Funding Your Casino Account: PayPal As A Smart Choice

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Funding Your Casino Account: PayPal As A Smart Choice
By PayPal [Public domain], via Wikimedia Commons

The online gambling industry has grown significantly in the past two decades. It took some time for the industry to take off when online casinos were first launched in the mid-1990s, but by 2008 the industry was worth just under $10 billion per annum. By 2017, this number had jumped up to an incredible $40 billion. More and more people are signing up to play at online casinos. These people are constantly looking for the most convenient and safest ways to deposit money into their account. Here we’ll have a look at PayPal and why it’s considered one of the best options when it comes to online casino banking.

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What is PayPal?

PayPal is a third party e-wallet solution. It is considered to be one of the safest and simplest payment methods for online transactions. PayPal can also be used for mobile transactions. A growing number of online and mobile casinos are now offering PayPal as a payment solution, allowing you to fund your account wherever you are.

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How to Use PayPal to Fund Your Account

Before you look at which payment method to use, you need to find a licensed and regulated online casino. Make sure they employ encryption technology and a comprehensive privacy policy to keep your information secure. You must have a PayPal account which can be opened with an email address only. If you don’t have an account yet, don’t worry - it’s quick and simple to sign up via their website. Fund your PayPal account via the credit card or bank account that is attached to it. Then sign up at the casino and register a casino account, using PayPal as your payment solution of choice.

Making a Deposit

Using PayPal to make a deposit is quick, simple and secure. You’ll need to visit the cashier section at the casino and select PayPal. Enter the amount you’d like to deposit and the email address linked to your PayPal account. You’ll then be redirected to the secure PayPal site. Enter your password and verify your deposit. That’s it. You’ll be directed back to the casino. Using PayPal, your deposit will be processed immediately and you should be able to start playing instantly. There are no fees associated with making a deposit using PayPal.

Making a Withdrawal

If you’ve deposited using PayPal, you’ll need to use this method to withdraw from your casino account as well. There will be a small fee from PayPal for the money that is received into your account. There is generally no fee from the casino.

Why Choose PayPal?

There are many advantages to using PayPal as your payment method of choice. As it is a third party e-wallet solution, you won’t need to share your financial details with the casino. With only your email address, you’ll be directed to the secure PayPal site where you’ll complete the transaction. PayPal is quick and simple. Making a deposit using this method can take just a couple of minutes and the money will be available in your account immediately. The PayPal website is secure, using the security features you would expect from a major financial institution. This is the payment method of choice for many online casino players who are looking for a simple and safe way to fund their account.

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Ankur Shah is the founder of the Value Investing India Report, a leading independent, value oriented journal of the Indian financial markets. Ankur has more than eight years of equity research experience covering emerging markets, with a focus on India and South East Asia. He has worked as both a buy-side investment analyst for a global long/short equity hedge fund and a sell-side analyst for an emerging markets investment bank. Ankur is a graduate of Harvard Business School. You can learn more about his latest views on global markets at the Value Investing India Report. -- He can be emailed at AnkurShah47@gmail.com
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