Most players in the online betting space use a traditional debit or credit card when it comes to depositing and withdrawing funds. Although the payment method is super convenient to use, it comes with one key flaw – speed.
By this, we mean that debit/credit card withdrawals typically take 2-3 working days before the funds arrive in your account. Expect even longer days if cashing out over the weekend.
With that being said, have you considered the merits of using PayPal to fund your betting account? PayPal betting sites not only allow you to deposit funds instantly, but withdrawals are usually received on a same-day basis.
Fancy finding out how PayPal betting sites work? If so, make sure you read on!
What are PayPal Betting Sites UK?
In a nutshell, PayPal betting sites are simply online gambling platforms that allow you to deposit and withdraw funds via PayPal. Everything else remains constant. For example, you’ll still have access to thousands of betting markets – and most sports are covered. Moreover, you’ll be able to place bets both pre-match and in-play.
PayPal betting sites also come with an array of betting features – such as the capacity to cash out bets that are still in-play. This is great if you’ve got a bet on a game that’s currently in the money, but still ongoing. Crucially, PayPal betting sites must be regulated if they wish to service UK players, so your money is 100% safe.
Benefits of Using PayPal Betting Sites?
Not convinced on the benefits of going from a debit/credit to that of an e-wallet like PayPal? If so, we at WinnerSports.co.uk welcome you to read through the following benefits of using betting sites that accept PayPal.
Deposits are Free
First and foremost, gambling sites that accept PayPal allow you to deposit funds without being charged. This is typically the case whenever PayPal is used to purchase goods or services, as the platform makes its money through other channels.
As such, gambling sites PayPal accepted are not charged by the payment processor for accepting deposits, so they don’t need to pass on transaction fees to players like they do with debit/credit cards.
Deposits are Instant
In a similar nature to debit/credit cards, deposits at gambling sites that use PayPal are instant. As we cover in more detail later on, all you need to do is log in to your PayPal account via an online bookmakers site, enter the amount you wish to deposit, and the funds will be added to your betting account instantly.
Extra Layer of Security
With techniques being used by cyber-criminals getting more and more elaborate, you need to be extra careful when using your debit/credit card details online. Such details are often craved by bad actors in the online arena, so you need to decide whether you think it’s worth the risk using a debit/credit card at a gambling site.
With that said, gambling site that accepts PayPal add an extra layer of security on your deposits, as you are never required to enter your debit/credit card credentials at the sportsbook. Instead, PayPal already has your details, so you merely need to log in.
Store Multiple Payment Methods
A further benefit of online betting using PayPal is that you will have access to multiple payment methods at the click of a button. This is because PayPal allows you to link up several debit/credit cards and bank accounts on a single account. As such, you can choose your funding source with ease when using PayPal sports betting sites.
Without a doubt, the main benefit of betting sites that use PayPal is that you will have access to same-day withdrawals. This is in stark contrast to debit/credit card withdrawals, with operators typically taking 24-48 hours before the cashout request is authorized.
You would then need to wait a further 1-3 working days before the respective card issuer credits the withdrawal. On the contrary, betting sites you can use PayPal on have the remit to process e-wallet withdrawals in just a few hours.
Instant Withdrawal From PayPal to UK Bank Account
Finally, once the PayPal betting site has processed your same-day withdrawal, the funds will arrive back into your PayPal account. The good news is that you can withdraw the money out of PayPal and straight into your UK bank account. In fact, as long as the bank account has been verified, the funds will arrive instantly via the Faster Payments Network.
How to bet Online with PayPal
Never utilized PayPal for betting sites before and wondering how the process works? If so, we at WinnerSports.co.uk would suggest reading the step-by-step guidelines that we’ve outlined below.
Step 1. Choose a PayPal Betting Site
First and foremost, you need to find a PayPal betting site that meets your individual gambling needs. This can be challenging, as there are heaps of gambling sites accept PayPal that are active in the UK market. As such, we would suggest assessing what your priorities are.
For example, are you interested in PayPal bet sites that offer the fastest withdrawal times, or is the number of betting markets more important to you?
Step 2: Open an Account at the PayPal betting Site
Once you’ve assessed what you are looking for in an operator and subsequently chosen a PayPal betting site, you’ll need to open an account. The process works exactly the same as any other online betting site, meaning that it will take less than 2 minutes to register.
To complete the process you’ll need to enter the following details:
- Full Name
- Home Address
- Date of Birth
- Telephone Number
- Email Address
Step 3: Deposit Funds With PayPal
So now that you’ve opened an account, you are now ready to deposit funds at your chosen PayPal betting site. First, click on the deposit button, which you should find within your account portal. You will then need to scroll down through the many different payment methods supported by the betting site until you find PayPal. Once you do, enter the amount you wish to deposit.
Note: If you don’t already have a PayPal account, you can open one on the spot. You’ll need to provide PayPal with some personal information and then link your debit card and bank account.
A pop-up box will then open – requesting you to enter your PayPal email address and password. In doing so, PayPal will then ask you what payment source you want to use, before confirming the transaction.
All being well, betting sites PayPal typically credit deposits instantly.
Step 4: Withdrawing Funds From Betting Sites With PayPal
Assuming that you are now ready to make a cash out, the process operates much the same as withdrawing funds to a debit/credit card. For example, you’ll need to head over to the banking section of the online betting PayPal platform, and then enter the amount that you wish to withdraw.
Once you submit the withdrawal request, you’ll likely find that betting sites accepting PayPal will authorize and process it within a few hours. As soon as they do, the funds will arrive in your PayPal account instantly. You can then use the funds to make a deposit at an alternative PayPal betting site or better yet – withdraw the funds back to your UK bank account!
How to Find the Best PayPal Betting websites?
Like the sound of how online betting sites PayPal work and wondering how you can find a platform that best meets your needs? If so, check out the following considerations that we think you should make prior to joining a new PayPal betting site.
Gambling Commission License
If you’re based in the UK, then your chosen PayPal gambling site must be regulated by the Gambling Commission. If it isn’t – and it continues to accept UK players, then it is doing so illegally. As such, always check that the PayPal betting site is authorized and regulated prior to signing up.
Once you have ascertained that PayPal deposits are supported, you then need to assess the sports betting arena. At the forefront of this is the number of markets that the platform supports.
You also need to explore what sports the PayPal gambling website offers. While we would expect the likes of football, cricket, rugby, and tennis to be supported, it’s always nice when less popular sports are covered, too.
Check to see whether or not the PayPal betting site has an in-play section. If it does, it’s worth exploring what betting markets are available while the game is still being played – as well as the types of odds that are on offer.
If you’re a new customer at the PayPal betting site in question, then you might be eligible for a welcome bonus. We say “might”, as some gambling sites do not allow you to claim a welcome bonus if you are looking to deposit funds with PayPal. The reason for this is that it is much easier to engage in bonus abuse when using an e-wallet.
Although PayPal is by far the fastest payment to use when it comes to withdrawals, you still need to check how long the betting site takes to process requests. Some operators will process e-wallet withdrawals in less than 3-6 hours, so be sure to check this before signing up.
You also need to make some considerations regarding customer support. We prefer platforms that host a combination of live chat, telephone support, and email. Furthermore, we also prefer bookmakers that offer customer support on a 24/7 basis.
PayPal Gambling Websites: What Next?
Ready to make the transition from a debit/credit to that of a PayPal deposit? If so, there are dozens of online gambling sites that now support PayPal, so we would suggest reading through the guidelines that we have outlined in the section above.
However, if you don’t quite have the time to perform your own research, it might be worth checking out the recommendations that we’ve listed on this page. Each site has been independently reviewed, so you have the chance to find out why we have decided to recommend it.
Most importantly, we never allow a PayPal betting site to influence our reviews, so you can be sure that all material on the WinnerSports.co.uk platform is 100% impartial.