PayPal is an online payment system, also known as e-wallet. This digital wallet is linked to a particular credit card or personal bank account and actually functions as an intermediate step in paying and receiving amounts of money.
How does PayPal work?
The first step is to create a personal account on the PayPal website itself. This can be done in a few mouse clicks and costs you absolutely nothing. The only information you need to provide is an email address and an account number.
PayPal will deposit 0.01 euro on this account number as verification, whereby the communication is a code that you have to enter on the website. Once this code has been checked and approved, your personal PayPal account is active.
You can now work in two different ways. A first way is to deposit a certain amount into your PayPal account, which is increased or decreased by this specific amount paid or received with each payment or deposit. In addition, it is also possible to link a bank account or credit card to your personal PayPal account.
When you make a payment, the amount is automatically and directly deducted from that account.
What are the advantages of paying via PayPal?
PayPal is a secure system because privacy-sensitive information such as bank details is not visible. As a player, you only need to provide an email address and a bank account to create an account. An additional advantage of the PayPal system is that you can make payments without having a credit card.
The system for paying and receiving via a prepaid card is therefore much more accessible than, for example, Mastercard or VISA.
Beware of the high transaction costs when making a deposit
Keep in mind that PayPal often charges sky-high transaction costs with every online transaction. The percentages that are charged differ per casino.
It is therefore certainly worthwhile to read the fine print of the payment conditions carefully.
Pay with Paypal in a Belgian online casino?
Unfortunately this is no longer possible. It is true that the Belgian legislators have approved a new law on games of chance and made it effective from 1 June 2019.
With this law, the government wants to protect players with a gambling addiction by preventing them from gambling with money that they do not have in their account.
This means that it is forbidden for all online casinos, arcades and betting shops to allow payments with a credit card such as VISA or Mastercard, but it is also not allowed to let a player pay with an e-wallet.
You can also perfectly deposit money on a digital wallet from a credit card, which means that you can also gamble with money that the player does not actually have.