PayPal is the world's biggest e-wallet, and it handles a huge number of transactions to and from online sports betting sites every single day. This page is designed to tell you everything you need to know about betting with PayPal, from what the top sites accepting PayPal are, to how it keeps you and your details safe.
On this page about online betting with PayPal, you'll find out:
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PayPal is the biggest e-wallet around, but what exactly are e-wallets? Think of them as an online wallet where you store cash, which can then be spent at any site accepting e-wallet payments. All e-wallets have small charges attached to them, however the convenience and security they bring makes these fees more than acceptable.
But how has PayPal grown to become the biggest of all e-wallets? That's thanks to its association with eBay, the massive auction website. PayPal was, and still is, used for the vast majority of eBay transactions, and this meant that anyone using the popular site had to create a PayPal account. It's grown ever since, adding new and useful features on a constant basis, ensuring it stays ahead of competitors such as Neteller and Skrill.
It really couldn't be any easier to make a deposit using PayPal at one of our recommended betting sites, especially if you already have a PayPal account. If you don't, you should set one up, but don't worry, it's completely free! Once you're set up, simply follow the steps below to make your first PayPal deposit.
There are many reasons why so many choose to use PayPal for betting online, however the biggest is security. Some people aren't keen on giving their banking details to an online sportsbook, and would instead prefer to keep their details secret. This is where PayPal comes in. Money can be deposited to PayPal using a bank account, and then distributed to websites as the gambler sees fit.
Additionally, PayPal charges really low fees for receiving money, plus it's super convenient as most people already have PayPal accounts. When you add the speed of the transactions to the mix, it's clear to see why so many people consider PayPal to be one of the best online payment methods in the world!
We are well-known in Canada for providing the best online sportsbook reviews, but why should you trust what we have to say?
Firstly, we're independent from all online sportsbooks, unlike some of the other sites similar to us. This gives us the licence to say exactly what we want about any sportsbook, so you can always be sure our reviews are both honest and accurate.
We're also focused solely on online gamblers in Canada, and this means that everything we say is targeted directly at Canadian gamblers, just like you.
PayPal is well known for being incredibly secure, but how exactly do they keep you safe? The first thing they do is offer comprehensive fraud protection. If you ever find that someone has gained access to your account and stolen money, just contact them and they'll reverse the transaction.
Then there's the two-factor authentication on offer, which provides an extra layer of safety to your account. Two-factor authentication means that you'll be sent a code via SMS every time you want to log-in, meaning those without your smartphone can't ever get access. PayPal really is incredibly safe, but it's no surprise as they spend millions of dollars on keeping you secure every year!
PayPal traces its roots back to 1998, when it was founded under the name of Confinity. This company would then merge with Elon Musk's X.com, before being renamed PayPal in 2001. PayPal would then go public in 2002 - a move that brought in over $60 million. Shortly after, PayPal was purchased by eBay for $1.5 billion, and this made PayPal the payment method used by the majority of eBay buyers and sellers.
PayPal would continue to grow over the next few years, buying up companies such as VeriSign, and partnering with some huge names, including MasterCard. By 2010, the company had managed to gain 100 million active accounts. PayPal and eBay would become different companies in 2014. PayPal still continues to grow to this very day, and is now undoubtedly the biggest name in e-wallets.
As you can see, there are numerous advantages to using PayPal to fund your online gambling accounts, from the security it provides to its convenience. If you'd like to start betting using PayPal, you'll first need to find the top site accepting this payment method, and you can do this by reading our comprehensive reviews. Once you've chosen your site and signed up, you'll be ready to deposit some cash and start making loads of exciting sports bets!
Do you have a question about betting online using PayPal? If so, we'd recommend reading through the below FAQs which answer some of the more commonly asked questions.
PayPal is the world's largest e-wallet and is responsible for billions of dollars of transactions every year. It essentially acts as a middleman between your bank and a business, ensuring that you only ever need to share your bank details with PayPal.
Yes, PayPal spend millions of dollars every year keeping their customers safe and secure. They offer a robust fraud prevention system, use top-level SSL encryption, and offer two-factor authentication.
Yes, PayPal can be used to both deposit and withdraw funds. In fact, if you use PayPal for deposits, you may find that you have to withdraw using the same method. There are no charges for depositing using PayPal, however there are small charges attached to receiving money.
When you deposit using PayPal, you'll find that the money should be in your online gambling account instantly. Withdrawals will take around 48 hours, and this is because the gambling site will take some time to approve the withdrawal request. Once approved, the money is transferred instantly.
There are some charges attached to using PayPal, however they aren't excessive. It is free to add money to a PayPal account from your bank account, and it's then free to spend it. There is a small charge for receiving money from a site though, and this is 3.4% plus ¢20.
You certainly can, and PayPal is actually one of the most popular depositing options for those using a mobile device. Just head to the banking section of your mobile sportsbook and follow the instructions. Please remember to never input personal or banking details when on a connection you don't know or trust.