Betting on electronic sports is becoming easier by the day. E-sports are slowly growing into mainstream offerings at online gambling sites. The sector has experienced exponential growth for the past few years and continues to enjoy a favorable performance.
Projections indicate that by 2024, esports betting will generate an estimated revenue of $862m. One element that is fueling this surge is the increased convenience of online esports betting. The availability of online payment methods like PayPal has made gambling on esports uncomplicated. PayPal is among the most popular banking solutions on esports betting sites, and you can find out why.
PayPal and Betting
Virtual wallets drove online gambling to new heights, and PayPal has been at the forefront. The company developed the first digital wallet in 1998. PayPal initially served small merchants, but over time, it built a reputation that made it a sought-after payment solution.
In the early 2000s, the virtual wallet began facilitating transactions on online gambling websites. Gamblers could easily pay with PayPal to play casino games and poker. For a while, the company stopped supporting gambling operations. However, it was back around 2008, partnering with online bookmakers in the UK, including William Hill and Betfair.
Over time, more gambling operators offered Paypal as a payment option. When bookmakers started offering esports markets, the digital wallet was among the popular banking options. Now, punters have a good number of top PayPal betting sites where they can wager on a variety of esports.
However, the payment company prohibits transactions in regions where gambling is illegal. Because the wallet is available at some of the best gambling sites, bettors can expect to find popular esports like CS:GO, Dota 2 and League of Legends.
The Appeal of PayPal for Esports Betting
What does PayPal offer for esports gamblers? A solid reputation, for one. For close to two decades, PayPal has carved a remarkable reputation as one of the top digital wallets in the world. Online esports betting relies a lot on trust. Punters have to be confident about the banking methods that they use on betting platforms.
Paypal is well-recognized thanks to the superior standard service that it has been providing for years. The virtual wallet is simple to use. If you are getting into esports betting for the first time, PayPal is highly recommended as a payment method. You only have to sign up, link a card and start gambling.
Note that the online payment service doesn’t have any fees for account registration. The availability of PayPal across various regions is a huge plus point, as well. Punters who are always on the move can still access their accounts in many places. Most esports betting websites don’t disqualify PayPal when it comes to deposit bonuses.
However, you have to confirm with a specific operator. Customers can transact in over 20 currencies with PayPal, and that is an advantage when betting. Additionally, the wallet allows deposits through various means, including debit and credit cards. Punters also benefit from speedy transactions. PayPal deposits are instant, while withdrawals take a few hours.
As with any product, PayPal is not perfect. Punters might incur some charges when using the virtual wallet for deposits and withdrawal at betting websites. Due to the strict regulation of the payment service, not every esports betting site offers it.
Are PayPal Payments Safe?
Now you know why PayPal betting platforms are popular but are they safe? PayPal built its name on safety. It prides itself as among the most secure virtual wallets, and for good reasons.
The company has strict security measures to ensure that every customer is safe. PayPal uses high-end encryption to guarantee that every transaction is secure. When you deposit or withdraw at an esports betting website, you have to submit sensitive data. PayPal makes certain that the information on their end is well protected.
It also doesn’t share customer information with betting sites. The digital wallet tracks each transaction to minimises the risk of identity theft, fraud and email phishing. Customers also have full access to their account history, so you can check on transactions when necessary.
PayPal is a reliable online payment method that contributed a great deal to the rise of esports betting. The digital wallet is fast, simple to use, and secure, which makes betting uncomplicated. Seasoned bettors and beginners alike will find a decent selection of esports betting websites that accept PayPal.