Personal bank accounts to finance online casino games are illegal in most of the United States. PayPal offers a viable alternative as a way to send and receive money when participating in online gambling.
PayPal is not technically a bank. However, some federal agencies claim that PayPal is, in fact, a banking institution because of the way it manages financial transactions and saves money for long periods. PayPal is opposed to this feature, stating that since it does not charge any interest or account fees and does not have a bank letter, the government should not designate it as a bank.
PayPal is a safe and convenient way to use for all types of online financial transactions. However, if you use it to finance online bets, do not make transactions directly with PayPal, since the IRS can link payments from your bank account to your PayPal account and, finally, to your Online casino account. Also, as a US company, PayPal will not allow payments in online casino games.
Online gambling sites, realizing that many people use PayPal as a way to complete online financial transactions, offer help transferring money from their PayPal account to an approved E-wallet for online gambling. However, many companies can charge 40% for providing this service. These transfer companies may also have a dubious reputation for reliability to ensure your money goes to the destination. Avoid this type of money transfer companies and respect established and legitimate financial services.
If you use PayPal to deposit funds into your online gaming account, you must use your PayPal account to purchase a prepaid credit card and use it to add it to your casino account. Therefore, it stays away from the transaction, and neither the IRS nor the casino knows where the money comes from. Remember that prepaid credit cards do not evaluate a transfer fee or a refill money transfer, although some may charge an activation fee of around $10 and a minimum monthly fee.
Online casinos, for more successful and established games, offer PayPal as a payment option in most countries outside of North America. Some people create a foreign bank account and use a credit card based on this account as a PayPal reference account.
As PayPal is a bit difficult to use to fund your Veilig online casino account, you can choose a bank transfer service, such as MoneyGram, which is simpler and does not allow anyone to know how to transfer money to your casino account. The online game is much more fun if you do not need to worry about getting into something illegal. For more information on the above, you can click here.