Top PayPal Betting Sites in Australia

PayPal is no doubt one of the best online payment services you will ever use in your entire life. Even faced with fierce competition from other modern e-wallets, the features of PayPal still remain unchallenged and exalted. The only drawback we can think of is the conversion rate, but the amount is so minimal that it shouldn’t even be of concern.

We already know how convenient and secure PayPal is, but we want to know more about whether the payment service is suitable for online bookies in Australia or not. Just give this article a read and you will get a clear idea!

What is PayPal Betting?

PayPal betting sites have millions of fans all over the world who use its service on a daily basis. They trust the brand blindly because it provides them peace of mind when it comes to online money transfers.

You don’t need to make any other local alternative payment accounts like POLi, BPay, PayID, or Neteller if you have PayPal, since PayPay is universally accepted pretty much everywhere! Hence, if you are an international bettor currently residing in Australia, you can just use your PayPal for gambling entertainment.

If you want to play at international PayPal betting sites, having a PayPal account will really pay off. As in, you don’t have to limit yourself to Australian betting sites with PayPal just because you live in Australia! You are free to place your bets in whichever country you want to, as long as it is legal!

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How to Setup Your PayPal

To get started with PayPal, visit the homepage, and click on Sign-Up button. You have to choose between a Personal or Business account. Then, enter the information that the system asks of you, such as email address, password, full name, and location.

Keep clicking on Next once you are done filling up with pages. It won’t take long. You will have your own PayPal account in a few minutes! The site may ask for verification of your email address.

Make sure you respond to the request before the link expires. Afterwards, log in to your new PayPal account, and link your debit card, credit card, or bank account.

Now, go on the Google search page, and look for betting sites Australia that accepts PayPal. The betting sites that accept PayPal will display all of its payment methods either at the bottom of the page or in the FAQ section. Look through the available payment options, and once you are sure that PayPal is an accepted method either for deposit or withdrawal, go ahead, and place bets there!

How to Deposit Funds with PayPal 

After checking and confirming that the bookies that you are on accept PayPal, browse through the sites to see if you like their sports and racing market. Because even if betting sites accept PayPal, you don’t have to engage with a low-ranked, poorly structured sportsbook.

There are other things you have to consider when picking PayPal sports betting sites, like their licenses, sports and racing markets, betting types, mobile compatibility, navigation, and reputation. When all the boxes are checked, then you can proceed with making deposits to the PayPal sports betting sites.

Provided you have signed up with PayPal and the PayPal betting sites, log in to your betting account. Go to the Paymentpage, select Deposit, and choose PayPal as your chosen method for depositing. Subsequently, enter the amount you want to wager, and hit Confirm to authorise the payment.

Usually, the deposits are instant, so you don’t have to wait too long for the funds to fill up your betting account. That is why you can start making bets on your favourite sports or races right away!

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How to Withdraw Funds with PayPal 

PayPal withdrawals are as simple as PayPal deposits. If you have successfully deposited money into your betting account before, this one should be a breeze! PayPal betting sites may accept credit, debit cards and other Australia cashless debit card other than just using PayPal for deposits and withdrawals.

Sad but true, the Australian gambling industry has to follow stricter rules than other countries of the world. As such, currently, most notable PayPal betting sites are only accepting bank transfers as their withdrawal methods. There is a perfectly good reason behind this predicament.

To prevent money laundering syndicates from taking advantage of the gambling system, the Australian government has made it compulsory for all Aussie bookies to provide withdrawal funds to bettors through bank transfers only. With bank transfer, the PayPal betting sites can know where and to who the funds are going.

Having said that, you have to provide your account number Commonwealth Bank or other banks in Australia when you are trying to withdraw your winnings from the PayPal betting sites. You can’t use Australia cashless debit card or other familiar methods in this case.

Security Features of PayPal Sports Betting

PayPal uses a high level of security when transferring money from one online account to another. No personal information is shared with unnecessary third-party institutions either. Fraud and cyber theft protection are common security features of PayPal, so have no worries when you are wagering with sports betting sites PayPal.

Nevertheless, don’t just jump the gun after finding a PayPal bookie in Australia, because you have to look at other factors as well to consider the bookie worthy of your attention and trust. For example, you must first check if the sportsbook has the proper license and collaboration with the right gambling authority of Australia.

Then, you must review the sports and races offered by the sportsbook in question. Do they have a good range of sports markets? Are the popular sports and races available on the platform? What are the different types of bets permitted by the bookie?

On top of that, you have to check the other payment methods that the Australian bookie is offering. Does it have reputable and secure payment methods for deposits and withdrawals? Does it accept PayPal credit card?

Lastly, test whether the betting establishment has a well-rounded customer support system. By that we mean, does it have an informative FAQ page, live chat feature, email and phone contacts? What are other people saying about the bookie in online reviews?

In all, make sure you consider all of these things before you even attempt to deposit your precious money or share your banking details with any bookmakers in Australia or anywhere else.

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Pros of Using PayPal Bookmakers in Australia 

Few Seconds Money Transmission

Whether deposits or withdrawals are carried out within seconds when it comes to PayPal. Even if it doesn’t take seconds, you can be sure that your money will reach you or be sent to your sportsbook within 1 to 2 days.

Top-Notch Security

For the funds you transfer through sports betting sites PayPal, it undergoes the 128-bit SSL encryption technology which ensures that none of your financial information is stored by betting sites PayPal or shared with other third-party institutions. it doesn’t matter which PayPal betting sites you are depositing to, PayPal will make sure that you are transferring money to a licensed and regulated site.

Good Reputation

PayPal has had an excellent reputation since it started operation in 1998. In fact, it is one of the best money transfer systems that replaced money orders and cheques. With a revenue of $25.37 billion, the platform is indeed doing quite well.

Linked to Your Bank Account or Card

Clearly, PayPal betting in Australian sportsbooks has become popular over the years with most people relying on the online payment method for making deposits and receiving withdrawals from the bookies.

For this to work, you have to make sure that your PayPal account is connected to a source of fund which can be your credit card, bank account, or e-wallet account.

You also don’t need to deposit any money to your PayPal account as with Neteller, because it is already linked to your bank account, cashless debit card or credit card. So, the money is processed instantly without having to upload funds to your PayPal account.

With attention, PayPal only works with betting platforms that are fully licensed and are regulated by proper gambling authority bodies.

Supports Several Currencies

Currently, PayPal supports 25 currencies while being available for service in more than 200 regions. Therefore, your online transactions are not limited to Australia as you can buy anything from any part of the world.

Of course, there is a currency conversion rate imposed on your financial dealings if you are paying to foreign casinos and sportsbooks. However, for Australians betting on Aussie platforms, you are not required to pay any currency conversion rates.

Considering all of these points, you can be sure that PayPal indeed is one of the safest, quickest, and most reliable payment methods for Australian punters. It will be hard to find someone who disagrees with this!

Cons of Using PayPal Bookmakers in Australia 

Currency Conversion Rate

PayPal betting sites impose conversion fees for currency exchange. The rates are not even too intense, like 3% to 4% of your transaction amount. MasterCard and VISA have a higher currency conversion rate, so PayPal betting sites are not even crossing the threshold.

Converting US dollars to Canadian dollars incurs a conversion fee of 3.5%, so for Australian dollars, the rate is about 4%. But if you are depositing to Australian betting sites while living in Australia, you don’t have to worry about currency conversion rates.

No Withdrawal Facility

Currently, withdrawals are not available through PayPal in the Australian sportsbook. Only bank transfer is accepted and it takes 3 to 5 business days to receive money this way.

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PayPal Sports Betting Sites FAQ

1. Why is PayPal good for betting payments?

PayPal is one of the best tools you can use for betting payments because it is fast, reliable, secure, and doesn’t charge much for transactions to betting sites.

2. How long do PayPal betting payments take?

Surprisingly, PayPal betting payments are processed immediately and take no more than 48 hours to transfer money. The time it takes to process payments depends greatly on the frequency of your transactions with the sportsbook.

3. Do you need a bank account for PayPal?

Nope. You don’t need a bank account to open a PayPal account. In fact, you just need your full name, address, phone number, and email address to get started!

4. How high are the PayPal withdrawal fees?

There is no withdrawal fee for PayPal transactions. The only fee you have to pay is for currency conversion.

5. Can I Bet with PayPal?

You are more than welcome to bet on your favourite sports and races with PayPal in Australia. All you have to do is make sure that you are betting on safe and legalised sites. Having said that, you should review the license number displayed at the bottom of the bookmaker’s website before you sign up with that platform.

6. Is PayPal Betting Legal in Australia?

Without a doubt, PayPal betting is legal in Australia as long as the sportsbook of your choice is fully licensed and heavily regulated by the ACT Gambling and Racing Commission. PayPal is also quite strict about which sportsbooks it wants to collaborate with because the platform refuses to engage in establishments that deal with embezzlement.

Verdict – PayPal is a Top Betting Payment Method 

Indeed, betting sites PayPal is doing really well in the gambling industry of Australia. Since most international bettors have a PayPal account, it became easier for them to gamble at betting sites Australia when they are visiting the country, instead of creating a locally acceptable payment option.

What’s more, even though fierce competition may be faced from other e-wallet-based sportsbooks in the country, PayPal can still maintain its upholding as it has a strong brand reputation to back it up. So, if you are still fretting up the minimal conversion rate, it is not even going to affect your transactions!

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