Top Canadian Online Casinos That Accept Paypal
Taking part in casino games online is a popular pastime in Canada. In order for gambling to remain carefree and entertaining, players need to make sure they’re using a convenient, reliable, and secure payment method that can process their transactions in a heartbeat.
This is where PayPal enters the picture. Established in 2002, this popular e-wallet has been operating as a premier electronic payment method for over two decades. With its ease of use, robust security, and short processing times, PayPal has become the go-to online casino banking option for many Canadians.
Keep scrolling to discover all about this payment method and learn how to use it to make quick and convenient online casino deposits and withdrawals.
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What Is PayPal?
PayPal is an electronic payment method or e-wallet used for online transactions between users or between individuals and merchants. Its roots can be traced back to 1998, when Peter Thiel, Max Levchin, and Luke Nosek co-founded an electronic payment company called Confinity. Two years later, the company merged with Elon Musk’s X.com and went public as PayPal in 2002, generating over $61 million before being acquired by eBay for $1.5 billion the same year.
In an effort to grow and strengthen its services, PayPal took over VeriSign in 2005 and started collaborating with Mastercard in 2007. These expansions, among other things, helped it reach over 100 million active users in 190 markets by 2010.
In 2015, eBay spun off PayPal as a separate company, and PayPal bought Xoom Corporation, increasing its international presence. Its partnership with Visa in 2016 led to 40+ strategic alliances with companies like JPMorgan Chase and Bank of America.
In 2022, PayPal and its subsidiary Venmo introduced a digital wallet service and Checkout with Crypto, making cryptocurrency transactions more accessible. Today, PayPal serves 202 markets with over 426 million active accounts and enables global transactions in 25 currencies.
As a digital wallet, PayPal can store your money or act as a payment processor, handling transactions to and from online merchants, including online casinos.
To make online payments with your PayPal account, you must link it to a card or bank account and transfer money there. You can also withdraw using PayPal and store your money there or withdraw it to your bank account.
Essentially, PayPal works as a bridge between your bank and online casino account. It lets you deposit and withdraw in a secure and convenient way without divulging any of your banking details.
Canadian online casinos that accept Paypal don’t usually have any fees for your deposits. What’s more, PayPal won’t charge you for these transactions, meaning you can transfer the money to your online casino balance for free.
When it comes to withdrawals, however, some sites may impose withdrawal fees, but that’s not very common. PayPal, on its end, takes 2.90% for your withdrawals, plus a fixed fee of $0.30.
Pros and Cons of Using Paypal for Online Casino Payments
Before you start using PayPal for online casino payments, it’s vital that you get a sense of how it works. Let’s take a look at the e-wallet’s most notable pros and cons.
|PayPal casino sign-up|
- Convenience — Making money transfers with PayPal is easy and fast. The platform has a user-friendly interface, which lets you complete transaction requests in just a few clicks. What’s more, you can make payments with ease via desktop and mobile devices.
- Reputation — With a history spanning over two decades and millions of satisfied customers worldwide, PayPal enjoys a high level of trust. Thanks to its impeccable record, it is a reliable option for moving your online casino funds.
- Security — PayPal has robust security features that prevent unauthorized parties from accessing and manipulating your account and funds. In addition, PayPal removes the need to share banking details with the casino operator, thus providing an additional security layer.
- Fast transactions — PayPal is known for being a fast online casino payment processor. It handles your deposits instantly and completes withdrawal transfers within 24 hours.
- PayPal casino sign-up — Some online casinos allow you to sign up for an account with your existing PayPal account. This option makes registering, depositing, and withdrawing faster and more convenient.
- Transaction fees — Although PayPal facilitates free casino deposits, it charges you for your withdrawals. The fee is not too high, but it may still be a turn-off for some players.
- Withdrawal limits — PayPal limits the amount you can withdraw to your bank account to $5,000 per week and $15,000 per month. While this is not a particularly low amount, it might not meet the needs of high-rollers.
How to Create a Paypal Account
As one of the most convenient online banking options, PayPal makes the process simple. Here’s what you need to do to create an account:
Open PayPal’s official website and click on the blue Sign Up button in the upper right-hand corner.
Choose the account type you want (you will need a Personal account for online casino payments).
Complete the registration process by supplying the requested information (country of residence, phone number, name, address, birth date. etc.).
Verify your phone number via SMS.
When your account is ready, you can link it with a credit/debit card or your bank account.
Make sure to check PayPal’s Terms and Conditions and KYC policy to learn all about the verification procedure and the type of cards you can link with your account, as some may not be supported.
How to Make a Casino Deposit Using Paypal
When you’ve set up your PayPal account, which shouldn’t last long, you’re ready to make your first casino deposit. Follow the steps below to do it successfully.
- Find a reliable Canadian online casino that accepts PayPal and create an account.
- Log in to your casino account and navigate to the Cashier section.
- Click on the Deposit option and choose PayPal from the list of accepted payment methods.
- Enter the amount you’d like to deposit.
- You’ll be redirected to PayPal’s site, where you need to provide your PayPal login details and confirm your payment.
- Your deposit will be processed instantly, and you can start playing.
Don’t forget to check the casino’s Promotions section for deposit bonuses before you make a transaction. In many cases, you’ll need to opt-in for the bonus or use a specific bonus code during the depositing process if you want to claim a promotion.
How to Make a Casino Withdrawal Using Paypal
Just like deposits, making casino withdrawals with PayPal is as easy as pie. Let’s take a look at the step-by-step guide:
- Log in to your casino account and go to the Cashier section.
- Choose the Withdraw option and select PayPal as your preferred withdrawal method.
- Enter the amount you’d like to cash out.
- Confirm your withdrawal request via PayPal.
- Wait for the casino to approve your request (24–72 hours).
Note that you’ll have to verify your casino account first. If you haven’t done this beforehand, it can significantly prolong your withdrawal time until the verification process is complete.
Alternatives to Paypal
If you don’t want to use PayPal for your online casino transactions, you can opt for alternative payment methods. Some of the most popular alternatives to PayPal commonly available on Canadian gaming sites include:
- Visa/Mastercard credit and debit cards
In addition, some online casinos in Canada also allow you to deposit and withdraw using cryptocurrencies. Here are some of the most popular ones:
Boasting unrivalled security, transaction speed, and convenience, PayPal is undoubtedly one of the most popular payment methods among Canadians. Thanks to its attractive features, it is also one of the most commonly offered payment methods at Canadian online casinos.
While PayPal does come with some withdrawal fees, they’re not too high, making the overall experience affordable. If you like what this payment processor has to offer, you can start using it today at one of our recommended online casinos.
Scour our list of the best Canadian casino operators, take your pick, and kick-start your thrilling casino adventure today!
Can I use PayPal at online casinos?
Yes, you can. Many online casinos in Canada accept PayPal for transactions, so you won’t have problems finding a suitable operator.
Yes, it does. PayPal is available for both deposits and withdrawals at Canadian online casinos.
It depends on the transaction. Deposits don’t incur any costs, but withdrawals have a 2.9% fee + a fixed fee of $0.30.
PayPal casino deposits are instant, but withdrawals can take a bit more time. After the casino approves your withdrawal request, PayPal typically processes your payment in less than 24 hours.