PayPal, created and monitored by eBay, is one of the largest payment companies in the world. In 2014, they moved $228 billion in 30 different currencies to 190 different countries, according to Wikipedia.
Basically, PayPal casinos is an excellent online and offline payment method and almost everyone has heard about it because PayPal can be used for almost anything, including online gambling.
However, PayPal is one of the few payment companies that adheres to the laws of the countries or states in which it operates. This means you might be unable to use PayPal, let’s find out how to use Paypal at online casinos.
Depositing money with Paypal
Making a deposit transaction with Paypal into your gambling account is as simple as using your credit cards. Let’s see how to do it.
- Proceed to the deposit section and choose the payment method is PayPal.
- Enter the amount of money you wish to deposit.
- Enter your promotional/coupon/bonus code here (if you have one)
- Submit the form.
That’s all. You will then be directed to PayPal’s website, where you must log in to your account to approve the payment. After that, payments are usually cleared immediately after approval.
In India, most Paypal casinos will accept deposits ranging from $10 to $10,000. And please remember, most online casinos websites will cover fees on incoming payments. So, don’t be surprised if you come across a site that charges a small fee.
Withdrawing money with Paypal
Originally, the withdrawing process is totally the same with the depositing process. But cash outs are not the same in the withdrawing fee. This will vary by every online casino, but you should expect to pay $10 to $25 in fees if the online casino you’re playing at charges fees. This is in addition to any fees charged by PayPal.
In short, making payments with PayPal casinos, as previously stated, is simple. It’s also quick and reasonably priced.
PayPal and The UIGEA
The most significant disadvantage of PayPal is their policies regarding the use of their services for online gambling, particularly for Americans. As announced in their policies, “PayPal forbids transactions for casino games by dealers and customer accounts in the United States and any other jurisdiction where gambling is illegal, as well as dealers whose services are available to account owners in the United States.
PayPal allows authorized gambling merchants utilise our service in jurisdictions where betting is legal. Merchants must prove to PayPal’s satisfaction that they have the power to prevent casinos for account holders in the United States and any jurisdiction where casinos may be illegal”.
The last thing you must remember is as long as you can prove your transaction is transparent and legal, you can use Paypal for depositing and withdrawing money. PayPal has specified most online casino games are forbidden, which includes all gambling games, slots, poker, sports betting, horse betting, the lottery, and others. Please remember everything they have mentioned in here.