In today's world, we have a myriad of advanced payment systems. We can complete online transactions using many different methods – Visa, Credit Card, Neteller, Skrill and Bank Transfer for example. One payment provider that is extremely popular is PayPal. This payment system is renowned throughout the world and has a huge customer base.
In this article, we look at Canadian online casinos that accept PayPal and the casino online PayPal benefits. We will show you why this is a fantastic platform to use, and how it can make online gambling a breeze.
To start, let’s look at a little background information about this online payment provider. Formed in 1998, it is one of the longest standing online payment systems in the world. It has a current annual revenue of approximately $13 billion USD. Furthermore, it boasts a user base of over 200 million. In short, it is an online payment powerhouse!
Why use PayPal in an Online Casino?
As mentioned above, you can find a range of online casino PayPal platforms. This has become a widely used form of payment for many gambling sites. But why would you use it to make deposits and withdrawals? What benefits does it offer over other traditional forms of payment such as MasterCard and Visa? In the below sections we look at the advantages and disadvantages of using PayPal online casino transactions:
⊙ Advantages of using PayPal
There is no denying that PayPal is a fantastic system. There must be a reason why millions of people around the world use it on a daily basis. Both individual users and businesses make use of what this transaction platform has to offer. The following are some of the benefits:
+ Fantastic security
+ Great flexibility
+ Has a Phone App
+ No processing fee
+ Easy to use
As you can see, a casino that accepts PayPal has a lot to offer. First and foremost, this is one of the most secure transaction methods available. You rarely hear about security breaches or misuse of customer data. Secondly, the system is flexible – you can add multiple payment options and cards. Thirdly, there is no processing fee for standard transactions and processing times are extremely fast. Finally, PayPal is convenient and easy to use!
⊙ Disadvantages of using PayPal
Now that you can see the advantages, we must look at the negatives. Luckily, they are few and far between! There is not much bad to say about PayPal at all – it is a robust system that has much to offer. The following are the disadvantages of using this platform:
– Lack of customer service to account issues
– Still, have to deposit to use PayPal
– Not available in many countries
The main issue is that it is not a direct form of payment – you still have to first deposit funds into your account, to then make a deposit or withdrawal with a casino. Other transaction types are direct – PayPal is effectively a middleman. This is not a huge inconvenience, however – all you have to do is periodically make deposits into your account to ensure there are funds available.
The other minor disadvantage is that PayPal is not known for its customer service. If you have account issues, you may struggle to get in touch with someone. This should not have much bearing on your PayPal casino experience.
How to use PayPal account in Online Casinos?
The process for actually using this service is quite straightforward, especially for an online casino Canada PayPal. The following is a little information about making deposits and withdrawals through this system:
⇒ Making deposits with PayPal
Making a deposit using PayPal couldn’t be easier. The actual method will vary slightly depending on the gambling platform you use, but the basic premise remains the same. See the deposit method below:
1. Sign in to your PayPal account
2. Ensure your account has available funds
3. Sign in to your PayPal online casino
4. Open the payment sections (this could be called cashier, account or banking for example)
5. Select PayPal as the chosen method
6. Enter the desired amount
7. Finalize the deposit
As you can see this really is a straightforward process. Providing that you have funds available, or your cards registered with PayPal have funds, you can make a deposit in a matter of minutes. Deposits should usually be credited to your account immediately – this will depend on the casino itself, however.
⇒ Making withdrawals with PayPal
In a similar manner, making withdrawals using this transaction system is also simple. Withdrawal times are usually no longer than 24 hours. This can again depend upon the casino though – some platforms may have longer processing times, despite the quick processing time through the system itself. The following is the typical method of making withdrawals:
1. Sign in to your casino PayPal Canada account
2. Open the payment sections
3. Select withdrawals
4. Choose PayPal as the method
5. Enter the desired amount
6. Finalize the withdrawal
There should be no withdrawal fees for using PayPal itself, but the gambling platform could impose banking restrictions or admin fees.
⇒ PayPal commissions
This payment system does have associated fees and commission, but they will generally not apply to gambling activities unless you make a conversion of currency. The followings list some of the types of transaction and their fees:
- Domestic personal payments: Free
- Cross-border personal payments for EU countries: Free
- Cross-border personal payments for Other countries: Varying depending on the country
How are users protected when using PayPal?
Security is obviously an important aspect of online casinos. When using any form of the online transaction system, you may be concerned about your personal information. How do you know that your details and cash will remain secure? Luckily, PayPal has numerous protection systems and security in place to ensure you are fully protected. The following measures are employed:
- Buyer protection
- Fraud prevention
- Data encryption
Buyer protection means that if you complete a transaction, and the seller (i.e., a casino) doesn’t match your payment, the company will reimburse you. This is a fantastic security measure that can protect you from unscrupulous platforms that would steal your funds. They also employ fraud prevention – basically, each transaction is monitored. Any suspicious activity such as phishing or identity theft is outlined and eradicated immediately.
Finally, transactions through PayPal to online casinos are encrypted – this means the data is turned into an unreadable format that cannot be translated if intercepted. This provides a file safe if any breach of data occurs. In short, PayPal is an extremely secure system that puts customer security first.
Where to find Online Casino that Accepts PayPal in Canada?
So what options are available for casino PayPal Canada platforms? Unfortunately, there are none available. As it stands, Canadians are not allowed to make deposits to casinos using this platform. There is specific legislation within the government that prevents this platform from being used as a direct means of payment for online casinos and sportsbooks. You can still use this service to move money into different accounts – you just can't make direct payments.
When using Canadian casinos, it is advisable to facilitate your transactions using PayPal, but choose an alternative method such as Visa or Bank Transfer to actually make the deposits. In time, the legislation could change surrounding PayPal, but for now, this is the only way that it can be used.