PayPal serves as one of the best techniques for depositing and withdrawing funds from online betting sites. PayPal’s existing balance is the easiest method to deposit to a betting site, casino, or poker room. It can be obtained through a transfer from a friend or through an internet auction website such as eBay.
There are numerous other methods for funding a PayPal account. For example, a bank account can generate an instant electronic check. Bank wires are used for large transfers. Europeans may additionally utilize a credit or debit card, such as the PayPal Extras Mastercard. However, credit or debit cards cannot be used to fund a profile at a governed poker or gambling site in the United States.
Suppose you live in one of the states where sports betting is legal. In that case, you have a wide variety of regulated sportsbooks to choose from that accept PayPal as a banking method. PayPal is an excellent banking option for those who want to gamble on regular or daily fantasy sports.
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PayPal Accepted Sports Betting Sites
The table below displays which legal sportsbooks currently accept PayPal as a form of payment. The following list includes New Jersey, Illinois, Colorado, Pennsylvania, Indiana, West Virginia, and other states. Check back frequently because more PayPal sportsbooks are included in the compilation.
In addition to the sites listed below, PayPal is accepted for deposits and withdrawals at daily fantasy sports sites.
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History of PayPal in Online Betting
PayPal became the first significant Internet E-wallet. It enabled individuals to send funds to a business or some other individual. It quickly developed into the most popular method of purchasing an item on eBay. PayPal was additionally the top recommendation for casinos on the internet that accepted Americans, despite making up a trivial amount of PayPal’s overall business.
In 2002, online casino transactions accounted for approximately 8% of PayPal’s total processing business. At the time, PayPal had almost no business outside of North America. That has all changed, and PayPal is now a global company that practices payments from over 100 countries.
Ebay purchased PayPal in 2002. In 2015, the company split and became two separate entities.
Paypal Entering the Daily Fantasy Online Payment Market
Daily fantasy sports were PayPal’s succeeding big move in the United States. The contests fall under skill game laws across as many as 45 states, though the actual figure where it is legal is debatable. Nonetheless, PayPal accepts deposits and withdrawals from all sites in all states in which daily fantasy businesses are permitted.
What Are the Fees for Using PayPal at Sportsbook Sites?
Once you deposit using PayPal at a sports betting site, you will not be charged any processing fees, and the provider itself is free.
You must pay PayPal fees when depositing with a debit or credit card. This fee is, as of now, 2.9% of the total deposit amount. However, there will be no processing fees if you only make use of an existing PayPal balance to deposit or finance your PayPal account through the use of a bank transfer.
Can I Use PayPal to Cash Out My Gambling Winnings?
Yes. You can withdraw using PayPal if you have previously succeeded in making a deposit using the same PayPal account.
In general, online sportsbooks prefer that you withdraw money via the same method you deposited with. However, you may need to withdraw using a different approach. In that case, you must usually contact the site’s security department to make special arrangements for a distinct withdrawal method.
Go to your online sportsbook’s cashier and ensure that you can cash out using PayPal.
How Long is the Process Time for PayPal Deposits?
PayPal deposits at sports gambling apps are immediate. It is one of the most significant benefits of using PayPal as your financial services option. In addition, it is one of the reasons the provider is so famous for sports betting in the United States.
Most people do not want to have to wait for days before they can place their first bet. When you use PayPal, you can begin wagering right away following your deposit.
How Long Does It Take for PayPal Withdrawals to Be Processed?
Like all other payment methods, PayPal withdrawals typically take a few days to be processed, primarily by sportsbooks.
It is because of all the extra checks and confirmations that must be conducted on the transactions. PayPay withdrawal processing times vary slightly between sites. If quick cashouts are essential to you, start making sure to read the fine print before signing up with a sportsbook.
For more information, see which online sportsbooks offer the best payouts and withdrawals.
Are There Any PayPal Bonus Codes Available?
Currently, no sportsbooks offer PayPal-specific rewards that require a unique bonus code. However, suppose any of the PayPal-accepting betting sites begin to provide this option. In that case, we will ensure that we update this part with all currently offered bonus codes.
Meanwhile, visit our sports betting bonus guide for the most recent sportsbook promo codes and offers.
Using PayPal for Legal Online Sports Betting in the United States
Starting with PayPal is extremely simple, so even if you do not have a gambling account, you will have no trouble using this banking option for betting on sports online.
PayPal, like most e-wallets, acts as a middleman between your bank account or credit card and the online bookie, enabling you to deposit or withdraw funds without trying to enter your banking information.
In this section, we’ll show you how to use PayPal to deposit and withdraw your funds from your sports gambling account.
Can I Use PayPal at Offshore Casinos?
No. PayPal can generally only be used in states where gambling is legal. Furthermore, PayPal can only be used to deposit and withdraw funds from licensed sports betting and online casino sites, along with daily fantasy sports and horse racing sites.
One of the reasons to avoid ungoverned offshore betting sites is the inability to use credible payment processors such as PayPal. In addition, because these sportsbooks still need to be licensed in the United States, they are not bound by identical rules and regulations.
That means you may not receive your money back if something wrong happens with a transaction or the company runs into financial difficulties.
Sports Betting with Paypal Ensures Quick and Secure Transactions
There are numerous reasons why PayPal is an excellent choice for depositing funds into your sports betting account.
The main reason is that, although sports betting is legal in New Jersey and many other US states, numerous banks and credit cards still refuse to conduct transactions with betting sites.
Third-party payment processors such as PayPal will continue to serve as the best option for secure and straightforward sports gambling deposits and cashouts until this changes.
Check out the list above for the best PayPal sportsbooks, and take advantage of the links in our reviews to receive a great sign-up bonus.
Paypal Betting Sites FAQs
Can you use PayPal to make a deposit if you don’t have a PayPal account?
Players must first establish an account with the company to use PayPal as a deposit method. It is a simple and fast procedure that takes only a few minutes.
Is it possible to utilize a family member’s or friend’s PayPal account to make a deposit?
No. A PayPal account used to make a deposit at a gambling site must be the account holder.
Is PayPal a secure way to deposit at a betting site?
Yes. PayPal is as secure as any other e-wallet. Moreover, it is safer than directly using a bank account because it adds a safety level between the gambling website and the player’s financial information.