Online casino is a lucrative virtual industry currently with the Compound Annual Growth Rate (CAGR) of 10.9% wherein the betting market reached US $61.5 billion in 2021. It is so popular that it might reach the US $ 114.4 billion by 2029.
What makes online casinos famous?
There is a wide variety of reasons why it is all the rage. But first, let’s talk about what is virtual betting all about. It is similar to the physical casino in some ways except that you can play casino games virtually. Players receive bonuses and benefits much more than the land-based house of gambling which is one of the many reasons for its popularity.
You can wager conveniently anytime and anywhere and in any modern gadget including a smartwatch as long as you have a stable internet connection.
Importance of Payment Scheme
Apparently, this industry constantly involves money and a reliable banking system is of utmost importance. Not all clients are comfortable using their bank accounts and revealing their personal information. Virtual betting sites are aware of this which is why a third-party payment option came in handy.
A digital wallet or E-wallet is one of the leading monetary payment alternatives. There are various banking schemes available in the virtual gambling house, but the most trusted is Paypal.
Paypal at its best
Paypal is a trustworthy digital wallet that has been around for quite a long time which made this fintech company pioneer all third-party payment systems. It was established in 1998 and in 2002 eBay bought this company. Since then it has won many awards roughly around 20 excluding prestigious awards given by the ’06 Webby Awards the title “Best Financial Services Site” and the ’06 Webby People’s Voice Awards. The fintech’s dependability earned the trust of many top notched companies which made them earn this reputation.
The virtual betting industry trusted the service of Paypal and for this reason, the majority of the operators of this industry introduced Paypal to their players as one of their payment schemes. Read more about PayPal Casinos to learn the benefits that players can enjoy.
The Paypal Casino
Majority of the online casinos have available Paypal payment schemes which are used in major deposits and withdrawals. Transactions with bookmakers during an Esports event are also seamless when using this payment method.
Using a Paypal casino is not difficult as long as the player already has an existing account at Paypal. Here’s the simple step by step of funding one’s casino account using this payment scheme.
- Go to the banking section of the online casino and click register.
- Type your information and your Paypal account.
- Click “make a deposit” from the Paypal account to the casino site account.
- Key in the amount. Take note that it must not be below the minimum of the casino site.
- Transaction will be immediately processed.
- A minimal fee will be asked by Paypal for the said transaction.
Why is Paypal casino preferred by many?
Many players prefer Paypal casino because it is convenient, efficient, and safe. This fintech company has been trusted by many big companies for twenty years. It is proven to be secure with a monetary transaction that currency conversion seemed seamless because it automatically converts to whatever currency the user use and their respective location.
Paypal casino also offers various bonuses and more free spins.
How safe is Paypal?
It is guaranteed safe because all transactions are encrypted which means it is not easy for any malicious sites to steal not penetrate it.
Ø In terms of withdrawal, it usually takes a few hours or sometimes a maximum of two days depending on the establishment to that you are transferring your funds.
Ø Paypal asks for a minimal fee for the transaction.
Ø As of now, Paypal does not accept any Cryptocurrencies.
Virtual betting using Paypal is very ideal. Although its availability depends on its geographical scope which means not all online casinos can offer Paypal as its mode of payment, it is reassuring to know that in the future it will be available in all major gambling sites.