Using PayPal at an Online Sports Betting Site
PayPal is quite simply the world’s best known and most trusted online payment solution. Millions of transactions are performed each day using PayPal’s state of the art platform which ensures every single transaction is safe and secure. PayPal is a natural choice for use at online sports betting sites. Let’s take a look at some of the key features;
- Fast and simple to use
- No charges for debit card use
- Fully encrypted transactions
- Can be used for payments and withdrawals
A few years back it was quite difficult to find a betting site that would accept PayPal but that is certainly not the case now with most of the top sites happy to accept the e-wallet. However, whether a site accepts PayPal is just the beginning, there are other considerations such as deposit limits, withdrawal limits as well as judging the features the site offers itself. At the end of this article we will also look at some of the alternatives to PayPal.
*** Use PayPal at Boylesports and receive a £25 Free Bet Today ***
The Top 3 Online Sports Betting Sites that Accept PayPal
Not all the sites that we feature on our pages accept PayPal, of the ones that do, Netbet comes out top! What really tipped the scales in Netbet ’s favour was the triple the odds promotion for new customers, we love this idea. Not only that but Netbet will also give you a £10 free bet.
If you are not already a member of one of the UK’s biggest and best online sports betting sites then click on the table below to join.
| William Hill | Excellent |
|
£30FREE | Get Bonus | Full T&Cs apply. 18+. Play Safe. New customers using Promo code BASS40 only. Opt in required. 1x per customer. Min. £10 deposit and stake on Big Bass Bonanza only. Max. bonus £40 with 35x wagering to use on Big Bass Bonanza only. Bonus expires 24 hours from issue. Eligibility rules, game, location, currency, payment-method restrictions and terms and conditions apply. www.gambleaware.org #Ad |
| Ladbrokes | Very Good |
|
£30 Bonus When You Bet £10 | Get Bonus | Full T&Cs apply. 18+ New UK+IRE Customers only. Certain deposit methods & bet types excl. Min first £5 bet within 14 days of account reg at min odds 1/2 to get 4x £5 free bets. Free bets available to use on selected sportsbook markets only. Free bets valid for 7 days, stake not returned. Restrictions + T&Cs apply. |
You would probably think that if an online sports site accepts PayPal then all the conditions would be the same, however some have higher deposit amounts and some have bigger restrictions on how much you can withdraw. We will look at that later in this page.
Making a Deposit with PayPal is as Simple as 1,2,3
If you are new to PayPal, you may be concerned that the process for topping up your account is a long winded and drawn out one but in reality it is really straightforward and once set up may well be a lot quicker than entering your card details on the betting site. In fact, all you will need in the future will be the password that you set up.
Step 1Hopefully you already have an online sports account, if not, then it’s not too late to sign up for one now. Then it is simply a case of logging into your online sports bookmaker account and accessing the cashier. Under payment method select PayPal, enter the amount to wish to deposit and select “deposit”.
Step 2The next step is that you will be directed to the PayPal log in screen. Everything from this stage onwards is fully encrypted with the latest state of the art security so you can be sure that your information is safe. Once you have signed in and confirmed the amount, the deposit is done.
Step 3You will now be redirected back to the sports website where you will be able to see your new balance on the screen. Please remember that on some sites there may be a slight delay until your new balance is displayed.
A great thing about using PayPal is that you never need to disclose your payment information to the company you are paying as all your payment details are stored safely and securely on the PayPal system.
When you have backed a few winners and it is time to cash out your winnings, you will be pleased to know that it is even easier to withdraw funds than it is to deposit them! Again, in the cashier section of the sports bookmaker, select “withdraw” and ensure that PayPal is selected. Your funds will then be credited back to your PayPal account.
Transaction Fees, Processing Time and Limits
When online betting really started to take off, quite a few companies wouldn’t accept PayPal due to the fees they were charged to accept this method of payment. Some of the companies would even pass these fees on to the customers. This is rare now and the online sports sites don’t pass charges onto the customers, they understand the benefits to both the customer and themselves to accept PayPal.
To use a funded account and deposit at any of our recommended sites is free of charge, if you top up your PayPal account with a credit card then charges will apply, this currently stands at 3.4% + 20p. This is charged by PayPal and not the sports site itself, I would consider this a small price to pay for the safety and reassurance that using PayPal brings.
| Method of funding | Amount | Fees | Total Amount |
|---|---|---|---|
| Bank Transfer | £10 | £0 | £10 |
| Debit Card | £10 | £0 | £10 |
| Credit Card | £10 | 54p | £10.54 |
| Bank Transfer | £50 | £0 | £50 |
| Debit Card | £50 | £0 | £50 |
| Credit Card | £50 | £1.90 | £51.90 |
| Bank Transfer | £100 | £0 | £100 |
| Debit Card | £100 | £0 | £100 |
| Credit Card | £100 | £3.60 | £103.60 |
As you can see from the table above, the charges for even using a credit card do not amount to a huge sum! You can avoid any charges by using a bank transfer or a debit card to fund your PayPal account.
The main differences between online sports betting sites that accept PayPal is in how much you can deposit, withdraw and the processing time.
| Sportsbook | Deposit Limit | Withdrawal Limit | Processing Time Withdrawals | Fees |
|---|---|---|---|---|
| William Hill | £1,000 | No Limit | 1-7 days | Free |
| Ladbrokes | No Limit | No Limit | Up to 48 hours | Free |
As you can see from the table above, the deposit limit varies greatly depending on the company you use. If you see yourself as a high roller and will often bet for big stakes, then Ladbrokes would be the choice for you as they have no limits on both depositing and withdrawing to PayPal.
Is it just as Safe to use PayPal on my Mobile?
I don’t know about you, but on the rare occasions that I forget my phone and leave it at home, it feels like I am missing an arm! Mobiles have become a huge part of our lives and quite simply we wouldn’t want to be without them.
It’s only natural then, that we want to use our devices for “betting on the move”. The good news is that no matter if you use your home pc, laptop, mobile or tablet, then PayPal will offer the same high levels of security and protection.
So How Safe is PayPal?
PayPal are one of the few companies that are so confident of the industrial strength security of their platform that they offer financial rewards to hackers if they find any vulnerabilities.
PayPal monitor each and every transaction and if they suspect any fraudulent activity they will instantly freeze the account to prevent further attacks.
You can of course take a few steps yourself to ensure you stay as safe as possible, these may sound like common sense but following this advice could save you a lot of time and hassle.
- Ensure your virus and malware protection are up to date
- Don’t use public networks for transactions, this also applies to unsecured networks
- Don’t use a shared computer (for example a library) for transactions
- Ensure you log out of PayPal after using it, even at home
- Don’t click on links contained in an email allegedly coming from PayPal
- Never disclose your password, PayPal will never ask you for this
- Change your passwords at regular intervals and avoid writing them down
On a personal level, I would much rather give my financial information to one company who are world renowned for the level of safety and security and then use PayPal for five sites rather than give my personal information to five different companies, it just seems more logical.
Are there any PayPal Alternatives?
There sure are! Whilst we are huge fans of PayPal and use it at least weekly to regularly top up our balances, we understand that for whatever reason it may not be suitable for everyone! So let’s have a look at some alternatives.
| Name | Description |
|---|---|
| VISA | As well as VISA, MasterCard and Maestro fall into this category and are the most common ways of adding funds to online sports betting sites. They are the most widely accepted and just about all sites will be happy for you to use them.
The confusing thing can be the difference between a debit and a credit card and this difference can determine if you are charged or not. When you use a debit card, the money comes straight out of your bank account – this method will not incur charges. When you use a credit card the money doesn’t come out of your bank account instantly, you will receive a bill to pay – this method will incur charges. |
| Skrill | This e-wallet acts the same way as PayPal does and is becoming more and more popular. Like PayPal there are charges, however, with Skrill the charges are smaller than what PayPal charges. Not as widely accepted as PayPal but that is changing all the time. |
| NETELLER | Another e-wallet like PayPal and Skrill. Recommended but you may find lower limits on deposits than with PayPal. It is also worth checking the terms and conditions of any bonus offers you take with the sports sites as some do not allow NETELLER to be used. |
| paysafecard | Paysafecard is a pre-pay card rather than an e-wallet and you can buy these cards at lots of retailers in the UK. Whilst we are fans of this system the big drawback is that you cannot cash out with this, meaning you will have to find an alternative way to receive your winnings. |
In a Nutshell – Pros & Cons
There are many advantages to using PayPal, not least the fact that it acts as a separate layer of security between you and the company you are wishing to pay.
The transactions themselves are very often quicker and more convenient than using a credit card and if you do use a credit card to fund your PayPal account and there is a problem you have both PayPal and your card issuer that you can turn to for help in resolving a dispute.
The only con I would say are the fees, I would still state that the rate of 3.4% + 20p is reasonable but as stated earlier in this page, if you fund by any other way than credit cards then the fees do not exist.