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PayPal Sportsbook Deposit
PayPal is a renowned electronic wallet that people for use for a wide range of online transactions. PayPal was founded back in 1998 and has since grown to a brand that is recognised internationally. If you are looking for a way to deposit to your new online sportsbook, then PayPal is a good option to consider.
PayPal has 188 million active customer accounts and is available in more than 202 countries. PayPal also allows online account holders to hold balances in 25 currencies, and withdraw money in over 56 different currencies.
PayPal is highly accessible for online punters. You can visit the website using a desktop, a laptop, or a mobile device. This is great if you like betting on sports using a phone, or if you are just always on the go.
Pros and Cons of Betting with PayPal
To help you figure out if betting with PayPal is the best choice for you, here are some pros and cons to consider.
1) PayPal is Convenient
PayPal is one of the most popular online payment portals in the entire world. The main reason why is because it is very convenient to use. As mentioned earlier, PayPal can be accessed using all types of electronic gadgets. All that you really need is an internet connection. So no matter where you are, you can easily request and confirm transactions with only a few clicks of a button.
2) PayPal is Secure
When you bet with PayPal, the upside is that you don’t have to type in your credit card details at the top online sportsbook sites. Instead, you use PayPal’s services to ensure that your card details are kept confidential when making transactions. So if you are not the kind of person who is comfortable with disclosing card details, PayPal is a good option.
Since PayPal is a brand trusted all around the world, you can expect that it takes a lot of measures to ensure your security and safety within its website. PayPal uses high-end encryption programs, card security code checks, address verification services, and up-to-date software to make sure your financial and personal details are kept confidential.
3) PayPal is Fast
Another positive feature of PayPal is that it processes payments really fast. Some online deposit methods like bank transfers and other electronic wallets will take several business days. But with PayPal, the deposits are made very quickly. This means that you can use PayPal even for live online sports bets.
When it comes to withdrawing money, PayPal takes an average of 2 to 4 businesses days. It’s not the fastest withdrawal, but it is also not the slowest.
4) PayPal has Fees
One major thing that throws people off when using any type of electronic wallet is that there are fees involved. Even though creating your PayPal account is free, you will be charged certain fees when you make transactions. Fees are especially common for online transactions that involve currency conversion. PayPal might even use a different currency conversion rate, making the transaction more expensive than if you had your cash converted in a money exchange.
How to Use PayPal for Sportsbook Deposits
Before depositing money to your online sportsbook, you first need to have a working PayPal account. creating an account at PayPal is very easy. Once you get on the website, you will immediately see the “Sign up now” button. After you click that, you will be asked to provide some personal details. Next, you will enter your credit card or bank account details. After PayPal has verified your information, you will have a fully functioning account.
To use PayPal for a football wager, go to your online sportsbook and look for the “Account” or “Cashier” page. You will see different options for deposits. Just look for “PayPal” and type in your account email address. After confirmation and verification, you can start betting on your favourite team or player and wait for the sporting event to unfold!
Should You Choose PayPal for Sportsbook Deposits?
PayPal is a great choice if you want to make fast deposits that don’t involve disclosing your credit card details to PayPal betting sites. Aside from making basketball or football bets online, you can also use PayPal for other online transactions. So if you find yourself making several online payments in a day or week, a PayPal account is a pretty convenient thing to have.
You should note that while some online sportsbooks will allow you to withdraw your sports bet winnings directly to your PayPal account, there are some sportsbooks that will only allow you to withdraw using a cheque. If you don’t like the extra hassle of having to wait for a cheque to receive your winnings, you might want to look for a sports betting site that specifically allows for PayPal deposits and withdrawals. You can also consider other online sportsbook withdrawal options.
To find online betting sites that accept PayPal, you can look at our list of sports betting site reviews. In our reviews, you will also find other useful information such as ongoing promotions and wagering requirements.