PayPal is one of the largest electronic wallets active in the United States. For New Jersey residents, PayPal is another option for depositing money at any of the Garden State’s many gaming sites.
PayPal is widely found, but not a universal deposit method. With that in mind, here are all the New Jersey gambling sites that accept PayPal.
What NJ online gambling sites offer PayPal as a banking method in 2020? The list is a long one. See our table below for a list of the opening bonuses at some of these top sites.
For starters, you need to have a PayPal account.
To use PayPal for depositing funds into your NJ account, first, you must make sure the site accepts PayPal. If it does, you will also need to have a personal PayPal account.
If you don’t yet have a PayPal account, it only takes a few minutes to open one. Be sure you open a PayPal personal account rather than a premier or business account.
This account must be in your name and linked to one or more specified bank account that is also in your name.
You cannot make a sportsbook or casino deposit using a PayPal account owned by a family member or friend.
Also, you must use the same email address for your PayPal that you use for the sportsbook. And, of course, you must have enough available funds in your PayPal account to cover the amount you intend to deposit. Otherwise, the transaction will be declined.
Once all of the above criteria have been satisfied, the steps you need to follow to deposit at an NJ online sportsbooks using PayPal are:
You can make your deposit either directly from your PayPal balance or with the bank account that is linked to your PayPal account. As soon as your deposit is accepted and approved, you will receive a confirmation from the sportsbook.
The whole process should proceed quickly and smoothly. However, if you run into any problems, customer support can help.
By the way, as long as you are using PayPal as your deposit method, you will be able to use PayPal to make withdrawals, too.
Yes, there are 16 licensed sports betting sites available to serve players in New Jersey, and 10 online casinos accepting PayPal. PayPal is a convenient way to fund your betting account. Also, it can come in handy for withdrawing your winnings.
So, the good news is that players who are in regulated online gambling markets, including New Jersey and Pennsylvania, can use PayPal as an option for deposits and withdrawals.
Here is the full list of PayPal gambling sites:
In total, PayPal is accepted by at least 12 NJ online casinos to date:
Withdrawals via PayPal are available to players that use the method to make a deposit.
Below are the sites that currently offer PayPal:
Only a few NJ online poker sites accept PayPal:
Using PayPal for online sportsbook deposits is faster when your PayPal account is already sufficiently funded.
Otherwise, you have the following options to fund to your PayPal account:
Direct transfers from your bank account can be made by electronic check or wire transfer. PayPal does not charge any fees for these transfers. However, there may be fees assessed by your bank for wire transfers or by the other e-wallet initiating the transfer.
You cannot use a credit card, such as Mastercard or Visa, to fund your PayPal account for gambling purposes in the US.
Once you have your account set up, you will need to login to the casino / sportsbook cashier and initiate a transfer. Deposits with PayPal are instant.
As long as you used PayPal as your method of deposit, you can also use it to make withdrawals.
Here is the procedure you will need to follow:
You have three options:
If you need the money right away, your best option is to transfer the funds to your PayPal debit card. Then, you can get the cash from an ATM or use the money for purchases almost immediately.
If you transfer the money to your bank, it generally takes one business day for the funds to show up in your account. The slowest withdrawal method is check by mail, which could be more than a week.
PayPal is one of the many alternative methods you can use to fund your NJ online gambling account.
And, like the others, it has advantages and disadvantages. However, in terms of convenience, security, and reliability, PayPal is one of the best options available.
No, the PayPal account must be in your name. Paypal verifies all accounts prior to being able to use it.
No, it must be a personal account owned by you.
No, New Jersey gambling sites do not accept this type of transaction.
Yes, as long as the gambling site accepts PayPal. If you use your PayPal account to make a deposit, you can also use it to withdraw funds. However, if you use another deposit method, you will not be able to use PayPal for withdrawals.
Absolutely, with PayPal, it assures 100% privacy and security with every financial transaction you make.
PayPal has been in existence for many years.
The company started as Confinity in 1996, then merged with the online banking company X.com in 2001, resulting in changing its name to PayPal.
As the first significant e-wallet, PayPal quickly became the leading choice for online gambling sites accepting US players at that time.
Then in 2002, PayPal was acquired by eBay. However, soon afterward, the company ran into legal problems.
A $10 million settlement was paid to the US government, and PayPal ceased accepting payments for online gambling in the US and abroad.
Subsequently, PayPal became a separate entity from eBay. However, PayPal didn’t re-enter the online gambling industry until 2010.
This time, PayPal took a much more cautious approach and would only do business with websites that were fully legal and licensed in regulated jurisdictions.
At first, the option was limited to licensed and regulated European gambling websites. Then Nov. 26, 2013, marked the launch of legal online gambling in New Jersey. However, it was not until 2015 that any NJ gambling websites started accepting PayPal.
In what arguably amounts to the biggest news in regulated iGaming since New Jersey launched its first wave of sites in November 2013, PayPal was listed as a depositing option on WSOP.com in Nevada in September 2015.
New Jersey followed shortly after.
The introduction of PayPal payments lends increased credibility to legalized gambling in the United States.
Until now, PayPal has adopted a strict stance against gambling transactions, not only prohibiting them but blocking users that made even the slightest allusion to gambling when transferring money to other users.
Other upshots include:
It should be noted that players hoping to deposit via PayPal must wield a PayPal account that is linked to the same email address as their WSOP.com account. This may prove to be a challenge for players who created PayPal accounts several years ago and changed their primary email address since.
Secondly, players must have a Personal account to make a deposit. Premier or Business accounts are not accepted by NJ online gambling sites.
Before PayPal, Caesars/888 online casinos ranked low or lowest among New Jersey sites in revenue. Since there have been months where Caesars gravitated to the middle of the pack.
Caesars currently ranks a distant second among NJ online poker networks but has moved ahead of Borgata/Party in the past year.
So clearly the inclusion of PayPal has helped Caesars’ position in the market a bit, but the results are far from jaw-dropping. And now that its window of opportunity has closed (non-Caesars sites are beginning to offer PayPal), any headway it made relative to other operators is either shrinking or gone.
That being said, increased revenue is never a bad thing — and Caesars-affiliated sites have experienced that since going live with PayPal.
Looking forward, PayPal’s stamp of approval may push the envelope in states considering passing iGaming legislation, as it grants increased reassurance that legal gambling sites are secure and trusted places to transfer funds.
That, and PayPal’s addition all but guarantees that operators will generate more tax revenue for state coffers than they would otherwise.