It has not always been possible to play online with PayPal, which makes PayPal casinos and PayPal sports betting myths and legends (not to mention scams). However, times have changed and PayPal is now one of the most used deposit and withdrawal options in most of the major online betting sites. But what caused this change, how did PayPal grow and why is this web wallet so popular among online players around the world? See the main online betting sites that accept PayPal below:
PayPal and Online Betting: The Story
Online bets with PayPal were not always possible. In fact, at first, they were restricted and anyone caught breaking those restrictions could be banned from using the service. These problems stemmed from the fact that PayPal is based in the USA. They have never looked very carefully at online gambling. There was also concern that PayPal betting sites and PayPal players were using the money-laundering service. This changed when services like Skrill and Neteller began allowing payments for online gambling. They saw a gap in the market and exploited it to the fullest. They made a great deal of money thanks to the gaming industry and were able to compete with PayPal in terms of size, wealth and scope.
At that time, PayPal decided that a change was needed. They removed those restrictions and began allowing online gambling sites to use their service as a deposit and withdrawal method. Once this happened, PayPal separated from the others once more and became the financial giant it is today.
There are a number of positive aspects to betting with PayPal.
The first one is to be able to use PayPal as a bankroll. This is important for professional players who play in most casinos with real money, and for those struggling with gambling addiction. Simply put, it allows them to use their PayPal account to manage their profits and losses, which limits any obligation they have to add more money when they are on a losing streak and allows them to keep track of every penny that goes in and out.
This is not only beneficial for a site or a platform but also useful for all online gaming sites and activities. For example, you can make a single transfer from your bank to your PayPal account and then use this to bet on a single online betting site. If they win, then they can move money to another site, and another, and another. They can even use their winners to buy gifts, clothes, food and more.
Why Bet Online with PayPal: Pros and Cons
Bankroll: As mentioned earlier, PayPal is a great tool for financing.
Security: If you are worried about using your card details on new sites, simply use PayPal. Do not fear for safety here.
Speed: A debt card and a credit card can take 5 days to process a withdrawal, just like many other payment methods, but PayPal withdrawals can be processed in minutes.