Gambling with PayPal
Online casinos are growing in popularity and seasoned gamblers can enjoy major winnings on these sites. Before joining a gambling site, it is important to understand how the casino works and what kind of monetary transfer options are available.
PayPal for Online Gambling
PayPal is a secure e-wallet option that is very popular among U.S. citizens, although PayPal is not an acceptable banking option for citizens of the U.S. or Canada at online casinos. However, because PayPal is used for gambling in many other parts of the world, it is very likely that as soon as the U.S. begins regulating online casinos, the variety of banking methods will expand to include PayPal for citizens of the U.S.
Setting Up a PayPal Account
The entire PayPal system is very user-friendly, and even though U.S. and Canadian gamblers aren't allowed to use it for banking on gambling sites, this program can still come in handy. To sign up, members must have a preexisting bank account. PayPal requires some banking information in order to link the new PayPal account to the bank account. PayPal makes online shopping a breeze, and debit/credit cards are available.
Transferring Earnings and Making Deposits
Because U.S. citizens can't fund bets directly from a PayPal account, gamblers must use the long way around to make bets. PayPal money that is intended for gambling must first be transferred to an account that the online casino has deemed as an acceptable payment option. From that account, the money can be used for betting. To transfer winnings to PayPal, simply send funds from any account to the PayPal account.
As online gambling gains speed, it is only a matter of time before gamblers in the United States and Canada are able to make use of PayPal for online gaming purposes. In the meantime, money can easily be transferred between accounts.