Home to over 200 million customers, in over 200 countries, and in 25 different currencies, PayPal is the most widely used online payment system in the world
Where can you use PayPal
PayPal is an American company founded back in 1998 under the name of Confinity before they quickly merged with Elon Musk’s X.com a couple of months later. In 2001 the name PayPal was devised, and a year later PayPal was purchased by eBay for a mammoth $1.5bn.
Ever since that moment, PayPal has established itself as the most popular e-wallet solution in the world, and has been used by the majority of eBay users ever since 2002 fighting off competition from Google Checkout, Yahoo’s PayDirect, Western Union’s BidPay, and Citibank’s c2it, all of which have closed in subsequent years.
One of the reasons for PayPal’s success is that they have always charged a nominal fee to use their e-wallet, and even now they still charge less than the likes of Neteller and Skrill. It’s also incredibly easy to set up an account and to link that account with your bank and/or card.
The fact that PayPal have been linked with eBay for over 15 years also helps their cause giving them not only credibility, but a huge userbase and almost anyone who’s used eBay in the past will have a PayPal account.
The minimum deposit using PayPal is typically between $10-$25, and withdrawals can be rapid sometimes taking just a matter of minutes to process. It’s also worth noting that some casinos have exclusive bonuses for when you deposit using PayPal.
When it comes to gambling, PayPal are very particular about who they choose to partner up with. From 2003 to 2014, PayPal totally distanced itself from the gambling industry, and it wasn’t until September 2015 that they got back into the business. PayPal have a very respectable brand to uphold, and therefore don’t choose their partners lightly, on PayPal’s website their wording states:
“To be approved by PayPal, merchants must demonstrate to PayPal’s satisfaction that they have the ability to block gambling activities for account holders in the U.S. and any jurisdiction where gambling activities may be illegal.
“Unless the merchant has been approved by PayPal, account holders may not use PayPal to send or receive payments for any form of gambling activities, including but not limited to payments for wagers, gambling debts, and gambling winnings, whether conducted online, in person, or through any other means of communication.”
Anyone is able to set up a PayPal account, and from here you are able to transfer money from your bank account straight into your gambling wallet with PayPal acting as the intermediary.