PayPal Poker Sites
Paypal was one of the first legitimate ewallets in the world. It was accepted by almost any online poker site in the world. It was easy to fund a Paypal account as all credit cards were approved, including Mastercard, Visa, Discover and American Express. Paypal also processed electronic checks. It was the perfect solution for U.S. online poker.
Paypal started out as an independent company. It gained fame by becoming the preferred processor for Ebay auction payments. In October 2002, Ebay acquired Paypal. Both were publicly traded companies at the time.
SPS Approved Safest Online Poker Sites
Paypal came with some baggage. The payment processing business for U.S.-facing online gaming companies was starting to draw attention from the U.S. Department of Justice. These transactions made up about 6 percent of Paypal’s business. A vast majority of Paypal’s business came from Ebay transactions and person-to-person transfers.
The practice of processing payments for gambling sites stopped during the Ebay takeover of Paypal. This did not get it out of legal trouble. The Paypal division of Ebay agreed to pay a $10 million settlement to the U.S. Department of Justice for income derived from processing payments to offshore online gaming sites.
European Paypal Online Poker Deposits
Paypal reentered the online gaming processing market in 2010. Sites that use Paypal for deposits and withdrawals must be properly licensed in the jurisdictions they do business. Online casino and poker sites that accept Paypal as a deposit and withdrawal option include Betfair, William Hill, Bet365 and 888. Note that none of these sites accept Americans. They all focus on Europe.
Paypal accounts may be funded through several methods. Visa, Mastercard and electronic check are all available. Regional debit cards are another option.
Paypal Poker Withdrawals
Players that would like to withdraw from their Paypal account may choose between a check and electronic check. Funds may also be sent to another individual. Some countries allow withdrawals back to a credit or debit card. Paypal also has a prepaid debit card that works at all ATM machines and retailers that accept credit cards.
U.S. Paypal Online Poker Deposits
Paypal left the U.S. online poker payment processing market in 2002. It started accepting online poker deposits at WSOP.com in Nevada in September 2015. It is expected that New Jersey sites under the Caesars Interactive umbrella, including WSOP.com, will accept Paypal for deposits by the end of the year.
Alternatives to Paypal for U.S. Players
U.S. players cannot use Paypal but there are still many deposit options available. Western Union, Visa, Mastercard and bank wire are all deposit methods accepted by U.S. offshore poker sites. Regulated poker sites accept Mastercard, Visa, electronic check and bank wire. Some sites have prepaid debit cards, Neteller, Skrill and casino cash deposits available.
Cashing out is just as easy. Offshore poker sites will send a check or Western Union. Regulated sites pay withdrawals by check, electronic check, and prepaid debit cards. Some regulated poker sites offer Neteller, Skrill or cash withdrawals at partner casino cages.