What is PayPal?
PayPal was established in California in 1998 as a simple online money transfer service. It works as a third-party payment processor allowing quick and anonymous transactions across the internet. PayPal now has more than 300 million active accounts in countries across the world.
Customers can set up a single PayPal ewallet account with an email address, then send and receive funds from there. You can also fund your PayPal account with money from multiple sources such as debit or credit cards and bank transfers.
After it was set up, PayPal quickly became a popular banking option with online sports bettors in the US and across the world. Payments are encrypted and don’t show up in bank accounts as gambling transactions. PayPal betting sites are now available in legal US states such as Pennsylvania and New Jersey.
Benefits of Using PayPal at Online Sports Betting Sites
PayPal sports betting is here to stay in the United States. Here’s what we love about betting sites that accept PayPal:
Accepted for online betting: PayPal is one of the most widely accepted e-wallet providers at US sportsbooks in 2020. Most legal sports betting websites in the US now allow PayPal payments as standard. You can also make mobile sportsbook transfers through the PayPal app.
Instant deposits and quick withdrawals: You can enjoy instant deposits at sports betting websites that accept PayPal. Your funds will appear right away when you move it from your PayPal e-wallet.
PayPal cashouts can take a couple of hours to up to a day to appear. That’s much quicker than making a withdrawal to a bank account or debit card. You can also avoid PayPal fees when you move money to a US bank account.
Anonymous online payments: Many US sportsbooks still can’t process credit and debit card payments, even in regulated states like New Jersey. The issue is not with the sportsbook but banking and financial institution wrongly blocking the transactions.
That’s why it’s great to sign up to sports betting websites that accept PayPal. You can fund your PayPal wallet with a debit or credit card, then transfer the cash anonymously to your sportsbook account.
Claim a PayPal credit card: PayPal now provides its own range of debit, credit and prepaid cards. You can earn 2% cash back on PayPal MasterCard cards, or claim customer points on purchases with your PayPal Extras MasterCard.
What to Watch Out for When Using PayPal
At online sports betting sites that accept PayPal, you can enjoy fast and safe transactions. But there are still things to be wary of when using PayPal online.
Transaction fees: PayPal makes its money from small fees on online transfers. It’s usually free to transfer cash to an online sportsbook as the betting firm will absorb the costs. But watch out for charges when you fund your PayPal account.
Withdrawals take up to a day to process, but you can sign up for Instant Transfers for a fee worth 1% of the amount transferred. There is a maximum fee on Instant Transfers of $10.
Not always eligible for welcome bonuses: All good sports betting websites that accept PayPal also offer welcome bonuses for new players. However, you may be excluded from a welcome promotion if you funded your account via PayPal first. Always check the terms and conditions first before you claim your welcome bonus. It might be better to deposit via one of the many prepaid cards available, especially Play+, first before using your PayPal account for regular payments.
How to Deposit at Online Sportsbooks Using PayPal
It’s easy to get set up and playing at betting sites that accept PayPal. Let’s take you through the process, step by step.
1 - Sign up for a PayPal account
It’s completely free to set up a new PayPal account. Either visit Paypal’s website or open the PayPal app on your mobile device.
2 – Provide your email address and create a password
Make sure your email address is active and create a secure password that is hard to guess.
3 – Enter your personal information
You will be asked to provide personal details like home address and cell number.
4 – Add card profiles to your account
You can now add debit and credit card numbers to your e-wallet for easy transfers later. You can also register your bank account details or apply for a PayPal credit card.
5 – Verify your account
You will need to confirm your email address in order to receive funds in your PayPal account. Find the verification email from PayPal and click on the special link. You have to be 18 or over to open a PayPal account.
6 – Send funds to PayPal betting sites
Once you have funded your e-wallet, you can transfer money to a sports betting account. In the sportsbook cashier, select the PayPal option from the deposit menu. After entering the amount you want to deposit, you will be redirected to the PayPal website.
On the PayPal account page, you can review the amount and the payee information. Click “Send Money Now” and your funds will be transferred. Deposits are usually instant at betting sites that accept PayPal.
PayPal vs Other Deposit Methods
PayPal sports betting is gaining popularity in the US. It’s easy and relatively free from fees. But how does PayPal compare other deposit options available to you?
Play+ Prepaid Card: A prepaid card such as Play+ is a great alternative to e-wallets like PayPal. You can fund your Play+ card with credit or debit cards, and safely transfer the cash into your sportsbook account. You can even withdraw funds on a physical Play+ card from any participating ATM.
ACH/e-check: An e-check is an online form of payment that allows you move funds from your bank account. An e-check provider such as VIP Preferred offers safe and instant transactions and is widely accepted at legal and regulated US sportsbooks, which is all you will find at Bookies.com. Acceptance rates for e-checks in the United States are high.
PayNearMe: PayNearMe is a superb option if you want to pay for your online gambling with cash. You can simply visit your local 7-Eleven, Family Dollar or CVS store and deposit cash into your gambling account. You will have to pay a small charge to make a PayNearMe deposit but you avoid having to use a credit card. PayNearMe can’t be used for withdrawals, so you will have to make a bank transfer or request a check.
Bank/Wire Transfer: Enjoy slick payment protection by using your bank account to fund your sports betting. Wire transfers are accepted widely at regulated US sportsbooks. You can often deposit up to $50,000 in one hit, and transfers are quick. As with credit cards, acceptance rates can vary depending on your bank. Always check the cashier first to see which US banks allow transfers to gambling accounts.
Credit cards: Credit cards such as VISA and MasterCard offer top-level security for deposits. You can also earn cash back and reward points on your purchases. However, the acceptance rates for credit cards at US sportsbooks are still pretty poor. Only around 50% of card payments are accepted for online gambling, even in regulated states such as Pennsylvania. In addition, credit card deposits act as “cash advances,” which typically incur a fee of around 3% on the whole amount.
Debit cards: Debit cards allow instant transactions from your checking account. Minimum deposits by debit card can be pretty low as well. However, as with credit cards, acceptance rates for debit cards are still very low in the US.
Cash at Casino Cage: Some PayPal betting sites also let you deposit in person. If the online sportsbook has a land-based casino partner, you can often visit the casino in person and make instant deposits. Maximum deposits can be large too, as much as $100,000 a day.
PayPal Betting Sites FAQ
Can PayPal be used at all online sports betting sites?
PayPal is accepted at the majority of legal sportsbooks in the US in 2020. You can transfer as little as $10 into your sportsbook account with a PayPal deposit, or as much as $5,000 a day.
Are there any fees when using PayPal for online casino deposits?
Typically, it is free of charge when you transfer cash from your PayPal digital wallet to a sportsbook.
What is the transaction speed when using PayPal?
Deposits are usually instant with online bookies that accept PayPal. Withdrawal requests usually take around 24-48 hours to process.
Do I need an account to use PayPal? How do I get one?
Yes. You will need to open an account at the PayPal site, which is free of charge. You have to be 18 or older to open an account, but age resitrictions (typically 21) still apply at sportsbooks.
What sports betting sites accept PayPal?
On this page you will find a full list of sports betting websites that accept PayPal deposits. All of our recommended online bookies offer a full range of markets to bet on and secure transactions every time.
Can I withdraw my winnings using PayPal?
Yes. Often, you can only withdraw money to a PayPal ewallet if you used one to make a deposit. This is to avoid money-laundering and any accusations of fraud.
What are the maximum and minimum deposits with PayPal?
Most betting sites that accept PayPal allow deposits from $10 to $1,500. Daily limits for a PayPal deposit can be as high as $5,000 and monthly limits $40,000-$50,000.
Is PayPal allowed at mobile sportsbooks?
Yes. You can use your PayPal mobile app when you select the deposit option in the sportsbook cashier. You will be directed to the PayPal app to complete your transaction.
Is PayPal safe to use?
Yes. When you use PayPal for sports betting, all transactions are protected using EWP (Encrypted Website Payments). This means that your account details are encrypted when funds are sent across the internet.
Can I still obtain a bonus using PayPal?
Often, yes, however PayPal isn’t always excepted as a payment method when you try to claim a welcome bonus. It’s worth checking the bonus terms and conditions before you open your gambling account.