PayPal for Betting and Casino Sites
In 2014, eBay decided to make PayPal a company of its own. Ever since, the decision has continued to pay off as a good one. The company has gone ahead to become a leading giant in the payment industry. It has proven itself a worthy competitor, capable of taking significant competitors in the field—that includes banks and other heavyweights in the industry.
At the moment, PayPal boasts of more than 200 million users from all over the world. A true internet giant, and it is not difficult to see why the company is so popular amongst online casinos and bookmarkers. As of now, most credible casinos have PayPal amongst their methods of payment. If you doubt these facts, you can check the list of the PayPal casinos, and you will see for yourself.
What is PayPal?
PayPal is a massive payments company based in the United States. In 2002, eBay acquired the company. However, in 2015, the company became a separately traded company.
The company has since 2015 managed to create a substantial global presence. This vast global presence has given them a significant reputation in the online space. And so today, the brand is easily recognized for its services. As a result, every year, the transaction volume processed by PayPal amounts to Billions of dollars.
Now that you know about the brand, why should you use it to fund your casino account?
Why you should use PayPal to fund your bet account
Of a fact, there are several reasons why you should use PayPal to fund your bet account. Some of those reasons are as follows.
- In this digital world, you need digital solutions for almost all problems. PayPal offers you a unique digital wallet that stays on your phone with which you can coordinate your finances and make payments on the go.
- Making payments can be very difficult and frustrating, especially when you think about long card numbers. All that is history with PayPal. With this e-wallet, all you need is your email address to have access to make payments at any time of the day.
- You don’t have to wait for so long to have your transactions confirmed as with other methods of payment. With PayPal, you can enjoy instant deposits to your bet account. So, you can start playing instantly.
All you need is to create an online account and link your bank card with the account. When you are ready, send your funds to the PayPal account. From your PayPal balance, you can send it to betting websites.
Funding your Gambling account with PayPal
Asides from the e-wallet system, PayPal offers a range of other services that might interest you. These include PayPal Access Card, PayPal App, and PayPal.Me. The following is a brief description of all of them and what they do.
With the PayPal e-wallet, you can do the following:
- Bring together all of your credit cards, debit cards, and your bank accounts. That way, Everything is in one place, and you can make transactions with ease.
- With just your username and password, you can make payments into your bet accounts anywhere and anytime.
- You can also receive payments from individuals and businesses, which includes betting sites and online casinos. You can make withdrawals directly to your PayPal account, where you can use it for making purchases. Alternatively, you can have your funds transferred to your cards or bank account for later use.
The PayPal app is what you use in managing your account. With the app, you can do any of the following from the convenience of your phone:
- Check your PayPal balance.
- Make payments, fund your bet account.
- Make payments in-store at any of PayPal’s selected outlets.
PayPal Access Card
This is a physical debit card that is linked to your PayPal account. MasterCard usually issues the card. Like every regular debit card, the card can:
- Make payments online and offline;
- Make withdrawals from your PayPal account via ATMs;
- Make touch payments with PayPass.
This is a personalized service that allows you to do more with your account conveniently. With this service, you are issued a personal link that you can share with anyone via text or as you wish. With the link, you can receive payments from any part of the world without sending your email or phone number. The process is easy; all the sender has to do is click the link and select how much to send it to you.
What are the costs of Using PayPal?
While your account is usually created for free, you would have to pay some charges for some of their services. The following are some of the services that attract charges.
- Conversion of Currency: When you pay into your PayPal account with a currency that is different from that of the account, you will incur conversion charges. Depending on how much and the currency involved, the costs could be between 0.4% and 7.4%.
- Transferring money to an Account Abroad: When you make transfers across the borders of your country, you will attract a fee between 0.3% and 7.4%. The cost varies depending on the source of the funds, whether it’s a bank account, a credit card or whatever means.
- Receiving Payments: When you transfer money using your PayPal account to another one, it is usually free. However, when you move money to a credit card or a debit card, you will pay a fee of 3.4% plus some other fees. The exciting part is, the sender decides who pays the pays these fees.
- Selling Fees: If you are a salesperson whether, on eBay, Amazon or other virtual shops or you have a real store, you pay a fee between 1.4% and 5% for all of your transactions.