Credit cards, debit cards, bank wires, cryptocurrency, and even money orders are commonly accepted forms of deposit at online sportsbooks. While these options may seem plentiful enough, many players prefer using P2P banking apps like PayPal, Venmo, Cash App, and others to make online purchases.
Until recently, the only way to use a popular peer-to-peer application to make a sportsbook deposit was to purchase a voucher code from another member of that same site. This could be accomplished by arranging a purchase in the user forums or through MatchPay, a third-party app that makes these arrangements for you.
Now, BetUS Sportsbook has become the first operator among our most preferred online sports betting sites to allow for direct PayPal deposits. The process is a little different than normal transactions, however. Here’s what is entailed.
How To Deposit With PayPal At BetUS
The PayPal functionality is built directly into BetUS’s website. You can choose PayPal from the list of sportsbook banking options that they provide.
Eagle-eyed readers may notice the subtext written next to PayPal: “PayPal To Crypto.” That’s because, via PayPal, members are actually purchasing Litecoin and transferring it directly into their accounts.
If you’re not familiar with cryptocurrency or the purchasing of altcoins, don’t worry. PayPal handles the entire transaction for you. First, select PayPal, and then log in at the prompt that will appear.
Players will then be asked to enter the total deposit, which can be typed in or selected from a series of options. The amount of US dollars members choose to deposit will be used to purchase that same amount worth of LTC based on the current market value.
Markets can fluctuate rapidly, but these transactions take five or fewer minutes – we’ve not yet seen any loss or gains in deposit money prior to it arriving in our bankrolls.
Before the transaction is finalized, players can review the deposit information before accepting. Once submitted, the process of acquiring Litecoin will be completed in a minute or two and can be confirmed on your PayPal account activity page.
When the purchase goes through, the money is then inserted into accounts as USD. For example, PayPal uses $50 to purchase roughly 0.40 worth of LTC and then transfers it into accounts as $50 USD.
Unless following the fine details, some players may not even notice that cryptocurrency was purchased. BetUS account holders can then withdraw their winnings using any banking method they allow.
There is no obligation to withdraw using Litecoin, although it is a choice that any member can opt for if they like.
At this time, there is no option for withdrawing payouts using PayPal, but there’s always hope for the future.
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