PayPal Sports Betting Deposits
Online sports betting PayPal deposits have long been the holy grail for legal sportsbooks operating outside of US jurisdiction, but due to national banking regulations, these sites are not able to accept PayPal transfers directly. Thus, when searching for betting sites that use PayPal, USA customers were historically out of luck.
But today, their luck is finally changing, as the best legal online sportsbooks are finally experimenting with ways to allow members to fund bets easily, safely, and quickly with PayPal. PayPal sports betting deposits are now available at some of the leading operators like Bovada via a unique banking transfer service called MatchPay. In addition, you can also finally buy cryptocurrencies using PayPal, with which you will likely be able to make fast, easy sports betting deposits in the future (PayPal BTC trading is TBA).
By using MatchPay, sportsbooks allow members to make PayPal payments to fellow sportsbook members, who sell all or part of their account balances to new or returning members using this deposit method. It’s an easy process and simply requires a free MatchPay account in addition to a free sports betting account. Read on to learn more about PayPal sports betting options using the new MatchPay service, as well as why crypto betting via PayPal could be just as big of a gamechanger!
What Is PayPal?
PayPal is an online instant payments platform that allows people and companies to send money between one another electronically and instantly. PayPal was popularized by eBay, which has owned the brand since 2002. As of 2019, PayPal is the most heavily used P2P payment service on earth, with an estimated 305 million active users. Chances are, you already have a PayPal account, and you probably use it regularly.
Now, with the advent of MatchPay, you can actually use PayPal to indirectly fund your online sports betting hobby quickly and easily. Because betting sites have historically not been able to take PayPal transfers directly, the MatchPay-PayPal solution is a big deal for both operators and bettors alike, opening the door to much greater membership numbers and better odds, lines, and bonuses for everyone.
The same could soon be true for the equally new PayPal cryptocurrency options that allow users to buy Bitcoin and various altcoins right inside the PayPal app itself. While PayPal crypto transfers are restricted at launch, once they're available, they'll be a legal sports betting home run!
PayPal is a trusted name in money-transfer services, and now that sports bettors can also use PayPal for all their online sports betting banking needs, putting money on your favorite players and teams just got that much more convenient. With PayPal, you can pay, pal. And, naturally, you can get paid, too!
Is It Legal To Use Online Sportsbooks That Accept PayPal?
Yes! In those comparatively few states with legal sports betting already up and running, PayPal deposits are an option at many sportsbooks operating within their borders. That said, there aren’t many PayPal betting sites for US players to choose from when gambling with overseas operators, as various US gambling laws – like the UIGEA banking restriction – prevent PayPal from processing payments to or from international bookmakers.
However, there are now some sites that can credibly be called PayPal betting sites, as they have found roundabout ways to legally accept the popular person-to-person instant pay method. At these sites, it is perfectly legal to use PayPal to fund your online sports betting account.
Note: WA and CT residents are nominally barred from gambling online, but we’ve never heard of anyone getting cited, fined, or arrested for doing so in all the years these books have been operating. Still, if you live in WA or CT, please proceed only at your own risk.
How To Buy Crypto With PayPal
In late 2020, PayPal made the watershed announcement that they would be allowing their hundreds of millions of users to buy Bitcoin, Bitcoin Cash, Litecoin, and Ethereum through the PayPal app itself. While outgoing transfers of crypto are not yet supported by PayPal, we expect that limitation to be lifted soon, so bettors won’t have to wait long.
Ultimately, this means that a whole new generation of sports bettors will soon have an easy way to fund their accounts with crypto, allowing them access to the best sportsbook bonuses, the lowest processing fees, and same-day payouts. Right now, the following crypto purchasing options are available through the popular P2P service:
To purchase crypto using PayPal, simply launch your PayPal app and navigate to the electronic currency section. From there, select the coin you want to buy, and submit a payment. Your PayPal account will be credited with your cryptocurrency of choice. Once transfer restrictions are lifted, you’ll be able to send your coins to any other crypto address, domestically or internationally. We recommend using traditional cryptocurrency exchanges until PayPal fully allows outgoing transactions.
After that, if PayPal still bars outgoing transfers to certain addresses like those used by legal online betting sites, that’s not a problem, because you can simply send your crypto from your PayPal wallet to a dedicated crypto wallet or to a crypto exchange. Then, just deposit that cryptocurrency at your sportsbook of choice.
Benefits of Betting With PayPal Deposits
While direct PayPal gambling is not possible at offshore legal sportsbooks, you can use PayPal to fund your account by going through the MatchPay service hosted by Bovada (or you can buy Bitcoin and other cryptos with PayPal, though you can't yet transfer them to your favorite betting sites, so we advise sticking with MatchPay for now).
While Bovada is currently the only reputable online sportsbook offering MatchPay support, we expect other major operators to follow suit in short order.
Naturally, the biggest benefit of using PayPal to make sports betting deposits is the simple fact that you can actually use PayPal to make sports betting deposits! This in itself is a gamechanger, as PayPal is the most recognized and popular P2P payment platform in the world.
Other PayPal betting deposit perks you’ll get when using the PayPal-to-MatchPay service (or the upcoming PayPal crypto exchange) include the following:
- Rapid, same-day deposits to bet on sports ASAP
- Reasonable deposit limits perfect for 99% of bettors
- Use your existing PayPal account
- Mobile friendly – Use the PayPal app to make deposits/withdrawals
- No added transfer fees for deposits or withdrawals
- Valuable online sportsbook bonuses for new deposits + reloads
- Same-day payouts via PayPal payouts for MatchPay Traders selling portions of their account balances
- Same-day crypto payouts sent to your PayPal app's crypto wallet (pending)
PayPal Sports Betting Bonus Options
All the best-rated online sportsbooks offer deposit and account reload bonuses to new and returning customers, and when you use PayPal to fund your sports betting account, you’ll get access to those same bonuses. While Bitcoin sports betting bonuses (and other crypto betting bonuses) will give you more bang for your buck, PayPal deposits via MatchPay earn you the same valuable bonuses that all traditional banking methods do. (If you want bigger bonuses, we recommend that wait a while and buy Bitcoin through PayPal, depositing via that method once the service allows for outgoing transfers.)
When making a PayPal sportsbook deposit via MatchPay, your bonuses will come with the same sports betting promo terms and conditions that apply to other methods. This is called “rollover,” and it means that – if you accept an optional betting bonus – you must wager a certain multiple of your deposit before being eligible to withdraw.
The top online sportsbook sites we recommend all have fair, low rollovers that are very customer friendly, so we definitely encourage you to take these bonuses whenever depositing money into your account through PayPal or any other method.
PayPal Mobile Betting Options
If you own an iPhone, iPad, Android device, or any other modern mobile device, you can download the PayPal app to manage all payments to and from your account. PayPal iPhone and PayPal Android apps have long been mainstays on hundreds of millions of devices, and the ease of use these apps offer is one of the most compelling aspects of PayPal.
Fortunately, you can use your mobile PayPal app through the MatchPay service with any online sportsbook that supports it. And because all the top gambling sites that accept PayPal through MatchPay (and that will soon be able to accept crypto purchased with PayPal) are also entirely accessible through mobile, you are never tethered to your home desktop or laptop computer for banking or betting.
Gambling using PayPal is possible at home and on the go, as long as your sportsbook supports MatchPay or cryptocurrency deposits. So even when you’re out and about, you’re always in the game!
PayPal Betting Payouts
You cannot claim sports betting PayPal payouts directly from your international online sportsbook operator until the PayPal crypto method outlined above is fully launched by PayPal itself. However, MatchPay allows you to claim same-day PayPal payouts right now by selling the money you wish to withdraw to other members who wish to use the MatchPay PayPal deposit option.
When you earmark a certain amount of your bankroll to MatchPay, you’re not only helping new members make their first deposits, you’re also giving yourself a great way to get same-day payouts on eligible account balances.
Before the PayPal-MatchPay method hit the scene, the only way to get same-day payouts was to deposit with BTC or another cryptocurrency (i.e. Stellar deposits) and then claim your winnings through the same platform. Now, at Bovada, MatchPay lets you get same-day withdrawals through PayPal and other supported P2P services like Venmo, Cash App, and Zelle. Likewise, in the future, if you've deposited in Bitcoin or another crypto, you will be able to get same-day withdrawals credited to your PayPal app.
Best of all, there are no associated fees for these payout methods, allowing you to keep more of your winnings. It’s hassle-free, totally automated, and a positive boon for you and your fellow gambler.
Using PayPal With MatchPay
In order to take advantage of PayPal gambling deposits at Bovada and other sites (coming soon!), you have to understand how the process works. Remember, at your online overseas sportsbook, PayPal cannot be accepted by the operator directly.
Instead, you must utilize a service called MatchPay. You can learn more about MatchPay at our MatchPay sports betting page, but the short version for how to use the service is this:
- Click or tap on any Bovada link here (or, when other sites support MatchPay, visit them from this page in the same way).
- Join the site by clicking or tapping the “Sign Up” or “Join” button, usually in the top right corner of your screen.
- Enter your name, address, phone number, and other requested credentials, including your account password. Please remember to use your real information, as you will need to verify your identity before receiving any payouts.
- At the deposit screen, you will see the MatchPay deposit option. Here, you will either log in to your MatchPay account or be prompted to create a new one through the MatchPay plugin.
- Once your sportsbook and MatchPay accounts are set up, simply enter your MatchPay ID and the amount of money you wish to deposit. You will be automatically matched with an existing sportsbook member who is enrolled as a MatchPay Trader, to whom you can send your desired deposit amount through PayPal. This process is overseen by both your sportsbook and MatchPay.
- Upon conclusion of the transaction, your account will be credited with the full amount you sent, and in just a few minutes, you’ll be able to bet on all the sports you can handle.
Important: The MatchPay-PayPal method isn’t exclusive. With MatchPay, you can use other popular peer-to-peer payment services like Venmo, Cash App, and Zelle in exactly the same manner as that described above. MatchPay also isn’t exclusive to legal online sports betting sites, as many retail vendors and merchants are using the service to support account-to-account transfers between active members.
PayPal Sports Betting FAQs
When it comes to how PayPal works for sports wagering, there’s nothing to it. If you’ve ever used PayPal for anything else, the same rules apply.
Simply follow the MatchPay prompts at your betting site of choice, choose the PayPal banking option, and then use your PayPal app to send the allotted amount of money from your PayPal account to your paired MatchPay Trader’s account.
Alternatively, you will soon be able to buy cryptocurrency with PayPal, which you can then use to make direct Bitcoin betting deposits (and various altcoin betting deposits) quickly and easily. At launch, PayPal does not support external transactions, but we'll let you know as soon as they do.
Regardless of the route you choose, you can do it all from your smartphone’s PayPal app, and the entire process takes just a few minutes.
Finally, yes, you can! In October 2020, PayPal officially announced Bitcoin support. Additionally, you can purchase other popular cryptocurrencies via PayPal, including Bitcoin Cash, Litecoin, and Ethereum, with many more to come.
While outgoing crypto transfers are not yet allowed via PayPal, that functionality is coming soon, and it will be a major development for the industry, as prospective bettors and first-time crypto users will have a new, convenient, and trusted way to safely and securely buy BTC with PayPal.
You may even be able to send direct Bitcoin deposits to your overseas sportsbook of choice right from your PayPal app, which has never before been allowed.
Absolutely. When you use MatchPay, your funds are safe, and both MatchPay and your sportsbook (i.e. Bovada) take supervisory roles in ensuring that the transaction goes through smoothly and efficiently.
MatchPay, in conjunction with your sports betting site, uses a similar system as that employed by the Zelle-to-Bitcoin sports betting deposit process, so you can rest assured that your funds will be credited quickly and in full, every time.
Yes. PayPal is a free service to use, though certain retail or person-to-business transfers will incur service charges.
The MatchPay PayPal system used by sites like Bovada does not incur extra charges, as these are personal, private payments to other private individuals.
When you buy crypto with PayPal, you may incur service charges, but this is unlikely, as cryptocurrency blockchains all have minimal transfer fees built in. We will know more once PayPal allows outgoing crypto transfers from within the PayPal app.
No. Because these are private transactions between private individuals, PayPal does not charge an added fee to the money transfers themselves.
As long as you go through the MatchPay service as hosted by your legal sports betting site, you will not be faced with any added fees.
Thus, whatever amount you wish to put into your sportsbook betting account, that’s the amount you’ll get, and you can wager on your favorite teams and leagues immediately.
You can bet on any sport offered by your online betting site of choice after you’ve deposited via PayPal MatchPay banking or PayPal cryptocurrency banking (when available).
Whether you enjoy NBA betting online, MLB betting online, NHL betting online, or NFL betting online, PayPal deposits are simple and secure using the MatchPay service and crypto transfers (which are TBA).
Betting apps that use PayPal were few and far between for American customers until very recently, as gambling using PayPal was not directly supported at offshore sportsbooks.
However, all major offshore betting sites accept Bitcoin and various other cryptos, which you can now readily buy with PayPal.
That said, launch restrictions mean that PayPal doesn't yet allow outgoing crypto transfers, so you should wait before buying BTC with PayPal.
In the meantime, Bovada supports MatchPay, giving PayPal gamblers even more options.
If you buy BTC or another supported crypto with PayPal, all the top betting sites accept cryptocurrency deposits, and you may soon be able to send these payments directly to your sportsbook via the PayPal app (once PayPal allows crypto transfers).
Right now, if you’re interested in betting sites that use MatchPay for PayPal banking, you’re limited to Bovada – which is hardly an actual limitation, given the fact that Bovada is easily the best US online sportsbook!
MatchPay can be used by any legal online sportsbook that chooses to employ the third-party service, but Bovada – as usual – is the first major operator to roll the platform out.
In the near future, we expect all the top online sportsbooks to use MatchPay so bettors can make quick, easy PayPal gambling and sports betting deposits.
No. MatchPay is similar in essence to how QuickBit’s QB Direct banking method works, but they’re not the same thing.
While MatchPay allows sportsbook members to buy and sell account balances (or portions thereof) with PayPal and other P2P platforms, QB Direct is a service that some sports betting sites (i.e. BetOnline) use to allow customers to quickly buy cryptocurrency with traditional credit and debit transfers.
Both services act as convenient go-betweens, but MatchPay has a much wider audience than QB Direct, though there is currently no way to buy Bitcoin with MatchPay (or any other cryptocurrency, for that matter.)