New York PayPal Betting

PayPal is an easy, online way to send money to people, pay for goods and services, and generally just get by in the digital world without handing out your credit card details or bank account information.

Want to pay a buddy back for getting your lunch the other day? Do it with PayPal. Feel the need to splurge on camping gear for next summer? Most stores accept PayPal.

Got a solid theory for next weekend’s match between the New York Jets and the Dolphins? All you need is your New York sportsbook and a PayPal account.

How do I sign up with an account for New York PayPal betting?

Setting up a PayPal account is easy. Even better: it’s free. All you need to get started is an email address and some basic info. Later, you’ll need a credit card, debit card, gift card, or ACH / wire transfer details to drop some funds in your account.

What does it cost to use PayPal?

Like we said: it’s free to sign up. It’s also free to send money to individuals—like your friends and family—but it costs to accept or send funds for business. PayPal also charges a 1% access fee if you want money right now—it’s free to do bank transfers, and those can take a few days.

Let’s cut to the chase: here’s how you use PayPal to get in on the action at your favorite New York online betting site.

Betting sites with PayPal deposits in New York

1. Visit your NY online sportsbooks deposits page
2. Key in the amount of your deposit
3. Click the PayPal button
4. Follow the prompts in the PayPal platform to confirm your payment amount

That’s it. From there, your payment will be approved and you’ll find yourself back at your account page—with a much fatter bankroll.

Betting sites with PayPal withdrawals in New York

1. Visit your NY sports betting sites withdrawals page
2. Key in the amount of your withdrawal
3. Click the PayPal button
4. Follow the prompts in the PayPal platform to confirm your withdrawal amount
5. Check the box that accepts your sportsbook’s terms and conditions for payouts

That’s it. From there, your withdrawal request will be processed by the sportsbook. Provided it’s within the withdrawal limits, and no strange activity is detected in your account, your request should be accepted in a few hours—and you’ll get your payout in between 24 and 72 hours.

You should know…

Did we mention that some sports betting sites don’t payout to PayPal? Luckily, our favorite ones do, but you’ll need to check your sportsbook FAQs for confirmation.

There’s a reason PayPal is king of the e-wallet realm. Actually, there’s more than one reason, and we’re unpacking them all for you here.

First on the scene

PayPal was launched as the world’s first ever e-wallet in the late 90s. This was one of Elon Musk’s forays into the tech world—although he would be ejected from the company not long after its launch.

By 2002, PayPal was doing pretty well for itself as mostly a way to pay for stuff on eBay. About 8% of PayPal’s total revenue also came from its use on online gambling sites. When eBay bought PayPal at the end of that year, the e-wallet was virtually unheard of outside of the US.

The end of online gambling

It stopped processing online gambling payments once the merger was completed—a major issue for gambling fans across the country. Some other e-wallets were created to fill the void—both of which landed in hot water with the Securities and Exchange Commission (SEC) in the mid-2000s.

Speaking of hot water, PayPal was also fined $10 million in a civil case in Missouri around that time. The amount was estimated to be the profit the e-wallet had grossed while it processed online gambling payments in the state.

And the beginning of online gambling…again

From 2002 to 2009, PayPal stayed away from the betting market. But the industry was lucrative, and PayPal decided to try again—this time legally. They paired up with fully licensed online betting sites, first in the UK and then, as legal and licensed jurisdictions opened up, in the US.

Welcome to daily fantasy sports

It may have taken a while for legal online sports betting to catch on in the US, but in the meantime—we had DFS. That was the next big move for PayPal, who came in to handle payment processing of skill games in a whopping 45 states.

A match made in heaven

Over time, PayPal continued to claim the lion’s share of the online gambling market—eventually being accepted at most major, licensed sportsbooks. Caesar’s, DraftKings, FanDuel, BetMGM, and William Hill have all come on board to accept PayPal as a banking method in New York.

Fast forward a couple of decades, and PayPal is the unofficial e-wallet of choice at most major sportsbooks in NY. So what does it have to offer that some of its competitors don’t? And what are the negatives of backing the world’s top e-wallet?

Pros of using PayPal for betting in New York

• Excellent online security for payment processing. PayPal is trusted by millions of sites worldwide.
• Instant deposits mean you can place your bets almost immediately.
• Easy to navigate interface makes it quick to find what you need within the PayPal platform.
• Innovative technology. Intuitive mobile apps for all major operating systems.
• Widely accepted, wherever you go in the world.
• 24/7 customer support by phone, email, or live chat.
• Extensive online support through their help forums.

Cons of using PayPal for betting in New York

• Minimal transaction fees: 1% for instant access, plus instant account fees for business transactions and small bank transfers.
• Minimal wait times for payouts: expect delays of up to 3 days for withdrawals (but keep in mind that this is a lot faster than some other banking methods)

We tend to reach for the same four New York sportsbooks and keep them in heavy rotation. All of them accept PayPal as a banking method, and—even better—you can use PayPal for both deposits and withdrawals. Nice, right?

The PayPal sportsbooks options in NY

FanDuel

Fans always flock to FanDuel NY when it launches anywhere in the US—and New York was no exception. With stellar odds, top of the line bonuses, competitive betting lines, and an overall awesome betting experience, is it any wonder FanDuel remains the fan favorite?

Plus, it accepts PayPal for both deposits and withdrawals in New York.

BetMGM

The absolute GOAT of live sports betting, BetMGM NY also has international brand backing, instant ID verification, a beautiful user interface, celebrity endorsement, and generous deposit matches. Did we mention it accepts PayPal for deposits and withdrawals in New York?

Caesars sportsbook

You might know Caesars NY for its out of this world loyalty program. It is the undisputed best in the country for rewards, promos, and credits. They also delivers competitive odds, expert commentary, and a solid futures market—as well as PayPal for deposits and withdrawals in New York.

DraftKings

Last, and by no means least, DraftKings New York is always our go-to sports betting site. One of the highest performing mobile betting apps in the US, it’s also got a beautiful user interface, generous bonuses, a deep betting menu, and irresistible odds. Throw in a strong live betting platform, international branding, and PayPal for deposits and withdrawals, and we’re on to a winner.

PayPal is a great banking method overall, but how does it stack up against the competition in New York?

In this section, we’re ranking our top 5 payment methods (spoiler alert: PayPal is way up there).

#5. Retail methods

If you only ever carry cash—or you’re trying to fly under the radar—PayNearMe is the only option for you. Make cash payments from participating retail outlets by generating a barcode on your phone.

Not the fastest method—you need to generate the barcode, get to a retailer, pay cash, then wait for the payment to clear—but if you’re anti-digital, it’s a pretty reliable way to go.

#4. Cards

You already know how to burn the Plastic Fantastic, right? Wield it the same way you do for all your online shopping. Credit cards on New York sports betting sites are pretty much a one-way street: you can use them for deposits, but not usually for withdrawals.

Another downside to paying by credit card? Some providers (like your bank) might set low deposit limits to counter credit card fraud and identity theft. Even worse, a deposit may be treated as a cash advance—in which case you’ll have to deal with high interest rates.

#3. Other cards

Relatively new on the scene, Play+ cards are quick and easy to use, accepted anywhere Discover card is accepted, and can often be used at New York sportsbooks for deposits and withdrawals.

#2. PayPal

We’ve said everything we can about this one—it’s a winner.

#1. E-Check

Ok, maybe there is one banking method that beats PayPal—and it’s this one. ACH is accepted at every licensed NY sports gambling site for deposits and withdrawals, it links directly to your bank account, and it’s secure.