Best PayPal Betting Sites for Esports
PayPal Betting Sites for Esports are common across the gambling sector as E-wallets are a popular payment method for sports bookmakers. PayPal is still the most widely accepted payment method, alongside credit and debit cards.
There are many reasons why using an e-wallet such as PayPal may be preferable to an esports punter, which we will go into below.
Here are our recommendations for using the best PayPal betting sites.
Using PayPal for Esports Betting
Funding the betting wallet has never been so streamlined thanks to the fantastic software developed at PayPal.
Punters betting today have instant access to their bank accounts through the credentials of your PayPal log in; the advantages of this are plentiful and revolutionary.
Not only is the service completely free to use, but it is the most widely accepted e-wallet service provider throughout the UK gambling industry.
Gone are the days of handing over card details to every online bookmaker you sign-up at; it is the future of online payments and we are excited to demonstrate in the visual guides below just how practical PayPal is for esports betting.
Using PayPal keeps your bank account activity separate to your PayPal activity. PayPal withdrawals generally are conducted within 1 to 2 hours, whilst bank transfers take 2-5 days.
Opening an Account with PayPal
This is an incredibly simple and fully optimised process. The first thing you want to do is have a look at our visual guide outlining the three stages to this process.
Then, load up the PayPal homepage and proceed with the sign-up process. This will only take a few minutes and requires your email and phone number to be confirmed, so make sure you have access to both before you get started.
Best Esports Bonuses
Here’s a list of our favourite esports games bonuses that should be on your bucket list
18+ only. New UK players. Welcome Bonus: New Players only, 1st Deposit, Min Deposit: £10, max £10 bonus, valid for 14 days, bets must be placed at odds of 1/1 or greater and be settled within 14 days of placement. System bets no eligible View full T&C
Depositing Using PayPal
As we have already mentioned, it is a hugely popular payment portal with all the best PayPal betting sites currently licensed within their licensed country or territory.
Load up one of our recommended top PayPal betting sites, or visit your favourite betting site to initiate the deposit process.
Here you can execute relatively large transactions straight from your bank card, via the payment system, into your betting wallet.
The only verification required for the whole process is the login credentials of your e-wallet account.
Withdrawing Winnings with PayPal
Withdrawing winnings through PayPal is possibly the quickest way to get funds out of the betting wallet.
All you require is access to the betting wallet and your bookmaker login credentials. The funds will be verified by the bookie, and then be transferred to your betting wallet.
Here you can either hold the funds in your e-wallet, or withdraw to your bank card, which should take no longer than two hours to appear in your bank statement.
The whole process is completely simplified and you will make only a handful of clicks whilst confirming the withdrawal.
There really is no easier, safer, or simpler method out there for transferring money to your bank account rapidly!
Deposits, Limits and Processing Time
Deposit and withdrawal limits seem to fall into two categories. Minimum limits are generally either £5 or £10 for both deposits and withdrawals, though Betfair offers up an anomaly here with a £1 minimum withdrawal amount.
Withdrawals at half of the bookmakers max out at around £5,000 or £8,000. With the other half, however, the maximum limits for both depositing and withdrawing are dependent on a user‘s PayPal limits, rather than at the bookie specifically.
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.
So, if you are betting with PayPal and want to make a large withdrawal, it’s very likely it would have to be made with the same payment option.
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, they can take less than an hour, although most PayPal betting sites promise within 24 hours.
The processing times are also a big attraction, especially among those who are general fans of e-wallets. The time frames each PayPal betting site 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. So, there’s not much to differentiate the operators when it comes down to it.
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 PayPal betting sites reviewed on this site, there are no charges on their end when it comes to payments.
How Secure are PayPal Betting Sites?
While PayPal’s ease of use and simplicity has helped it become so successful, it wouldn’t have achieved this success without being a secure and safe system.
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. When depositing at an online sportsbook, you’ll never have to share any financial information with them.
You can simply enter your login 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. You’ll know whether the protection is active through the address of the website.
Look out for HTTPS at the start of the address bar, which signals that data is being encrypted. Some of the betting sites 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.
It’s also obviously a good idea to keep your password safe. 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 login 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 login details. This should not be done at any time, so it’s important to know what to look out for.
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 PayPal’s customer support team, 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 PayPal can inform its users on what to look out for.
Fees with PayPal
While there are rarely charges on the bookie’s end for using PayPal, unfortunately, there are fees for sending and receiving money with your account in many instances.
This is the one area where PayPal loses out significantly to other popular payment methods, such as credit or debit card.
We’ve tried to break down the fees you’ll encounter as much as possible below. But there are also ways to minimise the amount paid on fees as well, which can help to make some considerable savings.
As you can see from the table above, how much you will pay depends on a few different criteria.
Fees can change depending on where you are located, where you are sending a payment to, and which currency you are sending.
Ultimately, it pays to transfer money using your PayPal balance or by using a bank account that is linked to your account.
This takes just a minute to do and is well worth it, since it can make payments free from added costs and also speeds up the process of making payments.
Pros and Cons of Paypal
Like with most things in life, there are both pros and cons to using PayPal. While it offers an excellent level of buyer and seller protection, PayPal is not a bank and, therefore, not subject to the same requirements when it comes to compensation or protecting its customers.
Many customers have also reported blockages or limitations placed on their accounts, which have restricted their ability to send or withdraw funds.
These often occur with a freeze placed on accounts, which will temporarily freeze all the funds in any account while an investigation is carried out. This can be a serious issue if you have a lot of money in your account that is suddenly frozen.
While these are, of course, part of the company’s policy and designed to protect customers and their money, there have been many occasions where accounts have been locked seemingly with little reason and for a fairly long duration of time.
UK customers may also be a little wary of the fact that the company is licensed in Luxembourg and has no specific UK licence, after previously being under the watch of the FSA in the UK.
Of course, there are alternatives to using PayPal. Many other leading e-wallets even have lower fees.
Our other recommendations would include cryptocurrencies and Skrill. There are many benefits to using Skrill compared to other e-wallets. Both sending and receiving money with Skrill is totally free.
Sending payments to another Skrill account does come with fees, but it is just 1% of the amount sent and the charge is capped at £10.
The only downsides are that, in some cases, transferring funds into your Skrill wallet may be subject to fees, as are withdrawals to a bank account.
These are very low, however, with most methods that are subject to charges being around 1%. Some popular methods, such as Maestro, are totally free.
Withdrawals are charged at a flat rate, which is £2.37 for withdrawals via Visa. In any case, the fees at Skrill are certainly lower, which is more than enough to attract millions to use its service.
Overview of PayPal
Founded in 1998, PayPal has been one of the most successful firms to come out of the internet boom period of the late 20th Century.
It was initially established as Confinity, a software company that developed security software for mobile devices.
The company existed initially as a money transfer service at Confinity, launched in 1999. Shortly after, in 2000, Confinity merged with an online banking company called X.com.
The new entity decided to focus on the money transfer aspect and renamed itself PayPal in 2001, expanding rapidly and becoming public in 2002.
Key to its success was its acquisition by eBay for $1.5bn in July 2002, shortly after going public.
By then, it was already the most popular payment option utilised on eBay and its use skyrocketed afterwards. It returned to being an independent company in 2015.
There are currently over 173 million active users in 203 markets and there are PayPal offices in the USA, Luxembourg, and Singapore. Regulation has always been an interesting area for the company, since its services are primarily electronic money transfer and not those of a bank.
Despite this, it was granted a Luxembourg banking licence in 2007, allowing it to conduct banking business in the European Union.
This means that in Luxembourg and Europe, it is regulated as a bank by the banking supervisory authority in Luxembourg, the Commission de Surveillance du Secteur Financier (CSSF).
In the UK, it was previously registered and licensed as an Electronic Money Issuer under the UK’s Financial Services Authority (FSA), but the Luxembourg license and regulation now applies to all the company’s European activity.
Since splitting from eBay in 2015, the company has continued to go from strength to strength.
Though there were some initial mixed reports on revenues immediately after the split, PayPal has since continued moving forward, acquiring numerous companies and startups to add to its roster and to help improve its overall service.