Since its launch in 1998, PayPal has become the leading name in electronic payments services. The reason? PayPal has a lot of benefits, especially for online gambling.

Below, we’ve summarized the perks you should expect from using PayPal to gamble at online casinos:

• PayPal is one of the quickest and easiest deposit options to use at an online casino. Forget the hassle of entering 16-digit card numbers, card holder names or expiry dates. To make a PayPal deposit, you just need to enter your username and password.

• Similar to deposits, PayPal withdrawals are also straightforward, and take less than twenty-four hours, which is quicker than credit card withdrawals that can take up to a week.

• PayPal is fast to set up and uncomplicated. All you need to create your account is an active email address, and you’ll be able to sync your PayPal account with your bank account in minutes.

• There’s even an extra level of security when you deposit at a PayPal casino. You never need to enter any personal banking information to make a deposit. Your financial details are protected by PayPal, as they’re never shared with the casino.

• PayPal also comes with a host of safety measures, including Fraud Protection, Purchase Protection and SSL data encryption.

• Since PayPal is in big demand, many of the top slot sites in the industry will accept PayPal as a deposit and withdrawal option. This means you’re spoilt for choice with PayPal online casinos.

• PayPal must approve the online casino that wants to use its services, and this acts as a guarantee that the gambling site is legitimate and trustworthy.

Before you use PayPal to deposit at an online casino, you’ll first need to create a PayPal account. Setting up an account with this e-wallet couldn’t be easier, and it only takes a few minutes. Below, we’ve created a step-by-step guide to creating a PayPal account, so you can get started with online gambling.

• Step 1

  Click “sign up” on PayPal’s website, register your email address, and create a password.

• Step 2

  Fill in some basic details such as name and home address, tick the T&Cs box, and click “Agree and Create Account”.

• Step 3

  Add funds into your account or link a credit or debit card to make payments online. And that’s it! You can now use your PayPal to deposit cash at a top Canadian online casino and start playing games.

To discuss fees, we need to bear in mind the difference between the fees charged by PayPal for deposits and withdrawals, and those charged by the casino site.

From the PayPal casino’s side, deposits are usually free, but this varies from site to site. Some may charge a “deposit fee”, but this is rare. For withdrawals, many casinos do not charge any fees either when you use PayPal, although you may find exceptions.

In the US, PayPal will not charge you anything when you’re using your existing account balance or an electronic funds transfer from a bank account. When you deposit cash as a personal payment via debit or credit card, there is a 2.9% fee + $0.30 of the total amount sent.

When it comes to withdrawals, charges may apply depending on where you withdraw your PayPal funds to. Once you have your casino winnings in your PayPal account, you can choose to send them to a bank account or debit card, two of the most preferred options for withdrawals. Depending on your location, PayPal does not charge a fee to transfer funds to your linked bank account. This applies, for example, to Australia and bank accounts in AUD.

To send money to a USD denominated bank account, there’s a fee of 2.5% of the transfer value. If you need to convert the currency of your funds to do this, currency conversion fees will apply too. For debit card withdrawals, you’ll pay a fee of 2% of the value of the withdrawal, with minimum and maximum amounts set by currency. On the plus side, withdrawals to your debit card are quick. Bank account withdrawals take at least one business day.

As you can see, some of these fees from PayPal’s end can take quite the chunk off your casino winnings, and this is why some players will prefer other payment methods. Fees may change depending on the jurisdiction or country you’re gambling from, so always check the PayPal charges you may need to deal with before depositing and withdrawing money at an online casino.

Not sure whether you want to withdraw money to your credit card, open an account with an e-wallet, or deposit with Bitcoin? We recommend you check out our guide to?online casino payment methods.