Over the past decade or so, online betting has become a sustainable paradigm. Punters no longer have to visit race tracks or bookie shops to place their wagers. The use of online payment methods has increased quite a lot in the process.
It’s understandable because if you can’t use online payments to execute a deposit, the whole point of the iGaming industry becomes meaningless. Thankfully, the UK is one of the hottest places for online gambling, and it has plenty of payment methods for users.
One of those methods is PayPal. Since the very beginning, PayPal has been providing seamless fund transfers worldwide. It’s also a valid method to pay merchants online, which an online bookmaker is. Betting companies that use PayPal in the UK are abundant at this point.
Also see: try betting using mobile phone credit
PayPal for Betting ? How Does It Work?
PayPal happens to be one of the most popular online payment methods in the UK, and the residents use it for all kinds of things.
For online betting, the payment component of PayPal comes into play. When you’re logged into your sports betting account, you need to navigate to the deposit page and select PayPal.
Once you provide the site with all the necessary information, it’ll redirect you to the portal for authentication. The deposit should go through immediately if you play all the cards right.
Did you know that Elon Musk was once the CEO of PayPal? And that it was deemed as one of the “worst business ideas” of that time? Look at where PayPal, Elon Musk, and everyone involved is now!
The Best Online Betting Companies in 2022
The idea of online betting sites is quite old at this point. Everyone knows about them, and millions of people spend billions of pounds every year on these sites. But are all of them equally good? Of course not.
So, what makes betting companies that use PayPal good in the UK? Let’s find out!
- License: The first thing all online gambling sites should offer is a valid license. In the UK, unlicensed bookmakers are strictly illegal. So, you can’t go betting with PayPal if you can’t find a licensed bookmaker in the first place. Thankfully, all of the brands you can find on the BetZillion list are licensed. You can accumulate the data from the footer section of the websites and verify the license with the UKGC account number.
- PayPal Availability: It might sound obvious to a lot of you, but a good betting site should offer PayPal as a valid payment method. At least in this context. When it’s available, it usually is for both deposits and withdrawals. You should also look into the limits for your PayPal transactions and see if they’re within reasonable reach of your needs.
- Alternative Payment Methods: PayPal is surely a perfect payment method, but it shouldn’t be the only one at a good betting site. Instead, there should be a mix of debit cards, prepaid cards, e-wallets, and cryptocurrencies. Because if you can’t use PayPal for some reason, you still have the option to bet with other methods.
- Sports Markets: The availability of sports and markets is the most important aspect of a bookmaker, whether online or offline. While having only one sport for betting might make a platform a “bookmaker”, it will not be a very good bookmaker. Hence, the best betting companies that use PayPal should offer lots of sports and lots of markets within them. Football, cricket, handball, hockey, golf, MMA, horse racing, etc., are just some examples of sports.
- Competitive Odds: A sportsbook is as good as the odds it offers. After all, odds make or break a bet for the punters. The best way to ensure that the bookmaker you’re going for has good odds is to compare them with other bookmakers. You can sign up and deposit real money after you’re certain that you’re happy with the odds projection.
Why Should You Use PayPal for Online Betting?
You know that PayPal is one of the most widely used methods for real money payments in the UK. Are you wondering why? There must be some benefits to it. Let’s figure out what they are.
It’s Fast
PayPal is technically an E-wallet which means PayPal sports betting will be an instantaneous experience for you. Both deposits and withdrawals are instant. While deposits are instant for any method you use, few can claim it for withdrawals.
However, keep in mind that the betting site you’re going for will have a pending period. PayPal has nothing to do with it. You’ll receive your money instantly after the betting site has processed your payment.
It’s Secure
PayPal features some of the strongest security protocols known to man. It’s regulated by the Financial Conduct Authority (FCA) in the UK. FCA is a rigorous organization that works to ensure the mass’s safety.
Every time you use PayPal, you’ll need to verify your phone number with an OTP (One Time Password). So, no one except you can use it to send or withdraw money. The data protection the company used is very advanced. It includes encryption, email confirmations, and a security key (optional). It’s also very aware of the global situation and takes prompt actions for safeguarding.
Wide Availability
Although we’ve covered this aspect already, it’s one of the main reasons you go for betting companies that use PayPal. You’ll find betting companies, online merchants, retail shops, petrol stations, and whatnot accepting PayPal payments.
How to Stay Safe Using PayPal for Online Betting?
The first obvious thing is not to share your PayPal account password with anyone. Only you should have access to it so that no one can use it even if they wanted to. Then, you should always play at licensed bookmakers because they’re liable to the licensing authority if something goes wrong.
Another security practice is updating your password from time to time. Don’t use the same one for longer than 90 days. Also, don’t click on random emails and links that seem to be from PayPal. This method is one of the most targeted for Phishing in the world!
Last but not least, don’t save your bank details or card numbers in the PayPal account. This way, even if your account gets hacked, the sensitive information is safe.
Wrapping Up
Anyone who’s used PayPal in the past will agree that it’s a fantastic payment method. Thousands of accounts use PayPal every day for cross-border transactions at the lowest possible cost. Many banks even accept direct deposits from a PayPal account to save time.
In an online betting context, the method is compared to none. You can find lots of betting companies that use PayPal that are also safe by BetZillion standards. Just be sure to check the list of the best PayPal bookmakers before you decide.
This guide has been brought to you by a betting expert from BetZillion, one of the premier betting companies of our time. So, stick to the suggestions and have a great time out there!