Understanding the Relationship Between PayPal and Online Casinos
When we’re talking about the different e-wallets that you can choose for making payments, PayPal is not at the top of the totem pole. In fact, the number of casinos accepting it as a payment option are not that many. Still, it does have one of the tightest securities available and also offers instant deposits. The former is particularly a soft spot of the e-wallet—which is why PayPal doesn’t necessarily mix well with online casinos. The result of anything contrary to that fact is an instant increase in reputation on the part of any casino involved.
Still, that tidbit of information can be countered by the fact that a lot of casinos offer average services, while their relationship with PayPal suggests otherwise. They’re 2 contradictory things, which is why below is a review of the relationship between casinos and PayPal over the years. It should shed some light on how things operate.
Good Security if You Choose the Right Casino
The highlight of any payment option is its security. Especially when it’s attached to an online casino. So, the first topic that immediately comes to mind is trust. Do you really trust the online casino’s promise that your financial details will not be exposed? When you’ve covered this question, we have the protective measures that the casino has in place. Therein, the technology that you should be after is the integration of SSL encryption into their website. It stands for Secure Socket Layer, and its job is to protect your financial data. The 128-bit SSL is the absolute minimum that you should go for.
So on to how it works: the encryption technology acts as a firewall against hackers. When you browse the internet and visit different websites online, you’re also visiting their various servers. Most of the information here isn’t important enough to use for fraudulent activities. On an online website though, there are hackers snooping around for information.
Bonuses Specific to PayPal
Yes, there are bonuses specific to making deposits through PayPal. The issue here is that the bonuses are rare. As a matter of fact, if you do a Google search on the PayPal bonuses available to players, you’ll come up with none. Bonuses that are exclusive to a single payment option (PayPal) are hard to get because they usually require collaboration between both platforms. Online casinos are not putting in place any promotions that’ll help any payment platform if there are no benefits. Most of them offer deposit bonuses that can be applied to all the other types of payment options you’ll find on the website. In short, while there are bonuses particular to PayPal, they’re too irregular to wait for.
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PayPal Withdrawal Limits
The minimum that you can deposit through PayPal in casinos is usually manageable ($10 – 20). Likewise, the same thing can be said about the maximum that players can deposit. In contrast, the minimum and maximum amount that you can withdraw differ from one online casino to the other. To that, here are some of the forms that the limits can take.
Capped Transaction Amounts
In some casinos accepting PayPal, the max withdrawal that you can make will be capped. So, if you find a casino that limits your withdrawals to perhaps $7,000 per every process, the loophole here is that you can make multiple withdrawals. The only drawback is the fact that you may incur charges per transaction.
Fun Fact: Ask a customer support member about the daily limit for withdrawals. While it may seem like you can make countless transactions in a day, don’t ignore the fact that it may be capped.
Other casinos, they make use of daily limits instead of limiting just the transaction. With this type, there is no loophole to use. An example is X Casino placing a daily limit of $10,000 on withdrawals. After that, the casino may place a $15,000 limit on the whole month to control your withdrawals.
How to Select the Ideal Casino Supporting PayPal
As we mentioned above, just because an online casino supports PayPal, doesn’t mean you should not evaluate the casino’s worth personally. PayPal is the most popular e-wallet available—which is for a good reason. They’ve built the right amount of trust, but the casino hasn’t. The following is a mini guide on how you can measure a casino’s worth.
Presence of Regulatory Bodies
This depends on the jurisdiction of the online casino itself. An overview is that if you were in Europe, 2 popular and well-loved bodies that you should keep an eye out for are the UK Gambling Commission (UKGC) and the Malta Gaming Authority (MGA). If you were in North America on the other hand, Kahnawake Gaming Commission (KGC) and Nevada Gaming Control Board are 2 notable ones. All of these bodies have actual power when it concerns online casinos. So, they’re some of the trustworthy tags that a credible casino must have.
Testing the Utilities
You can start with the appearance of the casino itself. How comfortable are you with the layout (down to the colors)? And is navigating the various sections on the website tedious? After that, search for the games you want to play to see if they’re available. If yes, on which platform (mobile devices or desktop) and is the play smooth on both smartphones and tablets?
For live games, you should check out the minimum and maximum limits on both deposit and withdrawal—and see if they’re flexible enough for you. With the bonuses, see how generous the casino gets though, have a read through the T&Cs just in case. Finally, you should have a look at the online casino’s VIP program and any long-term benefits for consistent play.
Should You Use PayPal or Consider Other Options?
If PayPal is accepted in your country and then the casino, then you should use it. It has minimal fees when compared to other payment options, and the deposit/withdrawal limits provided it’s a casino of high-quality, are flexible.
Still, the payment platform is a middleman, just like any other e-wallet that you can pay with. You will have to send cash from your bank account to your PayPal account before you then deposit the cash into your casino account. The opposite takes place if you want to withdraw your winnings to your bank account. Overall, everything will probably take between 3-5 days.