PayPal is a Deposit Method which can transfer funds electronically.
The company was founded in 1998 as a Digital Funds transferring platform and was acquired by eBay in 2002 with 1 in 4 auctions at the time being paid via PayPal.
The other major market for PayPal through this period was as a gambling transaction processor and PayPal initially was accepted worldwide by all online gamblng merchants, as it meant that payments could be done quickly and without banking details shared with either party.
Following the eBay acquisition, PayPal ceased gambling transactions and didn’t re-enter the sector until 2010 and then only in the territories where online gambling was fully legal.
That decisions persists to today and PayPal is now only available to accept legal gambling transactions with fully licensed online sportsbooks and casinos. It has quickly established itself as the preferred payment method for many professional gamblers as it allows quick and instant movement of funds from one location to the other and with minimal fees for payment processing.
This is especially true in America, where legal sports betting laws have often moved faster than the banking sector. Online Banking in America remains difficult for many people and many banks do not accept gambling transactions.
PayPal is, therefore, seen as an easy alternative and almost all legal casinos accept PayPal as a payment method for casino deposits.