Faced with a very strong demand from players who want to optimize the time it takes to withdraw and deposit money on their favorite gaming platforms, online casinos have had to opt for so-called alternative payment methods. Thus, after the famous Mastercard and Visa credit/debit cards and bank transfers, virtual gaming rooms have adopted electronic wallets, with Paypal being the most popular of them. What are the advantages of this popular payment method and how to use it? Read our full review to find out more.
Have you ever used American Express, Visa or Mastercard? You have probably found them to be efficient for your various transactions, haven’t you? So imagine that there is now a faster, more secure, easier to use payment method that charges less and does not require you to share your banking information. Well, that’s Paypal! It’s a very simple to use e-wallet that allows you to pay online in a highly secure, confidential and efficient way. Rare are the merchant websites and marketplaces that do not accept Paypal as a payment method. It is a popular and reference payment method.
History of Paypal
When in 1998 a group of engineers, Luke Nosek, Max Levchin, Peter Thiel and Ken Howery launched the firm Confinity in California, later known as Paypal, who could have imagined that this payment platform would be so successful? Initially specialising in software design and information systems security, it was in 1999 that the project dedicated to financial transactions saw the light of day, with external funding. It must be said that all has not always been rosy for this American fintech giant. The company went through a merger with X.com and several CEO changes, before being named Paypal in 2001. In 2002, Paypal is listed on the stock exchange and is bought by Ebay, an American specialist of online auctions. The amount of the transaction was US$1.5 billion. The collaboration with the Ebay board was very often difficult. In order to make the company grow and improve its productivity, Paypal’s managers decided to separate from Ebay in 2015. It will then make several major acquisitions and buyouts of renowned companies such as Xoom, Simility, and recently Honey Science. Today, Paypal is without question the most popular e-wallet and the most used to make online payments.
How do I register?
Creating a Paypal account does not require any specific computer knowledge and the registration process is free of charge from start to finish. Beforehand, you need to have a valid phone number, a functional email address, in addition to an active bank account or credit card.
The first step is to go to Paypal.com. The other steps are then intuitive. All you have to do is fill in all the required personal information on the forms that are displayed to you and associate your Paypal account with a card or an active bank account. Then, you will have to choose a password, which will be associated to your email address. These two elements will always be necessary to authenticate yourself and access your e-wallet. Finally, you will be asked to confirm your identity by loading a valid ID and then entering a secret code that will be sent to you by SMS on your phone number. Registration usually takes no more than 10 minutes, and you can use your Paypal account as soon as it is created.
Paypal has several features that differentiate it from other payment methods. The first element of differentiation is that the validation of a transaction by Paypal does not require the transmission of banking information. Everything is done by a simple identification: e-mail address and password. A non-negligible feature of Paypal is that you do not need to fund your account before making a transaction. This e-wallet can indeed draw directly from the associated bank account or credit card. This greatly simplifies life for Paypal account holders.
Use in an online casino
If a large number of players, who today number in the tens of millions, have chosen Paypal as a payment method, it is because it is very advantageous on the financial side. Indeed, the deposit fees, but also withdrawal fees, applied by casinos when you opt for Paypal, are slightly lower. With Paypal, the transaction fees can go below 1.5%, while those offered by other systems are on average 1.65%. The good news for players is that in some countries and regions, no additional fees are deducted from your wallet when you make a deposit to your casino player account.
By switching to Paypal, you will find that withdrawal fees are generally lower than with competing payment methods. While in some regions live casino players may be exempt from their deposit fees, this will not be the case for withdrawal fees.
Advantages and Disadvantages
User security: a priority for Paypal
Paypal is a “customer centric” company. It puts a particular emphasis on customer satisfaction, with a great focus on user security. Paypal’s reputation around the globe says a lot about its credibility and the reliability of its services. This payment system is highly secure and one of the safest in the world today. As a user, Paypal reassures you through the implementation of several practical measures to definitively secure all your transactions. The major axes of Paypal’s security policy, which offers its users a certain peace of mind are :
- encryption of transaction data. The connection tunnel created for each of your transactions is encrypted. The protocol used is HTTPS, with TLS connections. The system is PCI-DSS certified, one of the best security standards in the banking industry. In addition to being tamper-proof, the communication channel makes the data unintelligible and therefore totally unusable. During, and even after the operation, it is therefore impossible for a hacker to access your details, let alone use them for illegal purposes;
- the purchasing policy that protects the buyer. The payment system gives priority to the customer that you are. If you notice errors or anomalies when making transactions between your Paypal wallet and your player account, you have the right to make a claim. Your funds will be fully refunded if the facts are proven. In the event of a dispute with your game room, Paypal knows how to make available all the information to protect you and accompany you until your money is refunded. To start a litigation process at Paypal, just click on the “Litigation” button, clearly visible on the company’s website;
- dual authentication for each operation. You can never be too careful when it comes to money. Paypal knows how much your money means to you. That’s why, in addition to all the other security lines in place, Paypal has opted for strong authentication for every transaction. In addition to the requested login and password, a confidential code, also called security key, is sent by SMS to the number registered at the creation of the account. This way, we can be sure that even if a scammer has your email address and password, he will not be able to cross this additional security barrier;
- transaction confirmation. For any withdrawal or deposit to your account, you will receive a letter immediately after each transaction informing you of the summary of the transaction. You can therefore be certain in real time that you are the originator of the transaction or be alerted in the event of fraudulent use by a third party.
Bonuses linked to Paypal
Paypal is a very advantageous payment method for virtual casinos. In order to encourage gamers to adopt Paypal, some gaming rooms have decided to offer them bonuses. Thus, as soon as you register at a gaming room and after having selected Paypal as a method of payment, it is very likely that you will receive a welcome bonus. Also during the game, other gifts such as free spins or free spins bonuses may be given to players. The value of the bonuses is set by the casino and is usually determined by the amount deposited by the player. Many paypal casinos offer regular bonuses and promotions reaching the 15% mark!
Choosing Paypal as a payment method does not negatively impact the quality of the experience you can have as a player. It also does not reduce the range of games you can access. Paypal Casinos offer a wide range of entertainment just like other gaming venues. You will have the choice between roulette, poker, blackjack, the famous slot machines, and many other interesting games.
Casinos that accept Paypal
The first thing to know is that Paypal only operates with live casinos that are licensed and approved by their government. The company does indeed have a serious and fairly strict policy regarding its collaboration with online gaming venues. In order for Paypal to do business with an online casino, it is imperative that the casino is located in a country with a government-approved national gaming system. While this policy is commendable and much appreciated by the gaming community, it still has an impact on the number of game libraries that integrate Paypal as a means of payment. We will therefore simply say that this is an evil for a good!
However, this has not prevented an impressive number of Paypal casinos from being created. Famous online casinos such as Jackpot City, Wixstars, Betsafe, Spin Palace, Casino777.be, Mr Green, Poker Stars and Casino Clic, to name but a few, have already integrated Paypal as one of their withdrawal and deposit options. Our experts have compiled a list of the best Paypal casinos of the year for you. You’re sure to find one that will catch your eye.
This review, dedicated to Paypal, will have shown us how practical this payment system is and how much it can do to please online casino players. It is indeed one of the safest, fastest and cheapest in terms of transaction fees on the market. If Paypal is accepted in your area, we strongly advise you to test it if you haven’t already done so. Few players have been disappointed after trying it. But like all other online payment solutions, Paypal is not above reproach. Paypal will have to work to be accepted at the biggest casinos, because there are still dozens of gaming rooms that do not accept this payment method, which is very popular with players.
Other casino payment methods:
Paypal Casino FAQ
✅ Is Paypal available on online casinos?
The majority of casinos accept paypal as a means of payment for both withdrawals and deposits. It is one of the most popular payment methods for players and live casinos themselves. Paypal allows you to manage transactions in real time.
✅ Are there any casino bonuses linked to Paypal?
Many online casinos offer not only welcome bonuses, but also betting bonuses and free spins to players who choose Paypal. The bonus offered varies depending on the casino and the amount deposited into the player’s casino account.
✅ Do I have to check my identity on Paypal?
Yes, of course! It is essential to always check your identity on Paypal to have access to all the advantages of the solution. This is a mandatory step when you create your account. You will be asked for a valid ID in addition to a proof of fixed residence and a validation by SMS or email.
✅ How do I withdraw my winnings with Paypal?
Withdrawing winnings from an online casino via Paypal takes only seconds. After following the instructions to complete your withdrawal transaction on the gaming platform, simply select Paypal as your payment method. Enter your login details and you’re done.