Anyone who wants to play in the online casino with PayPal has a long dry spell behind them. The payment service had withdrawn from online casinos for years.
Contrary to other reports, there are still no current PayPal casinos. And as a player, you ask yourself the question: should I switch back to PayPal at all? Or are there better alternatives in the meantime?
What is PayPal?
PayPal is a payment service that belongs to e-wallets or online wallets. The company is based in California, USA. The German Peter Thiel was one of the driving forces behind the founding and establishment of PayPal.
This type of online wallet differs from a bank in that there are no branches in the cities. Instead, it is a purely online model. Nevertheless, they have the necessary licenses such as approval from the Luxembourg financial supervisory authority CSSF. Financial regulation applies across the EU.
How do you create a user account?
In order to pay with PayPal in the online casino (or anywhere), you first have to create a PayPal user account. To do this, you have to go to the www.paypal.com page on the “new register” button and provide the usual information. You can then top up the account: For example, you can connect a credit card or bank account to the account.
Recently, transactions with cryptocurrencies such as Bitcoin have also been possible.
Is the user account free?
Both the registration of the user account and the use of the service are free of charge. You don’t have to pay a monthly or any kind of fee to have an account.
PayPal makes money in three ways:
When converting currencies (for example from US dollars to euros), they use an exchange rate that leaves a little bit of money for them.
There is a small fee for withdrawing funds
There is also a fee for paying for goods and services (which can be avoided by sending money to friends and family).
Why is PayPal so popular?
Until a few years ago, PayPal was incredibly popular in online gambling. As a payment option for sports betting, poker and casino on the Internet, it was one of the most widely used means of payment.
Paypal also has a great reputation outside of gambling and is used regularly by several million users in Germany alone.
From eBay means of payment to an independent brand
Around the turn of the millennium, people around the world discovered online trading. The internet marketplace eBay became a big thing.
When it came to paying for the goods, there wasn’t as much choice as there is today. The payment systems we know today didn’t exist back then. The only advanced payment option was PayPal – which happened to be a payment system that initially belonged to eBay itself.
Thanks to eBay, Paypal became a major market with many millions of users – and ultimately independent.
Get money back with PayPal Buyer Protection
PayPal is also famous for its buyer protection, which is a great feature. This is exactly why this payment service is popular with many users. If the purchased goods do not arrive or are faulty, you can get your money back with just a few clicks. Initially, this takes place without any examination. Paypal makes an advance payment and only then clarifies the case with the seller.
So you can shop online with practically no risk. But does the buyer protection also apply in the online casino and can you use it after a streak of bad luck without further questions?
PayPal buyer protection in the online casino
In fact, PayPal removed buyer protection from online gambling years ago. Obviously, too many online casino players simply wanted their money back after a loss. Nevertheless, one could still hope that losses would be reimbursed afterward. If you claimed that you did not authorize certain deposits, then the chances of a so-called chargeback were not that bad.
Pay in and out in the online casino with PayPal
Now we come to the practical part with facts and figures. If you want to pay into the online casino with PayPal, what should you watch out for?
First of all, you have to have both: a user account with PayPal and a player account in the online casino. On the gambling website, you then go to the checkout area and select your payment method.
Then you will be redirected to the PayPal page, where you can complete the deposit. The whole thing only takes a few seconds and the money appears immediately in the player’s account.
Fees
PayPal is not one of the micro-fee payment service providers. Compared to many newer payment solutions, online casinos have to withdraw a relatively large amount of money for the transactions. Some of these costs are passed on to the players.
Paying in and out has not always been free of charge with PayPal. If you wanted to move money free of charge in the checkout area, you often had to resort to other payment methods.
Minimum amounts and limits
The minimum deposit amount is between 10 and 20 euros, depending on the provider. The maximum amounts per transaction vary depending on the online casino for PayPal and are between 1000 and 4000 euros.
Many casinos now have a monthly deposit limit of 1000 euros, although you can increase this limit if you wish.
Safety
PayPal is considered a secure deposit method that meets the required security standards. Of course, this also includes 128-bit SSL encryption.
You should of course choose your password for the user account well and not give it to other people. In addition, you should only keep your passwords safe – if at all.
Account verification
Confirming the means of payment used as part of the account verification process can be quite exhausting, for example with credit cards. This is easy with the PayPal account.
All you have to do is take a screenshot with the necessary data and upload it, and that’s quick and easy. The e-mail address registered with the PayPal account must be visible on the screenshot.
Withdraw profits
The online wallets have the advantage that you can not only top up your player account in the casino. We can also have the credit paid out directly. All payment transactions are regulated with one user account, which makes things much easier.
In addition, the payments are booked immediately. Of course, you have to wait for the online casino to approve the payout. Then you don’t have to wait any longer for the money, as with credit cards or bank transfers. Instead, the money is posted immediately.
Redeem bonus
When it comes to casino bonuses, we can certify the qualities of PayPal. Unlike some other e-wallets, deposits made via PayPal are not excluded from the bonus activation.
Anyone who plays in the internet casino in order to take a free reward with them from time to time can easily go to work with PayPal.
Other e-wallets in the casino
However, since PayPal has still disappeared from the casino stage in different countries and Germany, we have tackled the comparison with other online wallets.
What are the differences and how does PayPal fare? First, let’s take a look at the alternatives.
Skrill, Neteller, EcoPayz and MuchBetter
Let’s take a look at the most famous online wallets in online casinos:
Skrill: This wallet existed over 10 years ago under the name Moneybookers. You can find them in almost every casino.
Neteller: Neteller is also one of the very old wallets and is similarly widespread.
EcoPayz: EcoPayz is a bit newer and is slowly gaining acceptance. Few gambling websites can do without it.
MuchBetter: This online wallet has an SMS as a security measure and is, therefore, a mobile payment method. Zimpler also works in a similar way.
Bonus with online wallets
An important topic for many of our players is the bonus. If we take a closer look at the bonus conditions of the providers, it is noticeable: With some e-wallets, you cannot activate the respective bonus offers.
Bonus lettering: Skrill and Neteller in particular were often excluded from bonus use in the past. If you wanted to get the welcome bonus or a loyalty bonus, you had to deposit with another payment method such as MuchBetter, EcoPayz, or with a completely different option.
However, a change is taking place there too. Especially with newer online casinos, Skrill and Neteller are rarely excluded from redeeming the offers.
Playing in the online casino with Paypal: Discussion
Suppose you could make another deposit in the online casino with Paypal – would this payment method be as popular again as it was before? Or has the competition been able to fill this gap in the meantime and make PayPal superfluous?
Advantages
The big advantage of PayPal was buyer protection, which has long been deactivated in the online casino. The possibility of recovering losses in other ways via PayPal would probably also be small with a return of the e-wallet to online casinos.
Of course, it was always great that you could redeem a lot of bonus offers with PayPal. However, this has long been the case with other comparable payment methods.
It could also be seen as an advantage that a large number of German users already have a PayPal account and are familiar with its use.
Disadvantages
Obsolete: Paypal has been a popular means of payment for a very long time. The new generation with MuchBetter and authorization via SMS is more in the navel of the times.
Fees: In some casinos, you had to deduct fees for deposits and withdrawals via PayPal. It looks different from most other online wallets: They are free from a player’s point of view.
Availability: Then of course you have to say that PayPal is simply not available at the moment. If you return to the online casinos, you will certainly not be welcomed with open arms by all providers.
Which online wallet is the best?
Which e-wallets (or in general which payment method) is best in the online casino is of course an individual question.
Viewed objectively, however, other wallets such as MuchBetter, Neteller, or EcoPayz have practically no disadvantages compared to PayPal.
Conclusion
If you want to deposit in the online casino with PayPal, you have to be patient. Do not be misled by fake lists on other supposed expert sites.
But there are a number of online wallets that are available in many casinos in the checkout area. As a rule, you can then collect a nice bonus as a greeting.
