Why PayPal is Great for Online Casinos & Gamblers

An online gambler’s experience depends a lot on the casino they play at and payment methods they use. There’s a huge variety in the industry today, as dozens of companies compete to provide the best solutions possible.

Despite this ever-increasing competition, one of the oldest payment providers – PayPal – remains at the top. While it’s not the most popular method of funding casino accounts, it retains lots of advantages.

Below, we will talk about the most important of those and compare it to other payment alternatives.

Why PayPal?

In short, there are three reasons that set PayPal casino sites apart from the crowd. Aside from the features present in these betting websites, the financial services provided by PayPal make a gambler’s life much easier.

They are:

1. Unmatched flexibility in depositing and withdrawing money
2. Instant processing of payment requests
3. Secure and trustworthy money transferring service

Let us guide you through each point in order now.

1. Perfect Flexibility

First of all, a great solution to make payments at an online casino must allow both depositing and withdrawing. PayPal does just that.

When cashing the money in and out, most casinos require to use the same source. Say, if you used a debit card to deposit, you need to claim your subsequent winnings using the same card.

This limits the user somewhat. However, unlike other solutions, PayPal allows using different sources in such a situation. Thus, the players stick to the same e-wallet they used before, but can add different bank cards or use the PayPal balance up instead.

So, with this method, punters get more flexibility than most other solutions allow. The only competitors that get close to this are e-wallets like Skrill and Neteller.

2. Instantaneous Service

Players who bet often end up making lots of transactions per week. If you’re in the same predicament, you know how tedious it can be. It may take days to receive your winnings after you requested a withdrawal.

PayPal minimises this obstacle by providing instant payments. This applies both to depositing and withdrawing. Of course, casinos may still apply a ‘pending period’ to your withdrawal request. Yet, as soon as that’s done, PayPal will only take seconds to send the funds.

3. Trusted by 250 Million

PayPal’s security is tested thousands of times every single day. Loads of casinos allow their players to pay with this e-wallet. Plus, there are 250 million PayPal users worldwide.

Thus, it’s a trustworthy way to send funds to and from your casino. And since security is such a big matter for gamblers online, this comes as a huge advantage.

In this respect, PayPal is incomparable to any other service. It’s way too popular for that. As for security, many other methods are safe too, but neither surpasses this kind of encryption.

PayPal Isn’t Perfect

Despite all these benefits, PayPal isn’t perfect. No solution is. Some of its disadvantages include fees which apply when transferring funds to the e-wallet or paying to peers.

Plus, there’s the fact that you need to top-up your PayPal account. Or, you can add a bank card to it and draw from it directly. In either case, there are some extra steps required before you start using the service.

Either way, other solutions have their own drawbacks as well. As a result, PayPal remains the best choice for gamblers who want an easy and safe way to gamble online.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.