In the past 10 years, gambling in the United Kingdom has exploded in popularity – largely thanks to the rise of the online industry. Whereas at the beginning of the 2010s, players’ options for online casinos and slots were fairly limited, now they are almost overwhelming.
As of 2021, the Gambling Commission had issued a whopping 3,600 licences to online gambling companies in the UK. Despite some of the tightest regulations on the planet, there are still some unscrupulous providers that slip through the cracks.
The types of providers that will make you wait for weeks on end to withdraw your winnings, or even worse, providers that simply never payout. Fortunately, though, there are steps that you can take to maintain your security and money whilst gambling online, one of which is using PayPal.
Read on to find out why you should be using PayPal when you gamble online and where you can find the best online slots for PayPal payments.
What is PayPal?
The history of PayPal is well documented. In 1998, Peter Thiel, Luke Nosek, and Max Levhcin launched Confinity, a company that specialized in security for handheld devices. Unfortunately, the trio was around a decade ahead of their time, and the business flopped.
A year later, though, they decided to pursue another idea of a digital wallet, so PayPal was launched. The service allowed people to make fast, secure, and low-cost payments in the new and changing online world.
Over the years, PayPal has diversified and is now a common payment method in face-to-face transactions, offering low-cost payment processing services to small and large businesses alike.
eBay, a famous e-commerce company, has benefited hugely from this. Its consumer base largely relies on payment platforms to conduct its business efficiently in terms of purchasing and selling goods. Future experts even predict that payment systems will only become more frequent as we progress to a cashless society.
(Payment software offers businesses a variety of protection)
Why use PayPal?
Okay, so you know that PayPal is fast, secure, and a low-cost option for most businesses, but why else should you be using the service? Well, here are a few reasons that should give you food for thought:
Protection: PayPal uses 24/7/365 data encryption and anti-fraud technology to keep all of your sensitive personal data safe and secure. In addition to that, PayPal offers you an extra layer of protection when it comes to buying services and goods.
If you buy something and it isn’t as advertised, then you can request a refund from PayPal.
Ease: PayPal is super easy to use and essentially idiot-proof. There are no confusing hoops to jump through when opening your account. The customer service feature is easy to use and renowned for being fast and friendly.
Fraud Radar: There are a number of steps you can take to ensure that you are safe online, including properly researching any company that you plan on making a transaction with. PayPal does their research, too – extensively. Meaning if a company is cleared to take payments via PayPal, you can be relatively assured that they are a safe bet to trade with.
Why Play Online Slots with PayPal?
It’s self-evident that PayPal gives you a layer of security and protection that you simply can’t get anywhere else in the modern market. They are incredibly important factors to consider when it comes to the world of online gambling.
With every passing year, the industry is growing as more and more companies try to muscle in and make their fortune. Naturally, there are going to be dozens of providers that slip through the nets of regulation and legislation and end up putting players out of pocket.
PayPal gives you a great defense against that, ensuring that your data, such as your bank details and address are safe as well as giving you recourse to claim back any money that has been falsely withheld from you.
If you’re still not sold on the efficacy of PayPal, take a look at the gambling providers that accept it as a payment method. By in large, it is the big, respected, and trustworthy companies like Wink Slots that are leading the way.
Consumers’ motivations for using gambling providers are that they are drawn by the action-packed excitement of playing with the potential of winning huge pay-outs; through PayPal, you can withdraw and deposit winnings efficiently.
Have any tips or tricks for staying safe online? Let us know in the comments section below.