Paypal ReviewPaypal Casino Deposit Method Review
PayPal is generally classed as an Electronic Wallet (or e-Wallet). However, there is a significant difference between PayPal and e-Wallets like Neteller and Skrill/Moneybookers. With the latter, you have to deposit money in the e-Wallet account before it can be used to fund gaming accounts etc. But with PayPal, money can be taken directly from credit cards or bank accounts, passing very briefly through PayPal before being redirected to its destination.
This different way of working has its advantages and disadvantages, and PayPal deposits will often cost the user a small sum, such as a 1.5% transaction fee. In this regard, it's no cheaper than a standard credit card. However, withdrawals are generally free, and are processed within 24 hours, whereas a credit card will require several days. Also, the ability to draw money almost instantly, not only from a credit card but also from a bank account, makes PayPal highly distinctive. Once you have performed a few transactions with the company, money can be transferred within minutes.
PayPal also has a very big advantage over both standard e-Wallets and credit/debit cards, in that no personal/confidential details are actually passed to the casino or other third party. Instead, PayPal acts as middleman, taking the money from the user and then passing it on to the merchant. This makes PayPal a more private and safer option than credit cards or Neteller or Skrill. Anonymity is a guarantee.
The company also has very significant reach. It has an estimated 240 million customers, more than 15 times that of Skrill/Moneybookers, for example, and the company has an extensive support system ready to swing behind customers in the event of disputes. While some of the payment firms are fairly obscure, PayPal is a giant name which is unlikely to be going anywhere soon.
While Neteller and Skrill/Moneybookers are offered by most gaming sites, PayPal remains a less conventional inclusion. That's partly due to the company's reticence towards gaming sites, an aversion that it developed in reaction to the US Government's passing of the controversial UIGEA legislation. PayPal has since started rowing back on this decision, and more and more UK gaming sites are offering it as an option. We can expect to see PayPal become a more popular payment method at casinos.
Neteller and Skrill tend to be cheaper options, but PayPal has a significant advantage in terms of privacy. It's also a very big name. As more and more casinos start to offer it as an option, it'll prove an excellent alternative. We will need to see the extent to which PayPal really does relax its tough anti-gaming stance, though.
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