One of the most popular 3rd party financial processing companies in the world is PayPal, a household name known by anyone who’s ever tried to send someone money on the internet – especially if they’ve ever bought or sold something on eBay. It’s one of the simplest ways to move funds electronically and they even hold onto the cash until both parties involved in the transaction confirm that they’re happy with whatever the payment happened to be for, (merchandise, services, etc.).
In fact, they have grown into the largest player in the space and approximately 70% of all online shoppers in the United States have a PayPal account. This is because it’s widely accepted as a payment method outside of the world of eBay and you can use it to buy flowers, eBooks, dog toys, or anything else under the sun. It’s safe, secure, widely-known and 100% trusted among American consumers. However, sadly for gamblers living in the USA, you can’t use PayPal as a deposit method at online casinos or for any other gambling-related activities, therefore, here is a full list of the best options that are currently available.
The company was launched in 1998 as Confinity, which was more concerned with developing software for mobile devices at the time. Then in march 2000 they merged with X.com, an online banking company founded by none other than everyone’s favorite electric car maker, Elon Musk. After a few twists and turns, X.com was renamed PayPal and taken public in 2002, but was quickly acquired by eBay when they saw its potential, only to be split off and re-listed on public exchanges again in 2014.
Deposit with PayPal at a USA Online Casino
As mentioned above, due to their industry standing and strict oversight by the government, you cannot use PayPal to deposit at USA online casinos, nor can you receive funds with this method. Millions of Americans still don’t know this fact and search in vain for operators that will accept funds via PayPal but there are literally zero betting websites who will do it since the transactions would never be approved. Even if it was a viable option, many people would be turned off by the fact that you have to give them all of your personal information, ensuring that none of the transactions are private like when you deposit with Bitcoin, which is a totally anonymous process.
PayPal have a very strict merchant agreement and require business owners to send in numerous forms and pieces of identification to verify who they are. They also have a security team who vigorously researches every website who applies for a merchant account to confirm that they comply with their guidelines. Also, it’s clearly stated on their website that they prohibit transactions for activities “defined as gambling” such as games of chance and games of skill, sports betting, wagering on horse races, and every other product that online casinos provide to their customers.
That all said, PayPal does allow many European countries to use it as an online casino deposit method, depending on the specific country in question. This is because in places like the United Kingdom and Ireland internet gambling is fully licensed and regulated by the government, and PayPal reports all of the financial transactions between operators and players. Obviously, most Americans wouldn’t like this level of government interference in their personal affairs, so even if they could use it, they probably wouldn’t – especially when compared to cryptocurrency, the best way to send money online.