Using PayPal to deposit on Online Casinos & Betting Sites in India
PayPal is an e-wallet service that has been in operation across the globe for over a decade. In other words, PayPal is a popular digital financial service that uses a secure internet connection for monetary transaction. PayPal is one of the most efficient digital alternatives to offline payment methods such as cash, checks, and money orders. Being a trustworthy service, PayPal is a popular choice among users of online casinos in India
PayPal for Online Casinos
PayPal is one of the most user-friendly e-wallets that is preferred for online casino transactions due to its simple process. As of now, it is the largest e-wallet in the world not only due to its popularity but also because of the high volume of transaction.
There are several reasons why PayPal is a common choice for online gamblers. First, it is a safe and well-known digital monetary transaction service. Second, it has a very straightforward approach to using. Third, it is a quick and accessible method that is ideal for anyone who takes part in online gambling. Not to mention, PayPal can be used as a bankroll toolset aside specifically for keeping funds related to gambling.
Over the years, PayPal has become a trusty depositing method and used by several leading online gambling platforms. It works like an independent checking account for online users where making payments is completely free. To start using PayPal for online casino, all a user needs to do is deposit money into their PayPal account using online banking or credit card.
PayPal offers different options for fund deposit method. If you are worried about your sensitive credit card information, you can simply link it to your PayPal account. This way your card information remains secured with only one site. Besides, it will allow PayPal to automatically withdraw money from any online casino sites linked to the account.
You also have a choice to link your existing account with the casino sites or create a separate account for the sole purpose of casino transactions. To put it differently, an account dedicated to casino transactions will help you keep a track of your winnings as well as the money being spent.
Deposit and Withdrawal Options in PayPal for Casinos
PayPal has gradually become one of the most trustworthy digital payment services across the world. This made most online casinos in India and other countries accept it as a regular payment method for depositing and withdrawing money. Moreover, many casinos partnered up with PayPal making transactions through a PayPal account much easier and faster.
Making a Deposit in PayPal
Making a deposit in PayPal is a very straightforward process that can be done using any device connected to the internet. The exact process of depositing will vary slightly from casino to casino, but the steps mentioned below are what you should expect when using PayPal at online gambling sites.
- Keep funds ready in your PayPal account.
- Select PayPal as a payment method while checking out.
- Deposit the amount as per your requirement while maintaining the minimum balance required.
- When using an e-wallet like PayPal, your money will appear in your casino account immediately.
- Now you can use the money deposited from your account along with any bonus if available.
Withdrawing from a Casino PayPal Account
You can follow the steps below to withdraw your winnings from the casino account easily via PayPal.
- You can withdraw your winnings once it’s verified that you are eligible to cash out. Make sure of clearing all wagering requirements before withdrawing. Submit your identity documents if asked for. Now you can head to the Cashier Section and claim your money.
- Next, select the amount you want to withdraw. The number should be within the minimum and maximum amount that can be withdrawn on a single time.
- Keep a note of processing details including processing time for both the casino and the time to clear through PayPal.
- When your money appears in your PayPal account, you have the option of withdrawing it to your bank account or using it directly from PayPal.
Benefits of Using PayPal
Using PayPal for general online transactions has many advantages. For now, let’s have a look at the major benefits of choosing PayPal for online gambling.
A Fast Method
It can be frustrating when you are trying to play multiple rounds of a game but need to wait until your payment is deposited to the casino’s account. Unlike other payment methods, PayPal is an instant process. Using PayPal is one of the quickest ways for payment as it starts working instantly the moment you signup or sign-in to your account. Withdrawing from PayPal is an equally quick process. You can expect your winnings to be transferred within a day although it may vary from casino to casino.
Trustworthy and Secure
Running since 1999, PayPal has earned a credible place in the market. To retain credibility as the most trusted digital payment service, PayPal has put strict rules in place. They are extremely careful about who they let use their system. Any online casino with PayPal integrated as a payment method can already be trusted as they are bound to comply with the laws in their respective jurisdictions.
If you are worried about how safe your money is with an e-wallet, you should know that PayPal uses SSL or Secured Socket Layer digital encryption for every transaction. Your money is secure from both the ends of the casino and PayPal’s SSL certificate. Moreover, each time there is a transaction, PayPal sends an email notification to you. This creates an additional safety layer that allows you to keep a track of PayPal activities and spot any discrepancy immediately.
PayPal is an e-wallet where you can join for free of cost. It is one of the cheaper alternatives to many other payment methods. Most casino sites do not charge fees to cash out via PayPal. A transaction fee is usually charged when you receive payment.
Drawbacks of Using PayPal
There are almost no major drawbacks of using PayPal for online casinos. However, if we look closely, there are a few minor disadvantages that PayPal poses for their users.
How Well are the Casinos Vetted?
While PayPal is meant to vet each casino that integrates it as their payment method, we don’t know to what degree it is done. The question remains that even if the casinos abide by the local laws, does it mean they are a legit business and will play fair games with you? In other words, a legal casino can still be an average business even if they use PayPal.
They are a Middleman
One of the disadvantages of using this wallet is that they are a middleman. Every time you want to make a deposit, you must transfer the money to PayPal via your bank account which then gets deposited to the casino site. The whole process can take a couple of days. Same goes for withdrawal where you have to go through PayPal each time you want to make a transaction.
Not Available Widely
Due to the stringent rules made by PayPal, not all casinos can use it as their payment method. You might find your options limited due to this and need to find out the casinos that do accept it.
Maintaining Safety and Security
PayPal uses layers of security methods for online casino players including advanced data encryption, Buyer Protection, and Fraud Protection measures. PayPal has strict policies and they follow them rigorously. So, it will never let casinos with bad reputation integrate their payment method. This means you won’t have to deal with shady online gambling sites. Additionally, PayPal offers a feature called Account Protection which is like insurance for the players. In case someone illegally uses your account to make unauthorized purchases, you will be covered by PayPal for it. The best thing about PayPal is that you can make all online transactions without revealing your sensitive card information.