There really is no easier, safer or simpler method out there for transferring money to your bank account rapidly! With the new age of mobile betting, comes a refined payment process. Luckily for PayPal betting customers, the mobile API is the best in the world for fully integrated mobile payments at online bookmakers.
Simply load up the mobile application of your chosen operator and initiate a deposit in the normal way, you will be re-directed to the mobile payment protocol for PayPal giving you the opportunity to make instant payments. Deposit and withdrawal limits seem to fall into two categories.
There are strict Know Your Customer KYC steps taken by both the e-Wallet and online sportsbooks these days, as part of money laundering prevention efforts. Just what limits will be allowed with these betting sites will be subject to different criteria.
For this reason, usually you will have to withdraw with the same method as you deposited with, when withdrawing an amount outside of definitive limits set by an operator. Another great thing about PayPal payments is that they are instantly deposited into your online sportsbook account so you can make bets even faster.
Withdrawal times are a little longer though. At their quickest, with Paddy Power, they can take just 4 hours, although most bookies promise within 24 hours, such as at Betfair, William Hill and Coral. The longest times stated are at BetVictor and Sport, where withdrawals could take up to three business days. The processing times are also a big attraction, especially among those who are general fans of e-Wallets.
The time frames each bookie gives are a range to cover them in the event of an unusually long processing time taking place and in reality most withdrawals will be completed within 24 hours.
Another great thing about the popularity of PayPal is that the associated fees are handled by the operators, rather than being passed onto the punter. This is because the sports betting sites know the value of offering it as a payment option and so absolve the charges themselves, rather than choosing to not have it at all or to pass the fees onto punters.
With the bookmakers reviewed on this site, there are no charges on their end when it comes to payments. Security then, is another aspect that has drawn many to become regular users of the payment system. The very process of paying via this payment method gives users peace of mind. You can simply enter your log in details to confirm the transaction. The beauty is that this process is both simple and safe, but there are a few things to pay attention to.
Firstly, you should always ensure that the website you are on is protected. Some of the sportsbooks encrypt all data on the site, while with others encryption protection kicks in when personal data is being sent or received, such as when making a deposit or withdrawal or when making bets. Passwords should typically be around 10 characters long and have a mix of numbers as well as upper and lower case letters. Make sure that you are on an encrypted site whenever entering your log-in details and be sure not to share your password with anyone.
There is of course lots more relevant information when it comes to security, especially around keeping your details and information safe from phishing attempts. These usually come in the form of rogue emails asking you to divulge your log in details. The PayPal help page has lots of information about how to spot phishing attempts and what you can do to prevent them. You can also report any emails you believe to be phishing emails directly to them who will investigate the issue and attempt to quickly shut down those responsible.
This also helps to keep the company updated about current phishing attempts so it can inform its users on what to look out for. In order to guarantee the highest level of security for their customers, they require you to verify your bank card before you have free access to making payments. In order to do this visit the website and log into your account. When you see this transaction appear on your bank statement, enter the four-digit code attached to the transaction in the PayPal complete the confirmation of your bank card.
This is the one area where PayPal loses out significantly to other popular payment methods, such as credit or debit card. Elsewhere, PayPal is regulated as a bank by the banking supervisory authority of Luxembourg, the Commission de Surveillance du Secteur Financier. Meanwhile, having ended their deal with eBay in , PayPal have only gone from strength to strength, with the company having acquired a range of companies along the way, adding to their levels of operation across a variety of markets.
Users are now able to process transactions without any worries, whether it be depositing at an online bookmaker or any other marketplace. Using PayPal with your online betting platform ensures that you will never be required to share any of your banking details with them, with just your log in details required to process transactions thanks to PayPal.
While you can be sure that PayPal is completely secure, it is also important to ensure that the website in which you are operation operates in a similar manner. This can be achieved by looking out for an HTPPS at the start of the address bar, which means that all data is encrypted. All bookmakers operate differently when it comes to this issue, with come encrypting all data on their platform, while others ensure that encryption begins when personal data is being both sent and received, including when making deposits or withdrawals.
As with any such operation, you should ensure that your PayPal username and password are kept secure, as well as making sure that you are encrypted when entering such information. PayPal offer a help page surrounding this exact issue, including how to spot fraudulent attempts, as well as how to prevent them in the future. Elsewhere using PayPal, you can report any emails in which you believe to be phishing directly to the company. Despite PayPal not charging any form of fee when it comes to bookmakers, there are costings involved in sending and receiving money using your account.
This is one area of the PayPal operation in which they perhaps score poorly, especially when compared to some major credit and debit cards. There are certainly methods that can be used in order to minimise the amount in which you are charged for processing such transactions, with fees depending on your location, currency of choice and the destination of your money. However, in the end, it is certainly worthwhile transferring your money using your PayPal account balance or a debit card that is linked to your account.
With transactions taking just a matter of minutes normally, with payments free from additional costs, the whole process is easier than ever before. Undoubtedly, there are both advantages and disadvantages of using PayPal as a banking method when betting online. Despite this, PayPal can still be considered as a viable option for many, with their excellent level of buying and selling options.
Usually you will not be able to withdraw to PayPal if you have not made your deposit using this method. This does take a few days however as PayPal will need to verify that your address and bank account belong to you. They will do this by sending you a code in the post and also by transferring a nominal amount into your account with a specific reference code to be entered online. Once your account is set up you can load it with funds from which you can deposit into your betting account and play with as normal.
Although initial set up may take a week or so it is worth it. As soon as you have your bank account linked to your PayPal digital eWallet you will be able to manage all of your online betting easily from one place.
It is also convenient for when your bank card expires, in this case you only need enter the new details once into PayPal rather than changing your card on each site it is used on.
You can also have several of your own cards and bank accounts linked to the one PayPal account giving you more flexibility in funding options. Some leading betting sites now offer PayPal quick registration indicated in the table at the top of this page.
Coral and Ladbrokes were one of the first to bring this in. This allows you to register with sites using your existing PayPal credentials. You are in essence giving PayPal the authorisation to share your name, address, date of birth, etc. The main benefit of this is you can register in quite literally a matter of seconds while at the same time have you deposit method already set up. This also has the added bonus that you only need to fill in your details once, with PayPal.
PayPal and its precursor Confinity were developed at the end of the last century as a new way to transfer money however it was through its association with eBay that the company really took off. In a new era for online commerce eBay offered a pioneering way to buy and sell goods quickly and people wanted payment mechanisms to match this.
PayPal quickly went on to become the default payment choice on eBay but remained an independent business allowing it to be used with other online providers. Over the next few years PayPal grew enormously and by had over million active users.
Today PayPal claim over million users, operating in over countries and in 25 different currencies. PayPal spun off off from eBay as a separate entity in One of PayPal's founders was Elon Musk, who famously went on to launch his own private space rocket venture, Space X, with ambitions to send the first humans to Mars no less. For a more detailed history of PayPal along with key facts and contact information see out PayPal casino page.
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