It’s one of the most recognizable payment processors in the world and thanks to some recent policy changes, a plethora of PayPal poker sites are now springing up. But before you fire up just any poker site, PayPal deposits come with a few caveats that you should know about. Read on for all the info.
What is PayPal?
PayPal is one of the largest online eWallets in the world and for poker players size is crucial in almost instances. Whether it’s bet sizing, bankroll or the stature of a payment processor, bigger is better for US online poker players and PayPal is a platform that conforms to that ideal.
Since pairing with eBay, PayPal has become an international brand that processes hundreds of millions of dollars each day. However, despite the company’s presence in the world of ecommerce, PayPal US poker sites aren’t nearly as common.
Aside from internal United States policies limiting PayPal poker online, the legal landscape in the USA often restricts the use of this payment processor. Additionally, there are only a small number of European PayPal poker sites that give players the option to use its facilities.
One of the primary reasons for this is that transaction fees for withdrawals can often be high. Of course, the counterpoint to this is that PayPal for online poker is extremely secure. Having an international reputation as well as a well-crafted recovery policy (with regards to lost funds) means that PayPal poker players don’t, usually, have to worry about their bankroll falling into the wrong hands.
US PayPal Poker Sites
Because PayPal isn’t authorized for use at any of our US online poker rooms, you should take note of the following information:
– Available for deposit – Yes
– Available for withdrawal – Yes
– Money available instantly – Deposits outside of the US are instant. Withdrawals are poker room dependent but range from 1-7 days.
– Success rates – Outside of the US success rates for PayPal are 100%. In the USA, transactions aren’t allowed.
– Fees associated – There are no deposit or transfer fees with PayPal. Withdrawals from a poker site won’t be charged by the site, but PayPal will usually charge 3.4% + £0.20 when you receive a payment.
The Evolution of PayPal
Over the last few months online poker and PayPal in the US have become a much more intertwined. Because the ever-evolving landscape in America is allowing more operators to enter a regulated market, companies such as PayPal are now finding their way into various states.
In addition to pairing with behemoths such as PokerStars and its play money platform in 2014, a bevy of smaller PayPal poker sites are beginning to spring up in the US. Although the market for this payment processor is still relatively limited, it’s likely that the coming months will yield an explosion of punters playing online poker using PayPal.
Using PayPal with Online Poker
Where accepted, the process of transferring funds using PayPal looks like this:
- Go to the cashier page of the PayPal poker site you wish to use.
- Choose PayPal as your deposit method, and enter the amount that you wish to deposit.
- Tap “deposit” and the transaction will be processed.
If for any reason you do not have the necessary funds in your PayPal account, your bank account will be accessed by the merchant and the cash will be removed.
Although PayPal may be used for payments at European poker rooms, use of it at US poker websites is not presently allowed.
Online Poker & PayPal Safety
Due to certain regulations, all eWallets must follow a strict set of rules, this makes using PayPal for online gambling extremely safe.
If you are planning on funding your online poker account through PayPal there is an added level of security, cyber criminals will not be able to directly access your account due to its third-party status.
US Poker Sites Accepting PayPal
Unfortunately, due to US online poker regulations, there are currently no USA poker rooms that accept PayPal deposits. .So at the moment you can’t play poker online with PayPal payments. However, because the market is currently moving towards greater regulation, PayPal is considering its market options.
Having an international brand that processes payments in a range of sectors, means it’s not always wise to enter into areas where the legal landscape isn’t properly defined. Fortunately, as the industry is formalizing and more USA poker sites are being created, PayPal is able to adjust its terms and conditions to comply with the emerging market conditions.
Remember, if you can’t make PayPal poker sites in the United States today, things change on a dime, so watch our site for all the info. In the mean time, there are loads of other deposit options to take advantage of.