Paypal is the biggest e-wallet in the world, with more than 400 million users, and in general, one of the largest payment processors. One industry in which PayPal has flourished is esports betting, with numerous platforms offering deposits and withdrawals.
Many esports bettors use PayPal for gambling because it is easy to use and accessible to anyone with a bank account.
If you are wondering why PayPal is so famous, what are the benefits of PayPal over other payment channels, and if it’s the right choice for you, you can read our article and get all your answers at once.
Brief History of PayPal
PayPal was founded in 1998 under the name Confinity, and it primarily focused on creating a way for consumers and companies can make low-cost, practically effortless digital payments. In just a few years, the company managed to capitalize on the momentum of the internet and quickly satisfied the need to provide easy payments for consumers.
eBay realized the power of this company and bought it in 2002 for $1.5 billion, giving PayPal a significant boost in popularity and users. These two tech giants stayed together for more than ten years until, in 2014, the shareholders of PayPal decided to split from eBay and continue as a single, publicly-traded company.
Fast-forward to the present, and PayPal is a major name in online transactions. It provides payment solutions for people worldwide and more than 5 billion transactions only for the first quarter of 2022. Given those figures, PayPal is definitely here to stay, and the innovations it brings to the financial world cannot be overstated.
Which Are The Best PayPal Esports Betting Sites?
The number of PayPal betting sites in the world is astonishing, and as the popularity of esports and PayPal continues to grow, more and more gambling platforms are pressured to include PayPal as one of their payment providers. You don’t need to look hard if you want to do esports betting with PayPal since pretty much every famous bookie gives you the option.
PayPal is perfect for esports betting, making it very simple to complete transactions without using any banking information since all you need is an email.
Esports bettors are usually young people between the ages of 18 and 35 that are familiar with the latest technologies on the internet. As a result, PayPal has attracted the attention of many of them. Moreover, a payment provider like PayPal is bound to thrive in the modern gambling industry, where speed is valuable.
Bet365
Bet365, the biggest esports betting site in the world, has been accepting payments with PayPal for many years, and its users seem to show a special preference for this payment method.
With over 290 million visitors, Bet365 is exactly at the center of the esports gambling world, and thanks to the excellent betting features of the website, it has become the perfect place to bet on any kind of esports. Additionally, having easy payment methods like PayPal definitely helps in attracting new customers.
Rivalry
Rivalry might not be as big or reputable as Bet365, but there is no doubt that it is a website that esports gamblers are flocking to, thanks to its modern design and competitive esports odds. As a bookie created for esports, Rivalry knows how to treat its customers.
You can make payments in any number of ways, but PayPal deposits are some a favorite of Rivalry’s users, surpassing even the amounts deposited by credit or debit card. It is a testimony of how easy it is to use PayPal and how many people prefer it over traditional methods.
Midnite
Midnite is one of the PayPal betting sites that are getting a lot of attention lately, and the user base of this website is constantly growing. More than 500K monthly visitors enjoy esports betting in the safe environment that Midnite has created.
And thanks to its firm gambling license from the UK Gambling Commission, nobody can claim that Midnite is not a trustworthy website.
Midnite offers many modern payment options like cryptocurrencies and PayPal, and the deposit and withdrawal limits are very flexible, making it the perfect choice for big and small bettors.
EGB
EGB is a very famous name in the esports betting ecosystem, and thousands of dedicated esports gamblers have trusted it with their money, never looking back since. EGB is a fully licensed sportsbook and one of the first that focuses exclusively on esports tournaments.
Because of the constant promotions and bonuses that EGB offers its users, a good and reliable payment method is necessary to benefit from as many as possible. This is why many of its customers prefer to use PayPal for frequent transactions, to get as many free bets as possible.
Unibet
Even though we have been mostly mentioning more prominent betting sites that focus on esports events, we can’t ignore Unibet when talking about PayPal betting sites. Unibet offers both esports and sports markets, doing an equally good job at both of them, something that very few bookmakers can achieve.
Every player can enjoy placing esports bets knowing that if anything comes up, his problems will be solved by the professionals working for the customer support. No wonder PayPal cooperates with such a solid sportsbook.
How To Use PayPal On Esports Betting Sites
Esports betting sites that accept PayPal do so because of this payment method’s massive outreach and its ability to provide fast and safe deposits. All you need to have is a PayPal account, and with your email, you can make a deposit.
However, it is important to note that most online bookmakers will first ask you to complete the “Know Your Customer” procedure since it is a requirement in most countries to combat money laundering and the founding of terrorist activities. It might sound strict, but it is necessary to ensure everyone’s safety.
Also, each online bookmaker’s deposit and withdrawal limits are different, so you should make sure they are what you are looking for. For example, on many bookies, PayPal payments offer great deposit limits, which can vary greatly. Usually, you can find this information available on any betting site before you even create an account.
How To Deposit With Esports Betting Sites That Accept PayPal?
Even though it can get complicated to make deposits for esports betting, PayPal is one of the most straightforward payment methods you can choose, and with just a few clicks, you can have your money ready to go to your gambling account.
To deposit funds with esports betting sites that accept PayPal, you need to follow these simple steps.
- Log in to your account with a sportsbook that supports PayPal payments
- Navigate to the cashier tab
- Choose PayPal as the payment method and the amount you want to deposit
- Confirm your payment through the PayPal application
- Done
If you do the procedure correctly, you will see the money credited to your account within a couple of seconds, and you are ready to embark on an amazing betting journey.
How To Withdraw With Esports Betting Sites That Accept PayPal?
After you have had all the fun you can have from esports betting, and it’s time to get your money safely into your account, PayPal is again one of the best available options.
Remember that if you didn’t complete the KYC for depositing money, you will have to do so when it’s time to withdraw. So first, ensure everything is set up and ready to go.
To withdraw with esports betting sites that accept PayPal, just complete the following steps.
- Log in to your account
- Head to the cashier and choose the withdrawal option
- Choose PayPal as your payment method, and pick the amount you want to withdraw
- Confirm your payment, and enjoy the money in your account
After you have your money in your PayPal account, you can transfer it to your bank account without any extra charges or just keep the funds in the account for the next time you need them. It’s up to you to decide, but one thing is for sure, the money is safely in your possession.
How To Open A PayPal Account
Before you join an esports betting site that accepts PayPal deposits, you should already have an account on the platform. It is easy to create an account with PayPal, as long as you have an email and a bank account.
To open a PayPal account, follow the steps below.
- Navigate to the PayPal website
- Click on the Sign-Up button
- Add your email and a secure password
- Confirm you email
- You are done
With these simple steps, you are one step closer to adding money to your betting account. All you have to do is link your bank account with your PayPal, and you will be able to send and receive money. Don’t worry; PayPal will explain how to do it step by step.
When everything is set up, you can immediately connect your PayPal account with the esports betting site you prefer and deposit money without any problems.
Online Betting With PayPal: Pros and Cons
PayPal might sound like the ideal payment method for gambling sites, but of course, there are certain advantages and disadvantages to using this payment method. Depending on what you want to do, how often you wish to deposit, how big your deposits will be, and many other factors, you can find PayPal to be the right choice for you or not enough to satisfy your needs.
One of the main benefits of using PayPal is the security it can offer you. Even though the encryption of the transactions is pretty similar to traditional banking methods, the fact that you don’t need to share the number of your debit card, or any other sensitive financial information, is really important. Many people prefer e-wallets and PayPal, in particular, for this exact method.
Making payments with PayPal is significantly easier than most traditional banking methods. You can make payments just by giving your email and pressing a few buttons on the mobile application, which is a massive improvement from typing a 16-digit code, then an expiration date, name, and CVV.
That being said, PayPal is not the best choice if you want to make very big transactions because some websites limit how much money you can transfer with PayPal. Especially withdrawals can be limited on some bookies. Moreover, PayPal s not always available for withdrawals, which forces you to switch to other payment methods that you might not be comfortable with.
Advantages Of Using Esports Betting Sites With PayPal
If you are still unsure of the advantages of using esports betting sites with PayPal, you can look at the list below and quickly understand.
- Easy to set up and use
- PayPal is accepted by most esports betting sites
- Withdrawals and deposits are both done instantly
Disadvantages Of Using Esports Betting Sites With PayPal
You shouldn’t forget that PayPal is not the perfect payment provider for everyone since there are some disadvantages that can limit players from enjoying betting to the fullest. Some of the biggest problems of using esports betting sites with PayPal are the following.
- PayPal charges a deposit fee
- There is a fee for paying in a foreign currency
- Poor exchange rates
PayPal Betting Alternatives
It should be clear by now that PayPal is pretty much the king of e-wallets, but that doesn’t mean that it is the only option you have, and there are many great alternatives to choose from. Additionally, PayPal might not be accepted by certain esports betting service providers, so it is good that you are prepared to use any other e-wallets that can do an equally good job as PayPal, if not better.
Skrill
Skrill is another super popular e-wallet that has become a favorite of esports bettors for its fast transactions and wide acceptance from various betting sites.
Skrill and PayPal are very comparable, and it is hard to say that one is better than the other, but the main advantage of Skrill is that it has no deposit fees, unlike PayPal, which charges between four and five dollars per transaction. Therefore, if you want to make frequent withdrawals, you should prefer Skrill.
Neteller
Neteller is another famous option for making payments on esports betting sites, with millions of users worldwide and excellent services.
You just need to create an account and link it to your bank account, and you can make payments in a matter of seconds. The deposit limits for Neteller are usually quite high, and many big bettors prefer this option. Similar to Skrill, Neteller has no deposit limits.
Conclusion
It is important to find a payment method ideal for esports betting, and one of the best options is PayPal, accepted by a wide variety of bookmakers, from esports betting sites to traditional bookmakers. With it, you can deposit and withdraw funds quickly and securely without revealing your financial information to anyone, which is one of the biggest benefits of e-wallets.
If you are thinking of starting your esports betting journey, PayPal can be with you all the way and make the whole process easy and enjoyable. So start betting today with the most reliable payment method available.
FAQ
Can I use PayPal for online gambling?
Yes, you can use PayPal for online gambling. All you need to do is open your betting account, go to the cashier, and choose PayPal. Then provide your email, and authorize the payment through the mobile application or the PayPal website. After that, your money should appear in your account. Easy and fast, as it should be.
Which esports betting sites accept PayPal as a payment method?
As the most popular e-wallet in the world, many esports betting sites accept PayPal as a payment method, including Bet365, Midnite, and EGB. Bet365 is the biggest betting site in the world, so it is a great option, but Rivalry is your best option if you want an esports-exclusive betting site.
Is it safe to use PayPal with esports betting sites?
Yes, it is safe to use PayPal with esports betting sites, thanks to the excellent security features that PayPal guarantees. Every transaction is unique, and end-to-end encryption is the best available in the financial sector.
Can I use PayPal on Betfair?
You can use PayPal on Betfair to make deposits and withdrawals. As one of the biggest betting exchanges, Betfair accepts all the most famous payment methods, including PayPal, which has over 400 million users.
Which online betting site is the best?
The best online betting site is Bet365. It has conquered the online betting world, and there are numbers to back those claims up. No other sportsbook comes close to the monthly visits that Bet365 gets or the betting services it provides – when it comes to online betting, Bet365 is the king.
