Nobody knows better, PayPal is globally the most important payment provider for online payments. In addition to numerous online retailers who rely on the advantages of the services of the listed company, it is also in demand in other segments, because the best betting providers usually also have PayPal.
How does sports betting PayPal work?
PayPal is a virtual account and acts as an interface between buyer and seller (customer and betting provider). Customers are able to pay on the Internet free of charge and in a matter of seconds. The payment method also works in the other direction, i.e. you can receive money from the betting provider with PayPal without having to enter your bank account details directly.
This payment method acts as a classic eWallet, i.e. as an electronic wallet. The name says it all: You can deposit money with the provider, for example from your bank account and use it to pay virtually, or you can deposit money with betting providers. Despite the English name, PayPal is of course also available to customers from Germany and is extremely popular in this country.
What is PayPal suitable for?
This payment method can be used in a wide variety of ways, as there is no need to take bank opening hours into account, but services such as sports betting are directly available to the customer. Since PayPal is not a one-way payment method, you can also use it to receive money that you want to debit from the betting provider. In this regard, it can be used as a deposit and withdrawal method at the bookmaker. Additionally, PayPal is know for its safety and security.
When paying in with PayPal, the credit is credited to the betting account in real time, so that it is directly available for sports betting. This payment method itself does not set a minimum amount for transactions, but most (also applies to new) betting providers require that you have deposited at least € 10; For example with the betting providers bwin or betway, some like betano (see screenshot) take € 15 as the lower limit.
The maximum amount of payment varies from bookmaker to bookmaker and is usually between € 5,000 (tipico) and € 10,000 (Interwetten). None of the sports betting providers known to us requires a deposit fee via PayPal. Also good: We are not aware of any welcome bonuses that would prohibit deposits via PayPal.
Before a payout is instructed, the online betting provider generally checks it manually, often specifying the duration as up to 24 hours. However, practice shows that many bookmakers such as betway work much faster and the sports betting winnings (also applies to bonus winnings) are often on the PayPal account within a few hours.
Very large betting providers with many employees in customer service act the fastest here, with the bookmaker betfair, which is very popular in Germany, my PayPal payout never took longer than 30 minutes. The average payout per transaction is in the high four-digit range.