Will PayPal Online Casinos Remain Popular in 2021?
PayPal is, without question, one of the most well-known payment options available. It provides a quick and secure way for consumers to make purchases online. Online casinos that accept PayPal deposits are continually growing as well.
PayPal is also particularly well known in Canada, where thousands of players use PayPal for all their transactional needs at casinos such as Slotnite. It’s among the many companies that you can play your favourite slots with peace of mind.
PayPal Casinos Canada
People use PayPal for far more than just purchasing goods online as our expert Kevin Cochran found. He’s a specialist and well versed on all casino and igaming trends, but you can read more about him here. Many Canadian players are also looking to PayPal as their method of choice when making deposits or withdrawals at online casinos.
An online casino PayPal deposit is one of the simplest ways to add money to your favourite casino and start playing. One of the main advantages is that you don’t have to share your banking details. The funds deposited through PayPal also process instantly.
An online casino PayPal withdrawal is also highly preferred. When using Visa or other cards, processing times can take days. So it can be a while before you finally have your winnings. With PayPal, however, there is no waiting period. Your winnings are processed instantly back to your Paypal account.
While PayPal is undoubtedly popular with consumers, you might be wondering why more casinos haven’t adopted it. The number of PayPal casinos in Canada is still on the lower end. This is because PayPal’s buyer protection guarantee has the potential to create some headaches for casinos.
PayPal’s policy states that if you don’t get the item you paid for, you can get your money back. This doesn’t translate well to casinos because you aren’t getting a physical product. However, it’s possible for someone who ended up gambling away all their money at the casino to try and get it back through PayPal’s protection. While the attempt is unlikely to be successful, we can see why casinos might still be wary of the service.
PayPal Casino List
Searching for PayPal casinos in Canada on your own can be too much of a hassle. That’s why we created this convenient PayPal casino list. You’ll find some of the major casinos in Canada that currently accept payments through it.
Challengers to PayPal
While PayPal was one of the first of its kind, several other companies now offer a very similar service. Neteller and Jeton are two of the main competitors. Jeton is a relative newcomer, having been established in 2017.
Both Neteller and Jeton work similar to PayPal. They allow you to transfer money without having to share any sensitive information with the merchant. They are both widely accepted by casinos as well. For the time being, it still seems that PayPal has greater name recognition than either of these two.
Another major factor that could challenge PayPal is the rise of Bitcoin and cryptocurrencies. You’ve likely heard of Bitcoin in the news over the last few years. Overall, the value and shares have been rising considerably.
Many casinos accept Bitcoin as a form of payment, but the question is, how widely is it used? It appears relatively few people use bitcoin compared to other payment methods. In general, most people still have a low awareness of cryptocurrencies and how to use them.
The future for PayPal
The future looks relatively steady. While many companies have taken a downturn in the recent year, PayPal is holding steady overall. The greater shift to online commerce will contribute to its continued relevance and strength.
In short, it’s not going anywhere anytime soon. While there are other companies that can challenge it, PayPal enjoys much greater name recognition compared to the competition. We think the number of casinos and other merchants accepting it as a form of payment can only continue to grow.