We will be discussing the following points in detail:
- What PayPal is and its history.
- How to use PayPal on the best PayPal betting sites around on the 2023 market.
- Some of our picks for the best new betting sites that use PayPal.
The Best PayPal Bookmakers
Choosing the top PayPal bookmakers is not a simple job. Because so many leading online operators accept PayPal as a valid payment option, it is hard to narrow down which one is best. It becomes more of a subject of personal taste than any objective factor, as all of these betting sites that take PayPal are truly excellent. Our picks for some of the best PayPal betting websites currently available include Ladbrokes, Sky Bet, Bet Regal, Coral, and Paddy Power. These sites have the best odds and sports betting options, allow you to bet on Esports, and have excellent customer support services.
Claim a Bonus when You Make a Deposit with PayPal
Practically all of the PayPal sports betting sites will offer some customer bonuses. These are frequently given to both new players and existing customers. Some of the most popular forms of joining bonus or general promotions include no deposit bonuses, matched betting bonuses, and free bets. A casino cash bonus or free spins can be given as bonuses for online casinos or the casino section of an online sportsbook site.
How to Use PayPal for Online Betting
PayPal bookies let their player-base use PayPal to both deposit cash and withdraw winnings. Your preferred method of payment may be asked during the registration process. If you wish to use PayPal to deposit and withdraw money, you should choose it as your preferred method. To use PayPal for online betting, ensure your account has funds or is linked to a bank account with funds.
|👍 Minimum Deposit:||£ 5|
|% Processing Fee:||No Fee|
|⏱ Transaction Speed:||Instant Deposit Times Up to 24 Hours Withdrawal Times|
|🆓 Largest Free Bet:||888Sport and William Hill: Bet £10, Get £30 in Free Bets|
|📱 Dedicated app:||Yes|
|🌍 Supported in:||Most Countries|
|💯 Best PayPal Betting Site:||William Hill|
|⏩ Fastest PayPal Bookie Withdrawal:||Betfred|
|⭐ Best PayPal Bookie Deposit:||TVG|
|🔝 High Deposit Limits:||Parimatch|
|🔁 Betting Exchange and PayPal:||888Sport|
|🎁 Best PayPal Bonus:||STSbet|
What is PayPal?
PayPal is a relatively simple platform to use. While it may take a little more getting used to than a simple debit or credit card payment option, it offers unprecedented financial security, especially when used on online sportsbooks.
Essentially, the platform works as an E-wallet. It means you can transfer money from your bank account directly to PayPal and then hold it there for as long as you require.
Once ready to use those funds, you can transfer them to your linked bank account or use your PayPal account's funds to place a bet.
The History of PayPal
In 1998 PayPal founders Peter Thiel, Max Levchin, and Luke Nosek developed the company originally intended as security software named Confinity. They soon switched focus, rebranding the software as an E-wallet that officially launched in 1999 and went public in 2002. Interestingly, Elon Musk (of Tesla fame) had a brief run-in with the company when it started, as he didn't see a future in the E-wallet market.
As one of the first E-wallets in the world, it didn’t take long before online merchants and bookies signed up as PayPal’s partners. The company has a user-friendly policy and is known for picking only reputable betting sites and businesses. In 2002, online gambling accounted for around 8% of PayPal’s entire business value. Of course, it was looking to expand on that number, expanding into territories outside North America.
Now available in more than 100 countries, it is one of the safest, most secure payment methods at online sports betting sites. It’s a preferred payment method for many, with bettors citing its unbeatable security and fast deposits and withdrawals as the main reasons they flock to PayPal.
eBay Purchases PayPal
PayPal went through a public IPO in 2002. eBay acquired it the same year with a value of $1.5 billion. After more than a decade of business, eBay spun it off to its shareholders, and PayPal became an independent company once again. In 2022, the company ranked 143rd on the Fortune 500 list, ranking the biggest US corporations by value. During its time with eBay, PayPal became the nr. 1 payment service provider for online transactions. After going independent again, it has branched out to new industries, including a more widespread approach to online sports betting. It’s now among the top wallets for online betting, which accounts for a solid part of its annual revenue.
PayPal Returns to Online Betting
PayPal was not that interested in online sports betting until 2009. The growing industry caught its shareholders’ eyes, and the company decided to return to the online sports betting business. It was a tough time considering the implications of the PASPA act, but online bookies were very interested in partnering with PayPal. The company only partnered with bookies in legal jurisdictions, focusing on the UK at the time. The first company in Europe to accept PayPal transactions was Betfair, a betting exchange which took a different approach to wager than US sportsbooks. It gave PayPal a way into an entirely different (yet legit) industry.
As soon as Betfair announced it as a new accepted payment method, the industry was on notice. It didn’t take long before William Hill, and Ladbrokes joined the party. Other European sports betting giants wanted a piece of the cake. Bet365 announced the addition of PayPal to its list of payment methods shortly after, while the company continued its payment service ventures in the USA.
The PASPA act was the only thing preventing PayPal from offering its services to US bettors. Once it was lifted in 2018, it entered the market slowly but surely. That wasn’t the first time it entered the online gambling industry. From 2000 to November 2002, PayPal was the leading e-wallet for online poker, casino, and sports betting. It ended, though, after the Government prosecuted it over the use of online gambling. PayPal paid a $10 million fine and moved to other ventures.
New Jersey was the next big step for PayPal, entering the regulated online gambling market in NJ in 2015. Its movement back allowed it to compete with Neteller and Skrill while remaining one of the best e-wallets in the business. With online sports betting becoming increasingly more popular in many US states and the PASPA act lifted, it’s PayPal’s time to shine once again. Time will pass before it enters the industry again.
Quick Paypal Tip
If you’re looking for an E-wallet for deposits and withdrawals at US betting sites, PayPal is an excellent choice. It mainly focuses on the US market and offers safe and fast transactions at online bookies. It’s one of the world’s leading E-wallets, and being careful about its partners means the biggest betting operators only accept it.
Making a Deposit with PayPal
Depositing on an online betting site with PayPal is pretty straightforward. While each operator has different procedures surrounding the deposit process, all tend to follow the same general approach. Find your account page on the website, and then click on the “Deposit” tab. From here, you should be able to select your payment method. Choose PayPal and enter the details of your PayPal account. Enter the amount you wish to deposit into your betting account from your PayPal and click the button to send the request.
Making a Withdrawal with PayPal
Your account details will probably be saved if you have already made a deposit using PayPal on an online betting site. If they have been saved, you need to click the “Withdraw” tab, select PayPal, and enter the amount you wish to withdraw from your account.
In most cases, you will not be charged any fees for using PayPal at an online sportsbook. The only circumstance that would alter this is if you were using a different currency or came from another country than the online bookmaker. For example, if you are from the USA and try to use USD (dollars) on a UK-based online site, some fees may be charged for conversion.
Countries that Accept PayPal for Sports Gambling
PayPal is available in over 200 countries or regions, so the likelihood is that your country accepts PayPal payments for online betting. The UK, USA, and Australia are some of the countries that use PayPal the most for online betting.
Which States Allow Sports Betting With PayPal
Dozens of US states have legalized sports betting online since the PASPA act was overturned. For those unaware, this act effectively prevented sports wagering on a federal level, and it took almost 2 decades before it was overturned in 2018. Not all US states allow PayPal betting sites. Some only permit it in local or tribal casinos. Others enable online and mobile betting too.
That’s why there’s been an influx in PayPal betting sites. It’s a popular payment method for football and horse race betting, and the plan is for the company to go live in several other states where bettors can take advantage of its great benefits. While it doesn't live in all states, Nevada and New Jersey bettors can use it.
Accepted Currencies on PayPal
PayPal accepts 25 different currencies, covering countries across the globe. Some of the most popular currencies accepted at PayPal include the Australian dollar (AUD), the British Pound (GBP), the Euro (EUR), and the American Dollar (USD). Suppose you use an online sportsbook that accepts PayPal but is situated offshore (not within your country). In that case, you may be charged a small conversion fee as your currency will likely differ from the site's usually accepted currency.
Using PayPal on Mobile Betting Apps
Online betting with PayPal has never been easier, thanks to mobile betting. Many bet sites that accept PayPal allow users to bet via a mobile app. The leading operators usually provide this mobile betting app for free, accessible via the Android or iOS app store. These apps are dedicated mobile betting experiences that bring the thrilling wagering experience directly to the comfort of your hand. These mobile betting apps capture the same great online betting experience you are used to and make it even more comfortable and user-friendly.
Staying Safe when Using PayPal to Bet Online
It is of paramount importance that you remain safe at all times when betting online using the PayPal platform. To keep your PayPal details secure and your financial information safe, ensure you stay vigilant of any scam emails or phishing attempts. Similarly, ensure that you are using only online betting companies wholly trusted. Customer and critic reviews are a great way of telling whether a website is trustworthy.
Maintaining Your Privacy
When it comes to your online safety, privacy is key. Your personal information should never be put at risk. When you use PayPal for online betting, the company will keep your personal and banking information safe. They achieve this by using modern software that protects online data against cyber threats. These firewalls are used to stop hackers from stealing your private information effectively.
Alternatives to PayPal
While PayPal is a straightforward and convenient payment method, other payment methods are available to you on online bookies. Some of the most popular alternatives to using PayPal include credit and debit card payment options from popular providers like VISA and MasterCard, other E-wallet providers like Neteller and Boku, or Cryptocurrency payments like Bitcoin. Bitcoin betting sites and Boku bookmakers are a little trickier to find in the 2023 market.
PayPal vs Play+ Prepaid Card
Prepaid cards are getting increasingly popular since you can buy and use them anonymously. Think of them as gift vouchers you can redeem at online sports betting sites. They have much more restricted limits than PayPal and can’t be used to withdraw. The Play+ prepaid card can be funded with credit/debit cards too, but it doesn’t beat the reach or benefits of PayPal. On the positive side, you can withdraw money if you’ve applied and got your Play+ prepaid physical card.
PayPal vs ACH/eCheck
EChecks are vastly different from what PayPal represents. They’re just like the physical cheques used in the past, allowing you to move money from and to your bank account. Since they’re linked to your bank account, their deposit and withdrawal times are incomparable to PayPal or just about any other digital payment service. While eChecks have unbeatable, bank-level security, PayPal comes close and is much easier to use. We can safely say that eChecks are a modernized version of an archaic payment method, so sticking to PayPal sportsbooks is the better option.
PayPal vs PayNearMe
If you prefer to pay old-school with cash but want to enjoy the benefits of online bookies, PayNearMe is the best choice. Visit your local CVS, Family Dollar, or 7-Eleven and deposit some money into your sports betting account. It’ll take a while before the deposit is completed, but it’s a great alternative to PayPal. Still, we think the E-wallet is advantageous and can be used anytime and anywhere. You can’t withdraw with PayNearMe, another point on PayPal’s side.
PayPal vs Bank/Wire Transfer
Wire transfers are the most secure way to transfer money at an online bookie. However, they’re by far the slowest option too. We’re talking days until the deposit is made. Why that long? Banks are notorious for their security, and the money passes several levels of approval before being transferred. While there are no obvious advantages to wire transfers, they’re accepted at all betting sites and allow deposits up to $50,000 or more. But deposit using PayPal is still the better option, as not all banks in the USA will transfer money to online sportsbooks.
PayPal vs Credit cards
If you want bank-level security and solid limits, Visa and MasterCard credit card deposits are the way to go. Some banks will also give you cashback or reward points on purchases which isn’t the case with PayPal. On the other hand, we can honestly say that credit cards are still not as widespread at online sportsbooks in the USA as PayPal is. Some are tiny, but others may go as high as 30%, depending on the payment service provider. Plus, since you’re using cash in advance, there might be fees involved in each deposit.
PayPal vs Debit cards
Debit cards allow you to use your checking account to make sports betting deposits. Unlike credit cards, you’re not using cash in advance, so fees are non-existent. Of course, deposit times with debit cards are instant. The only disadvantage compared to PayPal is the small number of betting sites in the USA that accept debit card deposits. You’re more likely to find a bookie with PayPal than one that accepts Visa and MasterCard debit cards.
PayPal vs Cash at Casino Cage
Not all, but some PayPal bookies will accept cash deposited in person. How is that possible? Many online sportsbooks in the USA have a land-based partner that allows them to operate legally. In that case, you can deposit the money via Cash at Casino Cage, in person and on-site. These deposits are instant and have a major advantage over PayPal – they allow for huge deposits that can go as high as $100,000 per day. On the other hand, you’ll still share personal details that way, not to mention that carrying around that kind of money isn’t always a great idea. Most bettors will choose PayPal.
PayPal vs Skrill
Skrill is one of the most popular payment methods at betting sites in the USA. It’s a direct competitor to PayPal, sharing many similarities. They mostly offer the same service to American bettors and can be funded in various ways. Skrill has more options on this list, meaning you can fund it with more alternatives than PayPal. The limits are slightly different, but Skrill is generally more widespread in the US than betting sites that accept PayPal deposits.
PayPal vs Neteller
A Skrill and PayPal alternative, Neteller is part of the same payments network as Skrill. The only difference is the fees, which are slightly higher than PayPal. US bookies that accept Skrill accept Neteller, too – they usually go in one package. That can’t be said for PayPal, which is notoriously stingy about who it partners with. Nevertheless, PayPal and Neteller share many similarities, making them viable alternatives to the leading E-wallet.
PayPal vs Apple Pay
Apple Pay is a new product in the e-wallet market, so don't expect to see too many Apple Pay bookies anytime soon. Those sites that accept it allow you to pay through your iPhone, iPad, Mac, or Apple Watch literally in 2 clicks on your screen, but the payment service only works with iOS devices, unlike PayPal, which also works on Android. If you're an iOS devotee and use Apple Pay for online transactions, you'll find it a great option for online bookmakers.
PayPal vs Venmo
Venmo is a PayPal-owned mobile app that enables sending and receiving funds. It’s commonly used to split the bill at restaurants between friends, but it can also be used for online sports betting. It allows easy transactions at betting sites, but its limits and benefits are not as significant as those of PayPal.
New Bookmakers that Accept PayPal
If you are looking for a newer online betting experience, perhaps you would prefer an online sportsbook recently established in 2023. Before accessing any new bookmaker, sites, ensure you have researched them thoroughly. Some new bookie sites can appear legitimate but are untrustworthy and dangerous after a while. Check reviews to see if the latest online betting site is fair, legal, and safe before registering with them. Some of our favourite new safe betting sites with PayPal include Mr. Play Sport, Bet Regal, 10Bet, and RubyBet.
Is Betting with PayPal Worth It?
Many people use PayPal for their online betting due to the simplicity and convenience of the payment method. If you already have a PayPal account, linking it to a betting site is incredibly simple and makes the whole online betting experience a more streamlined process overall. And if you don't already have a PayPal account, then it takes only a few minutes to create one and link your bank account to it.
An Overview of Using PayPal for Online Betting
In summary, PayPal is an excellent payment option for your online betting needs. Every top PayPal bookmaker will keep your information safe and provide you with a high-quality betting experience. PayPal is accepted worldwide and gives you an unprecedented amount of choice regarding how you want to pay. Deposits and withdrawals are fast and easy with this payment option. Below is a list of things you should know about using PayPal to gamble online.
Things to know about PayPal:
- PayPal is accepted in over 200 countries, including the US, UK, Australia, India, and Europe.
- PayPal allows 25 different currencies, including the Euro, the Australian dollar, the American dollar, and the British pound.
- PayPal supports many languages on its website, including English, French, Italian, and German.
- There are some alternatives to using PayPal, including card payment options (VISA, MasterCard), cryptocurrencies (Bitcoin), or bank transfer options.
- Some of the most popular betting sites PayPal is used on include Coral, Paddy Power, Bet Regal, and Sky Bet.
If you are looking for an easy and convenient payment method for online betting, then PayPal is an option. This E-wallet platform includes fast and easy deposits and withdrawals, state-of-the-art encryption software, a responsive customer support team, and more. Head to PayPal's website today to set up an account.
Frequently Asked Questions
Can I use PayPal for online betting?
PayPal can be used on many online betting sites. The vast majority of leading online sportsbook operators will accept PayPal payments. You should check before registering with an operator to guarantee that they accept PayPal payments.
How do I pay with PayPal on Bet365?
Using PayPal on Bet365 is incredibly easy. For deposits, head to your account page and click the button labelled “Deposits.” Select the PayPal payment method and enter the details of your PayPal account. Enter an amount to deposit, and the funds will be taken from your PayPal account and added to your Bet365 account. For withdrawals, head back to your account page and click “Withdraw.” Select PayPal and enter the amount you wish to withdraw. Click the button to request a withdrawal; the money should be in your PayPal account within one working day.
Can you use PayPal on SkyBet?
SkyBet allows its players to use PayPal as a payment option for deposits and withdrawals. Select the PayPal payment method when depositing or withdrawing funds from your account and enter your details.
What is the best betting site that accepts PayPal?
Like so many leading online sportsbook operators accepting the PayPal payment method, it is challenging to choose the best one. An operator should give you the best odds, sports betting options, additional betting options, and good customer support on an objective level. Ultimately, it is mainly down to the individual deciding which online betting site that accepts PayPal is best suited to their personal preferences.
Can I use PayPal on Bovada?
Bovada allows its players to use PayPal for both withdrawing and depositing funds into their Bovada account. Head to your account page and select PayPal as your preferred payment option.