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The History Of PayPal

PayPal was started in the late 1990s under the name of Confinity. This company was founded by Peter Thiel, Ken Howery, Max Levchin, and Luke Nosek. However, it wasn’t initially very widely used by the public. Confinity was then acquired by an online banking company, called X.com, which was run by Elon Musk. X.com began to work on developing the online payment service into a more successful service.

PayPal became known under its current name in 2000, and it slowly began to gain traction on the internet. At this time, online casinos were just beginning to become widely known about by the public. Therefore, it was still not popular in the casino industry.

While the internet was somewhat widely used during the early days of PayPal, it wasn’t nearly as widely used as it is today. Additionally, there was much less awareness of online security than there is now. Therefore, secure online payment services were less popular. This rang true both within and outside of the online casino industry.

In 2002, PayPal was acquired by Ebay. From 2002 until 2014, PayPal was a subsidiary of Ebay. As a result, PayPal wasn’t commonly used in the online gaming industry. During this time, the online gaming industry generally didn’t use secure payment methods. Instead, it was much more common for the online gaming industry to simply use credit cards for payment and the deposit of winnings.

After 2014, PayPal became an independent company. When PayPal became its own company, there were more online casinos that began accepting PayPal as a method of payment and way to deposit winnings. The number of casinos accepting PayPal has continued to grow substantially, and the number is expected to keep growing in the future.

How PayPal Works

PayPal uses advanced encryption to ensure that online financial transactions remain safe from hackers. In addition, PayPal prevents both parties involved in the exchange from having access to one another’s financial information. Prior to PayPal becoming commonplace, it was standard for online transactions to require the buyer or gamer to provide credit card or banking information to a seller or online casino. If a credit card number was misused or the transaction was compromised, there was the real risk of identity theft. When PayPal is used, merchants see nothing more than an email address.

If at any time while using PayPal, you have concerns about the security of your account, it is very easy to change your password and cancel any pre-approved payments. This would prevent your account from being erroneously charged. However, if you deal with reputable online casinos, this shouldn’t be a problem. For more on choosing a reputable online casino that accepts PayPal, read the next section.

Not only is PayPal safe to use, but it is quite convenient for online gamers to use. One can exchange significant quantities of money using PayPal. This service is free to use for anyone who will not be withdrawing more than 500 dollars from the account monthly. If you pay a fee for the account, the withdrawal limit can be much higher. There are many online casinos that accept PayPal to choose from. In fact, it has become commonplace for online casinos to accept PayPal.

To use PayPal, you log in with your email address and password. This is used to authorize transactions, and it is all that is needed to authorize transactions. While it is possible to connect a bank to your PayPal account, online casinos you play through cannot see your banking information. However, you can connect PayPal to any bank account of your choosing.

It also is quite easy to get money into your PayPal account. While you can transfer the money from your bank to your PayPal account, some employers can deposit funds directly into your PayPal account. While funds are in the PayPal account, they are stored electronically.

When you use PayPal to wager money for online gaming, payment or winnings are transferred either immediately or within a few moments. However, you will have to wait longer for money to be transferred into a bank account connected to PayPal. If the money is transferred into a bank account on the weekend, it generally takes until the next Monday for your winnings to be in your bank account. However, if the winnings are transferred on a weekday, they are generally available the next business day.

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PayPal At Online Casinos:

When you are choosing an online casino that accepts PayPal, it is important to find one the best PayPal casino for you. This will ensure that you have an enjoyable gaming experience. Three excellent online casinos that accept PayPal are Slots.LV, Planet 7, and Ignition. They accept PayPal, and they also offer great bonuses for signing up. In fact, Slots.LV offers a welcome bonus of more than 2500 euros!

However, it is best to avoid Pure Vegas, ElDorado Palace, and Planet Kings. While these online casinos accept PayPal, they are known to have poor business practices. In fact, ElDorado Palace and Pure Vegas are well known to be deceptive to customers.

Slots.LV:
This may be the best PayPal casino available. Their welcome bonus is the largest on the list at nearly 3000 euros, and they also offer a great selection of games. In fact, there are more than 130 games to pick from. The sign-up bonus is given in the form of matching for the first bet. The payout rate is more than 98%. Payment is delivered via PayPal within 2-4 days. They also offer excellent customer service both over the phone and through a live online chat.

Ignition:
Ignition accepts PayPal, and they have a great sign up bonus of nearly 1000 euros. In addition, the casino has a payout rate of almost 98%. They also deposit the money extremely quickly into your PayPal account, within a period of only 2-4 days. Ignition is also known for quality customer service. There are representatives available 24 hours a day, 7 days a week. It also is possible to play Ignition easily from a variety of mobile devices.

Planet 7 Casino:
Planet 7 offers a welcome bonus of nearly 1500 euros, and there is a 400% bonus on deposits. Additionally, there are more than 150 games to choose from. In addition to slot machine-style games, they offer live dealer games. The payout rate of Planet 7 Casino also encroaches on 98%. Winnings are deposited to your PayPal account within 4-7 days.

PayPal, Alternatives and Competitors:
PayPal is still the go-to method of securing online transactions, and it is likely to stay that way for quite some time. While there are services similar to PayPal available, they are not nearly as popular. Some of the best-known competitors to PayPal are Skrill, Google Wallet, and Intuit. However, there are other PayPal-like services available, such as WePay, Stripe, and Braintree.

Typically, alternatives to PayPal do not offer the same level of security and convenience that PayPal has. Another reason why it will likely be quite some time, if ever, for another online payment service to become commonplace in the online casino industry is that PayPal has earned a strong reputation over a long period of time.

Skrill:
Skrill offers a similar platform to PayPal, but it has not been rated nearly as well. In fact, Skrill has a rating of D- with the Better Business Bureau. There have been numerous complaints against the company, and it seems unlikely that Skrill will even begin to become as popular as PayPal in the online casino industry anytime soon. However, there are some online casinos that accept Skrill.

Intuit:
Intuit is used by a number of businesses, and the company makes it easier to file taxes. However, this payment service is nowhere near as popular or well known as PayPal. Additionally, the service is primarily utilised by businesses to process the credit cards of customers rather than being geared at the customers themselves. Customers still have to provide their credit card information. However, Intuit does use high-quality encryption, which helps to keep transactions safe. Still, it doesn’t seem likely that Intuit will come close to the same popularity that PayPal has in the online casino industry.

Google Wallet:
Google Wallet makes it possible to conduct peer to peer financial transactions. Like PayPal, it is free to get Google Wallet. In fact, it is available at the Google App store. The app is available for a variety of devices, including some types of mobile devices. It also is possible to link a bank to Google Wallet. It even is possible to withdraw money in your Google Wallet account from an ATM, if you are using a Google Wallet card.

However, there have been concerns raised as to the security of Google Wallet transactions. It is thought that the information may not be kept as safe from hackers as PayPal’s financial information is. Given this concern and other issues with using Google Wallet as payment, there are currently no online casinos that accept it.

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