Advantages and disadvantages of using PayPal sportsbooks
Pro and Con
- Very fast withdrawals and deposits
- Convenient way to pay
- Requires less banking information
- Not always available
- Some deposits won't qualify for welcome offers
Making a payment at PayPal betting sites
Getting started with PayPal is quite simple, even if you don’t have an account. Like other online gambling payment methods, PayPal acts as an intermediary between your bank account and the other PayPal sports betting sites. So, where do you start?
Step 1: Creating an account at PayPal sportsbooks
This part is relatively straightforward. All you need is your personal information, including name, email address, phone number, and then agree to the terms and conditions.
You can create an account right on their website. You’ll then need to verify your account by following the PayPal verification link sent to your email. Next, continue to the funding section of your PayPal account.
Step 2: Funding Your PayPal Account
To fund your PayPal account, you’ll need to link a bank or credit account to your account by using the “Link a bank or card” option in your PayPal account profile. While bank transfers are free, it’ll take you three to four days to process the transaction.
A credit transaction will cost you about 2.9% of the total deposit amount. The transfer will happen instantly. Once you have funds in your PayPal account, log in to your sports betting site and select PayPal from your sportsbook's deposit options.
Step 3: Cashing out from PayPal sportsbooks
Cashing out money from the PayPal betting sites is the reverse of depositing. First, you’ll need to withdraw the money to your PayPal account through the PayPal sportsbook's’ cashiers.
After the money is in a PayPal account, use any of the following four methods to get it in your pocket:
- Bank transfer
– This is the best withdrawal method since it’s free. It’d be easier if you used this method to fund your PayPal account when depositing funds. You only need to give it a few days to be processed.
- Visa or Mastercard Debit and Prepaid Cards:
This is a good option since its procession fee costs less ($0.25 fee). Withdrawals also take less than an hour.
- Check
– While it’s free, it’ll take two weeks for your paper check to be mailed to you.
- PayPal Mastercard Debit
– If you’re a regular PayPal user, this is an excellent option for you. PayPal issues its own Mastercard debit cards that you can use just like a regular debit card. You can spend your money directly at retailers or withdraw up to $400 per day from ATMs.
Average times for payments at PayPal betting sites
PayPal betting sites are popular in the USA due to their processing speed of deposits and withdrawals. While it can differ from site to site, some general rules of the time it should take you to deposit and get your payouts.
Almost all PayPal sportsbooks in the USA have instant deposits. Usually, this means that you’ll see your funds instantly after completing the transactions. However, it can take up to minutes, making it the reason while PayPal sportsbooks are highly preferred.
PayPal is an excellent option if you’re also looking for betting sites with a fast withdrawal option. Through PayPal, you can process your withdrawal within 24 to 48 hours. However, it may take three to four days to process, especially where there is additional verification from your PayPal betting sites. It mostly happens if it’s the first time you’re withdrawing from the PayPal sportsbooks. Compare our review of the best
sportsbooks deposit options
for a comparison of processing times to PayPal.
| PayPal |
Deposits |
Withdrawals |
| Limits |
$10 upwards |
$10 upwards |
| Timescales |
Instant |
Usually within 48 hours |
| Fees |
None |
None |
PayPal betting sites verification requirements
If you’ve already found PayPal betting sites in the USA that meet all your criteria, the next step is to make sure the payment method is set up. Then, you’ll need to provide your details to sign up for a PayPal account. You'll typically do the same for every one of the best
online gambling payment methods
as well.
You will use the details to confirm your national database to verify your holder’s identity. The information that you’ll provide includes your name, physical address, and date of birth. Sometimes, you may be asked to provide your tax ID or your Social Security Number.
If there’s an insufficiency with your electronic check, you’ll be asked to upload documentation through your PayPal account. The only documents acceptable include passport, Government Issue ID, or Driver’s License. Here is the step-by-step guide of verifying your PayPal account for safe transactions:
Steps of Verifying Your PayPal Account
In a browser of your choice, go to https://www.paypal.com/. If you’re not automatically logged in, you can log in by clicking on the login option in the upper-right corner of the window by entering your credentials.
Click on the summary or menu tab depending on the device you’re using. It’s in the upper-left corner of the window
Scroll down and click on the see how much you can send with PayPal. You’ll see a “More about your account” section.
Click on get verified almost at the top of the window.
Follow the onscreen steps to get verified. You’ll be asked to provide and link a bank account and routing number. If the instant linking is unavailable, you’ll be asked to verify the small amounts of deposits that PayPal may make in two to three business days.
The history of PayPal betting sites
While sports betting using PayPal in the USA may seem like an all smooth ride, it has its ups and downs. PayPal was established in 1988, and at the time, you’d find sportsbooks operating using MasterCard or Visa. But as more and more people got online, and it only made sense to establish a company that would solve the puzzle through effortless digital payments.
That’s when PayPal, or Confinity as it was called then, was established and snowballed. It gained over 2.6 million customers within its first three years of operation. As other online platforms grew in popularity, there was a growing need for faster online payments. eBay later bought PayPal, and within a few years had over 100 million users.
Since then, PayPal has expanded to working on mobile payments and peer-to-peer transactions. In 2014, PayPal parted ways with eBay focusing its growth on international markets. It became a popular payment method for offshore gambling in the 2000s. The US government went after gambling transactions, and PayPal was fined and ceased to operate. Since then, gambling laws have changed in most states, but you can find legal US PayPal betting sites. Check out our review of the history of a
paysafecard sportsbooks.
PayPal sportsbooks compared to other providers
One of the main advantages of choosing PayPal is that most people have PayPal accounts. So while it’s not only used by PayPal betting sites, it’s also used by most eCommerce sites. That means you’re not only limited to using it only when using you are transacting on your PayPal sportsbooks but also when buying at your favorite online stores.
PayPal sports betting in the USA is also popular because it’s a fast, simple, and trusted mode of payment. As discussed earlier in this article, deposits and withdrawals take between 24 to 48 hours. In addition, you don’t have to enter your bank details directly on the PayPal sportsbooks’ sites.
To transfer money to sportsbooks that accept PayPal, you only need to have funds in your PayPal account. However, if you opt to fund your PayPal sportsbooks using a credit card, you’ll be charged a processing fee of about 2.5% of the amount you deposit.
If you have a prepaid card that you’d wish to use instead of a bank account, PayPal has a way of settling your betting transactions. For Instance, if you’re into esports and love using a Paysafecard sportsbooks, you can send money from Paysafecard to PayPal. Check out our reviews for the best
Apple Pay betting sites
for a thorough comparison between these payment methods.
More popular payment methods
While PayPal remains the most popular payment method, you can’t deny that there are other popular payment methods, including credit and debit cards. It’s important to note that each e-wallet option has its pros and cons. However, you’ll likely find an e-wallet option that best suits you.
If you’re concerned about how secure making a payment to a particular site is, it would be best if you confirm with our operator tests. It’ll give you all the information necessary for depositing and withdrawing.
Payment methods earn their scores through reliability and security. By choosing any of the PayPal sportsbooks, you’ll have found a safe and secure betting site since PayPal only works with licensed betting sites.
Conclusion - Keep it here for more PayPal sportsbooks
While there has been a surge of punters now placing bets through their mobile phones, PayPal sports betting sites remain the best among others, especially as Apple Pay betting sites still aren't available in the US.
The ease of use, efficiency, and convenience of PayPal sportsbooks means that you can focus more on which teams and players you are looking to back instead of depositing and withdrawing funds.
With PayPal, you don’t have to disclose your financial details on every betting site you wager daily. This is because PayPal adores a swift payment that’s secured by multiple layers of protection. In this case, you can sleep well, knowing your funds are stored in a safe place at all good PayPal betting sites.
PayPal Betting Sites FAQ
❓ What’s the best PayPal betting site?
Many of the major betting websites out there will offer a multitude of payment methods for customers to deposit and withdraw their funds with. Many major US
betting websites
will therefore offer customers the ability to deposit and withdraw funds via the PayPal payment method. Our review on the best PayPal betting sites takes an in-depth look at who are the best operators that offer PayPal as a payment method. You never know, you might find your new favourite PayPal betting website after you finish reading our review!
💵 Do all betting websites accept PayPal?
Different betting websites accept different payment methods. Some may only accept payments made via Visa or debit cards, whilst others may accept every payment method imaginable. Our review concerning the best PayPal sportsbooks around takes a look at which operator accepts PayPal as a payment method, and which ones don’t. It’s important that you find a betting website that accepts PayPal if you’re looking to use PayPal as your preferred payment method when depositing and withdrawing funds.
⏰ How long does it take to deposit and withdraw funds via PayPal?
Different payment methods take varying times to process. Some payment methods can be instantaneous, whilst others may take up to a week to be processed. For the most part, however, payment methods take a day or two to process. This means you won’t be waiting around for ages so that you can start betting. Our online betting PayPal review takes a look at how long you can expect your PayPal payment to take to process and reach your accounts. You can then make a decision as to whether or not you want to use PayPal betting sites.
🎁 Will I receive a bonus when I make payments via PayPal?
Bonuses
are offered by gambling operators for two reasons. To encourage new customers to register with them, and to keep their existing customers interested. Some betting operators even offer bonuses to customers depending on which kind of payment method they choose to use when depositing and withdrawing funds to and from their accounts. Our PayPal betting sites review takes a look at which betting operators offer their customers bonuses and rewards for using PayPal as a payment method, and which ones don’t.
🔒 Is it safe to use PayPal as a payment method on betting sites?
It’s always vitally important that you choose to use a payment method that you know is safe and secure. If you don’t, you run the risk of your funds being compromised, and no-one wants that to happen. Our review of the best PayPal betting sites takes an in-depth look as to how safe PayPal actually is, and whether or not it can be trusted with your fund, as well as what security measures the payment method currently has in place so as to deter any security breaches or issues. Reading our review here at
CaptainGambling.com
might lead you to finding your new favourite, secure payment method!
