From 2000 to 2002, PayPal was the leading money processor for online gambling in the United States of America. After that short period, they left the US market because of the lack of online gambling regulations as they did not want to jeopardize their status.
As of 2015, the things have been changing slowly and now you can use PayPal to process your deposits and withdrawals at a few licensed and regulated gambling sites.
As stated on their official website, they prohibit transactions for gambling activities by merchants and account holders in the US where gambling activities are illegal and by merchants whose services are accessible to account holders in the US. So, US players can use this banking method only at those gaming venues that are fully regulated in accordance with the US laws and cannot use PayPal to fund their accounts at online casinos registered abroad.
If you are looking for a USA online casino that accepts PayPal, you should be aware of the fact that your choice will be limited to those gambling sites which are registered in New Jersey and Nevada.
PayPal was established back in 2000 when two email payment processors X.com and Confinity merged. In 2002, it became a subsidiary of eBay, which coincides with leaving the online gambling market. Today, PayPal has more than 150 million users in 190 countries and supports 26 different currencies. Being the largest online money transfer service in the world, PayPal allows sending and receiving money in an easy and convenient way. Besides the accounts, residents of the US can also use a PayPal debit card and cash out their funds at an ATM or spend them where MasterCard is supported.
How to Make Deposits and Withdrawals
To start depositing and withdrawing from an online casino, you have to create an account on the official website and link your credit or debit card or bank account to it. Being an e-wallet, PayPal serves as a link between your preferred payout method and your casino account, so there is no need for uploading funds to your PayPal account. Once you have registered, you can go to a USA online casino that accepts PayPal and choose if as a preferred payment method. Just enter the amount you want to deposit and your email. Once redirected to your account, just complete your payment.
To cash out, pick it from the list of supported withdrawal methods. The procedure is as simple as with payments, so just make a few easy steps to complete it. No additional fees are charged by an online casino when making deposits and withdrawals and your transactions will be instantly processed. At certain online casinos, your funds can be subject to a pending period which may last up to 48 hours, though.
Why Use PayPal
With PayPal, you don’t have to reveal your personal or financial information to the casino of your choice as your email address is the only thing you provide it with. Transactions are carried out on the official website and they are completely safe and secure provided you use a strong password to protect your account and don’t share it with anyone else. Both deposits and withdrawals are swiftly processed with no additional costs. What’s more, US residents won’t be charged any fees when clearing funds from their PayPal account via a bank account or credit card. However, the biggest part of the US population still cannot use this banking method to enjoy their favorite forms of entertainment as online gambling is not regulated in all 50 countries.
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