits into your account and you must verify the amount you receive (usually it is just a few cents) to ensure the account connects correctly; this way, if you ever go over the amount of your PayPal balance, the remaining funds are drawn from your checking account.
Emerging on the scene in the late 1990s, PayPal remains a leader in the industry of online payment solution providers. About five years after its initial establishment, PayPal was taken over by none other than eBay, and within another five years following the take over the company expanded further by getting a European license. The system allows for the use of a range of currencies and today, there are well over 100 million users of this convenient e-wallet option. Transactions are free for buyers, whereas sellers pay a nominal fee for the use of the system.
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Using PayPal in the Real-World Setting
If you want to use PayPal in physical stores or brick and mortar casinos, the company offers members use of a debit card as well which draws from the fees put into the PayPal account. You can use the debit card to make cash withdrawals via an ATM, provided you have a balance on the card, and you are willing to pay the ATM fee for processing the transaction. To make a cash withdrawal, you must choose “checking” as an option on the ATM when asked what type of account you are working with and then follow the remaining instructions for withdrawing cash. As another alternative, you can apply for a PayPal credit card, but as it is with any credit card, you must meet credit qualifications for approval.
Using PayPal in the Online Gambling World
PayPal is an excellent funding option when it is made available to you from an online casino provider. The e-Wallet system allows you to use your credit cards or banking solutions without having to expose your account information; this is excellent protection from identity theft. Not every casino establishment offers access to PayPal transaction solutions, but you will often find the option available at casinos with gaming supported by NetEnt software.
Funding Your Player’s Account
For all intents and purposes, you will need to follow the funding instructions provided to you by the casino of your choosing, but the act of funding an account is not only standard, you’ll find it very easy too. Visit the cashier, banking area, or payment page of the website in question. Indicate the amount of funds you want to transfer from the PayPal account into your player’s account. You will be asked to log into your PayPal account: Just following the prompts and the deposit is immediate. Find an online casino allowing you to deposit via PayPal, today!
Cashing Out with Your PayPal Account
Repeat all the same steps you made when funding your account, only this time indicate how much you want to take out of your player’s account to transfer to your PayPal. Within seconds the cash you request appears in your PayPal balance. This e-wallet solution is beyond exceptional in terms of speedy transactions and the protections it offers its users.
PayPal Pros and Cons
The advantages of using an e-wallet system like PayPal are myriad. For one thing, you do not reveal your account numbers or credit card numbers when using PayPal; This level of protection is important to anyone worried about identity theft. Second, your payment is made available to you immediately so there’s no waiting around for money to appear in your player’s account; when gambling online, it means you can get down to business quickly. Cashouts are equally expeditious so you don’t have to wait for access to your winnings.
The only main disadvantages are that not every online casino offers access to PayPal as a payment solution. The good news is that more and more venues are catching on to the ease of use associated with PayPal, so the number of casinos offering the transaction solution are growing in number and will most likely continue to do so.
Find an online casino allowing you to deposit via PayPal by using our excellent filtering and sorting system here at HitCasinoBonus.
Read our guides on all other most commonly used casino payment methods. We’ve gone through their requirements on deposits and withdraws, how to best make use of them, and their pros and cons; choose your guide below and become a better player, today!