Day-by-day, sports wagering with PayPal is gaining popularity as it is the more convenient and highly secure payment method. In this article, we will list the legal sports betting sites that accept the PayPal payment method and why it should be your preferred option. We will also discuss the pros & cons, steps to deposit & withdraw with PayPal, a brief history about the company, and how it entered the US online betting market.
Sportsbooks That Accept PayPal
All of our recommended online bookmakers offer secure transactions every time along with a full range of markets to bet on. With our top-rated list of PayPal sports betting sites, you can enjoy online sports betting on the NBA, NHL, MLB, college sports, and even soccer quickly. Here is the full list of sports betting websites that accept PayPal.
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One of the oldest gambling and sports betting operators – Caesars – allows you to deposit and withdraw using PayPal. It recently acquired William Hill and expanded its sports betting operations in the US. So, sports bettors present in Indiana, New Jersey, West Virginia, Indiana, Michigan, Colorado, Iowa, Tennessee, and Virginia can use PayPal mode of payment at Caesars sportsbook.
Unfortunately, Caesars doesn’t accept credit or debit cards to deposit funds through PayPal. Therefore, you would need to link PayPal to your bank account as your preferred payment. There is a $10 minimum withdrawal requirement, and they take around 3 business days to process withdrawals through PayPal.
Provided you are present within the state borders of New Jersey, 888Sport accepts PayPal deposits and withdrawal options. Depositing money into 888Sport using PayPal is completely free and the minimum deposit requirement is $10. Though deposits are fast, PayPal withdrawals take around 3 to 4 days to process.
Bet365 sportsbook globally accepts PayPal as a mode of payment. NJ Bet365 players can enjoy instant deposits using PayPal. If you deposit using PayPal, all withdrawals from Bet365 will be processed to the same PayPal account.
Bet365 will not apply any charges for withdrawals made by PayPal and the funds will be credited to you within 24 hours of your request. There is a minimum withdrawal limit of $10 and a maximum of $10,000.
BetMGM sportsbook is legal in several US states including Colorado, Indiana, Iowa, Michigan, Nevada, New Jersey, Pennsylvania, Tennessee, and West Virginia. Players who are present in these states can deposit and withdraw using PayPal. Depositing money into a BetMGM sportsbook account using PayPal is free and pretty fast. In fact, your funds will be available within 10 to 20 seconds.
Unlike other sports betting sites, BetMGM gives you the ability to withdraw using PayPal even if you have deposited with a different banking option. BetMGM offers a welcome bonus along with a casino bonus. Find the BetMGM bonus code/promo code on our BetMGM bonus page.
FanDuel is one of the top Daily Fantasy Sports websites which also offer legal sports betting in several states. The PayPal payment method is accepted at FanDuel in all states where the sportsbook is legal and live including Colorado, Iowa, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, and West Virginia.
Usually, once the withdrawal is made, it takes 48 hours to see your money on your PayPal account. Sometimes, you might also need to wait up to 72 hours if traffic is high on FanDuel.
Betway made its US debut with a soft launch in New Jersey on August 18, 2021. The sportsbook significantly expand its geographic footprint through its acquisition of Digital Gaming Corporation, which has market access in ten states.
Bettors can deposit and withdraw the money using PayPal payment option in all states where Betway is live. You can complete the transaction using either the funds in your PayPal balance or using the bank account that is linked to your PayPal account. Betway will process the deposit transactions instantly once PayPal approves the funds.
PayPal deposit and withdrawal option is accepted at DraftKings sportsbook since 2018. The PayPal payment option at DraftKings has a reputation for quickly facilitating transactions. The minimum deposit requirement is $5 whereas the maximum deposit limit is $2000.
Golden Nugget Sportsbook
Golden Nugget takes not just casino games bets but also sports bets. You can take advantage of the site’s single wallet system to make both types of bets using the same account. Meaning, you can deposit money into the Golden Nugget account and use the cash to play casino games and to bet on sports. PayPal deposits are free and instantaneous. Whereas, withdrawals take a couple of hours up to 2 working days for payment processing, depending upon the traffic.
What is PayPal?
PayPal is one of the most popular ways to deposit and withdraw at online betting sites. It is one of the most widely-recognized e-wallets in the world. It facilitates users to make and receive payments without revealing personal banking information to one another. Certainly, PayPal is not just useful for sending and receiving payments but also to make purchases online, receive payments for services rendered, send money to friends, and much more from the comfort of home.
PayPal has been a #1 choice among other eWallet options because of its security features. The digital wallet company never had any significant data breaches and has always been in the top spot for offering the best security and innovation for their customers. This shows their commitment to security towards their software and customers. Indeed, it is available at most of the US online gambling sites because of its security, simplicity, and low fees.
History of PayPal in online betting
PayPal was established in California in December 1998 as Confinity – a simple third-party online money transfer service allowing quick and anonymous transactions. Max Levchin, Peter Thiel, and Luke Nosek were the founders. The company didn’t see success with this business model. So, in 1999, they changed focus to a digital wallet and launched the first version of the PayPal electronic payments system.
In 2002, PayPal permanently stopped processing online gambling transactions after its merger with eBay. At that time, about 8% of PayPal’s processing operation came from gambling transactions.
PayPal re-entered the online betting business in 2009 after deciding to process for the online gaming industry. This time, PayPal only offered its services within the sector where sites were fully legal and licensed in the jurisdictions. The UK was the only country where PayPal was available as a deposit and withdrawal option. Betfair was the first online betting site to use PayPal and other top betting sites such as William Hill, Bet365, Ladbrokes, 888, Bwin, PartyPoker, and Paddy Power also started to accept.
In 2015, PayPal returned to the US market as an independent company, working exclusively with gambling sites that are 100% legal and licensed. According to recent statistics, PayPal has over 361 million active users as of Q3 2020.
Advantages of Using PayPal for Sports Betting
PayPal is the most trusted eWallet option around the world by people looking to send and receive money. The company assures the best security and privacy for using PayPal on sportsbooks. In addition to security, PayPal offers several other advantages over other modes of payment. Here are the pros of using PayPal for online sportsbooks:
Anonymous Online Payments
Depositing money into an online sports betting site is not an easy job. Even in regulated states like New Jersey and Pennsylvania, your financial institution might interfere and wrongly block the transaction made by using a credit/debit card or online bank account. You can solve this issue by using the PayPal payment method.
Always choose a betting site that accepts PayPal. First, you need to fund your PayPal wallet with a debit or credit card. Then, transfer the cash anonymously from PayPal to your bookmaker account.
Widely Accepted by Gambling Sites
Though there are many e-wallets such as Skrill, Google Pay, Amazon Pay, and Neteller, PayPal is the most widely accepted eWallet provider at US sportsbooks. Just like a bank transfer or credit/debit card payment, PayPal has been included as a standard payment method at many legal bookmakers in the US. You can also make mobile sportsbook transfers through the PayPal app.
The PayPal mobile app is a great addition to the service. The mobile app interface is smooth where you have full control of the tasks on your account, including making a payment, requesting money, and transaction history.
Coming to online sports betting, all you need is the PayPal mobile app installed on your mobile phone. Upon your deposit or withdrawal request, the bookmaker mobile app will execute an API launching a new private window where you need to identify yourself and enter PayPal account credentials to confirm the transaction.
Just like a legal US sports betting site that uses Geo-Location software to know the customer’s location, PayPal also utilizes a location verification feature to identify a user’s location when making the transactions.
This feature ensures deposits and withdrawals are made without any issues and authorizes the payments only in legal online sports betting jurisdictions.
Depositing money using PayPal is instantaneous. As you will already be ready with your credit card, debit card, or bank account details on PayPal, your request for a deposit from PayPal will be instant. Meaning, the funds will appear right away on your sportsbook account when you move it from your PayPal wallet.
Using PayPal for withdrawals is equally easy as depositing. On average, PayPal withdrawal takes anywhere between a couple of hours to a day to complete a transaction. That’s much quicker than other eWallet options. Even making a withdrawal to a bank account or debit card takes more time than PayPal withdrawals.
As soon as the betting site releases the funds, you will receive an email notification from PayPal alerting your incoming payment. In less than 2 hours, the funds from your PayPal wallet can be sent to your bank account. You can also avoid PayPal fees when you move money to a US bank account. Meaning, withdrawing from your PayPal account directly to your bank account is absolutely free.
Take advantage of PayPal Credit Card
Gaining popularity each day, PayPal is providing its own brand credit, debit, and prepaid cards. There is no annual fee for a PayPal credit card, however, the minimum credit score needed for good approval odds is 700 due to the card’s high-interest rate.
You can benefit from cashback and reward points on purchases with these cards. In fact, you can earn 2% cashback for making the payment using PayPal MasterCard cards.
Other Factors to Consider
One must keep an eye on certain factors while using PayPal on gambling sites. These factors will make sure you know what you are dealing with for smoothly using the PayPal service on betting sites.
You need not worry about PayPal transaction limits unless you are a high roller. The minimum withdrawal limit is $20, so you’ll need to make sure you win a few $5 bills before you request a withdrawal.
The maximum individual withdrawal limit per transaction is $10,000. In addition, there are also daily, weekly, and monthly withdrawal limits which depend on various factors including the sportsbook withdrawal limit and player’s reputation.
The payment processing times for PayPal transaction depends on various factors. Usually, deposits are instant and withdrawals could take anywhere from a couple of hours to 2 days.
The first time PayPal withdrawal would take much time as you would need to submit the Identity document for verification and PayPal has to verify the document to make sure there isn’t any fraudulent activity. Once the account and your document are verified, even the withdrawals are much quicker.
External factors such as online traffic and sports betting site’s processing time could impact the speed of your PayPal transaction.
Using PayPal service is absolutely free. The eWallet doesn’t charge you any money for depositing an online sportsbook account using PayPal. Because the company uses the geo-location feature to make sure transactions are done within legal sports betting states, the only fee you might be charged is the domestic transfer fee. For loading money to your debit cards or credit cards from your PayPal account, you would need to pay a 2.9% transfer fee plus a $0.30 fixed fee in the US.
Remember, these domestic charges don’t apply when depositing money into your gambling account or directly to your bank.
In addition, PayPal charges you a minimum fee when you request a withdrawal for any transaction. The commission rate is around 3.4%. The charge depends on the amount requested for withdrawal classified according to tiers. For smaller amounts, the commission rate is as low as 2.4%.
When you request a check for your withdrawal instead of a credit/debit card or online bank transfer, PayPal charges you with a $5 fee.
How to Deposit at Online Sportsbooks using PayPal?
Once you have your PayPal account up and running, it’s really very simple to fund your online betting account. Most online bookies cover all fees for transfers between gambling websites and your Paypal account. Therefore, transfers to and from a gambling site are free.
It’s easy to get register and start playing at betting sites that accept PayPal. Here is the step-by-step process:
1 - Sign up for a PayPal account
Registering for a PayPal account is completely free. You would need to be 18 years or above to open a PayPal account. Visit PayPal’s official website or download PayPal mobile app on your iOS or Android device. Once you are on the PayPal homepage, follow the below steps:
- Click the ‘Signup’ tab available at the top right of the homepage.
- Select Personal Account and click Next.
- Enter your phone number and click ‘Next’. You’d need to verify your phone number by entering the code sent to your mobile number.
- Enter your email address and create a secure password.
- You would also need to enter personal information such as First Name, Last Name, and Home Address along with zip code.
- Read and accept the terms & conditions, and submit the registration form.
2 – Add cards/bank account to your account
As your new PayPal account is active, you can now link your banking details for easy transfers later. Players can add all types of credit cards and debit cards including Visa, MasterCard, or American Express. In addition, you can also register your checking account details as a payment method or apply for a new PayPal prepaid card.
3 – Verify your account
Verification of the account is mandatory. Only verified PayPal accounts will be eligible to send/receive funds. Once the registration process is complete, you’d need to verify your email. You can do that by clicking on the PayPal Verification Link sent to your email.
4 - Sign up and log in to the online sportsbook
To deposit money using PayPal and place real-money sports wagers, you must have a valid online sports betting account. You must be at least 21 years of age to create a sports betting account.
Make sure you create an account with the sportsbook that accepts PayPal as a mode of payment. All betting sites in the list that we have provided at the top of the page accept PayPal. From the list, create an account with your preferred online sportsbook by entering the required personal details.
5 – Send funds to PayPal betting sites
As you are ready with an active sports betting account and a PayPal account with your banking details linked, you can now deposit money into the sportsbook using PayPal. Follow the below steps:
- Find the cashier section on the betting site.
- Choose the PayPal deposit method from the available list of deposit options.
- Enter the amount you’d like to deposit.
- You’ll be redirected to the PayPal website. Log in to your PayPal account.
- On the PayPal account page, you can review the payee information along with the amount that needs to be sent.
- Approve the payment. Your funds will be transferred to the sportsbook account.
Usually, the deposits done through PayPal are instant. Once the amount is transferred, you can start wagering on the PayPal betting site.
PayPal Gambling Sites FAQs
Can I use PayPal on betting sites?
Yes, you can use PayPal to deposit money on sports betting sites. However, it depends on where you are present. PayPal payment option is only available on sportsbooks that are legal and fully licensed in their resident jurisdictions.
For instance, if you are a resident or visiting states like New Jersey, Indiana, or West Virginia can use PayPal because sports betting is legalized in the states and allow PayPal as an option. Whereas in unlicensed areas likes Ohio, Massasuchetts, or Kentucky, players cannot use PayPal on betting sites.
Is it possible to buy Bitcoin using PayPal?
Yes, you can buy Bitcoin on the PayPal official website. In October 2020, Paypal started to sell Bitcoin and 3 other common cryptocurrencies on its platform. However, users can only buy and sell their Bitcoins within Paypal. You won’t be able to use your coins outside of its platform. Meaning, users cannot withdraw the coins or even transfer them to other PayPal users.
Do online betting sites using PayPal have associated fees?
Usually, PayPal transactions are free, and online betting sites do not charge a fee to deposit or withdraw with PayPal. There is no fee to use to deposit using an existing PayPal balance or transferring funds via an online bank account.
On the other hand, PayPal charges around 2.9% to deposit using a debit card or credit card.
Why do I not see PayPal as a withdrawal method?
The PayPal withdrawal option is only visible if you have made the deposit using the same mode of payment. In other words, you can see PayPal as a withdrawal method only after you successfully deposit using PayPal. So, players who deposit money using credit/debit card, bank transfer, or prepaid card will not be eligible to withdraw using PayPal.
How do I withdraw from a betting site using PayPal?
Withdrawing money from a betting site using PayPal is an easy process. One can only withdraw using PayPal if he/she has deposited money using PayPal as a mode of payment.
Here are the steps:
- Log in to your betting site account.
- Go to the withdrawal page.
- Choose PayPal as your preferred method.
- Enter the amount you would like to withdraw and confirm.
- Done! The money should be in your PayPal account within 48 hours.
Be aware that the first time you withdraw winnings from PayPal betting sites, you may need to complete the “Know Your Customer” steps before your cash out will be processed. You may need to upload a valid ID or document such as a Birth Certificate, Photo ID, Bank Statement, Payslip, or Utility Bill.
Do not worry, this is to avoid money-laundering and any accusations of fraud.
Is PayPal safe to use depositing at betting sites?
Yes, PayPal is considered one of the safest methods to deposit money at betting sites. In fact, all eWallet deposit options are safe and secure. Particularly, PayPal services can only be used for betting on licensed sites in areas where strong regulation of gambling exists. This means the company strictly follows laws and regulations making it much safer for its customers.
If you use PayPal to deposit money into your sportsbook account, the betting site won’t receive sensitive financial information like your credit card or bank account number. Meaning, PayPal acts as an additional layer of security between your bank and the betting site. Also, PayPal uses special security measures to safeguard your financial details and provides 100% protection against unauthorized payments sent from your account.
What are the main pros and cons of using PayPal at betting sites?
Here are the advantages and disadvantages of using PayPal at sports betting sites:
- Safest ways to pay online as it comes with an extra layer of protection.
- Using the PayPal service for online betting is completely free. In other words, you will not need to pay a single penny in fees when depositing or withdrawing funds back to your accounts.
- Many popular bookmakers accept this form of payment processor.
- PayPal offers instant deposits such as credit cards, debit cards, and electronic bank transfers.
- Instant withdrawals are available. However, there is a fee worth 1% of the amount transferred.
- When betting with PayPal, your bank/credit card company might charge you a fee.
- PayPal withdrawals are slower than other eWallet options. In fact, PayPal withdrawals take up to 24 to 48 hours to process.
Why do DraftKings and FanDuel accept PayPal?
The top Daily Fantasy Sports operators DraftKings and FanDuel also offer online sports betting in several US states. They always look out for the customer’s needs and provide a wide range of payment options or deposits and withdrawals. As PayPal is considered the best banking option in terms of security, DraftKing & FanDuel sportsbooks accept PayPal in all jurisdictions that they operate.