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Bookmakers that accept PayPal for deposit and withdrawal

Most betting sites allow you to make your book with debit or credit cards, but some punters prefer the anonymity of using their PayPal account. It keeps their banks - and occasionally their spouses - from keeping too close an eye on their bets.

Ladbrokes, William Hill, 888Sport, and Boyle Sports are just a few online bookmakers that accept PayPal for deposits and withdrawals.

How to deposit and withdraw using PayPal

Setting up a PayPal account is easy, if you haven't already done so. They can link to your bank account or credit card with just a few simple verification steps. Then, once you are ready to place your bet, just choose the PayPal option on your favourite bookmaking site. This will transfer the funds from PayPal or your credit card, without your card company knowing precisely what was purchased.

For withdrawal of winnings, again click the PayPal option, and the money will be placed in your PayPal account to be used for future books, or other online purchases.

Depending on your bank, withdrawing funds from your PayPal account into your bank account can take 2-5 days.

Why should you use PayPal?

PayPal is quite user-friendly, with a simple click-through application. On your favourite bookmaking site, choose the PayPal option, and you will be redirected to PayPal's secure login page to enter your password. Once entered, you are redirected back to the betting site's payment page.

Using an internet wallet service like PayPal provides an added layer of security. It eliminates the need to provide your credit or debit card number directly to the bookmaking site. PayPal has been around since 1998, is a publicly traded company, and is generally a secure way to conduct internet transactions.

In addition to security, PayPal is discrete. If you are not the primary cardholder, using a credit or debit card to place wagers may put you in a pot of trouble, if the account owner doesn't agree with your wagering. If you use PayPal, the primary account owner only sees a transaction through the e-wallet, not the bookmaker.

Is it a safe way to transfer funds to a bookmaker?

Absolutely. PayPal is a very secure way to transfer funds to bookmakers. Since you are redirected out of the bookie's and onto the PayPal login page, the online betting site has no access to your password or funding information. All they see is the transaction from PayPal to their site.

Are there any issues you should be aware of?

The only issues that could arise with PayPal are the fact that transfers to and from bank accounts can be slow. If you link a credit card to your PayPal account, you'll have no problem being able to make your wagers in real time. However, if you and transferring from and to your actual bank account, it can be 2-5 days to complete a transaction. This means if you win big and need that cash in your account the next day to make the mortgage payment, transferring it via PayPal to your account may risk putting you in arrears. The same goes for the reverse: If you are placing a bet for five days from now, PayPal can withdraw it from your account to the bookmaker before the game. But if the wager is same-day, you will likely not be able to place the bet unless there are sufficient funds already in your PayPal account to cover the amount.