E-wallets are no longer viewed as a niche alternative to credit or debit cards – at least not in the betting industry. Over the years, they have gone from being a fringe, lackluster payment method full of fees and other issues to becoming the preferred trading method for most betting enthusiasts in the UK.
Of course, with this great growth came other problems – industry size, competition for the same players, and much, much more. Some e-wallet solutions like Paypal, Skrill and Neteller have blossomed and have become worldwide giants, while others have been condemned to anonymity. We couldn’t possibly begin our analysis of e-wallet solutions any different than the worldwide industry leader: Paypal.
- Paypal Betting Sites In The UK
- How To Set Up A Paypal Account?
- Paypal Gambling: Allowed Countries
- About Paypal
UK Betting Sites That Accept Paypal
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Nowadays, lots of betting sites accept Paypal as a preferred deposit method for their clients. Some of them give out special bonuses like free bets or extra money, to determine more and more people to start using Paypal as their main deposit and withdrawal method. The advantages of using an e-wallet in general and Paypal, in particular, are numerous, but we feel obliged to mention a few:
All transactions are encrypted and pass through extremely secure servers. Adding another layer of security between your bank and your bookmaker is always a good idea. Furthermore, if your account ever gets compromised, you will only lose access to your e-wallet, not to your entire bank account.
Some banks don’t view gambling very well. Other clients might want to hide their betting activity from friends and family. These are all cases where an e-wallet comes in handy – since the source of the funds in your Paypal account is hidden.
Sometimes, bank transfers could take days to get completed, while other times a bank can just deny a transaction for no apparent reason. This never happens with Paypal or any other e-wallet – making sure that your funds arrive in your betting account as quickly as possible.
That being said, it sounds like using a Paypal account only has good sides. Of course, there are a few nuances as well, which you will see once we walk you through the process of setting up an account and starting to use it for online betting.
How To Get An Account At Paypal?
First and foremost, getting an account with Paypal is incredibly easy – you just need an e-mail, and the signup on the page takes a few minutes from any device. The tricky part which comes next is linking the Paypal account with a credit or debit card. Not all cards can be associated with a Paypal account – Visa ones typically work best and have a meager rate of rejection.
You need to have a few pounds or euros available on this card since Paypal will make a small claim to make sure that the card actually works – and it will give you the money back afterward. The entire verification process takes half an hour to an hour, so make sure you have some time and patience.
Paypal Gambling – Deposits And Withdrawals
After you have the account set up, you can quickly deposit some funds into your Paypal account, which you can then use online. Moving it into your betting account should be easy – just go to the website’s address and deposit funds, selecting “Paypal” from the drop-down menu.
The downside with this method of deposit is that it’s not free. While the website will rarely incur any fees, Paypal will charge you for depositing money into a betting account. While the sum certainly isn’t large by any means, it’s not free – and if you plan on making many deposits on several online sports betting sites and casinos, you might want to note these expenses down.
So, in order to sum up our ideas, the only downsides we see in using Paypal as an e-wallet are related to the lengthy sign-up and verification process and the fact that Paypal charges fees for certain transactions. Most people agree that it’s a decent price to pay for the security, anonymity, and convenience that Paypal offers, but at the end of the day, the choice is entirely with each and every customer.
Just like choosing a bookmaker, choosing a preferred method of deposit and withdrawing money is often a matter of taste rather than an analysis done on cold, hard facts. Paypal certainly is a good money management option – just make sure it’s the best for you, because for gambling purpose Paypal can be used only in these countries: Austria, Belgium, Denmark, Finland, France, Greece, Ireland, Italy, Portugal, Spain, Sweden and United Kingdom.
Paypal was founded in 1998 and it ran by the name of Confinity for quite some time. Currently, they are the most popular e-wallet in the world, employing over 18,000 people and serving hundreds of millions of customers across all industries. They have become almost synonymous with the e-wallet industry, and for a good reason, too: Paypal offers quick, safe and easy-to-use transactions across an extensive range of platforms. Their involvement in the online betting industry came naturally with the development of the company, and it only brought the industry to new heights.