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Fri, Apr 5, 5:49am by Mia Chapman
Last Updated Tue, Oct 8, 12:38am
PayPal is one of the most popular methods to transfer cash, accept payments and manage money online. Despite this, relatively few real money gambling websites advertise PayPal as a deposit or withdrawal option. Here, we will explain why this is the case, and why other payment methods are generally preferred at online casinos which accept Australian currency.
*Please Read – PayPal is no longer a viable option for Aussie casino players. If you’re looking for the easiest casino and poker deposit option, we strongly suggest you check out Bitcoin. It’s fast, safe and for the most part — completely anonymous. You can also deposit as little as $10 when you use Bitcoin. *
PayPal & Online Gambling
While e-wallet solutions such as Neteller and Skrill (Moneybookers) were set up especially to work with niche industries like online gambling, PayPal was designed first and foremost for business purposes. It has since become one of the most widely used online payment services in the world, notably at online shopping at sites such as eBay and Amazon.
In the not too distant past, PayPal deposits were accepted at many real cash gaming sites. Nowadays, however, very few Web casinos openly support PayPal transactions for the Australian dollar. This is due to the company’s very strict regulation policy with regards to international licensing.
There are two major points in PayPal’s operating guidelines which need to be met by online casino operators who intend on using the service as a means for players to transfer currency/funds to and from their playing accounts.
- The site operator must have obtained approval from PayPal to accept payments via the PayPal service.
- The site operator and all of their customers must be located exclusively in jurisdictions where online gambling is allowed under local laws.
It is the second rule here which leaves Aussie punters on a sticky wicket, as it effectively eliminates PayPal as a deposit/withdrawal option for a huge number of online casinos, real money poker sites and other avenues for virtual gambling on the Net.
Casino Banking with PayPal in Australia
While gambling online is 100% legal for Australian residents over 18 years of age, it is against federal law to operate an Internet casino within our borders. Thus, it is somewhat of a tricky process for foreign casinos to get PayPal approval for Australian residents. Many Microgaming casinos have not yet gone through the process of acquiring PayPal as a banking option for Aussies, largely because there are other means such sites can offer without the stringent requirements imposed by PayPal.
While it may not be advertised or listed among the supported options when you go to either fund your account with Australian currency or cash out, some real money online casinos will make PayPal available upon request. In most cases this is only for withdrawals into one’s PayPal account, and will be offered (or not) entirely at the operator’s discretion.
Again, this is largely because Net casinos prefer to promote other e-banking methods which are not wrapped in red tape and prohibitive policies.
Alternative Deposit & Withdrawal Methods for Australians
Online Casino Paypal Deposit Australia Online
Thankfully, PayPal isn’t the only secure banking option on the market. Australians can choose from several Web wallets at our trusted online casino sites:
- Neteller
- Skrill (Moneybookers)
- EcoPayz
- ClickandBuy
- Click2Pay
All of these options come with an exclusive 10% deposit bonus at our recommended Fortune Lounge casinos. Just enter the unique promo code (e.g. MONEYBOOKERS100) on your first real cash transaction, and you will get an extra 10% in free casino credits on top of your sign-up bonus.
To take advantage of this special offer, register today at Royal Vegas – our number one site for online pokies, real money blackjack, live dealer casino games, and much more.
Additionally, popular services such as Visa and MasterCard credit and debit cards, instant banking transfers and POLi are also available for all Australians to use as secure banking methods at our endorsed Internet and mobile gaming platforms.
So at the moment, while it is difficult for Australians to use PayPal to make deposits and withdrawals at certified Internet casinos due to specific regulations, there are numerous other options we can take advantage of that are just as safe and secure.
All our endorsed gaming sites use Secure Socket Layer (SSL) encryption technology and our personal details are not shared with any third-party companies.
PayPal seems to be synonymous with online purchases and payments. Around since 1998, PayPal seems to be one of the few early internet companies that has remained without going under or being gobbled up by some large multi-national. Although purchased by eBay in 2002, PayPal is still the go to payment company for the internet.
PayPal is a money transfer company and not a bank, but is still subject to many of the same rules and regulations. Just like many of the other payment companies, you are required to sign-up and provide either a credit or debit card or a bank account. This provides the customer with certain anonymity where there financial information is not provided to the merchant. With regards to online casinos, the deposit is transacted in the same way with regards to any financial transaction.
Online Casino Paypal Deposit Australia Free
Because PayPal is such a large company, they can demand that their partner companies adhere to strict guidelines and standards. This gives them the ability to terminate their services with any company that breaks their rules or doesn’t comply with their standards of practice. Although this sometimes limits the amount of online casinos that use PayPal, it provides the players with peace of mind knowing that every casino that uses PayPal has to comply with certain standards. One of the rules of having a PayPal casino account is the amount of money you can deposit with regards to a minimum and maximum. At the time of this article it was a $50 minimum and $5,000 maximum per deposit. Amounts and rules change, so be sure to check the current status of both.
PayPal has a huge market, specifically through its relationship with eBay. With this in mind, the online casino market is not their bread and butter which gives them the ability to be particular in who they partner with. This creates less opportunity for the PayPal user in the online casino industry but does provide some solace knowing that whatever casino they are using, that this casino has passed the PayPal test.
http://www.paypal.com