PayPal payment at Online Casinos
– How the American Payment System Company has Assimilated Almost All Major Online Casinos
By the beginning of 2016, PayPal was largely considered the dominant payment processing solutions provider for a majority of online casino bays. But it hasn’t always led the pack. Contrary to what most people know, the genesis of PayPal’s preeminence as the most preferred payment provider is a lot more humble than you would be tempted to think. Elon Musk, during the 1990s, foresaw a time when the world would run on the wheels of online and digital currency and launched PayPal as a response to this predicted need. Like any other startup, PayPal’s early years were a bit rocky, but this did not prevent its unprecedented increase in popularity and notoriety during the first few years of the 21st century. This was back when the internet revolution was taking shape, and PayPal was widely considered as the first modern eWallet platform to embrace this change. Smart online casino owners and entrepreneurs quickly jumped on PayPal’s back in a bid to ride its wave of pioneering dominance. But this did not last for long.
It wasn’t before long when eBay acquired PayPal. This, as a result, heralded a new era in PayPal’s domination of the online payment realm. During this phase, PayPal’s relationship with online casinos disintegrated as a result of eBay’s new stringent operating policies. This saw PayPal slowly lag behind in the race for the preferred payment provider for online casino sites. It went on for nearly a decade before eBay and PayPal split. The split was closely followed by the re-entrance of PayPal as an online gambling payment processor. Fast forward and less than 3 years later, online casinos that accept PayPal have a clear advantage over other sites due to latter’s preference by most gamblers.
The Bottom Line
If you are still using your debit or credit card to fund your casino wallet, it is high time you stopped exposing yourself unnecessarily to fraud risks by embracing PayPal as your new payment processor. You will for sure appreciate the extra speed, flexibility, adaptability and security that comes with such a decision!
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Why Should I Use PayPal?
Bearing in mind that there are presently more than a dozen payment providers in the realm of online casino play, one is likely to wonder if there are any clear advantages of using PayPal or PayPal-branded casinos.
Well, if this sounds like you, here is a quick primer on that.
As opposed to using your credit or debit card directly to recharge your casino wallet, you won’t have to expose your sensitive banking and personal information during a PayPal checkout. Your PayPal account will be used as a middleman merchant between the funds in your bank and the online casino platform that you are about to use. That implies that you don’t have to key in the 16 digit code or CVV on your credit/debit card to buy casino credits. Rather, you will only be prompted to enter your PayPal email and the accompanying correct password and let the payment processor do the rest of the work. If you compare this with paying directly with your bank balance, you will understand the reason behind the high number of bank-related fraud cases that are reported every other day.
PayPal mobile – a portable alternative site for PayPal users – has proven to be a very valuable complementary feature to go hand-in-hand with the advent of alternative mobile gambling sites. Thanks to this genius move by PayPal, online gambling enthusiasts can now gamble while on the go straight from their smartphones and tablets. Very few people would have seen that coming a few years ago.
PayPal is only payment platform that gives gamblers the freedom to use any funds transfer method of choice during checkout. This can be your debit, prepay or credit card, bank transfer and also bitcoins wallets in some countries. This level of versatility and adaptability has made moving money around in the online casino world very smooth and accommodating.
As much as PayPal has proven to be a near-perfect fit as far as online gambling funding is concerned, it is not yet accepted universally as a digital payment processor. Even worse, PayPal themselves have blocked certain countries such as Nigeria, Turkey, and India from accessing some of their sensitive but useful service features. This implies that online casino players from such countries cannot use PayPal as a checkout option whenever they want to buy casino credits or fund their account.
To enjoy the benefits of using PayPal as your preferred of loading or withdrawing money from your online casino platform, you have to first of all register for an account at www.paypal.com. You might also be required to verify it by attaching your credit or debit card. After this, you will be in a position to use your account to pay for your credits at an online casino that accepts PayPal as a payment option.
The Advent of Online Casinos
A few decades ago – actually just a few years before this article was written – you had to visit a land-based casino for you to try your luck with the roulette or in the blackjack. And the best of such casinos were found only in upmarket, exclusive and some of the most expensive neighborhoods in the world. Back then, gambling was considered a mark of sophistication and a stamp of approval for one’s membership among the top echelon of the society. Only the richest, elite and famous had dollars to splurge by gambling in such high-priced establishment. It was reserved for the high and mighty of the society. A pinnacle of success and eminence for those who had scaled the heights of social and financial greatness. But in a desperate need for the middle-class and the nouveau riche to jump in the ‘success bandwagon’, casinos began sprouting every right, left and center. Then the advent of the internet in the late 90s ended the reign of prestigious gambling by availing the cards to every Tom, Dick, and Harry.
Online Gambling and Internet Revolution
Since the early 2000s, the culture of online gambling has been on a steady rise. More and more land-based casinos now have an online portal for those members who would like to gamble remotely. However, before long, most of them hit a dead end. The old 1980s methods of managing and moving money between players and the house proved to be inefficient and insecure. Something better had to be devised to keep the drums rolling and cards shuffling. That’s how the era of integrating mainstream payment processors in online casinos came to be.