What do you need to know about PayPal Gambling?

PayPal is one of the most popular and most widely accepted e-wallets all over the world. The platform is available to both US and non-US online gambling establishments. PayPal gambling is highly recommended for players around the globe. The reason for this is not farfetched. It is still one of the top e-wallets sites that have high security and simplicity features. It also comes with very low fees. Many of the online casino platforms accept PayPal as a method of payments for both deposit and withdrawals.

A Brief History of PayPal Gambling

In a couple of years, PayPal will celebrate its twentieth year of providing quality and secured e-wallet financial services to internet users. PayPal can be traced back to the year 1998 when four partners established a company called Confinity. Confinity shared an office building with another financial services company that was owned by Elon Musk. And, rather than compete with each other, two companies joined forces in 2000 and rebranded into the famous PayPal.

Currently PayPal offers

PayPal started full operation in 2001. PayPal waxed stronger especially when it became eBay’s most popular payment option. The implication of this is that the more eBay grew and gained popularity in the United States and across the world, the stronger and more popular PayPal became. After a while, PayPal decided to explore other markets outside eBay. For some years, PayPal offered eBay users the most convenient way to receive and pay for auctions.

Currently, PayPal offers its services to a global audience. PayPal now operates in over two hundred countries of the world. In the July of 2002, eBay bought PayPal for $1.5 billion. In the year 2003, PayPal left the US gambling market and stopped acting as a payment processor company at online gambling sites. The company was absent from the gambling market scene for seven years before making an appearance again. Although the company is back on the gambling scene, it is still not available to the US gambling market.

Many top-rated gambling platforms currently accept PayPal. However, the Americans cannot use PayPal gambling, but for gamblers outside of the United States, PayPal is an excellent payment method for gambling operations.

Transaction Speed and Fees

Many gambling sites take care of all fees for transactions between your PayPal account and the gambling sites. This means that a transfer from and to a gambling site from your PayPal account is free. However, if you make use of your debit or credit card to fund your PayPal account, you will be charged a 2.9% fee on the deposit. If you deposit bank transfer, it will be for free. Withdrawal from your bank account from PayPal is also free.