Paypal Casinos 2020

Paypal Facts
paypal-logo
Company: PayPal Inc.
Founded in:1998
Headquarters:San José, California, USA
CEO: Dan Schulman
Website:paypal.com
Available in:+200
Phone:0800 72 34 500
Best Paypal Casino:PartyCasino
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PayPal is of course one of the first and most established online wallets. You probably already have a PayPal account and have used it for online shopping or for transferring money with friends and family. It’s one of the most widely accepted payment methods on the internet.

Born in 1998, PayPal started out with a bang by facilitating transactions on eBay. The great thing about PayPal was that it can work without credit cards. For small merchants who didn’t have the facilities to process credit card purchases, this was a huge plus.

Of course, it also works out great for those who don’t have credit cards or simply felt uncomfortable putting their card information through a website. Paypal very quickly became available at most online shops and today counts over 305 million active accounts.

Obviously, you can use Paypal for a ton of stuff, but on this page we will focus on PayPal as a payment method at online casinos. We’ll talk about how PayPal works, what players in Canada should expect, and fees you should be aware of. You’ll also see that we’ve put together a list of recommended PayPal Casinos as well.

Paypal Pros and Cons

Hits:Misses:
  • Fast payment method for cashout
  • Widely accepted online
  • Many casinos no longer accept it for deposits
  • International transactions have fees

Best PayPal Casinos 2020

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A Bit of Background on PayPal

PayPal started in 1998, originally known as Confinity, a software security developer for handheld devices. A visionary well ahead of its times, the business didn’t work out and the company moved to being a digital wallet instead. In March 2000, the company was acquired by Elon Musk. A year later, the company was rebranded to PayPal, with Peter Thiel, one of the original co-founders of Confinity as the CEO. In 2002, Paypal went public and it is now a publicly traded company on the NASDAQ.

Paypal payments

Shortly after PayPal went public, it was acquired by eBay to facilitate transactions without credit cards. In 2015, PayPal.Me was launched, a mobile first, peer to peer payment system that lets users transfer money between friends and family.

PayPal Casinos Canada – A Special Note

idea iconPlayers in Canada need to know that due to changing regulations, most online casinos will not accept PayPal or most other e-wallets as a deposit method. However, you can still use it for cashing out.

Why Use PayPal at Online Casinos

As mentioned, if you are in Canada you will find that most online casinos no longer accept PayPal for making deposits. You might be wondering why you should even bother with Paypal casinos anymore then.

The answer is simple. Because a good part of the beauty of casino games is the payout, and PayPal still works as a withdrawal method for taking your winnings home. Not only does it work, but it’s also one of the fastest methods. The cherry on top is that PayPal is widely accepted, so you can easily use the received winnings in your balance to go shopping or make payments afterwards!

PayPal Casino Withdrawals & Fees

Paypal mobile appWhile it is free to set up an account, there can be PayPal fees depending on the kind of transaction involved. We’ll focus mostly on the costs that might come up when it comes to banking with PayPal at online casinos here.

PayPal does charge currency conversion fees, but as most online casinos – at least the ones we recommend here – bank natively in Canadian dollars, this is not an issue.

The fees you will potentially have to deal with come when you are receiving your winnings. Since players in Canada can only play at online casinos based abroad, receiving money from a casino will cost 3.9% fee plus a $0.30. This is the PayPal Canada fee rate for international transactions.

After you receive your winnings, you will see it in your PayPal balance. You can use this balance freely for online shopping or for sending money to friends and family in Canada. If you are sending money to your friends abroad, including the US, it will cost between $2.99 and $4.99, depending on which country they are in. It doesn’t cost anything when you use your PayPal balance, compared to a credit card or bank account funded PayPal transaction.

Should you decide to transfer what’s in your PayPal balance to the bank account that’s linked to your Paypal, it is also free and you should see it the next working day. If you are in a hurry, you can opt for the Instant Transfer. You’ll see the money within minutes for a low price of 1% up to a maximum of $10.

How to Setup PayPal

In case you’re not already set up, here’s how to setup a Paypal account. It’s pretty easy as you start by going to the PayPal website and registering for an account. You’ll get an email after you’ve signed up and you will need to clink on the link inside to verify it before you can use it. Once you have your account, you will need to fund it.

Paypal money transfer

You can do this by receiving money from someone else, or link it to either a bank account, a debit or a credit card. To connect your bank account or card to PayPal, go to the Wallet section of your PayPal account. Once that’s done, you can choose between using your PayPal balance or the cards and account you might have added when you need to make a payment. If you have received money from other people, or even companies such as an online casino, you can also withdraw your PayPal balance to your bank account.

PayPal is also available for mobile and you can download the PayPal app from Google Play or the App Store for free. Although you don’t technically need to have the app to buy or pay for stuff while on your mobile device, the Paypal app is useful if you want to check your balance or transfer money to friends while on the go, and you can even use it to pay at some physical stores in real life by scanning the QR code.

Here are all the steps at a glance:

  • Register: The registration at PayPal is free and takes only a few minutes. Simply follow the instructions in the registration form
  • Entering data: You must have a bank account or a credit card. Payments will be debited from your bank account or credit card a few days after use of PayPal
  • Get started: Once verification is complete, you can deposit with PayPal – and get your  winnings paid out to your account

Can I get a casino bonus when I use PayPal?

money bagNormally, the casino bonus comes when you make a deposit. Since most online casinos no longer accept PayPal deposits from players in Canada due to regulation changes, you won’t get a bonus for having PayPal as a withdrawal method. That having been said, there are some casinos that give you points for completing small tasks, like adding a payment method, that go towards extra prizes like free spins or a bonus.

The Expert Roundup on PayPal Casinos

Paypal heart shaped logoPayPal casinos are a popular choice because almost everyone has a PayPal account and are already using it in their daily life.

As an e-wallet, PayPal is one of the best cashout options. Like with most e-wallets, it’s one of the fastest payment methods and with PayPal, you have the added advantage to easily use your balance for online shopping or making payments with friends afterwards!

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