Here is all the information you need to know about unlicensed casinos with PayPal as a payment option. We checked out the best operators that offer deposits with the payment method, what the advantages and disadvantages are and why it is not as common today as it was before. Read on.
PayPal at Online Casinos without a License
Although it is not common in the iGaming world, Paypal casinos exist and are preferred by punters worldwide. Because the payment processor is extremely careful about its partnerships, a Paypal online casino is almost always reliable. As we already discussed, finding a gambling site that supports Paypal is not easy, especially in the Nordics.
What is PayPal?
PayPal is one of the largest and first eWallets. It offers secure, seamless payments that take place very quickly. With this payment method, you do not have to give out your bank or card details to the places you shop at. It is a prime reason for the popularity of PayPal.
This eWallet was founded in 1998 in Palo Alto, California, and soon jumped from online stores to online casinos as a payment method of choice. Today, there are almost 300 million active PayPal accounts. Compared to other popular eWallets such as Neteller and Skrill, this figure is over 10 times greater. A fun fact about Paypal is that Elon Musk, founder of Tesla Motors and SpaceX, also founded PayPal.
How to Create a PayPal Account
One of the biggest advantages of PayPal is it is to create an account for free without breaking a sweat. You can create an account as an individual and even as a company. If you want to use PayPal to play at an online casino, it is an account for private individuals that applies.
Follow these simple steps:
- Visit the official website of PayPal.
- Click the “Create Account” button.
- Choose “Private Account.”
- Enter your personal information and email address.
- Pick a strong password.
- On the next page, enter your home address and date of birth.
- Register your account /credit card or save it for later.
- Verify your account by submitting proof of identity.
How to Use PayPal at an Online Casino
There are two different ways to make payments with PayPal. You can link your card to your account and get payments debited directly. Alternatively, you can connect your bank account to your PayPal account and deposit money via a bank transfer. Please note that deposits to your account might be delayed by a few days. However, if you link your card, payments are instantaneous.
To deposit via PayPal at an online casino, follow these steps:
- Find a PayPal casino of your choice.
- Create an account or log in.
- Go to the cashier page.
- Enter the amount you want to deposit.
- Select PayPal as your payment method.
- Get redirected to the PayPal website and log in.
- Confirm payment.
Your money will then be immediately transferred to your casino account so you can start playing real money games. As you can see, it is simple to make deposits with PayPal. You do not have to divulge your card details, which makes it all the more secure.
Making a withdrawal to PayPal is as easy as depositing from it. To withdraw your money, you just need to follow these steps:
- Visit the cashier page on the online casino.
- Request a withdrawal by selecting PayPal.
- Enter the amount you want to withdraw.
- Confirm your withdrawal.
If it’s your first time, PayPal might ask you to verify your identity by submitting certain KYC documents. Please remember that withdrawals are not instantaneous. You have to wait a few days before your money appears in your account. However, this is not just a problem with PayPal. The entire casino industry is struggling to find a solution for faster withdrawals.
Pros and Cons of Using PayPal for Online Gambling
Here is the list of pros and cons of using PayPal:
- Quick deposits
- SSL encrypted transactions
- Protected card details
- PayPal casinos are scarce
- Withdrawals are not instant
There are undoubtedly more advantages than disadvantages of using PayPal as a casino payment method. It is quick, secure, and easy to use. You can deposit money in less than a minute without needing to give out your card details to the operator.
Another advantage is that your card details are always kept secure with PayPal. Instead of having the details at a dozen different online casinos, you can have them in one place, which is PayPal. All your data is protected with state-of-the-art SSL encryption. If you are wondering if it is safe to pay with Paypal, we’d say “absolutely”! It is one of the safest payment methods available.
A third advantage is, as we already mentioned, that PayPal works as proof that the casino you are playing at is reliable and secure. If you play at a PayPal Casino, you can be convinced that they meet strict requirements and focus on customer satisfaction.
As with most things in the world, PayPal still has disadvantages. One of the cons is that withdrawals are not instant. The casino you play might need 0 – 24 hours to confirm your withdrawal. Furthermore, it takes a few more days before your money enters your account. However, it is still a common problem at online casinos which makes it a trivial issue in our honest opinion.
The biggest disadvantage of depending on PayPal as a casino banking method is the fact that it is less common in the iGaming world. But at the same time, the lack of PayPal casinos makes them even cooler and much sought-after.
Players must remember that if the PayPal account and the account at the online casino they play at use different currencies, there will be a currency exchange. It is always good to check the exchange rates carefully so you do not get any unpleasant surprises.
Best PayPal Alternatives
These are the best alternatives to PayPal at online casinos:
Formerly known as Moneybookers, it is one of the most common and secure eWallets you can find in a casino. Skrill is a British company, which, in many ways, works like PayPal.
Almost as popular as Skrill, Neteller is a very easy-to-use eWallet that enables secure deposits and fast withdrawals at many online casinos. It’s a sister company to Skrill.
Please note that although Skrill and Neteller are good alternatives to PayPal, certain casinos might not allow you to take advantage of their bonuses if you deposit using these methods.
The three strengths of PayPal are security, speed, and simplicity. It is easy (and free) to create an account. Your deposits are processed immediately and all transactions are secure. If you find a casino that accepts PayPal, there is no reason not to use it. Choose one listed on this page and get going.