For any punter or would-be punter in Australia, PayPal is one of the most sought-after methods for making instant deposits and fast withdrawals. But how do you use PayPal at Australian betting websites?
We’ll get to that soon but first, let’s talk a little more about Australia’s betting industry and why PayPal is so popular.
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PayPal and Betting Payments in Australia
Australia has one of the biggest and most lucrative betting industries in the world. In fact, betting expenditure per capita in Australia is the highest compared to any other country in the world.
Naturally, that means that many Australians lose money every year through their betting activities.
In order to curb the issue of problem gambling, some Australian banks have taken it upon themselves to restrict payments to and from legal bookmakers.
The result is that Aussie bettors have had to turn to alternative methods to fund their online gambling accounts.
While the number of betting payment methods at Australian bookies is huge and includes options like Skrill, Neteller, Paysafecard, Ecopayz, BPAY and POLi, the most sought after and preferred payment method for many Australian gamblers remains PayPal.
But what is PayPal and why do so many bettors use it to fund, and withdraw, from their betting accounts?
What is PayPal?
PayPal is an eWallet that lets you send and receive money from bank accounts, credit/debit cards, and other PayPal accounts.
Because PayPal is linked to your bank account, sending money, or depositing at online bookmakers, is instant.
When you use PayPal you also hide your spending from your bank account because they only see withdrawals to PayPal, and not to online bookmakers.
The inverse of this is also true.
Australian betting sites, although safe and licensed by the Australian government, will not have access to your bank or card information – just to your PayPal account.
What is more, PayPal payments are secured by industry-leading SSL encryption technology making PayPal one of the safest and most secure ways to pay for your betting activities.
Finding PayPal Betting Sites
The easiest and quickest way to find betting sites with PayPal is to use online bookmaker comparison sites like My Betting Sites Australia.
They list the best Australian bookies and have articles to suit every punter, including an article which compares Australia’s best PayPal Betting Sites which you can read here – https://mybettingsites.com/au/articles/paypal-betting-sites-top-6-best-paypal-bookmakers-australia
Otherwise, you can also go through various bookmakers yourself and check whether they accept PayPal for deposits and withdrawals.
Online betting websites with PayPal often list PayPal as a payment method in their footer but you’ll also be able to check this by using the live chat function, reading relevant Frequently Asked Questions or beginning the sign-up and depositing process.
Signing Up With Betting Sites Using PayPal
Before you can use PayPal you’ll need to create a PayPal account.
You can create a PayPal account for free online, or through the PayPal app. All you need is an email address to get started, although, you will have to link your card or bank account before you can deposit or withdraw money into your account.
You’ll want to create a personal account rather than a business account (unless your business is happy to pay for your bets!).
The great thing about some of Australia’s top PayPal bookies is that they allow you to sign up for their sites using your PayPal account rather than entering all of your personal information manually.
You’ll see if you have this option when you sign up with a betting site in Australia.
If you do create your betting account via PayPal know that you will still have to verify your identity later by sending ID documents to your chosen betting site, or by consenting for them to check your address and name against a Credit Reporting Agency.
Depositing With PayPal
In order to make a betting deposit using PayPal, you will need to first create a betting site account.
From there you should go to the Account section of your profile.
Next, select ‘Deposit’ and choose ‘PayPal’ from the payment methods listed.
After selecting ‘PayPal’ you will need to enter your PayPal login information which means the email address you used when signing up with PayPal, and your password.
If you signed up through PayPal your chosen betting site will already have this information so you can skip these steps.
After entering your PayPal account information you will just need to select a deposit amount and confirm the payment.
Because your PayPal account is linked to your card or bank account, PayPal deposits are instant. This means you can start betting right away.
Be aware that you may be charged currency conversion fees if your PayPal bank account does not contain Australian dollars.
Withdrawing with PayPal
The process of making a betting withdrawal to your PayPal account is almost identical to making a deposit.
If you deposited with PayPal then it will be even faster because your bookmaker will already have your account information.
Simply select PayPal from the withdrawal methods listed, choose how much you want to withdraw and then confirm.
PayPal withdraws can take 1-2 business days to process depending on the time of day, day of the week and betting website that you are using.
When using PayPal for withdrawals, you will also have to initiate a PayPal withdrawal to get your winnings into your own bank account. This can be done from the PayPal website or mobile application.
Again, you may be charged a foreign currency fee if your bank account is not an AUD account.
So there you have it, everything you need to know about using PayPal at betting sites in Australia from finding the best PayPal betting sites to signing up, depositing and withdrawing.