At one time Paypal was one of the top deposit and cashout options for online sports betting fans. That changed in 2002 when Paypal stopped working with sportsbooks that accepted U.S. players. Paypal still works with some European sportsbooks so it was not a total loss. Sports bettors or “punters” as they are called in the UK and abroad can still use Paypal to fund their sportsbook accounts as well as cashout money. This article will explain what Paypal is, how it works and provide a list of the best Paypal sportsbooks online today.
What Is Paypal And How Does It Work?
Paypal is one of the oldest and certainly the largest e-wallets in the world. When you create a Paypal account you are basically creating an online bank account. They offer debit cards, credit cards, interest on your account balance and the ability to spend more money than you have in your Paypal account. Paypal is an international company and offers full buyer protection. They are regulated by numerous government agencies so they are safe and secure. Here are step by step instructions for opening a Paypal account.
Step 1 – Visit www.Paypal.com
Step 2 – Click on the “Signup Now” button. Choose a personal account if you plan on just using Paypal to fund and cashout of your sportsbook account. With this account type you will also be able to shop at a wide range of online stores like eBay, and send money to/from friends and family members. Once you have chosen the personal account type just complete the signup process.
Step 3 – Connect your bank account to your Paypal account. Paypal will make two deposits into your bank account. They do this to validate that you are the owner of the account you specified. These deposits will be for less than a dollar each, and the easiest way to spot them is to log into your online banking service. If your bank does not offer online banking you can just call them. You will need to log in to Paypal and input the two amounts (ex: $0.19 & $0.23). Once this is complete you will have a working Paypal account. You can also connect a debit or credit card to your account which will enable you to go over your Paypal balance. The easiest way to fund your Paypal account is through an electronic check. This will be taken from the bank account attached to your Paypal account and only takes 2-3 days.
Once your account is setup and funded you can start making deposits and cashouts at several of the top online sportsbooks. If you have the Paypal debit card you will be able to go to an ATM and pull out cash or use the card to make purchases. This means that you can have cash in hand very quickly when you cashout to your Paypal account. If you do not need the money right away you can have Paypal send your sports betting winnings directly to your bank account.
The Best Paypal Sportsbooks Online
Paypal does not work with every European online sportsbook. They typically only deal with the larger sportsbooks for legal reasons. That should not effect you though because why would anyone want to place wagers at a small time sportsbook? The Paypal sportsbooks listed below offer a much more secure service. They also provide the best sports betting experience.
Bet365 – Bet365 accepts Paypal deposits and will process cashouts the same way. When depositing or cashing out at Bet365 using Paypal there is a $10 minimum and a $5,500 maximum. This gives you a lot of flexibility that other sportsbook deposit options don’t offer. Deposits are instantly credited to your sportsbook account and withdrawals will be in your Paypal account within 24 hours. Bet365 is one of the Internet’s most popular sportsbooks.
William Hill – William Hill provides the most flexibility when it comes to Paypal deposits. You can deposit up to £20,000 at once and the money will immediately be credited to your sports betting account. William Hill is one of the United Kingdom’s largest book makers and is a publicly traded company.
Ladbrokes – The Ladbrokes sportsbook accepts Paypal deposits as small as £10. When you deposit using Paypal the money is instantly credited to your Ladbrokes sports betting account. When it is time to cashout you will have the money in your Paypal account in 6-12 hours.
Paypal Alternatives For U.S. Sports Bettors
Sportsbooks that accept bettors from the U.S.A. offer several Paypal alternatives. They don’t want American sports betting enthusiasts to have a hard time funding their accounts. I will list the best deposit options for U.S. bettors at the top U.S. friendly online sportsbooks.
Bookmaker – Bookmaker accepts a very unique deposit option. If you have a cell phone and a debit card, credit card you will be able to fund your Bookmaker account using iPoint. Funding an iPoint account with a credit card has a 100% success rate since it isn’t directly gambling related.
Bodog – Bodog is one of the leading U.S. and international sportsbooks. MyPayLinQ is a U.S. friendly e-wallet that can be used just like Paypal. They also accept Digital Pin, a sportsbook deposit option exclusively for U.S. citizens.