Which Sportsbooks Use Paypal? Guide to Using Paypal for Online Sports Betting

<p>AP Photos</p>

AP Photos

author favicon
Matt ModiJune 13, 2022 at 03:12 PM

In this document, we will detail PayPal and how it’s mixed with sports betting and sportsbooks. 

Can I use PayPal on Sports Betting Sites?

Yes! Pretty much every sportsbook allows you to withdraw and deposit using PayPal, as long as mobile sports betting is legal in that state. So, in New Jersey, for example, almost every legal sportsbook in allows users to use PayPal. 

Which Sports Betting Sites Allow PayPal?

A list of our favorite books that allow PayPal is below:

If there is a book that you use that is not listed above, you can pretty easily find out whether or not you can use PayPal. You just need to go to the withdraw/deposit section of the book and see if PayPal is an option under payment methods. Below is a screenshot of an example.

PayPal deposit on BetMGM
Via BetMGM

Is PayPal Safe to Use on Betting Sites?

100%. Since PayPal is such a popular payment method in other ways not involving sports betting, it is extremely safe to use. 

PayPal uses safe security protocols and encryption to ensure that all transactions are handled securely. In a world where there have been massive data breaches, so far PayPal has managed to avoid such issues. Overall, they have a good reputation and go to great lengths to ensure your privacy. 

How Long Do PayPal Transactions Take?

Depositing money into your sportsbook account using PayPal happens instantly. So, as soon as you confirm the deposit, the money will show up in your sportsbook account. This is why PayPal is so popular to use. Users don’t want to wait a couple of days before they can start placing wagers.

Withdrawing money, on the other hand, will take a couple of days before it shows up in your bank account. To be fair to PayPal, it is this way with literally any payment method one could use to withdraw money into an account from a sportsbook account. The actual processing time can vary from book to book, but overall it will be a couple of days as additional checks and verifications need to be performed.

Are There Fees Associated With PayPal?

Sportsbooks that offer PayPal as a payment method will not charge you any processing fees when you deposit using PayPal. So, the service itself is free. But, with that said, if you are depositing money into your PayPal account using a credit or debit card there are fees associated with that, which are currently 2.9%. 

If you are able to use an existing PayPal balance to deposit into your sportsbook account, or if you fund your PayPal account using a bank transfer as opposed to a card, then no fees will be charged. 

Pros/Cons of Using PayPal on Sportsbooks

Users like using PayPal because it provides sports bettors with a way to deposit/withdraw money into a sportsbook account that is secure, private, and reliable while also being fast. The main benefit, though, is users like being able to deposit money into their account without needing to disclose their credit card or bank account information. 

This last point can provide peace of mind to users, and also provide a way to deposit money into a sportsbook account even if the user’s bank refuses to process transactions to and from gambling sites. Despite being legal in some states, some major banks have a no gambling transaction policy. PayPal gives users a way to get around this. 

The only real con associated with PayPal is the processing fee of 2.9% if you use a credit or debit card to deposit money into a PayPal account. 

How to Create a PayPal Account

Luckily, it is very easy to create an account. Below are the steps:

  • Go to the PayPal website and click on the Sign-Up button to start
  • Select personal account, NOT business account
  • You will be asked a series of questions regarding personal information such as name, email, mailing address, and phone number. Then, once you enter that information, agree to the terms and conditions
  • Verify your account by clicking the link in the verification email sent from PayPal
  • Continue to the next section where you will fund your account. This is where you can either link a bank account (which has no fees associated) or you can link a card that has the 2.9% processing fee.

Related Posts

news-image

Really long fake post Title

Category

news-image

Really long fake post Title

Category

news-image

Really long fake post Title

Category