Making deposits and withdrawals with PayPal in the online casino is no longer as easy as it was a few years ago. But despite the large-scale withdrawal of the online payment service from the gambling market, there are still plenty of online casinos that accept payments via PayPal. This article is about PayPal as a payment service in online casinos, what it is important to consider and what alternatives are available to choose from.
PayPal is not only the number 1 online payment method among visitors to online casinos. Around 20 million or a quarter of Germans process the payment of their online purchases via the company registered in San José, California, there are around 240 million users worldwide. So it is not surprising that PayPal was also very popular in online casinos and was by far the most used payment method. However, the number of houses that can still offer PayPal as a payment method is declining.
One reason for this could be fears about the company's image. PayPal has been trying for some time to position itself as an online financial company in the United States in order to be able to offer its customers various services that are exclusively reserved for banks. Participation in the gambling market could deter potential customers, especially since online gambling is prohibited in the US and PayPal is not allowed to make payments for online casinos on the domestic market.
Another reason for PayPal's withdrawal is likely to be the increasingly strict regulations outside the US regarding money laundering, gambling addiction and liability issues. For years, the company has no longer offered buyer protection to players in the online casino. In addition, the means of payment is now only approved in certain countries. In Canada, it is probably above all the lack of uniform regulation in matters of gambling that has led the company to gradually withdraw.
However, there are still enough online casinos where you can deposit real money via PayPal and withdraw it again. To do this, just go to the cashier area of the virtual gambling temple and select PayPal as the payment method. All further steps are then explained in pop-up windows in an easy-to-understand manner.
Choosing PayPal as a payment method comes with various advantages:
Payments with PayPal are convenient and fast
With just a few clicks, you can transfer the desired amount from your PayPal account to the recipient's account, which will be credited in real time at the same moment. This eliminates annoying waiting times as with a traditional bank transfer, where it can take up to three working days before the receipt of the payment is finally visible on the recipient's screen. In the online casino, you can therefore play immediately after making a deposit via PayPal and immediately dispose of your money after a withdrawal via the payment service.
Deposits with PayPal are free of charge and secure
Anyone who pays with PayPal always does so free of charge. It is the sellers from whom the financial service provider can be paid – and not bad. If you have a private customer account and make your purchases via it, you will not be asked to pay for the payment process itself in any way. The same applies to account management, for which PayPal does not charge any fees from private customers.
PayPal is proud of its buyer protection. If there are problems with a purchase, payments can be reversed relatively easily, with PayPal acting as something like an arbitration board between buyer and seller. In addition, the company is subject to Luxembourg banking supervision and must therefore strictly adhere to European security guidelines, regardless of the headquarters of the parent company in the USA. With the PayPal app, payments can also be made quickly and conveniently on the go.
Although PayPal is by far the largest online payment service in the world, there are of course several alternatives, many of which are also accepted in most online casinos.
Credit cards
Credit and debit cards such as Mastercard or Visa are probably the classics when it comes to deposits and withdrawals in the online casino. Some of the biggest advantages are the lightning-fast transaction of the credits and the high acceptance all over the world. However, Canadian banks have recently been increasingly charging special fees for deposits at online casinos.
E-Wallets
PayPal is not the only e-wallet provider on the market. With services such as Neteller or Skrill, there are equal competitors to choose from, even if they cannot yet compete with PayPal in terms of size. These payment services are also likely to face the same legal difficulties as PayPal, which makes the future of such e-wallets in online casinos uncertain.
Bitcoin & Co
Although people have been predicting the very big future of cryptocurrencies for years, only a few online casinos have decided to accept payments in Bitcoins & Co. Although an anonymous, fast and inexpensive processing of payments is available with this type of currency, the process is currently more than complicated. Strong fluctuations in value and unresolved legal issues make cryptocurrencies seem rather unattractive for traders.
Bank transfer
It's hard to believe, but they still exist, the classic bank transfer. Anyone who decides on this way of depositing or withdrawing money at an online casino needs one thing above all: time. Although transfers within Canada may not take more than one working day, this only applies to business between banks. In practice, this means that I can make my transfer to deposit at the online casino on Monday morning at 9 o'clock and this transfer will appear on the bank account of the online casino the next morning. However, this does not mean that it will already be credited to my customer account. This still depends on the employee, who must visually confirm each receipt of payment and provide the computer with the appropriate information before crediting the payment to the respective player account.
There are many good reasons to choose PayPal as a payment method in the online casino. Unfortunately, however, the days of the American online financial service provider in the gambling industry seem to be numbered and fewer and fewer online casinos offer the possibility to make deposits and withdrawals via PayPal. If you still do not want to do without the convenience of an e-wallet, you should look for accepted alternatives such as Neteller or Skrill.
