When playing your favorite casino games online, it is important that your funds are protected from any online fraud. Using PayPal is becoming an increasingly popular payment method to select. Just why is this so?
Sadly, there is still a lot of online fraud that takes place. No one wants to see themselves become the next victim to have their personal details accessed by those out to commit fraud.
There is one good way of ensuring fraudsters don’t get hold of your personal details. That is to have as little available as you possibly can. That isn’t the case if you are using debit or credit cards as your payment method at an online casino. There is plenty of information that the fraudster can access and that is never going to be good news.
Those methods do put you at risk because there is a great deal of personal information that can be accessed. If you register with an online casino that isn’t licensed or regulated, that’s even more likely. Such sites might not be encrypting personal information and that makes it even riskier to join them.
With PayPal, there is a very limited amount of personal information available. All that a gambler needs to submit to the online casino is the email address that you use for your PayPal transactions. Any fraudster who does then gain access to your account will be severely disappointed. Just discovering the address of your PayPal account isn’t going to help them.
Even with the address of your PayPal account, gaining access to it is going to be very difficult. They don’t know your password as that has never been used at the online casino. Often an authentication check is required to prove it’s the owner of the account trying to access it.
This can involve a text being sent to the mobile phone of the account holder and the fraudster will find themselves unable to access your account.
It’s not just the safety of using PayPal that is a reason why the payment method is regularly used at online casinos. When you gamble, it is desirable to see withdrawals reach your account as soon as possible.
When you use a debit or credit card (the latter can’t be used in the UK), there is no problem with making deposits into your account. The funds will be available to use almost instantly and it’s the same with PayPal.
However, when you are making withdrawals it is a completely different story. Using a bank card can see a gap of several days between withdrawal and the funds arriving in your account. However, if you choose to use PayPal, then the funds will be in your account right away. There’s also the ability to then transfer the funds to your bank account, again the transaction being completed extremely quickly.
You can see therefore just why PayPal is becoming a popular payment method to use. Online casinos weren’t initially too keen on using the payment method. However, the past few years have shown how useful it can be. Its popularity with online players because of its speed and safety means there are now an increasing number of online casinos that will use this method. That is likely to increase even further in the future.