The following online betting sites all offer PayPal as a payment method for customers from the UK. Most betting sites do not charge a fee for PayPal deposits, which are processed instantly. Withdrawing via PayPal is normally also free of fees, and is rapidly credited to your PayPal account once the transaction has been approved by the betting site.
To use PayPal to make a deposit you will need to either have funds already in your account (from a manual load or withdrawal from another betting site) or you need to link your PayPal account to your bank account. Many skilled punters use PayPal to rapidly move money between their betting accounts which enables them to take advantage of the best odds that are available, regardless of which site they are on.
Deposits made by PayPal are usually credited to your account at the betting site instantly and are available to bet with right away. However you might occasionally experience a delay of up to half an hour. It’s also important to note that whilst you normally can use a different email to register with the betting site that you use for your PayPal account without any problems, using different emails can make it harder to fix errors if they do occur. Just something to bear in mind!
What is PayPal?
PayPal is an e-commerce solution that has been adapted to be used as one of the world’s leading payment methods. The company were originally set up to work alongside the likes of eBay to allow people to pay quickly for goods online. PayPal was then purchased by eBay before expanding into other stores, and now bookmaking.
The process is pretty simple, in that PayPal is easily linked up to your bank account. You can request funds to be sent directly to a bookmaker or merchant even if no funds are loaded into your PayPal account, as it will directly draw them from your bank. You can also load up your PayPal account if you wish to and it will work in the same way.
Why use PayPal?
PayPal offers an added layer of security when banking, as you don’t have to store or even enter any debit or credit card information at your bookmaker. Whilst the majority of bookmakers have very strict security rules which successfully protect their customer’s details 99.9% of time, if something is online then no guarantees can be made.
As your PayPal info won’t be stored on your betting account, even if your account did get hacked there would be no info for the hackers to steal.
Another reason that people use PayPal rather than making direct transactions with their bank, is that it offers another added layer of security. With PayPal, funds are often held for a period of time, meaning that if any untoward transactions were processed, then they would be easily reversible; it’s similar to the way in which your credit card works.
Is PayPal secure?
As well as being easily one of the biggest and most popular banking methods for gamblers at the minute, they are also one of the most secure. They offer high level encryption on all accounts and you’ll often find that they are really hot on tracking fraudulent activity on your account.
From a users’ perspective, you can really ramp up the level of security too if you wish. For example, on the app you can have it request you enter your fingerprint if you have Touch ID, and also enter your password as well. Some people like to set up a pin code for a log in, which is often pretty quick to do.
One thing we will point out though, if you are using PayPal from abroad they do tend to block or suspend accounts until you inform them otherwise. It might be worth planning ahead on this and contacting them before you travel.
Any cool features?
One thing we really liked is the addition of the PayPal prepaid card that is linked to your account. It’s a MasterCard so it allows you to draw funds from an ATM and also pay at point of sale terminals as well. When paying for items you won’t be charged a fee, but there will be a small fee applied to cash withdrawals.
Another great feature is the time it takes for payments to process. Technically, being an e-wallet, most bookies are able to credit your withdrawals back to your account within just an hour or two, which is incredible as most other options take several days.
- Established in 1998 when two companies – Confinity and X.com – merge to become PayPal. First product, released by Confinity, emerges in 1999.
- The PayPal name is adopted in 2000 and immediately sets out to target eBay as their platform for growth. eBay, in need of a payment platform, agree to run PayPal initially for 12 months on the premise it will run alongside Billpoint, eBay’s own electronic payment system.
- In 2002 eBay acquires PayPal and quickly drops Billpoint. Interestingly, the initial growth of PayPal surpassed even that of eBay.
- By 2010 PayPal is starting to move aggressively to expand into other avenues of electronic banking. The growth and popularity of the company has become much more widespread, allowing them to target new territories and new technologies, such as mobile payments, in-store payments and more tools for businesses.
- In 2015 PayPal splits from eBay, making them two separate companies. They would have two separate CEO’s and for the first time would go it alone.
- PayPal enter the Fortune 500 in 2016, with the company valued at just over $10billion.