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PayPal – Payments at Online Casinos
One payment method that’s available in almost all countries is PayPal. However, even though this option might also be found at online casinos, not all players can use it. Actually, casinos can only support this method for players from a relatively small number of countries. This is not because the casinos don’t want to make it available but because PayPal will not allow it. The casinos that do offer this payment method usually offer it for players from the UK, Germany and a few other countries.
Our American Players’ Favorite PayPal - With Ratings! Updated January 2021
Depositing with PayPal, if it’s an option available to you, is easy. You simply choose it by clicking the PayPal logo in the list of available options on the deposit page. You’ll then be prompted to sign in to your PayPal account through a pop-up. This is the default payment option that will be debited from your account, so if you’re using a debit or credit card or your bank account with PayPal, this is something you’ll need to edit in the settings in your PayPal account.
In the pop-up, you won’t be taken to the website for your PayPal account but to a simple payment page where you can authorize your payment. The deposit will be immediate since there is no waiting period for the deposit to be credited to your player account.
PayPal withdrawals work the same way they do for most other e-wallets. You go to the cashout page at the casino, enter the amount you want to withdraw, then choose PayPal. You’ll only be able to choose this option if you have already made a deposit with PayPal, and the withdrawal will only be approved if the deposit that generated the winnings you’re withdrawing from was made using this option. In other words, just because you can see the PayPal option on the withdrawal page doesn’t mean that you can automatically use this option for every withdrawal. According to Anti-Money Laundry rules, you should, whenever possible, withdraw to the same method as the winning deposit was made with.
If you have only used PayPal for all of your deposits and withdrawals at an online casino, chances are that you won’t need to verify your account. On the other hand, if you have used several methods for deposits within the last 6 months, chances are you’ll need to verify the ownership of all of them before you can make any withdrawals from your account. A casino can also ask for verification of any account whenever they want to, even before you make any withdrawals. So, if you’ve connected your PayPal account to your casino account, you should be prepared for a verification request.
The verification itself is very simple. All you’ll have to do is take a screenshot of your PayPal account that shows you’re logged in to your account and also shows your name and email address. The account information page is a good place to do this. If you haven’t already gone through the KYC verification process, you’ll also have to do this, and this means you’ll have to submit other documents to verify who you are and where you live.
As with any other transaction you perform online, there is always a fee since the payment processors also need to make a profit somehow. PayPal is not known for having low fees, but at casinos you may get away with making both deposits and withdrawals totally fee free. It’s quite common for a casino to cover the costs of transactions both to and from the casino, so you only pay what you want to deposit, and you get all the money that you want to withdraw from your casino account. But, some casinos make their players pay the fees themselves, and then you’ll usually be charged up to 3% for all of the transactions you make with PayPal.
Also watch out for the processing fees the casinos charge to handle your withdrawals. If they have these kinds of charges, they are usually a small percentage of your withdrawal that’s capped at around €590 or something similar, or they may change a fixed-rate fee per transaction.
The limits for transactions through PayPal are usually quite low compared to many other payment options. Some don’t allow more than €500 per transaction, but some allow several thousand. The limits should always be visible on the deposit and withdrawal pages at the casinos.
Luckily, PayPal is a payment method that can almost always activate a bonus at online casinos. It’s very rare that a casino blocks bonuses for players choosing this deposit method, although it could, of course, happen. Since not all players from all countries are even able to use PayPal to perform casino transactions, and since the bonus terms may differ from country to country, you should always read the terms for each bonus carefully to make sure your preferred payment method can be used. If a casino did block bonuses with an e-wallet, they would most often block only the first deposit or any deposits that are part of a multi-tiered welcome package.
You could also, of course, get an exclusive PayPal bonus, but these are rare. Most casinos only offer payment method bonuses for the methods that are cheapest for them to use, in order to prompt more players to use the options with lower fees. This is why choosing PayPal doesn’t often qualify for exclusive bonuses. So even though you might get a normal casino bonus with this payment option, you probably won’t get anything extra just for using PayPal to make deposits.