If there’s one type of alternative payment method that people have heard of, it’s Paypal. It allows anyone with an email address to send and receive payments online in a secure and convenient way. Paypal also provides the ability to do this free of charge.
The service has been used by gamblers in the sports betting world for a number of years now. It remains at the forefront of banking within the betting industry because it makes managing your bankroll easy, provides instant transactions, and offers heightened security.
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There are many online sportsbooks that exist as the top options available to bettors based in South Africa. Not all of them accept Paypal transactions, but several of them do. If you’re intending to use this payment method, you’ll need to know more about it. That’s why we have put together some details on it below.
Paypal is a service that was established in 1998 as Confinity. Max Levchin, Peter Thiel, and Luke Nosek started the company in order to develop security software for hand-held devices. Yet this had little success, and in 1999, the focus switched to a digital wallet. The first version of Paypal was thus launched in that year.
It merged with x.com – a company founded by Elon Musk, Harris Fricker, Christopher Payne, and Ed Ho one year prior – in March of 2000. It has since built up a big following, being acquired by eBay in 2002 for $1.5 billion in stock and existing as a primary payment method on the market site.
Today, Paypal operates as its own company, allowing faster, safer and easier payments to take place. You don’t have to enter any financial details when transacting through Paypal, which makes it a secure process to undertake.
This is why it has a user base of over 173 million people, and it is operational in over 200 countries. Paypal also supports 21 different currencies, offers a flexible payment method, and 24/7 data encryption.
You’ll find that Paypal provides its users with a variety of benefits, and it is these perks that have made it appealing for many online gamblers. Below, you’ll find out more about why this is a fantastic digital wallet to use for your online Paypal sports betting options.
Because of the fact that online betting with Paypal is available at many South African bookmaker sites, you need to be able to select the right one for you. This doesn’t take up too much time, but you need to know how to go about it effectively.
We have put together this Paypal review for you to learn about the payment method. Yet in the same way, we always recommend researching the sportsbook(s) you’re looking at joining. This means reading reviews about them and finding out how they operate. Some of the things to look for and compare with other sports betting platforms include:
It’s always good to find that a site has Paypal integration for sports betting. The various features associated with it will always enhance your betting experience in a significant way. Whenever you deposit and withdraw using Paypal, the experience will be seamless and simple.
Your transactions will process through quickly, giving you the ability to start betting straight away and receive your withdrawals as swiftly as possible.
The Paypal app, if you decide to use it, will also provide you with notifications about your payments to a sportsbook. This way, you know when the funds have left your account and, as a result, should also be available within the sportsbook account.
Paypal also makes it easy to budget for betting, thanks to the fact that you can simply deposit your bankroll into the wallet and keep it separate from other funds. Combine all that with the security technology, the convenience factor and the flexibility that Paypal offers, and you’ve got something special in action.
Should you take the decision to use Paypal for sports betting purposes, then there is also a couple of things to consider. Follow these tips to ensure you get the most out of the payment method.
Before you start signing up to a sportsbook and making deposits, you need to set your bankroll. This should be an amount of money that you can afford to lose each week or month.
Determine this by figuring out how much you need for everyday life and then contemplating over the remainder. Upon setting that amount aside, you can add it to your Paypal digital wallet. This is then able to be used for depositing at your selected sports betting site.
Setting that limit is a simple process, and you can track all your expenses via Paypal, thanks to the app notifications. After depositing at your South Africa sportsbook, you should also determine your limits per bet.
It’s common to take between 1% and 3% of your bankroll per wager. This allows you the chance to make profit, but also not experience extreme losses should you get it wrong. Don’t be tempted to add more funds to Paypal for your sports betting activity if you do lose, either.
Paypal offers features known as Buyer Protection, Fraud Protection and Data Encryption. These all serve you in a positive way, ensuring your money is always protected. Every transaction you process is encrypted using the advanced encryption technology in action at Paypal.
Furthermore, each transaction is monitored on a 24/7 basis, preventing fraud, identity theft and email phishing. Should you end up depositing money and not receiving the appropriate service from the sportsbook, Paypal also offers to refund you.
Paypal is a worldwide phenomenon already, and that’s because of its many features and services. For online sports bettors, it offers quick, convenient, and free transactions to and from sportsbooks.
We recommend following the guidance laid out here, so that you can engage in responsible gambling to the best of your abilities. Make sure you select an appropriate sportsbook and enjoy your betting sessions this way.