PayPal is one of the world’s leading e-wallet providers and has been a cornerstone of casino payment methods since its inception in 1998. Thanks to its low fees and fast withdrawals, it quickly became one of the world’s leading payment providers. Many casinos will process PayPal transactions within 24 hours, meaning that you don’t have to wait days to receive your money as you do with other methods like Paysafecard, Echeck, Visa, or Interac. While PayPal charges 2.9% fees on business transactions, many PayPal casinos decide not to pass that fee onto their customers, offering free deposits and withdrawals - another reason they’re so popular.
While PayPal casinos are popular for a reason, there are some drawbacks to using PayPal as a payment method at an online casino. Let’s take a closer look at the pros and cons.
Pros
Fast Withdrawals - PayPal is one of the fastest casino payment methods for processing transactions. While many banking methods take 2-3 business days before your withdrawal reaches your account, you can often receive payment to your PayPal account within 24 hours. This makes it the perfect payment method for people who want to access their winnings as soon as possible.
Security Features - As one of the world’s leading payment providers, PayPal takes customer security seriously. They employ a vigilant fraud monitoring and prevention team to ensure that your account remains secure, as well as state-of-the-art data encryption software, TLS, 2FA, and many other security tools.
Mobile Application - Another benefit of using PayPal to manage your casino bankroll is that they have a mobile application that you can download and use from your phone. This means that you can deposit and withdraw while gaming from your phone and manage your money, all from the same device.
Cons
Availability - Despite the fact that PayPal is one of the world’s most popular casino payment methods, not all sites have it as an option. For example, some jurisdictions do not allow e-wallets to be used to fund casino sites. Even in the ones that do, like Canada, some sites do not want to pay the 2.9% processing fee and choose not to host the provider on their platform.
Fees - Most online casinos in Canada have cottoned on to the fact that they’ll get more business if they cover the processing fee for their customers, but some will still insist on charging their customers processing fees. PayPal has a 2.9% processing fee for business transactions, which takes a decent chunk out of your deposit.
Customer Support - Unfortunately, PayPal customer support leaves a lot to be desired. Due to the platform's size, many people encounter issues, so you often have to wait quite a while before your issue gets resolved. This is a particular problem if you’re playing on a site that often has issues and can often be more of a headache than it’s worth.
How To Deposit At A PayPal Casino
If you think that PayPal is the right payment method for your casino deposits, you’ll need to get familiar with it. PayPal is an extremely easy online payment method to use, but just to make things as easy as possible, we’ve created a handy guide to help you deposit to PayPal casinos.
Log on to your casino site and go to the Cashier section.
Select PayPal from the list of deposit options and enter your deposit amount. At this stage, you may also be prompted to enter a bonus code, depending on which casino you choose.
Log into your PayPal account with your email address and password.
Double-check the deposit amount and click the “Pay Now” button.
It’s as easy as that!
PayPal is at its most secure when you have to confirm each transaction you make. By logging in over a secure connection, you take advantage of PayPal’s encryption technology and always ensure that you’re depositing the correct amount. You can set up “one-click payments” at some casinos, but the issue with this is that if you make a mistake when typing your deposit amount, you have no chance to correct it before the transaction is processed.
It’s also important to look for any bonuses and promotions that the casino is running before depositing with PayPal. The best PayPal casinos will offer special bonus codes for players depositing with PayPal if they use a bonus code, so make sure you look for these codes before you deposit.
How To Withdraw At A PayPal Casino
Just as important as being able to deposit to PayPal casinos is being able to withdraw from one. Luckily, withdrawing from a PayPal online casino is just as easy as making a deposit, so you don’t have to worry about navigating any confusing processes. If you want to ensure things go as smoothly as possible, check out our helpful guide below.
Log on to your chosen casino site and go to the Cashier section.
Go to the withdrawals page and select the PayPal payment method. You will only be able to use PayPal to withdraw if you’ve already used it to deposit to the casino.
Enter your withdrawal amount and confirm that you are sending the payment to the correct account.
Click the “Withdraw” button.
Once you’ve followed those steps, your payment will be submitted and sent for processing. You can often expect to receive your money within 24-48 hours, depending on how quickly the casino processes your withdrawal.
Best PayPal Casinos in Canada 2022
Now that you know how to deposit and withdraw from a PayPal casino, you need to find the one that best suits your needs. Almost all of the best online casinos in Canada accept PayPal, so you have plenty of choices to pick from. However, if you’re struggling to compare them all, here are the three that we think are the best of the lot.
What is the minimum deposit amount at a PayPal casino?
The minimum deposit amount required at most PayPal casinos is $10, although so sites may have higher or lower minimum amounts.
Do the best PayPal casinos charge fees for depositing?
Most PayPal casinos don’t charge fees for deposits or withdrawals, despite a 2.9% processing fee for business transactions. However, some sites will pass those fees on to their customers, so always double-check before depositing.
Can I withdraw my winnings with PayPal?
Yes, you are able to withdraw your winnings to your PayPal account. All you need to do is choose the PayPal payment option when withdrawing. However, most sites require you to deposit with PayPal before you can use it as a withdrawal method.
Is PayPal available in many casinos?
Thanks to its popularity amongst casino players, PayPal is offered at the majority of online casinos across Canada.
How fast are the deposits and withdrawals at PayPal casinos?
PayPal offers one of the best deposit and withdrawal times compared to other payment methods. All deposits are processed instantly, and most withdrawals are completed within 24-48 hours, so you don’t have to wait days to receive your money.
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