Paypal Casinos

The advantages and disadvantages of using PayPal casinos

If you often visit online casinos, you’ll find most of them will accept credit and debit card payments from all the major names, like Visa and Mastercard. However, some of the best online casinos offer a wider choice of payment methods, such as using PayPal, which more players are now opting to use.

But what are the advantages and disadvantages of using PayPal to make deposits and withdrawals?

The pros of UK PayPal casinos

There are a number of reasons why PayPal is a good choice for making cash transactions to and from your player account. These range from ease of use, to being confident about the security in place.   

Fast, easy deposits

The convenience of PayPal is a major plus. The only information you are required to provide to process a deposit with your casino is your username and password. Compare this to paying by card, where you usually have to enter your 16-digit number, select the type of card being used, the start and expiry dates, and the 3-digit security code, and you can instantly see the difference. Therefore, depositing money using PayPal is far more straightforward than using a bank card.

Quick withdrawals

When you want to cash out, the withdrawals with PayPal tend to be processed much quicker than using other methods. Every UK casino will be required to verify your identity before you make a withdrawal for the first time, which can take up to 48 hours to complete, and after that it can still take a number of days for credit/debit card transactions to be processed. Factor in weekends and bank holidays and it can take even longer. The PayPal system is faster, and many operators will credit winnings instantly.

Safety and security 

Casinos that are licenced and regulated under the UK Gambling Commission use sophisticated security to protect your banking information, but there is an extra level of security that comes with using PayPal. The e-wallet has become one of the safest ways to make payments online, so when you deposit at an online casino using PayPal, you are not asked to disclose any sensitive financial data. You simply provide your username and password to complete the transaction.

Remain private and anonymous

Using PayPal offers an element of anonymity as no transactions with online casinos are displayed on your banking statements. As banks use your account history to assess your eligibility for loans and mortgages, you can avoid any potential black marks against your name.

Enjoy PayPal bonuses 

As well as the many welcome bonuses on offer from online casinos, some of them provide special deals for using PayPal. These offers can be great value for money, giving your account a boost and allowing you to play your favourite games for longer.

The negatives of PayPal casinos

Although there are many great advantages for using PayPal at casinos, there is one big drawback – not all operators accept this method of payment. This can limit the choice of where you can play, but see this as an advantage. PayPal only authorises a company to use their payment method when they are proven to be 100% safe, secure, reliable and responsible.

Of course it doesn’t mean that casinos who don’t accept PayPal are unsafe, it just means you can have peace of mind that you’re playing at one that is authorised to use the payment method, so has gone through some stringent tests.

PayPal also take a transaction or admin fee for processing your withdrawals. This is a percentage of what you want to withdraw, so bear this in mind if cashing out small and large amounts.

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