PayPal was created in 2000 and purchased by the owners of eBay in 2002. PayPal is an e-wallet solution which is a payment processor that allows you to make payments and transfers online. If you have a PayPal account, you can put funds in using a debit or credit card — it’s very safe and a very secure way to pay for stuff online whilst never revealing your financial details.
PayPal is very easy and practical to use — hence why over 230 million people have a PayPal account. However, only 5 of our 7 top rated online casinos offer PayPal. This is because PayPal’s owners (eBay) are quiet strict with online casino operators — they won’t work with the newer operators (such as Jackpot City and Mr Green) in the beginning.
PayPal is predominantly popular in the Canada, UK and the United States of America — if you look at the online casinos above that offer PayPal, they are operators that have been operating in the Canada and UK for a long time.
PayPal has many reasons why you should use it — for example, you can use it on sites such as eBay, Boots and popular shopping website ASOS.com. You can also use PayPal to buy airline tickets with British Airways too. PayPal is widely accepted (with over 300 merchants) so if you do use it, it will come in handy.
Secondly, and most importantly, if you use PayPal, you won’t need to disclose your banking details to anyone. You just register at PayPal account, enter your payment details there and then can use your PayPal details to deposit and withdraw funds. This means you will only need to disclose your details to PayPal (just the once). Furthermore, if you change your debit or credit card details, you will only need to login to your PayPal account and update there (i.e. not update at all the online casinos you play at).
In terms of security, PayPal is as secure as they come — they use Secure Sockets Layer 3.0 (SSL) or higher and encrypt a key length of 168 bits (the best you can get basically). Your details are not available online either (stored in secure server locations) and they keep a full history of your transactions. You are also informed (via email) of every transaction that is made using your PayPal account. This should give you peace of mind.
All the online casinos listed above don’t charge fees for withdrawals using PayPal — however, once you have the funds in your PayPal account, sending them to your personal bank account has fees associated. This is £5.00 a transfer which is reasonable. Using PayPal at bet365 Casino or Paddy Power Games is recommended as they process cashouts within 24 hours and charges no fees either way.