How did PayPal revolutionized online gambling in Canada?
You always see that online casinos offering PayPal as deposit options are more popular among gamers. That is because PayPal offers safe, secure and instant money transactions online. Earlier in most online transactions used money orders or bank transfers. The process was painfully slow, open to fraud and also insecure. eBay’s acquisition of PayPal in 2002 transformed the entire industry and online payments were seamless, secure as well as incredibly convenient.
PayPal easy way to deposit at online casinos
PayPal is the easiest to use online payment method. It serves as both a payment processing service and a digital wallet. The ability to instantly transfer funds makes it more useful than e-vouchers and prepaid cards. The dual functionality of PayPal is a major factor in its success, as it provides consumers with the best of both worlds. The vast majority of online retail and eCommerce business accept PayPal. The recent introduction of PayPal made mobile payments simpler than ever – especially for mobile gamers, looking to make deposits and withdrawals on the go when playing slots at online casinos.
PayPal but offered at few online casinos
PayPal itself has had a strained relationship with the online gambling industry. Nonetheless, the payment processor heavily influenced and shaped the industry in the early 2000s. Online gambling depends on safe and secure payment methods. Digital wallets also provide a more anonymity than straightforward credit card transactions. For these reasons, all successful online casinos use digital wallets and payment processors of some sort.
With credit cards and bank transfers, players often have to wait days for their money to arrive in their accounts – both when making deposits into a casino account, and withdrawals to another payment method. In contrast, all PayPal payments are processed instantly. Another reason why PayPal is a popular payment choice at online casinos is its security. Only PayPal has access to your credit card and bank details, and PayPal has excellent security features. With regular payments, you have to rely on the casino to keep your information safe.
For decades, PayPal forbade online gambling sites in the US from using its service. But, after it split from eBay in 2015, PayPal returned to the gambling market. Now, there are though few US and Canadian online casinos accepting PayPal, much to the delight of many online players at casinos
PayPal preferred to stay clear of the online gaming industry due to its reputation for being shady and fraud-infested. However, online casinos have completely reformed recently. They invested heavily in proper licensing and regulations, third-party auditing, and secure encryption. Now, PayPal is one the most preferred methods for online gamers, and its popularity is set to grow even more in the coming years.
Online casinos offer flexible payment methods
If you do not find PayPal at the Canadian friendly online casino of your choice then no worries. Today online casinos are more flexible to payment methods. Right from credit cards to ewallets or prepaid cards, the online casinos have launched cryptocurrencies for deposits to play real time games at casinos. Bitcoin is one such crytpocurrency that is gaining popularity followed by litecoins.
Bitcoin was born online, and the digital currency seems to be a perfect match for online casinos. Bitcoin offers security, privacy, convenience, and if the volatility settles Bitcoin will soon become the default payment for online casinos.