PayPal betting is quite popular nowadays. There is a high chance you have already heard of PayPal and you know that it is one of the most used payment methods worldwide.
Of course, if you don’t like using PayPal or can’t use it at all, you can still try your luck on this year’s popular platforms like the ones you’ll see in our Top. There you can use this or another payment method instead!
To make you more knowledgeable about PayPal, we have gathered up all of the information you may want to know. This payment method can be seen on plenty of betting websites out there, however, there are a few things you will want to know about it.
Continue reading to learn more about PayPal betting in 2022!
What is PayPal and What makes it so popular?
PayPal is one of the first e-wallets that have appeared out there and it is still one of the best ones too. Honestly, PayPal has always been the most popular payment method of all e-wallets, and the reason behind it is its security, convenience and, free account creation.
No one likes to spend a lot of time trying to make a deposit or withdraw their money, and this is where PayPal seems to be one of the best choices for many.
Unlike, with most payment methods out there, PayPal will never require its users to provide financial details in order to qualify. This is what makes PayPal an outstanding choice for casino players.
Another great thing about PayPal is the fact that it is usually offered by trustworthy and licensed online casinos. PayPal will not collaborate with untrustworthy companies due to their strict standards. PayPal has canceled the accounts of many organization accounts and its members if they noticed any sketchy and bad activities.
The history of PayPal
If you are wondering about how PayPal came into existence, it was back in 1998. and back then, it was not even named PayPal. Two entrepreneurs May Levchin and Peter Thiel created it and named it Confinity. They were focusing on effortless digital payments for businesses and consumers which in the future turned out to be an awesome decision.
Their idea was efficient and simple compared to many ideas that were floating around the world at the time. As soon as small businesses and online merchants noticed the huge impact PayPal could have, everyone, including customers signed up for it.
In just three years, PayPal managed to handle over 3 billion in payments and had 10.2 million individual users. Just two years after, the founders decided to rename it to PayPal and they made sure to focus only on payments made over the internet.
Today, PayPal is getting into the cryptocurrency market and focuses on the technology and improvements related to online payments.
Deposits and withdrawals using PayPal
Deposits and withdrawals using PayPal are some of the easiest payments to make when your account is set up. All you require is your PayPal account and a card/bank account linked to said account.
With that done, you can make instant transfers of money between your bank and any site of your choice. PayPal like many other e-wallets protects your information by acting as a middleman between you and the website you are using.
So how to make deposits and withdraw our winnings from betting websites using PayPal? If PayPal is accepted by the betting website of your choice, it will appear as an option when you attempt to make a deposit. If it does not appear as a payment method, try some of the best Indian alternatives at any of the casinos listed here.
Once you select PayPal, the website will open a login for their service where you enter your account details securely. The payment will be passed on and accepted, then PayPal will withdraw the money from your account, bank, or E-wallet.
Withdrawals work in the exact same way, you simply select PayPal as your choice and log in when prompted. Your payment will be processed and the money will be transferred into your E-wallet. You can then easily transfer the money from your account and into your bank.
Of course, while PayPal does seem like an amazing e-wallet and a payment method and is accepted in many casinos worldwide, we suggest you take a look at platforms in our list and make an account there. In them you can use some of the best PayPal alternatives that work better in India.
Everything written in this article is subject to change in the future, therefore, we must inform you that you should always double-check everything before you make deposits online.
We are not related to any of the payment methods mentioned in this article and all of the information we have provided you with originates from various internet sources.
Advantages and disadvantages of using PayPal
So now you know how to use PayPal, what are the main advantages and disadvantages of using it online to make your payments?
Advantages
- PayPal is a highly secure service with full encryption protecting all of your transfers and details. Additionally, all information you give to PayPal is never passed on through your payments.
- Easy to use both on the web and through their app, with deposits and transfers being instant as long as you have a payment method available. All you need to do is log in and make the payment.
- Accepted by most online services as a payment method. With the growing popularity of E-wallets, PayPal has stood out as one of the most widely used.
Disadvantages
- There can be additional charges when making payments, especially when making a payment with a different currency. Charges can vary as well depending on what you are paying for.
- Transfers from PayPal to your bank account are not always instant and your wallet may at times be frozen for a short period after sending money to it.
- PayPal has a very long verification process and some strict usage rules which can put off some users. Both for the time it takes to set up the account initially and also restrictions that are placed on its use.
The best PayPal alternatives for Indian gamblers
If you are from India, you probably know that PayPal is used in many countries worldwide, however, if you want to have flawless transactions when betting online, we suggest you check out some of the following PayPal alternatives that are a better choice for Indians.
Skrill
Supporting over 40 global currencies, Skrill goes beyond even Paypal and many of its competitors. Including using the Indian Rupee, it has made a name for itself in the Indian market as an excellent E-wallet.
Founded in 2001 as Moneybookers and since changing its name and brand to Skrill, it has been around for a long time. Offering excellent and secure service with some unique payment methods many of its competitors lack.
Simple and easy to sign up for, with the added choice of applying for a Skrill card in certain countries as well. You can make your payments quick and easy, only requiring a phone number or email to be entered before accepting the transaction through your app.
Neteller
Having been around since 2000, Neteller is another service that has had plenty of time to adapt to the market. Offering quick and easy cash transfers to any online sites and an E-wallet to store cash for later payments.
Like most of its competitors, sign-up is a simple process, requiring only the creation of an account and setting up payment details. After you are set up you can instantly make cash transfers around the world, anywhere you need.
However, Neteller does have some downsides, mainly their additional transfer fees which are higher than most of their competitors. It is also required that a recipient has a Neteller account if you are trying to send money to a friend or family.
Ecopayz
Very similar to Neteller and Skrill, ecoPayz is currently considered one of the biggest names in the Indian market. Even if EcoPayz exists since 2000. it is nowhere as known as Skrill or Paypal for example. This does not make it any less worthy though! If you are interested to try out some of the best PayPal alternatives in India, Ecopayz will certainly be a great choice.
The registration process for an EcoPayz account is very simple and straight forward, it takes just a couple of minutes.
To register a new Ecopayz account, you will need to use a registration link, enter your personal details such as email address, password and your name, and submit account details (currency, email address and an account ID). Go to our list and click on one of the casinos available for India, register at one of them and use Ecopayz as your preferred payment option.
Frequently Asked Questions (FAQS)
No, you are not allowed to use anyone’s account to make deposits and withdrawals. This is an illegal action and it will most likely result in account termination/ban.
Yes, you can easily use Rupees at foreign casinos or betting websites – if they are accepted as the currency of course.
Yes! Ecopayz has an awesome VIP program that features five different levels. Eco classic VIP is the lowest and most standard level, Eco silver VIP is the successfully verified level and Eco gold level is a credit card, identity, and address verification. Eco platinum is owning a MasterCard, having 50,000 euros in transfers, and being a gold VIP for 30 days. Eco VIP level is the latest VIP level and it is related to being Platinum for 30 days and having 250,000 euros in transfers.
PayPal is a secure and trustworthy payment method thanks to SSL (Secure Socket Layer) digital encryption for all of the money transfers. Whenever you decide to make a deposit or withdrawal through PayPal, you are guaranteed to be protected by PayPal’s SSL certificate.
The key moment in PayPal history was back in 2002. This is when PayPal became a default payment method on eBay, a global marketplace. For all of you wondering, in 2014. eBay split PayPal from their company though.
Conclusion
PayPal is a great choice for everyone who likes to do online shopping, however, when it comes to betting deposits and withdrawals, there are better Indian alternatives that will be a great choice.
In short, PayPal has been around for quite some time, but that doesn’t mean it’s the only secure e-wallet out there. If you go to the platforms we recommend, you can create an account and use some of the better payment methods for Indian gamblers today! These sites have been endorsed by gambling experts and watchdogs like the MGA.