Using Paypal at online casinos

Started in 1998 in California, United States, Paypal is one of the pioneers of online money transfer platform, delivering a highly convenient alternative to complicated bank cheques and expensive international wire transfers. Today, there are more than a whopping 200 million Paypal users in the world, making it one of, if not the largest e-wallet service provider out there.

However, the company employs a strict selection process and there aren’t that many online casinos that accept Paypal compared to other payment systems. However, this is slowly but surely changing and the company is steadily gaining traction within the online betting world.

Our team of experts at WhichBingo puts this American e-wallet giant under the microscope and evaluates how good are their services at online casino sites. Should you be playing Paypal slots and other casino games? Read on and you’ll find the answer to this question. Let us begin by taking a look at Paypal casinos in the UK that can be trusted:

Featured bingo sites that accept PayPal

The advantages and disadvantages of using Paypal

Pros:

• Stamp of approval – Because Paypal requires their merchants to go through a strict verification process, only authorised and legitimate sites can become a Paypal casino, offering it as a viable payment option for players. Therefore, when you use Paypal betting sites, you know you’re playing at an honest and secure place.
• High security – This payment system provider uses a cutting-edge encryption technology on their site to keep your information secure. Not only that, but the provider also offers buyer protection which means that if you’re ever a victim of a rogue casino and deposited using Paypal, you could get your money back with sufficient proof.
• Swift Transactions – Making payments at an online casino with Paypal is usually instant. Withdrawals via Paypal is also generally faster than cards or bank transfer and the funds usually reach your Paypal account within 24 hours after the casino has processed the transaction.

Cons:

• Not as widely available as other payment systems – Because of its strict verification process for merchants, there are not as many Paypal casinos in the UK as other providers like Neteller or Skrill.
• Might not be able to claim bonuses – Some casinos don’t allow you to claim their welcome bonus if you deposit using Paypal.

Banking with Paypal

There’s no doubt that using Paypal is one of the most secure ways to make financial transactions at your favourite online betting sites. However, there are certainly other factors that you should consider as well to decide if this is the right payment system for you.

Deposit and withdrawal times

One of the best things about Paypal is that you don’t need to have a balance in your account to make payments because the provider could take money directly from your linked bank account or credit card, acting as an additional layer of protection on your financial details. However, you can credit your account with Paypal balance using your linked bank account if you wish, which usually takes only a few minutes. For withdrawals, you can cash out to your bank account and the funds will reach you within three to five business days.

Ease of opening an account

Registering for a Paypal account is free and fast but the account remains restricted until it’s been verified. The verification process is different for accounts in different countries. If you’re opening one in the UK, you’ll have to first confirm your credit card or bank account to get verified.

Fees structure

It’s basically free to use Paypal if there are no currency conversions involved. Therefore, you don’t have to pay anything to make deposits at a Paypal casino since almost all authorised UK casinos let you maintain your casino account in Pound Sterling. Withdrawing from your Paypal account to your bank account is also free and it’s currently not possible to cash out to your credit card.

Our final thoughts

Paypal is an extremely secure and virtually free payment system to use at online betting sites in the UK. However, there aren’t that many operators who offer banking options using this particular service provider due to their strict verification process. While it doesn’t mean that casinos who don’t offer Paypal as a payment method are unsafe, but when you see one who does offer this service, you can be confident that it’s a safe and legitimate site. Although they are far and few in between, our experts at WhichBingo has scoured the internet and put together a list of recommended casinos that accept Paypal so you don’t have to look for one yourself. So, take a look at any of our trusted Paypal casino and game with peace of mind today!