Nowadays, online casinos offer a wide range of payment methods to their customers. Players can choose from a whole spectrum of different options, from traditional ones like credit cards and bank transfers, to brand new forms of transactions like cryptocurrencies.
However, many online casino visitors agree that one of the best methods for depositing and withdrawing money from their accounts is via e-wallets.
Electronic wallets are specifically designed to make online transactions easy and convenient, and one of the most popular e-wallets today is PayPal. While PayPal might seem like an obvious option at first, there are still some downsides to it.
That’s why, in this article, we want to reflect on all the advantages and disadvantages of playing in a PayPal casino. Once you’re done the reading, you can decide whether this payment option is the right one for you.
Pro — PayPal Is Available in Some of the Best Online Casinos
Online casino operators want to give their players as many options as possible, both when it comes to gambling games and payment methods. Since PayPal is very popular and it belongs to the e-wallet category, you will see it as an available payment method on many top casino sites.
There’s an increasing number of PayPal users every year, meaning that more and more casinos are accepting players who prefer this payment option.
For example, ICE36 is a PayPal casino in which you will find plenty of rewarding bonuses and games from renowned software developers. The site claims that PayPal is one of their most frequently used payment systems, as it’s proven to be secure and easy to use.
Con — PayPal Is Not Legal Everywhere
The main issue with PayPal is that some countries consider it illegal, while others put it under strict regulations. In the United States specifically, you can almost always expect that your payment will not be accepted if it’s coming from some countries and areas that are considered high-risk. Some of those include certain parts of Africa, Eastern Europe, and the Middle East.
These regulations have made a lot of casino operators turn their heads from PayPal, which is why some don’t offer it as an option at all. Always check your country’s laws to be sure you can use PayPal from your current location.
Pro — PayPal Is Super Easy to Set up
Let’s say that you can’t wait to try a new game in an online casino such as Mega Casino UK. Once you register on the website, you will be asked to choose a preferred payment method. Bank transfers and checks take a lot of time, while cryptocurrencies are a bit too complicated for some people.
The easiest and fastest way would be to set up a PayPal account. You only need an active email address and you will be able to connect your PayPal account to your bank account in minutes. Transfer some money to your newly created e-wallet and deposit the desired amount on the casino site.
Con — Transaction Fees
Using PayPal is great in many ways, but note that you can encounter some fees whenever you receive money and try to withdraw it to your bank account. The fees usually include a fixed cost in addition to a certain percentage of the total amount. These transaction costs can take a significant chunk of your winnings, and that’s one of the prime reasons why some players prefer other methods.
You have to decide whether convenience and safety overshadow these costs or if you are better off with some other payment methods.
Pro — Safety and Speed
PayPal is considered to be one of the safest online payment options around. Players can enjoy depositing and withdrawing through PayPal without worrying whether their money will reach its destination.
Of course, to feel completely safe, you must check the online casino itself, as there are plenty of fraudulent websites out there.
Another big advantage of PayPal is the speed of transactions. Deposits go through almost momentarily on most sites, so you can enjoy playing your favorite casino games in no time. Withdrawals can take a few business days, but that’s standard for other popular methods as well. Yes, there are some payment methods that allow even faster transaction times, but PayPal is still pretty high on that list.