Discover which gambling firms accept PayPal as payment method in the UK and take a look at our list of PayPal betting sites. Learn more about pros and cons, also why it is one of the most secure deposit and withdrawal options for punters.
Sports betting has been and always will be a number’s game. Picking the best odds, the best bookmakers with the smallest fees and having an overall positive margin are all things which will affect your betting record. Simply put, in order to have success in this business as a client, you must make sure you win money from as many sources as possible.
Sure, you can become a millionaire by going to the nearest betting shop, drafting a 22-fold accumulator and betting 5 pounds on it, and having the luck to actually win – but that’s playing the lottery, not sports betting. If you want to develop a disciplined betting record, you have to pay attention to lots of different things – and the way you handle your money is one of them.
PayPal Betting Sites In The UK
Most of the online betting sites in the UK accept Paypal with no issues. Some of them even have special promotions for customers opting to deposit money via Paypal, which come in the form of free bets or other betting offers.
It is worth mentioning that most UK betting sites only accept deposits from a Paypal account which belongs to the same person as the betting account does. In translation, you can’t use a friend’s Paypal account to deposit money into your betting account, although you might be able to use his credit card to do so.
Furthermore, most bookmakers only allow money to be withdrawn to a Paypal account AFTER a first deposit was made using this method. Thus, if you’ve only used credit cards or other deposit methods so far, you can’t withdraw the money to a newly-created Paypal account.
Although all UK brokers can safely use Paypal and allow their customers to do so as well, there are countries where E-Wallets are not permitted in the betting industry – like the U.S.
PayPal As A Payment Solution
Gone are the days where the only method of placing money on sports events was a physical shop. Nowadays, lots of the betting industry has moved either online or on smartphones. Ease of access, openness to new selections and technology and high response times and just a few factors which have moved the vast majority of betting enthusiasts from the offline to the online worlds.
Apart from these well-known elements, another one has emerged recently: the large number of money management possibilities. In this quick – paced world, everyone wants their deposits and withdraws to be secure, quick and painless. From the multitude of deposit methods, bettors tend to select those which ensure the most rapid responses with the lowest fees. Credit cards were the best option for quite some time until the emergence of the modern payment system: the E-wallet.
E-wallets have only recently appeared if we think about the history of the betting industry. Furthermore, lots of bookmakers haven’t allowed business to be run using E-wallets in the beginning, with their numbers growing steadily year after year. Even in the present, there are lots of brokers who don’t accept lesser-known E-wallet providers, but nearly all accept the big ones.
The most famous e-payment solution is, without a doubt, Paypal – now widely accepted among merchants from all parts of the world. You can’t call yourself a serious broker in the betting industry if your website or betting app doesn’t allow its users to deposit or withdraw money using their Paypal account. Of course, the solution is now widely-used, but is it perfect?
Why Use PayPal: Pros And Cons
Since we have yet to witness perfection in any domain, Paypal isn’t perfect either – but it surely has its good points:
First of all, setting up an account is very easy. All you need is a valid e-mail address, a few minute of your day, and a debit/credit card to link to your newly created Paypal account. From then on, you can use your e-wallet to send and receive money online, without entering valuable private information (such as your name, address, date of birth, or credit card info) in any other place than your Paypal account. This makes your information very safe against any kind of unethical hacking.
Second, most online businesses not only accept Paypal but encourage it. Lots of bookmakers from the betting world have special bonuses and offers for clients using Paypal. Furthermore, deposits using Paypal are instant with most bookmakers and withdraws rarely take more than 24 hours. In fact, most brokers guarantee that a withdraw request will only take 48 hours at most.
Third, a Paypal account is a great way to quickly make use of your betting winnings. It’s effortless to move money from your betting account with your favorite broker to your Paypal e-wallet, and then use if for shopping. This entire process takes much less time than a standard credit card withdraws, and is also much cheaper (most of the time).
Fees & Customer Support
Of course, using Paypal doesn’t only have benefits. The biggest drawback of the E-wallet is that it does charge a 2,9% fee for each deposit you make into the account, although no other fees are involved when depositing money from your Paypal account into your betting account. This small fee has to be compared with fees you might suffer when using a credit or debit card – to figure out which solution would be best, at least from an economic standpoint.
Paypal customer support can also be a pain sometimes, with communication not being extremely straightforward. We’ve had a read about a few stories in the past involving Paypal on the internet, and although there are lots of happy customer, we’ve always been careful how much we rely on Paypal.
To sum up, Paypal (as well as other e-wallets) have moved from being fringe, niche-like money management solutions in the betting industry to full-fledged stars. They have all become staples in the betting industry, used by millions of people every day. Paypal has its share of good things and bad things, and at the end of the day, each betting client has to choose their preferred money management solution. We’ve reviewed Paypal and reached a simple conclusion: it’s easy to use, flexible and modern.