Can PayPal be used for gambling? Where can I gamble with PayPal? Even though over 12 years have passed since PayPal reopened its doors to slots sites, players still do not know if they can deposit. PayPal’s policy and legislation, which is becoming increasingly strict in several countries, have played a major role in this; especially for UK slot sites that accept PayPal things have become quite difficult as we will see below. In this article, we will give you all the answers you need and we will present you with the best and new slot sites with PayPal.
Best UK Paypal Slot Sites
Paypal On Mega Reel Sites
From a list of four payment methods that are available at Jumpman Gaming sites, PayPal reigns supreme as one of the most popular e-wallet options you will find. The mention of an e-wallet suggests that payments are done instantly. Who wouldn’t want that? It is thereby explained why the company is prefered by many players on Mega Reel sites.
Talking of instant/quick payments, deposits will take less than 1 minute to be processed with withdrawals taking less than 24 hours after the online slot site approves the transaction. PayPal works easily and will act as a middleman between your funding source and your online casino, who is the merchant. With a PayPal account that is free to create, you can fund your account via bank transfer or debit card and send funds directly to your account with only an email address required.
Currently, most Mega Reel sites have set their PayPal limits at a minimum of $10 and a maximum of $1000 on the deposits. A tip from us! Remember to always input the promotional codes we have provided on our platform while making a PayPal deposit. This will activate all the exclusive bonuses we have negotiated for you!
PayPal Slot Sites And The New UK Gambling Act
As of April 2020, legislation in the UK was passed banning credit card deposits on online casinos. The ban was extended to the use of PayPal that acted as an intermediary on the real money transactions between credit cards and slot sites.The aforementioned legislation was established as an effort to curb the gambling problem in the UK and the first step was to ensure that punters do not get into debt by using money that they don’t.
However, it is important to note that PayPal operations are not banned in the UK. You can still fund your PayPal account from your bank account or a debit card, ensuring that you will not be gambling with borrowed money. Further gambling regulations are expected to be reviewed and more developments including the complete ban of e-wallet options, such as PayPal, may occur.
Just so you know, you can still play slots with PayPal deposits provided your funding source is from your bank account or debit card. We will keep you updated on any regulation changes. Keep in touch!
What Gambling Activities Does PayPal Prohibit?
PayPal is one of the e-wallet options with strict policies all to the benefit of the punter. This includes the prohibition of any gambling activity transaction carried out by a merchant (online casino) or any account holder located in the US or any gambling activity carried out in an illegalized jurisdiction.
PayPal also prohibits slot sites that operate in an illegitimate jurisdiction (an area/country/region where online gambling is illegal) and goes further to ensure that the casinos they approve will not accept players from the US, or players from jurisdictions that online gambling is illegal.
Even when operating in a jurisdiction that legalizes online gambling activities, PayPal prohibits the following activities unless the merchant is approved to transact:
- Games of chance and skill: Include any activity that requires an entry fee and has a grand prize.
- Casino games: Whether virtual or physical including blackjack, roulette, baccarat, slots, pai gow, keno, craps, sic bo, or poker.
- Sports betting: Includes betting on any sports event against a betting exchange or bookmaker.
- Horse or greyhound racing: Include gambling on races such as off-track betting, sweepstake betting, pari-mutuel betting, simple betting, and bookmaking betting.
- Person-to-person betting
- Gaming machines: Designed for playing a game of chance, having a slot for inserting real money, or designed to offer money prizes or money’s worth.
- Gambling-related ventures: Include forums facilitating person-to-person betting, intermediaries facilitating any betting process, or securing any form of an offshore gambling license.
However, while there is the prohibition of PayPal slot sites for US players, they can use PayPal to deposit and withdraw on daily fantasy sports sites that are legal in many states. While many states categorize them as skill games, PayPal places an exception to this. Read more here.
Does PayPal Buyer Protection Work When Gambling Online?
Despite the positives that come with PayPal as a payment option on most PayPal gambling sites, keep in mind that once a deposit is made, you will not be able to claim your money back for any of the services you get at the casino.
In April 2017, PayPal updated its Buyer Protection Policy and stated that the company DOES NOT cover any ‘gambling, gaming, or activity that involves a chance of winning a prize. This simply meant that you cannot hold PayPal responsible for any real money deposit you make. This was an action taken to prevent any claim of refunds via Buyer Protection policy for any player who would want to be compensated after a bad run of losses in the casino.
The policy came after a huge outcry by problem gamblers with some blowing up to £150,000 in a day through PayPal deposits. Many opted to use the e-wallet option since no such tough limits were placed as those imposed by banks. A classic example was a problem gambler who had reached bank limits but still managed to deposit £2,000 after every few minutes via PayPal from his debit card to continue gambling. Another problem gambler raised his concerns towards PayPal suggesting that the company introduced a blocking mechanism forcing merchants who register with PayPal follow a sort of a protocol that flags problem gamblers according to their records and has their transactions declined.
You are advised to always check the protection policy provided on the PayPal gambling sites before any game. PayPal will guarantee safety to players only by sending a pre-approval message before any transactions are carried out. This is stated in their Acceptable Use Policy. The regulator, in our case the UK Gambling Commission, will be tasked with handling rogue casinos and not PayPal.
A Guide To PayPal Slots
Along with every basic information you need to know, including whether you can play slots with PayPal deposits, let’s take a look at how, where, and why!
PayPal vs Other Wallets
Neteller and Skrill are the other popular alternatives to PayPal found on UK slot sites. But why does PayPal still rank at the top of them all? In fact, many different reasons and factors combined have created the background which led to its superiority. This can be grouped into four main aspects:
- Withdrawal fees: No charges will be placed on PayPal as opposed to the €5.50 and €7.50 charged to withdraw via bank account on Skrill and Neteller respectively.
- Deposit fees: On Skrill and Neteller will charge 2.25% – 4.95% from cards, 3% from Neteller/Skrill wallet, and 7% from PaySafeCard.
- Currency fees: PayPal’s fees vary from country to country with a 3.9% charge placed on Skrill and Neteller. VIPs will have slightly lower charges.
- Account fees: No charges will be placed on the accounts. However, after 12 months of inactivity on Skrill and Neteller a €3 fee will be applied to your account for every month.
PayPal deposits are also eligible to claim bonuses from tons of slots sites. However, this is not the case with Skrill and Neteller deposits that will be ineligible to claim any deposit bonus from all the UK slot sites as stated in the terms and conditions under every bonus. Be sure to check!
How to deposit and withdraw with PayPal
Want to make a quick deposit and withdrawal at any of the new PayPal slot sites? The process is straightforward. The only requirements needed will be the following:
- Α PayPal account
- A funding source
- An online casino account
The deposit process on many PayPal casinos will be the same. Yako Casino, for example, accepts PayPal deposits and the process will be as follows:
- Log into your casino account
- Go to the ‘Deposit’ option and choose ‘PayPal’ as the option to deposit with
- You will be redirected to PayPal checkout where you will log into your account by providing your email account and password
- Enter the amount of deposit
- Complete your transaction
Here is a quick withdrawal process at Yako Casino:
- Open your PayPal account
- Go to ‘My Account’ and click on the ‘Withdraw’ option
- Select PayPal as the cash out method
- Enter the amount to withdraw
- Complete your transaction
Other sites may have the deposit and withdrawal options hosted on Cashier or Banking.
The Cons Of Gambling With PayPal
Not all casinos accept it
In spite of its huge popularity and acceptance in over 200 countries globally, many slot sites do not accept PayPal. These sites include those that accept US players to gamble online. With the US one of the major gambling hubs, this greatly decreases the number of casinos accepting PayPal; only Daily Fantasy Sports platforms in the US will accept PayPal. Moreover, some online casinos are deterred by the strict policies that are put in place by PayPal with some considered to be rather harsh by some online casinos.
Withdrawal fees in some casinos
Free transactions are becoming a normal phenomenon on the gambling platforms and having a fee charged on transactions such as withdrawing,may put off a host of players. Some online casinos have imposed a fee on PayPal withdrawals and this has led to many players opting for alternative options such as Neteller, Skrill, ecoPayz, among other instantaneous options. Moreover, some casinos do not have a fixed fee. Instead, they place a fee depending on the amount of withdrawal.
Not available in many countries
Despite its availability in 200+ countries that might be a great number to many, other online casino payment methods such as bank transfers have had a better customer base and have dominated the payment sector. Bank transfers are available in all countries while PayPal is not. Additionally, not every country among the 200+ legalizes online gambling and as a consequence, PayPal wouldn’t serve the interests of any gambling punter explaining why it’s not yet adopted in most countries as an online casino payment option.