PayPal Betting Sites (UK) - April 2024
Thinking of using Paypal to bet? Get all you need to know about withdrawl/deposit times, fees and limits across UK betting sites. If you've never used it before, this getting started guide is here to help.
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Betting With PayPal
PayPal has quickly become one of the most popular payment methods due to the ease and security it offers. PayPal was established back in 1998 and formerly called Confinity, and the e-wallet has been a mainstay of online retail for years and while it may be relatively new to online gambling, it arrives with a reputation for being one of the safest ways to withdraw and deposit your hard-earned cash on the sports and markets you love.
Why Should I Bet With PayPal?
Security - Levels of security are enhanced as PayPal acts as an intermediary between the bookie and the bettor. As PayPal is the site that hosts your card's details, it means that your financial information is more likely to be safe if the bookmaker becomes compromised as the bookie does not have all of your information on site. PayPal's brilliant customer service also means that if you were to have anything between minor problems with your account all the way to card fraud then you would be able to call and receive help and support from their team.
Speed - The ability to deposit instantly and withdraw in the knowledge that both your personal and financial details are safe and secure with PayPal only adds to the benefits of using them. You can trust all PayPal betting sites as they are only available with bookmakers licensed by the UKGC (UK Gambling Commission), meaning you know that you are betting with reputable bookmakers along with one of the safest e-wallets in the market today.
Fees - Some bookmakers do not charge any fees when using PayPal. This means that your margins, and therefore winnings, could be better for doing so.
Is PayPal Safe For Betting?
Yes. PayPal is one of the safest payment methods in the world for any type of online transactions. It’s success as an e-wallet in betting has been built on it’s no-nonsense approach to security and the fact that it is a tried and tested service, meaning that the UKGC continues to allow bettors to utilise PayPal for transactions.
PayPal offers an encryption key length of 128-bits (the highest level commercially available) which means that your personal and financial details are safe from prying eyes. Their use of the latest technology means they are streets ahead of some other available e-wallets allowing you to bet safe in the knowledge that your details are secure.
How Long Do Deposits Take?
They are instant - As long as your PayPal account is funded you should be able to deposit money into a bookmaker account in seconds.
How Long Do Withdrawals Take?
Certain other withdrawal systems can take a long time to allow you to get your hands on your winnings with bank transfers, credit cards and debit cards sometimes taking days. E-wallets themselves take a lot of the hassle and delay out of the process.
You should always be aware of the fact that each betting site is different when it comes to a whole host of matters with withdrawal of payments no different. This means withdrawing with PayPal can range from anywhere between an instant payment to 48 hours, with the money then credited to your PayPal account for you to use.
PayPal also offer lower withdrawal limits so it will not be difficult to withdraw your winnings no matter how big or small. Withdrawal limits are very low with PayPal and you will find below a list of withdrawal limits by bookmaker below.
Does PayPal Have Any Fees?
Another attractive feature of PayPal is the fact you can make deposits into your account absolutely free with certain bookmakers which you can find in the table below. Be aware that withdrawal carries from a PayPal account itself may have a small fee, but this is the case in all industries.
This amount is usually around 3.4% (although this can vary) and this is where PayPal makes its money, as it charges for betting on sport or making an online purchase. Please note that these charges do differ according to tiers, so the amount you are charged could differ from the above figure.
How To Deposit Funds Using PayPal
- Log into your bookmaker account of choice.
- Click on the deposit page and select PayPal as your Payment option.
- Input the amount you want to deposit and confirm.
- You will then automatically be redirected to PayPal’s site where you will need to log in to your account and authorise the payment, while you can also register for a new PayPal account if you do not already have one.
How To Withdraw Winnings Using PayPal
- Log into your bookmaker account of choice.
- Click on the withdrawal page and select PayPal as your preferred option.
- Input the amount you would like to withdraw and confirm.
The money should be credited to your account within 48 hours, for more details see below.
PayPal Betting: Pros & Cons
As with any bookmaker, offer or product, it is vital that you get both sides of the argument so that you can make a well-informed decision on whether depositing on betting sites using PayPal is right for you.
Pros
- Incredibly safe way to deposit.
- Regarded as one of the best ways to deposit online.
- Excellent customer service via phone or email.
- Almost instant money transfers.
- Very quick for mobile users who only need their PayPal username and password.
Cons
- Certain bookmakers may not charge with PayPal but you may be charged a minor fee (typically 3.4%) by PayPal itself.
- Some sports books will not let you qualify for promotions using an e-wallet.
Yes, you can bet with PayPal with most major UK bookmakers in the market today. It is not only a popular way but also a recommended one, with the e-wallet proving to be one of the safest ways to interact with bookmakers in betting, while there are sometimes exclusive offers for customers that choose to make deposits with PayPal.
The industry highly rates PayPal’s security when it comes to betting sites. Their encryption means that your personal and financial details will always be kept safe. Only UK customers using bookmakers licensed by the UKGC can utilise PayPal which means you will only find PayPal with safe and reputable bookmakers.
Deposits using PayPal are nearly-instantly credited to your account, meaning that you can pretty much get straight into the action once you have deposited funds. Of course, your PayPal account will have to be funded, but a deposit to most betting sites will be processed almost instantly.