One of them is because it is the easiest and the most convenient way to pay online. You don’t need to do a complex process to pay anyone using PayPal. You can pay the money online and it is widely accepted. So, you don’t need to worry about acceptance. Just one payment method will work for thousands of websites. So, it will cover almost all the websites that you will be using. You can pay easily using PayPal in all of them. That’s the reason why PayPal is popular.
Overview of PayPal
For the people who have no idea about PayPal, here is everything you need to know. It is a payment method using which you can pay or receive money easily, Here, you don’t need to give out your bank account or card details to the merchant. Instead, you just need to give the PayPal email address and all the things will be done.
Even when you are paying the money, the amount will be deducted from the PayPal account but the merchant will only see the email address off your account. In this case, the gambling website will only see the email of the PayPal account. So, that’s not an issue at all.
Before you select PayPal as your method, you need to know certain things about the payment gateway. We are going o see the pros and cons of the PayPal account. This will give you the exact idea on why you should or why you shouldn’t use it.
Advantages of PayPal account
There are more advantages compared to the disadvantages. So, we will be seeing all the advantages here.
- Making a payment from PayPal is secure for both users as well as the merchants. You don’t need to worry about a single thing. The PayPal fraud detection service will check the details about the payment before actually confirming it.
- The process is fast and simple. It doesn’t take more time to transact the amount.
- The fees are less for some countries and more for some countries. So, this depends on the country. You can count it as an advantage as well as you can count it as a disadvantage.
- It will automatically transfer the money into your bank account after certain days. So, it makes your work easier and faster.
- You can get instant payment.
- PayPal is widely accepted all over the internet. So, there will be little to no problems when it comes to the payment.
- When you withdraw any amount from the betting website, it will first stay in your PayPal account. You can either use it from there or you can withdraw it. If not, it will be automatically transferred to your bank account within 7 days. So, the money won’t lie on your PayPal account.
Cons of PayPal
We will now see what are the major disadvantages that you will face here.
- The biggest disadvantage that you will face in the betting industry is that PayPal is not accepted by all the gambling websites. There are very few gambling websites where you can pay the money using PayPal. So, this is one of the biggest issues that you will face while you are using PayPal.
- There are many fraud emails that you will get. PayPal is one of the most popular gateways out there. Therefore, people try to scam you in many ways. So, you need t stay alert on what you are doing and where you enter your PayPal email and password. In this way, you can be safe and secure.
- The next thing is about the fees. As we have already mentioned, the fees can be less or more.
- The support is not that good.
- There is a PayPal mobile application available but it doesn’t do most of the things. Therefore, that’s an issue for many people. You will have to open the website despite having a personal app for PayPal.
How to register for PayPal?
- Creating a account is super easy and fast. You will have to open the website and enter the details at first. After a while, you will get an email that you will have to verify. Once you verify your email address, you are halfway there.
- Now, your next job is to enter the PAN details and other mandatory things. Once you enter all the details, it will start the verification process.
- You will also have to enter the bank details. When you enter the bank details, PayPal will send a small amount of money in your bank account. You will have to enter the exact amount that they sent. For example, if they have sent you 0.12 and 0.98 bucks then you will have to enter it. You can go to settings and click on verify the bank account. You can enter the amount over there. Once you enter the amount, Pay Pal will check and verify it. If everything is alright, you have successfully created an account.
- You can then make the payments easily. But wait, to make the payments, you will have to add a card. You can add the card by going to the settings option. Once you add the card, they can directly withdraw the amount from your bank account and then pay it to the person. For example, in this case, if you make a payment to the betting site, PayPal will take out the amount from the bank account and then transfer it to the betting site. This process is done in no time. So, there is nothing to worry about. In the same way, if you want to withdraw the money from the betting site, you can give them a PayPal email address.