Paypal Casinos NZ

The History of PayPal

Even while PayPal is commonly associated with eBay and Elon Musk, the company's original roots were rather different. When the firm was created in 1998, it was known as Confinity, and its first focus was on the development of software for security. 

When X.com merged with Confinity a year later, Elon Musk came into the picture. They were forced to concentrate on their online payment system, which would subsequently be known as PayPal, as a result of this merger.

When it went public in 2002, the firm was purchased out by eBay later that year for a whopping 1.5 billion dollars. PayPal would only continue to grow its sphere of influence, becoming the online payment giant that it is today. 

PayPal's Relationship with the Online Casino Industry

Compared to Paysafe online casinos or other dedicated payment methods for online casinos, PayPal lacks a substantial foothold in the online gambling industry. This is mostly because of the Unlawful Internet Gambling Enforcement Act of 2006, which prohibited residents of the United States from playing and so transacting with all internet casinos.

In order to comply with the legislation, PayPal prohibited U.S. gambling and preemptively declared that they would immediately block any gambling-related transactions in all of the territories they service if those regions similarly implemented similar regulations. At the time of writing, online casino players in New Zealand can continue to utilize PayPal for their online casino payments because such regulation does not yet exist.

Another side consequence of the Unlawful Internet Gaming Enforcement Act is that PayPal now needs internet casinos to be approved before they can conduct transactions with PayPal. As a condition of receiving this permission, internet casino operators must demonstrate that they would reject service to the United States and any other territory that restricts online gambling transactions.

Because PayPal has one of the greatest user bases of any online payment program in the world, online casinos wear their partnerships with PayPal as a mark of special recognition.

Using PayPal at Online Gambling Sites

Using PayPal to fund an NZ casino online is a breeze. All you need to do is sign up for a PayPal account on their website or mobile app, and you'll have access to all of PayPal's features. 

After that, use a credit or debit card or a bank transfer to fund the account. Deposits at the casinos of your choice will be possible as soon as the funds are accessible. You will only need to provide your username and password when making a deposit or withdrawal at a casino. Account numbers and 16-digit codes are not required.

Is PayPal actually worth using for online casinos?

Your use case and preferences will determine whether or not PayPal is the right choice for you. If you want to make an educated decision, we've summarized our opinions on the platform in the following passages.

PayPal's lack of coverage is arguably its most significant flaw. PayPal does not support as many online casinos as its competitors like NZ Neosurf casinos and NZ Bitcoin casinos because of its duties to some laws. If you prefer to use PayPal when playing at other online casinos, this might severely limit your possibilities.

However, online casinos that accept PayPal tend to be among the finest, since they have passed PayPal's rigorous vetting system in order to obtain their backing. Staying with casinos that accept PayPal might mean that you'll receive the finest gaming experience and the best security and service reliability, even if you don't have a lot of options. 

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Dale Shelabarger Author

Dale is an author for InsideCasino and an expert in the iGaming sector, with his specialist areas in casinos, online pokies and bingo. dale has written hundreds of casino reviews and iGaming articles over the past 15 years.