PayPal is available in virtually every country in the world and in every state in the US, with over 218 million users worldwide.
It represents one of the most universal and trusted methods to make and receive payments.
It should be no surprise that PayPal is one of the most popular ways to make payments with online casinos and sportsbooks. In fact, PayPal is the largest global e-wallet for both commercial transactions and online gambling.
When online sports betting in West Virginia relaunches, it is expected that mobile betting apps will have PayPal as a deposit and withdrawal option.
Can PayPal be used for online gambling?
PayPal can be used for online gambling, including:
- Online sports betting
- Online casino games
- Online poker
There are some restrictions, though. In fact, for several years PayPay prohibited transactions involving gambling in the United States.
It now, however, allows legal gambling transactions in regulated markets to take place on its site in the US.
PayPal does restrict transactions by both merchants and individual account holders anywhere that gambling activities are illegal, both in and outside of the US.
PayPal requires merchants that offer real-money casino games and online sports betting to be approved by PayPal. PayPay prohibits gambling activities by unapproved merchants, even when the specific activity is lawful or is not legally defined as gambling.
Paypal is commonly used for gambling activities, including:
- Games of chance and games of skill
- Casino games
- Online sportsbooks or sports betting
- Horse or greyhound racing
- Simple betting between individuals
- Sweepstakes betting
- Pari-mutuel betting
- Off-track betting (OTB)
- Person-to-person betting
- Lottery tickets
Most legal, licensed online gambling sites have applied and received approval to use PayPal for transactions.
Do WV online sportsbooks accept PayPal?
The most popular online gambling sites accept PayPal.
Currently, there are three online sportsbooks approved to operate in West Virginia:
We expect all online sportsbooks in West Virginia to apply for and be approved to accept PayPal when they go live.
It is one of the most sought-after payment options by players for two reasons:
- It is trusted and secure
- No credit card or personal information is transmitted
Additionally, look for WV casinos to accept PayPal when online casino gambling launches in early 2021.
How to sign up with PayPal
Creating an account with PayPal is fast and easy. You will need to have this information ready to complete the form:
- Email Address
- Physical Address
- Bank or Credit / Debit Card Details
- Date of Birth
You may also be asked to prove you are not a robot by checking a box. For some services, other verification may be needed, such as Proof of Identity and Proof of Address.
The PayPal access card does not require a minimum balance or monthly fees and has no fees for MoneyPass ATM withdrawals within the US.
How to deposit to a PayPal account
PayPal offers two options to put money into a PayPal account for gaming purposes.
- Electronic check
- Wire transfer
European citizens can use credit cards or debit cards, but these options are not available to US residents.
How to withdraw from a PayPal account
PayPal offers three options to withdraw funds:
- Electronic check
- Check by mail
- PayPal access card
The PayPal Access card is a debit card. It allows the holder to withdraw cash at ATMs around the world and is accepted anywhere Mastercard is accepted.
You can get a PayPal Access Card fast and easy online. To apply, you will need:
- Your name
- Date of birth,
- Government ID
Does PayPal Cost Anything?
Opening a PayPal account is free and there is never a service charge or other similar types of charges unique to PayPal. Some transactions and services have fees.
A transaction completed in a different currency than that of your PayPal account will have a conversion charge. This includes a set charge and a percentage of the transaction.
A cross border fee of 0.3% and 3.9% of the total transaction is applied to money being sent abroad. These fees are not unique to PayPal you will pay transaction cross border and currency conversion fees regardless of the payment method.
Payment via credit card has a fixed fee of 30 cents plus 2.9% of the transaction. Payments via your PayPal account balance, bank account, or your debit card are free.
PayPal provides safe and secure money transactions
PayPal does not allow the sharing of personal information or banking details.
Additionally, PayPal encrypts all transactions as well as monitors each step of the transaction to stop fraud and identity theft. This included contacting you if suspicious transactions are detected on your account.
These proactive prevention measures reduce the risk of fraud and keep PayPal secure. PayPal also has a resolution center which is committed to working with customers to resolve issues and payment disputes.
PayPal’s reputation is that of one of the safest e-wallets available. One could argue that it is safer than using a bank account directly. This is because PayPay is an additional layer of protection between the gambling site and the player’s financial information.
PayPal’s history with online gambling
PayPal was the first major e-wallet on the internet and rapidly developed as the number one choice for online gambling sites that accepted bettors from the US. Gambling transactions became a large portion of PayPal’s business. In 2002, gambling transactions represented about 8% of PayPal’s processing operation.
PayPal ceased processing online gambling transactions after its merger with eBay in 2002. Other e-wallets made themselves available to replace Paypal sportsbooks and casinos. All of them got into legal trouble with the US due to processing online gambling transactions.
PayPal also felt the weight of the US legal system and for its involvement with online gaming prior to 2001. It settled its legal issues by paying a $10 million civil settlement, an amount approximately equal to the estimated profit PayPal made processing online gambling payments.
PayPal returned to processing online gambling in 2009. However, it conducted transactions only with legal and licensed sites and only in the jurisdictions where payments were processed. This limited its online gambling business to the UK.
Today, PayPal allows gambling transactions in jurisdictions where it is licensed, such as Europe. Regulated US online gambling sites are also permitted to use PayPal as a payment option, including:
- New Jersey
Does PayPal have a mobile app?
Yes. PayPal has a mobile app available for download from the Google Play Store and the Apple Store.
Can a friend’s account be used to make a deposit on a gambling site through Paypal?
They can not. PayPal allows only the account user to make deposits at a gambling site.