If you’re looking for an online betting site with an easy-to-use method to deposit and withdraw your money, you might be interested in checking out PayPal betting sites. Betting sites that work with PayPal have already done the heavy lifting and set up an easy-to-use, fast way for you to fund your betting account and withdraw your winnings.
You’ll see in our list below some of the best PayPal betting sites offering a trusted, top-notch experience. All you have to do to get started today is check out a few of these sites, find the one that fits best for you, and start trying to rack up a win!
The Advantages of PayPal Betting Sites
Before we get into how PayPal betting sites work and a few other things you need to know, we want to cover the advantages of using one of these sites. Below, you’ll find a list of the three biggest perks of choosing to bet with a PayPal betting site. These are not all of the perks, but certainly, they’re the three biggest that we wanted to make sure to point out. It doesn’t matter to us what type of betting site you use, as long as you use the best one that works for you. That being said, you’ll probably see that PayPal betting sites are probably going to be a good fit for a lot of you.
Privacy of Your Banking Information
PayPal is a massive international company that is trusted by pretty much every business in the world. With a market cap of over $50 billion, they’re certainly not some fly-by-night processor that you have to worry about. We share all of that information to point out that you can trust your banking information with them.
Now, we have a lot of trust with the online betting sites that we recommend, but you may have never heard of them and might be a little skeptical about giving them your banking information. You might not be ready to just surrender your trust and your information. This is where PayPal comes in.
Most people that use PayPal (179 million users) choose it so that they don’t have to use their banking information with any other online sites. Instead, they use PayPal as a middleman to do all of their transactions. As you’ll see when we discuss how PayPal deposits work, they take the money from your credit card, debit card, or bank account, and then they complete the transaction with their own banking information. So, no matter how many sites or companies you use PayPal with to make purchases or deposits, you never have to share your banking information with any of them.
This helps to keep your personal banking information or card information safe.
Easy Method to Withdraw
Not only is PayPal great for getting your money onto an online betting site, but it’s also a great way for you to withdraw your winnings. Typically, if you use PayPal to deposit onto a site, they will then allow you to use it to withdraw your funds. The only reason they require at least one-lifetime deposit is to make sure that when they withdraw the money, it goes to the right account. So, you can make a $5 deposit on PayPal, and then withdraw as much money as you want for the remainder of the life of your account.
Usually, there are no or low fees associated with this withdrawal method (depending on the site you choose to bet with). The cash-out wait period is typically only a few days at the most from the time of your request to become available in your account. Some sites can even get these cash-outs done in less than 24 hours!
Fewer Headaches and Bank Issues
If you’ve ever tried to make a deposit into an online betting site before, you know that sometimes there can be issues. Specifically, you’ll run into one of two problems. One, the method you are using is confusing or not well laid out and can be more headache than it’s actually worth. Or two, if you’re using a mainstream option like a credit card deposit, you may run into problems with your bank declining the charge because they think it’s fraudulent. Usually, you can work around this, but it requires you to call your bank and work with them to get the transaction through. With PayPal, though, there are usually no issues with any bank as it is such a major reputable business.
How Does a PayPal Deposit and Withdrawal Work?
Some of you may have never used PayPal before, which could make this option seem a little bit intimidating. But, never fear – we’re going to walk you through exactly how it all works. There’s a reason that over 179 million people choose to use PayPal.
Normally, when you make an online purchase (a deposit is the same as a purchase), you have to give your payment information to the site you are making the purchase with. This could be your banking information, your debit card number, or your credit card number. The site then takes their money and puts the funds in your account or sends you the product you are purchasing.
If you end up making a purchase with 10 different sites, 10 different companies now have your information in their systems. If you make 100 purchases, 100 different companies have your information in your systems. This is not a big deal unless one of these sites gets hacked and their information becomes comprised. Obviously, if you have your information with more sites, you’re more likely to be a victim of a mass hacking, which happens far too often at all different types of online businesses these days.
During this process, the only company that sees your banking information is PayPal. Technically, you make a purchase/deposit with PayPal first, and then they go and make a secondary purchase/deposit on your behalf using their own banking information. This means that the site you are buying from will only see PayPal’s information. That means if that site is ever hacked, the only company that needs to worry about their information being compromised is PayPal. You are completely protected and insulated.
So, even if you make 1000 different purchases online using PayPal, only one company sees your banking information. And that company has 179 million users, more than a 50 billion dollar market cap, and some of the best security possible. You only have to give your information to one major company that you can trust.
We’re not saying that online betting sites are more susceptible to getting hacked, but why not take advantage of the added layer of security just in case? In fact, you should probably be using PayPal or a site like it with all of your transactions online.
When you’re making a withdrawal with your PayPal account, you’re equally as insulated. Just as there were two transactions with a deposit (you pay PayPal, and then they pay the betting site), there are two transactions when you make a withdrawal. PayPal will provide their banking information when you request a withdrawal, and the betting site will send your money to PayPal’s main account. Then, PayPal will make a second transaction, transferring your money from their main account into your personal PayPal account.
Now, if you’ve never used PayPal before, the next obvious question is how do you use your money? Well, you have two options.
Things You Need to Know
Before we send you out on your own, we wanted to point out a few additional important things that you need to know about PayPal betting sites. We want to make sure that we answer as many of the most popular questions and topics of discussions surrounding these types of sites.
Be Aware of Potential Limits
One thing that you’re going to run into when using a PayPal betting site is limits on how much you can deposit. Typically, these limits are going to be high enough for most, but if you’re a big player, you may have a few issues you have to work around. The limits are all over the place depending on where you are betting, with the low end being a couple hundred and the high end being well into the multiple thousands.
Time Frames for Deposits and Withdrawals
PayPal deposits are usually instant after you click to make the deposit from the site. But keep in mind that you will need to set up your PayPal account if you don’t already have one. It doesn’t take too long, but you will need to link a bank account or credit/debit card to your account which will take a few minutes.
Regarding PayPal withdrawals, they usually process within a few days at the max. The reason they aren’t instant is that once you request the withdrawal, the betting site has to process the withdrawal, and then it has to go through its “two transactions” before it finally gets to your account. How quick the betting site is at getting to your withdrawal request will determine how quickly you get your money.
Are There Any Fees?
What we normally see at PayPal betting sites are no fees on deposits or withdrawals. Rarely, we will see a small fee on withdrawals, but never have we seen one on a deposit. The fees that PayPal charges to make their money on your deposit are always absorbed and paid by the betting site.
Safety and Security
We touched on this during the benefits section of our guide, but we wanted to drive it home a little further. Online betting sites aren’t any more dangerous than other online sites in other industries. In fact, the reputable sites are typically a lot safer than the other online merchants you might use because they spend a lot extra to keep your information and money safe. They usually have to have the same level of protective measures as a bank, which means you can expect great security. Remember, this is only with reputable online betting sites, though.
All that being said, you still should be looking to do everything you can to make your online betting experience as safe as possible. When you use PayPal to fund your account and withdraw your winnings, you’re going the extra mile to make sure your information is safe. You never have to share any of your personal banking information with any of the online betting sites you use. That means that if they ever somehow get hacked or have a data breach, you’re not going to be at risk.
So, if your question is whether or not PayPal betting sites are safe, they are as long as you are using a reputable site.
If you’re looking to get into the betting action and want a safer experience, you’re probably going to be a fan of PayPal betting sites. These sites offer you a quick way to load money online and a quick and headache-free way to get your winnings off. To get started, just select one of the PayPal betting sites we’ve recommended at the top of the page, and get yourself into the action today!