Home » Sportsbooks Deposits And Withdrawals » PayPal Betting Sites

PayPal Betting Sites

PayPal is the online leader in internet payments. The American-based company and digit wallet allows businesses and person to transfer payments and also works as a traditional e-wallet. The service can also be used in countries where online gambling is legal. The top PayPal betting sites are the ones with most traffic.

Company History – PayPal Rapid Growth

PayPal was established in 1998 as Confinity with the help of Peter Thiel. Originally, the company developed security software. They began to offer money transfer services beginning in 1999. At the turn of the century, Confinity merges with X.com, which was an online banking formed by now famous, Elon Musk. Musk thought Confinity had a bright future and the two companies merged that same year. They rebranded to the name PayPal in 2001.

PayPal grew rapidly through 2001 and went public in 2002 at $13 dollars a share. The decision to go public on the NASDAQ as PYPL went exceptionally well. The company ended up generating more than $61 million. In 2002, auction giant, eBay acquired PayPal for $1.5 billion. At the time, the vast majority of eBay auctions were offering PayPal as a payment method, so this made sense. As of 2015, eBay auctions can only be completed using PayPal accounts. PayPal once again went private in 2015 as they spin-off into an independent company.

Since they were American based, PayPal had little choice to stop working as an intermediary between online gambling sites and their US-based accounts. The company ceased processing these payments in 2003. Before ending online gambling payments, they were one of the largest payment processors in the world for internet gambling transactions.

PayPal still has re-emerged in American markets. It processes online poker and casino transactions in New Jersey’s regulated market.  They began to process again gambling transactions in 2010 for countries in legal markets. PayPal is stringent about their requirements when it comes to processing gaming transactions. Online gambling must be expressly legal in the jurisdictions and operators must have a proper license to send and receive money. They do most of their online gambling processing in the United Kingdom and Ireland.

In Today’s Market – PayPal Availability

PayPal’s online payment processing share far exceeds other e-wallets, Skrill and Neteller by a large margin. They currently operate in 203 markets and have over 153 million active users. They allow users and businesses to send and receive funds in more than 26 different currencies. The grand majority of our sportsbooks offer PayPal transfers, but if you are still looking for different deposit and withdrawal methods, we recommend checking the top sportsbooks reviews by going to our safest sportsbooks review hub.

If you are looking for other deposit or withdrawal options besides this one, where we offer our detailed point of view, be sure to check out the hub page. In any other case, you can also check the crypto hub page for more info on any betting crypto you want.