With the advent of cryptocurrencies, mobile wallets and contactless payments, Fintech came into its own in the 2010s. So what will the 2020s bring? Read on for our predictions.
Wednesday, February 19th, 2020, 12:41:48 PM
In case you like and want to stick around with the best, you are in the right place. There’s no need for more searching on the web: PayPal is the largest and most popular ewallet out there, there’s no doubt about it. That is why we won’t bug you with details you most likely have heard or read countless times. We’ll only show you the cold hard facts that place Paypal on top of the ewallet mountain. The same cold hard facts that will confirm you made the right choice to research out the grandfather of epayments and try it out for your online casino deposits & withdrawals.
Why the actual grandfather? Because PayPal was established in December 1998, during the famous dot.com bubble. Actually, it was one of the few that survived the dot.com bubble burst, in the early 2000s.
Interestingly enough, the initial name of the service was Confinity and only after a merger with Elon Musk’s company X.com, it was renamed to PayPal, in 2001.
18 years later, the payment service is ranked 222nd by revenue in the top US corporations published by Fortune 500 ($15.45 billion in 2018 alone). Currently, it has close to 280 million active accounts across more than 200 markets, and almost 22,000 employees worldwide.
But enough about numbers! You accessed this page to actually learn some practical things about PayPal, for example, how to use it.
Using PayPal is easy as pie. Since it has over 20 years of experience, the interface is probably the most user-friendly you will find on the web. The support - in case you don’t get the desired results - is also very professional and helpful.
Most likely, you won’t need the support since the process of creating a PayPal account and managing it is quite simple. All you got to do is hit the Sign Up button and complete the steps on your screen - nothing fancy, like all other ewallets.
Nevertheless, you will find extra steps that are PayPal specific, like choosing the type of account you want to create. Since you’ll likely be using it for buying goods & services and for online casino deposits & withdrawals, you just need to choose the Personal Account option. After that, you’ll have to fill the form with your personal information.
Initially, you’ll have quite limited options, so you’ll need to go through the verification process. You’ll have to verify your e-mail and phone number and link your PayPal with your bank account. Your name and address will have to coincide with your bank details for a smooth experience.
After this whole process, you will have much greater freedom to use the ewallet, but if you reach a certain annual receiving limit - which is not fixed, depends on your region - you’ll have to get verified once more (ID & proof of residence - enforced by the usual Know Your Customer (KYC) and Anti-Money Laundering (AML) financial regulations).
You can top-up your account easily by using options which are region-dependent. Cashing out usually means transferring your PayPal funds directly to your verified bank account.
If you can use PayPal for gambling, consider yourself lucky.
The top ewallet has very specific rules when it comes to online casinos, that is why the players from a very short list of countries can actually use PayPal for online casino deposits & withdrawals.
First and foremost, all the countries in that shortlist have the online gambling niche regulated, thus there’s no more room for ambiguity regarding players’ and the egaming companies’ rights & obligations.
Be sure to check the list in the next section. If your country is on the list, then PayPal is your safest bet out there in terms of transferring your funds in & out of your favorite online casino.
PayPal takes a cautious approach when doing business with the online casinos. They have to operate in regulated markets to allow them to include the PayPal payment method. Since many online casinos operate offshore, in the so-called fiscal paradise countries, there aren’t that many options to choose from, even though you might be a player with residence in an eligible country.
Yes, it is important to check if your country is on the PayPal casino list below, but it’s also important to check your favorite actual gaming operator if it has PayPal listed as a viable payment options.
If you found the online casino that accepts PayPal, then the process of depositing and cashing out is no more than child’s play.
If you made payments with PayPal before, then the process of depositing to your casino account is quite familiar. Type your email and password, choose your way to deposit - either through the PayPal account or via your credit/debit card - and after a few seconds, you will be able to play your favorite casino games & slots with real money.
In case you scored big, you can withdraw your winnings by just clicking the PayPal option, without the need to type your login credentials. Since you made a deposit, the online casino just needs your email account associated with the ewallet to receive the funds.
Still confused about PayPal casino? Didn’t our review answer all your questions? Are you more of a TL;DR type of person? It’s OK then, that is why this section is here for. To answer all questions you may have.
The short answer is quite a few of them. Since PayPal is very strict with the online gambling industry, few online casinos are actually eligible for a partnership with the world’s top ewallet. Even fewer countries have the online gaming niche regulated, that is why the list is short. Be sure to check our PayPal casino list first, before searching for a PayPal casino.
Most of the times, no. However, you may find some online casinos operating in the US regulated markets (Nevada & New Jersey) actually accepting PayPal as a standard payment method for both deposits and cash outs. You still have to be resident of that particular market though, to be able to use PayPal for gambling.
Australia used to be PayPal friendly back in the days, but not anymore though. The legislation is quite strict now, so you won’t find online casinos accepting PayPal, especially for the Australian players.
Not officially, but you can try out the emoney exchangers which have gained traction for the last few years. However, be sure to double- and triple-check the reputation of the exchanger before you try it out. Furthermore, be ready to be on the short end of the stick when you make such transfers.
Again, there is no official way to do it, but you can find websites on the web where you can exchange your PayPal funds to Bitcoin or Bitcoin to PayPal money. One of those places is the popular over-the-counter marketplace localbitcoins.com. Check their website for more information.
Transferring your PayPal funds to an online casino and vice versa may not be for everybody given the current state of the online gambling niche. Yet, if you manage to use PayPal for playing casino games & slots, do it with reckless abandon. It may be the safest, the most reliable & the most affordable ewallet out there, without a doubt.