Pro and Con
- Accepted by many operators
- Extremely Secure
- Easy Verification process
- Fast deposits and withdrawals.
- Not eligible for bonus offers with most operators
Making a payment with PayPal – Step by step
PayPal, like many other e-wallets, provides the facility of online transaction both through the online website and the PayPal mobile application. Here are the steps to follow to make a payment with PayPal:
- Visit the PayPal website or mobile app: Go to the website of PayPal or download its application available on the Play store for Android users and Apple store for iOS users.
- Sign Up to PayPal: After having access to the website or application, the user needs to sign-up to PayPal, by creating an account in PayPal.
- Select your account type: After sign-up you are required to select the type of account you want to use PayPal for, either personal account or a business account.
- Get a log-in id: After selecting the account, the users are required to enter details like log-in id, email address, password etc.
- Link your account with your payment method: After giving all the information, users need to link their account with bank or card whichever they opt for.
- Operator Sign-up: When you sign-up for an operator like one of the Best Betting Sites with PayPal in India, you will get the option to choose the payment method for deposits. Select PayPal as your payment option.
- An on-screen window should pop up where you can enter the amount you want to deposit. After you click continue, login to your PayPal account, review the payment and click pay to complete the payment.
For withdrawals, simply go to the payment section of the operator and select the PayPal option for withdrawal.
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Average time of PayPal for deposits and pay-outs
Similar to other e-Wallets, the deposits made to online gambling sites through PayPal are almost instantaneous and can take a maximum of 10 minutes. However, keep in mind that your PayPal should have an adequate balance or you would need to consider the processing time required in making a deposit to your PayPal before you fund your betting account.
For withdrawals, the average time taken to complete the payout through PayPal is between 1-2 days or 3-5 days, although the period may be shorter or longer depending on the operator and their policies. Certain operators have a mandatory hold period on withdrawals, delaying the processing of payouts so that punters have time to reconsider. Also keep in mind, most operators will have a minimum withdrawal amount, so you can only apply for a payout once you reach that minimum value.
If the payout does not complete within 5 days, then you contact the customer support of the operator, followed by the PayPal customer support. The instantaneous deposits through PayPal have increased the popularity of online casinos and Sports Betting Sites with PayPal for online betting.
PayPal verification requirements
For more security, the users are asked to verify their PayPal account before proceeding with any payment. Here are the steps to verify a PayPal account:
First, the user needs to log-in to their account to verify their account.
After login the user needs to select the option of ‘get verified’ from the homepage or tabs as per the method of usage, i.e. mobile or laptop.
Once the user clicks on get verified, some details would be asked which is mandatory to be entered to get verified. If the card option is selected, the user needs to enter card details and get verifies by a 4-digit code or OTP (One Time Password) received via phone or email address. If bank account is selected, bank details and IFSC code needs to be entered along with the two deposits amounts, to get verified.
The history of Payment method
Initially established as Confinity in 1998 as a money transfer service, PayPal merged with X.com in 2000, and received its current name ‘PayPal’ in 2001. PayPal Holdings Inc. is one of the largest online payments companies to make payments through online funds transfer. Later, in 2002 PayPal was acquired by eBay as a parent company under which it witnessed a very steady growth with a profitable business which continued till the late 2010. After 2010, PayPal entered a new vision of success and acquired VeriSign payment solutions. In 2013, PayPal also acquired Braintree payments gateway which was a huge gain as a gateway of huge payment options.
Later on, PayPal purchased Bill Me Later and partnered with Google, Visa, MasterCard, FIS, Citi to provide users a number of payment options. In India, the growth of PayPal was spurred by the demonetization of 2016. PayPal has established itself as a strong financial services brand with a variety of options to assure full safety and convenience of users. As there was a need for a more secure payment method while betting on many online betting sites, PayPal took this opportunity and became one such method. Online Bookmaker with PayPal is another step towards its user attraction.
Payment method to other providers compared
PayPal being one of the largest online payment processors in the world serves millions of users at the best betting sites with PayPal. There are many online bookmaker with PayPal due to the several advantages PayPal has in comparison to other payment providers, including the following benefits:
- After signing up in your PayPal account with your credit card and bank account details you never have to disclose those details again while making payments. Thus, you need not worry about hackers downloading your account data when you are going through a second verification.
- There is no annual membership fees, no service charges, no processing fees etc for its users
- It is extremely secure and has cash back options too.
Despite providing its users with several advantages, PayPal has a few drawbacks, for example a long verification process, and low payment limits.
Most popular payment methods
Popular payment methods like Skrill, Neteller, Ecopayz, and PayPal provides its users with efficient and secure services. An online payment method like PayPal is considered as the safest money exchange platform and has lesser possibilities of being a victim of fraud as being used as online Bookmarker with PayPal. It has got its fraud protection system that protects users from such financial obligations. Among all the eWallets, PayPal is one of the most popular. Being used by 250 million people that is available in 200+ markets, it is the most secured payment mode as a user needs not require to share anything with merchants except PayPal email id.
As PayPal and other platforms are directly linked to one’s bank account and PayPal is continuously working on its security system but there are some points which have to be taken into consideration. It is important to take certain precautions while using online platforms such as PayPal like, never share card details or your one-time password (OTP) with anyone who claims to be a bank employee. PayPal stores all important financial information in a single online “vault” keeping it encrypted. It also offers payback protection to keep you secure.
PayPal FAQ
Q1: What are the Top 5 mistakes to avoid while making a deposit?
- While entering your bank details make sure to enter the details carefully and double-check it
- Check whether the operator accepts INR. If not, there can be conversion fees applicable.
- Check if there are bonuses for PayPal accounts.
- Don’t reveal your PayPal ID to customer care or anywhere else while depositing.
- Check minimum deposit before making the deposit
Q2: Do I need to use the same payment method for deposits and withdrawals?
Answer: It depends upon the individual operator whether or not they will require you to use the same deposit and withdrawal method. However, it is preferable if you use the same methods throughout. Most sports betting sites with PayPal will encourage you to use the same deposit and withdrawal method for easy transactions and to avoid need for double verification.
Q3: Why does an operator block my account?
Answer: Your account can get blocked by an operator due to various reasons, such as not providing all the required documents, or attempting to register as a minor. Plus, if you engage in bonus abuse or use of multiple IPs to get more bonus, then your account can get blocked.
Q4: What payment method will get me a bonus?
Answer: PayPal itself has a special reward system where you can get a lot of bonuses by accumulating points and you can even get a cashback bonus. However, whether bookmakers with PayPal are offering you a bonus, will depend on their bonus conditions. Often, even sports betting sites with PayPal may disqualify PayPal deposits from bonuses, while others may have special offers for PayPal, so you should check the policy of the specific operator.
Q5: How can I be sure that my money is safe with PayPal?
Answer: PayPal is known to be quite secure. However, if you are worried about the security of PayPal, you can always check the security features offered by PayPal. It will give you brief information about the security measures PayPal for security purposes.
Hackers are always trying to take your financial information and use it for their own sake. Here are some precautions you should follow:
- Do not share any OTP
- Do not tap on any link received on mail from PayPal as some other person can try to fool you in the name of PayPal.
- Only go for trusted operators
- Do not share any information related to your PayPal account with anyone.
By taking all these precautions one can save himself from all these phishing techniques and enjoy playing in the Best Betting Sites with PayPal in India.
Conclusion
When you are entering the world of gambling, it is important to use a secure means of transaction which is also fast. PayPal is fast, reliable and widely accepted by operators and Online Bookmaker with PayPal, making it a great choice for any punter looking to make quick deposits. If you are signing up for a PayPal account for the Best Betting Sites with PayPal in India keep in mind that you may have to go through a long verification process, but the benefits of PayPal will be worth it.
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