Paypal is increasingly becoming the method of executing money matters in today’s digital world. Virtually, you can store your cash on PayPal and deposit it whenever you want to make a purchase online. It’s really a digital version of your real world shopping, if you like.
Bookmakers who Accept Paypal
There have been increasingly more sports betting websites accepting PayPal payments as funds for betting. The current main websites are listed below:
What Fees are Involved in Using Paypal for Betting?
All of the bookies listed above have minimum deposits of either 5 or 10 pounds. What’s more, of these, only Betfair charges 1.5% – 2% as fees! PayPal, on the other hand, charges 0% fees when you are opening a PayPal account.
However, PayPal, in certain situations do have a range of fees for transferring money; possibly only if the money is being exchanged between countries (i.e. converting between currencies). For instance, you have a Australian bank account and bet in Australian Dollars with an Australian bookmaker, chances are, you will not incur any fees. In addition, PayPal is one of the most secure and trusted payment systems.
In which Countries can you use Paypal for Betting?
Besides being used for routine transactions in almost two hundred countries, PayPal can be used for gambling in many countries across the globe, namely:
Using Paypal for Betting
So how exactly should you go about using PayPal for betting purposes?
It is really a simple 4 step process:
- Log onto your gambling account and go to “Banking” or “Deposit”
- When asked to choose a deposit option, choose PayPal.
- Fill in your details – start with the amount you wish to deposit and in case you have a bonus code, here is where it goes.
- Go to your PayPal account and confirm your transaction for further processing.
The Advantages of Using Paypal
The advantages are tremendous – it is simple, safe, and super fast. There are indeed many other payment options one could opt for, but all have their pros and cons. Needless to say, this convenient method wins when it comes to comparing the benefits:
- It’s free – Well, for the most part.
- It’s fast – The transactions should take up to a maximum of 5 days.
- It’s safe – Your data is safe with them and will take immediate action on the rare occurrence of any suspicious activity.
One can see that PayPal provides another option for moving funds into and out of betting accounts. However, as of now, this luxury is not available to the citizens of the USA.