PayPal is a so-called e-wallet. So a virtual managed account. Money is transferred between virtual accounts, which are always assigned by email address. Of course PayPal became really big in the USA and in Europe it got a big push when the company was bought by Ebay.
In the gambling sector of the U.S, Canada and Australia PayPal has a leading position, but for most European customers is relatively new territory, as it only worked in regulated markets such as Austria and England. In the meantime, however, PayPal has several companies in its portfolio that accept this payment method for customers in the rest of the European Union as well. It is one of the safest and, above all, most common virtual payment methods because both credit cards and direct debit are available as methods, and PayPal offers a relatively high level of security compared to many other e-wallets.
There are some details about PayPal that few people know, but they are very interesting. The most interesting part of this company is the one about the founders of the company, who first took the company public to end up selling it to Ebay.
PayPal was created as a merger of Confinity and X.com and was thus founded by Max Levchin, Peter Thiel, Luke Nosek (all three Confinity) and Elon Musk. Pay attention, that three of the four founders have become parts of the entire Internet engine thanks to PayPal millions. Levchin later founded Yelp, which has become the largest social network for rating places and restaurants. In the U.S., nothing runs without a look at Yelp.com.
Thiel is even originally German, but his parents emigrated when he was a year old. He invested in the idea of PayPal back then and is the owner of one of the most legendary high-tech hedge funds in the world. He was the first major investor to buy shares in Facebook through his hedge fund. Currently, Thiel is making headlines for championing a project in which young people specifically take time off from university to devote themselves to real-world business ideas. He is one of the harshest critics of the current American higher education system.
There’s also Musk, who is at once a madman, but one who makes crazy things come true. When he said he was starting a company that would send rockets into space, he was laughed at. In the meantime, he succeeded and NASA has to hire him because they don’t send their own rockets into space anymore. He also owns the e-car manufacturer Tesla and some other “wacky” projects.
Since the takeover by Ebay, however, the aforementioned people are all out. PayPal is popular in the world because it not only gives a virtual account to online stores, while PayPal is used as a central interface because both credit cards and direct debit work here. PayPal is in principle free of charge as a buyer, only the recipient has fees that he must pay.
Best Casinos with PayPal
|CASINO||TOP FEATURES||WELCOME BONUS|
|888 Casino||Exclusive game catalogHigh security and protectionQuality mobile appLive chat support||Up to $200|
|bet365 Casino||One of the most reputable casinos in the worldGuaranteed web securityAdapts to numerous mobile devicesEffective customer service||Up to $1,000|
|Betsson Casino||Wide variety of slot machinesNumerous live dealer gamesOffers bingo games||Up to $200+100 Free Spins|
|Star Vegas Casino||Games adapt to multiple devicesIntuitive websiteLegal to play in many countries||Up to $100+30 Free Spins|
|Betway||Online casino with international presenceEffective live chatVarious live casino games||100 Free Spins|
How to register with PayPal?
Before you can use PayPal you must open a free user account. To do this you must go to the official PayPal website and click on the option ‘create an account’. There are two different types of accounts:
- A personal account: so you can send or receive money without having to share your information.
- A Business account: to receive payments and send invoices to your customers.
For standard use you should choose the first option, i.e. the personal account. Once you have done so, you will have to fill in a form with the following fields: Country, First name, Last name, Email, Create password and Confirm password.
It is important that the information you provide is real. When you have completed these fields you will only have to click the ‘Next’ button. You will be sent to another screen where you will have to provide more information:
- Address and Postal Code
- City and Province
- Telephone number
- Date of birth
Finally, check the consent box and click on the ‘Accept and create account’ button.
Your account is now created!
The next step to be able to make a payment is to link a bank account or credit card to your PayPal account.
- If you link a credit card you will need to provide the following information: the card number, expiration date and CVV code.
- If you link a bank account you will need to provide the following information: IBAN or account number.
From this moment you can start paying online and deposit money into your player account at legit online casino PayPal.
Alternatives to PayPal for deposits in online casinos
Alternative e-wallets are mainly Skrill and Neteller, which are especially popular for transactions to gambling companies, although Skrill also has quite a bit of distribution among normal online stores.
Skrill is an online account very similar to PayPal. With this electronic wallet born in Great Britain, you can transmit payments via the web using your email and a password. You can also request a prepaid card belonging to the Mastercard circuit through which to make transactions, including shopping, with the added advantage of withdrawing from ATMs against payment of a small fee. The Skrill account can be associated with a bank account or a credit card. Deposits are immediate and withdrawals take up to 48 hours.
Neteller is an e-wallet practically similar to Skrill and PayPal. Compared to the latter two payment methods, it has higher limits and a VIP program that awards prizes and bonuses to those who use the online account the most. Deposits are instant while withdrawals take a maximum of 2 business days. It belongs to the same company as Skrill, ensuring identical levels of reliability and security.
PayPal today – Overview
Today PayPal is still a respected online payment service provider. What’s more, PayPal currently leads the e-wallet market with over 200 million accounts opened in over 200 different countries.
In addition, this payment method accepts more than 20 different currencies – it is unrivaled!