Under the guidance of current CEO Dan Schulman, the company made $21.45 billion in 2020 from over 300 million users worldwide. The number of users rose to 361 million in 2021. The sheer number of registered users makes PayPal one of the best payment methods for any betting house to use.
Many people love PayPal for its ease of use. To use the e-wallet on an esports betting website, you need to have it as a preferred payment method. This can be chosen during registration or added in the course of using the site.
Here are the steps to follow when using PayPal to deposit on an esports betting website.
- On the esports betting website homepage, Click 'Deposit.' You will see a list of methods available. Click PayPal.
- You will be redirected to the PayPal Login page. Enter the site by providing your username and password or auto-filling from saved passwords.
- Enter the amount you intend to add to your betting account and click 'Confirm.
- The amount entered will be deducted from your PayPal balance and added to your betting account balance. You can then use that balance to place bets on the games available on the betting site.
The pros of using PayPal include:
- Availability in many countries around the world
- Easy to register and use. The website is great, and the process of processing transactions is very easy.
- Safe and secure transactions. PayPal is always looking out for fraudulent activities. Suspicious accounts are suspended and investigated. Some are closed. Reversals are done if fraud is proven.
- Free transactions when depositing in most online esports betting sites.
- Convenience - it is available throughout the day and can be loaded using different methods. It has been a leader in partnering with local money transfer methods in the countries where it operates.
- Helpful customer service, available on multiple platforms - email, chat, calls, and social media.
- Numerous currencies supported
Difficulty of restoring accounts- Due to its vast number of users, a lot of proof is needed once an account is flagged. From a different angle, however, this is a security measure.
Transfer fees may be high when converting currencies
Rigorous verification process after some duration of use
The purpose of eSports Ranker's review of banking methods is to ensure that you have all the important information before choosing one. We subject methods to strict testing by using them ourselves. We also do deep research by looking at what other reviewers have to say, the data available on various markets, and what users themselves have to say. We then curate this information so that you can find it in one place.
Every banking method that we review has to undergo tests in the following categories:
- Accessibility - The countries where it is available and the ease of logging in and using its online platforms
- The security and safety of users and their personal information
- Customer support reachability, service time, and helpfulness
- Popularity amongst the leading esports betting sites
- Convenience - currencies accepted, speed of transactions, etc.
- Cost of deposits and transferring money between different banking platforms
- Compatibility with other money transfer methods, such as how many methods are accepted when loading a card?
PayPal is a very popular payment method in the esports betting industry for both deposits and withdrawals. The number of registered users means many esports punters are already using the platform for everyday transactions. As a matter of convenience, they do not need to register anew to use it in their betting activities.
PayPal's availability in many countries and support of numerous countries is another factor for its popularity. It is easy to use and does not charge for most esports betting deposits. Its longevity in the industry makes it a reputable and trusted company. Partnering with PayPal gives any betting website a degree of credibility.
Opening a PayPal account is done online using either a PC or a mobile device. The simple process is completed in the following steps
- On the PayPal website, click the 'Sign-Up' button
- Select the type of account type that you want, Personal or Business Account, then click 'Next.'
- Input and verify your phone number.
- Enter your name, email address, and set a password. Then click 'Continue.'
- Add your physical address and other verification information required. Then click Continue.
- Verify your email address. Do this by clicking the link sent to you in the email that you have used to register.
- Your PayPal account is now ready to use
Note: PayPal may require further verification after some duration of using the account.