What is PayPal?
Welcome to our guide to PayPal accepted betting sites. Here, we’ll run through the bookmakers that allow you to use this popular payment method when you place your wagers. Whether you’re new to betting with PayPal and want to know a little bit more about the process in detail, or you’re a complete novice, this guide is for you!
We’ll explain exactly what it entails to use PayPal when betting online. We’ll also be touching on topics such as how to use PayPal, as well as whether you can consider it a safe deposit and withdrawal method. We’ll also scrutinise the PayPal and bookmaker small print, so you’ll know if you will be charged a fee for using it or not. Oh, and how about those bookmakers that accept PayPal? Is your favourite on the list, and if not, which bookmakers can you use in their place? At betting.org you can be assured that we have all the info you’ll need to get started when using PayPal for betting. So, without any further ado, let’s get started on what exactly PayPal is, and why you should or shouldn’t be using it.
PayPal has been around since December 1998 and is an American company that supports online payments. In 2002 it was purchased by eBay and became a wholly owned subsidiary of the online auction site. However, in 2015, it was transferred back into an independent company. Earlier in the year, eBay announced that it would be scaling back its agreement with PayPal online and by 2020 will no longer have any connection to the business. PayPal as a whole is thought to be worth around $40 billion.
For those unfamiliar, PayPal is a money wallet; that’s a posh way of saying an online based account. You can use a money wallet to pay for goods and services at a host of online retailers, including shops, ticket sellers, food delivery companies, and — of course — bookmakers. We’ll talk more about how to use PayPal for betting throughout this guide.
There are a couple of ways you can make payments using your PayPal account. The first is by connecting an existing bank account, credit or debit card to your PayPal account. The other is to use PayPal credit, which is a financial product that works like a credit card but without the plastic. You’ll be given a credit balance in this case, although it is worth noting that not all merchants accept PayPal credit as a valid payment method. The list of naysayers on includes some bookmakers; we’ll discuss more about this soon.
Which Bookmakers Accept PayPal?
Top Three Operators For PayPal
If you’re in search of PayPal bookmakers, we’ve got you covered. There are lots of bookmakers that allow PayPal for betting, including the larger brand names such as Betway, William Hill, and Betfair. While it’s not a full house yet, you shouldn’t have any problem in finding a bookmaker that allows you to deposit with this well-established payment method. PayPal is also instant, which is a great feature for both players and bookmakers alike.
When looking for Paypal bookmakers, UK players should consider the reliability of the site security. Of course, the security of your own PC or phone is also important. PayPal is an off-site payment method. This means that you’ll be transferred away from the bookmaker site to the PayPal website to make your deposit. If betting online, it’s important to check that the bookmaker’s page is secure before transferring. You can check this by looking in the browser’s address bar. You should see a closed padlock next to the web address, which shows you that the site is secure. Check this again once you’ve got to PayPal’s page to ensure your personal details’ safety.
There are three bookmakers that we trust when it comes to PayPal betting. Let’s find out a little bit more about them below.
Betway are one of those special bookmakers that can do it all. From their inception in 2006, the bookmaker has grown and developed their sportsbook into a market leader. You’ll find promotions for horse racing, football, and tennis available on the website as well as deals for fans of virtual betting. As one would expect from this forward-thinking company, you can use PayPal to deposit betting funds with the site.
Football is the dominant sport on Betway, which is no surprise given the bookie’s sponsorship deals. As well as being the current sponsor of West Ham, the bookmaker has also signed a number of deals with German clubs in the Bundesliga. The latest of these is Dynamo Dresden.
When it comes to British bookmakers, few have experienced the longevity and popularity of William Hill. The bookmaker was founded in 1934 in London and still has its headquarters in the city to this day. It’s a multi-million-pound company which exports its services all over the world. It’s no surprise, then, that its sports offerings have an international flavour. As well as traditional sports such as football and tennis you’ll also find Gaelic sports, Aussie rules, and esports tournaments. William Hill complete their excellent service by accepting PayPal as a payment method.
Founded in 2000, Betfair is a bookmaker that was previously listed on the London Stock Exchange before joining Paddy Power in a merger in 2016. Betfair also operates a separate betting exchange function on their website. If you’re unfamiliar, a betting exchange allows you to place wagers for and against an event happening and is a rare thing indeed. It is considered to be one of the largest, if not the largest bookmaker in the UK and has headquarters in Dublin, Ireland.
As well as allowing sports bets on the betting exchange, the bookmaker also offers wagers on 28 different sports. Thousands of sports bets are available daily with a live market section making up a healthy share of the markets available. And, most importantly, you can use PayPal to make your deposits to play here
Are There Any Charges To Use PayPal?
You can usually use PayPal free of charge if you are making a deposit to a bookmaker, however, look out for international bookmakers’ sites. If a transaction involves a currency conversion you will be charged a fee to process the transaction. How much you are charged depends on the recipient’s home country. As a general guide, it will usually be between 0.5% and 2.0% if you are using your existing PayPal balance or your bank account to transfer funds. If you partially fund your deposit by credit or debit card, you will be charged a 3.4% – 7.4% fee, plus a flat fee. The flat fee varies depending on country; for example, if the recipient account is in the USA, the flat fee is £1.99. It’s always worth checking the terms and conditions to ensure you’re happy with the fees before continuing with your deposit.
Some bookmakers will also choose to charge a fee to you for using PayPal. While this is not usually done in the UK, it is more common among international bookmakers. This is because businesses are charged a fee by PayPal for sending and receiving PayPal payments. To minimise their expenses, some bookmakers will charge a small percentage of the sum to you. Always check in a bookmaker’s payment terms and conditions before making a deposit using any payment method. PayPal is no exception to this rule.
What Are The Advantages Of PayPal?
#1: When it comes to finding a simple payment method, few come much easier than PayPal. Once you’ve set up an account with the money wallet it should take just a few moments to make a payment. All you need to do is go to your account settings on your chosen bookmaker’s website and choose PayPal as a payment option. You’ll be whisked to the PayPal site to place your deposit and be betting in no time. If only winning was that simple!
#2: Safety online is paramount, particularly where your finances are concerned. With PayPal, it is easy to keep your money safe online. Your PayPal account is protected with a username and password, your data is encrypted, and your bank or card details are never displayed in full. In other words, it’s really difficult for hackers and other cyber criminals to get your personal information. Just the kind of support you need from a money wallet.
#3: While other payment methods can drag their feet on withdrawals, PayPal is different. While most bookmakers list PayPal payments as taking 3-5 working days to hit your account, in many cases they are quicker than that (bank holidays and weekends aside). If you’re in a hurry, PayPal is one of the best choices for your online sports betting.
Conclusion: While each of these features is great individually, together they make PayPal a very useful payment method for betting online.
What Are The Disadvantages Of PayPal?
#1: No-one likes to be charged extra fees on top of their deposit, but sadly, this may be the case if you deposit with PayPal at an overseas bookmaker. As discussed, PayPal charge a fee on transactions that require currency conversion. This can make PayPal an expensive way to make deposits. Always check with your bookmaker too, as some international bookmakers may charge when processing your PayPal transactions. That can mean a double-whammy of fees if you’re not scrutinising those T&Cs.
#2: While many bookmakers have embraced PayPal wholeheartedly, there are still quite a few out there that don’t use PayPal at all. This is an inconvenience, to say the least. The lack of uptake may stem from the fees that a bookmaker is charged when they allow PayPal transactions. It would be nice to see more bookies offering the money wallet to their customers, especially given the plethora of benefits it offers. Hopefully, PayPal acceptance will be available at a wider range of bookies in the future.
#3: While a bookmaker may accept PayPal deposits, there are a few limitations involved. It’s common for bookmakers to cap the amount that can be withdrawn using PayPal at a lower rate than other payment methods. We’re not really sure why this happens, although it could have something to do with the transaction fees PayPal charges a bookmaker to process a transaction. It’s worth noting that some bookmakers don’t allow withdrawals by PayPal at all. In this case, you’ll have to find a suitable alternative withdrawal payment method, which is a bit of a faff.
Conclusion: The disadvantages of PayPal are notable and rather disappointing. However, these downsides should be manageable for bettors who are willing to be flexible and always ensure they do their research.
Full Test — Our Experience Using Payment PayPal on Betfair
At betting.org we want to make sure we give you honest, helpful advice. That’s why all our recommendations for bookmakers and payment methods are checked by us beforehand, so we don’t give you wrong information. Recently, we took to Betfair to deposit via PayPal. Here’s how we got on.
Step 1. The first step was to register at Betfair. This was a painless process started by clicking the black ‘Join Now’ button at the top of the homepage. New customers who sign up with Betfair will receive up to £100 in extra bets when they make deposits of £10 or more. Five deposits will award £20 in extra bets, which can be repeated five times.
During the registration process, we were asked to confirm our gender and type in our name and address. After this, we selected a username and password and added a security question to our account.
Step 2. Once you click the yellow ‘Join Now’ button at the bottom of the registration page, you’ll be prompted to make a deposit to your account. Your first deposit is the one that triggers the welcome bonus into action. However, it’s worth noting that you can’t claim the promo bonus when depositing using PayPal. Thankfully, there are ways and means around this. To get the bonus, we added a £10 deposit using a debit card with the intention of adding other qualifying deposits later on.
Step 3. We then went into our account settings which can be found at the top of the sportsbook page by clicking the grey ‘Deposit’ button. Our account defaulted to our debit card, so to access PayPal or any other payment methods we needed to select the ‘Alternative methods’ tab. We, obviously, chose PayPal from the options.
Step 4. We typed a deposit amount of £20 and clicked the yellow ‘deposit’ button. This redirected us to the PayPal website. We logged in, picked our preferred payment card and clicked continue. Once we confirmed the payment we were redirected back to the Betfair website ready to place our wagers.
Is Depositing With PayPal Safe?
We couldn’t find any issues with PayPal that made it appear unsafe. Do remember, though, that all financial accounts should be protected using common sense. You wouldn’t give your bank card’s PIN to a random person, so don’t give your PayPal password to either. You should also ensure that your firewall and antivirus are up to date and if you’re using a mobile account, be sure to log out after using PayPal so as to protect your account.
Lastly, check for the locked padlock in the address bar on any website you’re sharing personal details with. This icon is provided to secure websites that have undertaken specialist measures to protect your data. This will help keep your personal information safe when betting online.
What Are The Alternatives To PayPal?
If you’ve decided not to make a deposit using PayPal, there are plenty of other options available to you. If you still like the idea of a money wallet, then it might be worth considering other options in this area. After all, money wallets have lots of plusses over other payment methods, including impressively quick withdrawal processes.
One money wallet which is commonly used online is Neteller, which operates in a similar way to PayPal. Once registered, you can tie your bank account, credit or debit card to your Neteller account and deposit with ease. The bonus of using a money wallet is that no third party ever sees your payment details. So, if depositing to a bookmaker’s site, for example, only Neteller ever comes in contact with your payment information. This adds an extra level of security which suits betting fans worldwide. Another e-wallet, Skrill, works along much the same lines and is also highly popular.
Neteller is also completely free to sign up to and has lower merchant fees than PayPal. These aspects make them a popular choice with bookmaker sites and other retailers.
You may also want to check out cash cards as an option – they work much like credit and debit cards, but you pre-load them with a set amount of funds, allowing you to control your outlay. This is much the same principle that is used by Paysafecard, another alternative payment method.