Do New Payment Systems Signify the End of PayPal in Online Gambling?

PayPal LogoPayPal’s association with online gambling has been established for quite some time. The online payment system is the go-to option for many gamblers, providing simple, secure and quick deposits and withdrawals.

However, PayPal certainly has competition, no doubt about that. The new and improving online payment systems in online casinos will be the main concern for PayPal in the online gambling field.

Recently, Visa Checkout and MasterPass – the e-wallet systems of Visa and Mastercard respectively – have been making headlines with their increasing growth.

Should PayPal be concerned? Are Visa Checkout and MasterPass, along with other electronic payment services, likely to push PayPal to the back of the queue in the online gambling world? Does this news signal the begnning of the end for PayPal at casinos?

We will explore these questions in this article.


Should PayPal be Worried?

PayPal is the largest online payment service in the world, but its dominance has never really extended into online gambling.

The PayPal Competition

PayPal has lots of competition in online casinos, and that competition is growing. Gamblers have a variety of different depositing methods at their disposal including:

  • Standard card payments
  • Pay by phone deposits
  • Crypto-currency deposits
  • Many different e-wallet and online payment systems

Card payments remain the most popular form of depositing, with Visa and Mastercard dominating the field. These two financial giants are mighty competition in and of themselves to PayPal.

Still, recent headlines reporting the growth of the Visa and Mastercard e-wallet services will have given PayPal even more food for thought. When you factor in the growth of a variety of different payment systems at online casinos, PayPal certainly have a lot on their plate to mull over.

PayPal Casino Gambling

In spite of the growth of other electronic payment systems, the PayPal casino is still a very common sight. The bottom line is that casinos are happy to be associated with a company such as PayPal, a service with such a strong tradition and reputation.

Well, casinos are keenly aware of the benefits PayPal bring customers with simple, secure and easy transactions. Also, the amount of PayPal active users, over 244 million at the last count, is a large pool of potential customers.

Different Online Payment Methods

Visa Checkout LogoNow, it’s not uncommon to see online casinos which offer e-wallet payment methods other than PayPal, such as Skrill and Neteller, which are the two largest e-wallet systems used in UK online casinos, by the way.

Furthermore, the likes of Trustly, Zimpler and Sofort are deepening their imprint into online gambling and are becoming extremely popular services for European gamblers to fund their online gambling activities.

Online casinos are not currently offering Visa Checkout and MasterPass. Whilst both services are growing at a considerable rate, the fact that most casinos already provide Visa and Mastercard payment options suggests that casinos may watch this space before hopping on the Visa Checkout and MasterPass trains.

An Overtake of PayPal in 2019?

Animated Thinking FaceSo, the big question: will PayPal’s decline begin in 2019? In our opinion, PayPal’s presence in the online gambling world is not going to change significantly in 2019.

Whilst the competition is growing all the time, PayPal’s prestige and sheer power means it is unlikely that casinos will begin to faze out the American giant from their sites.

Non-Dominance of Online Gambling

PayPal will probably never enjoy dominance over the online gambling electronic payment sphere, but this is a position it has always found itself in.

Ultimately, PayPal use may decline somewhat but a monumental drop in PayPal use at online casinos appears very unlikely.

PayPal’s recent acquisition of the peer-to-peer system, Vimeo, only highlights that PayPal is constantly evolving and, in all likelihood, remaining firmly put in the online gambling sphere.

Best Casino Deposit Methods 2019

Nevertheless, PayPal will be challenged more than ever in 2019, without question. Which casino deposit methods are likely to be the main competitors to PayPal in 2019?

  • Standard card payments. In spite of all the different payments services on offer in the modern-day online casino, standard card payments reign supreme and that looks set to remain the case in 2019
  • Skrill. Skrill and Neteller are the two most popular e-wallet payment methods in UK online gambling. Skrill provides gamblers with the same benefits enjoyed by PayPal users. Skrill account holders will incur some fees for using the service
  • Neteller. Neteller has a very well-established connection with online gambling. Neteller works in much the same way as Skrill. However, the fees for depositing into Neteller are higher than Skrill, which may put some players off
  • Cryptocurrency. As you have no doubt noticed, the likes of Bitcoin and Litecoin are becoming more popular as depositing methods. In 2019, expect more cryptocurrency depositing options to emerge
  • Zimpler. This Swedish service processes casino deposits through your phone. Simply add your phone number, receive a verification code and enter your card details to complete payment. This is a particularly popular payment method in mainland Europe
  • Trustly. Trustly is another Swedish online payment service which allows users to process payments by simply logging-in with their usual bank details
  • Sofort. A German service with a similar concept to Trustly currently available in eight European countries. Consumers select their country and bank, log-in with their usual bank details and confirm the transfer

Visa Checkout and MasterPass are two growing payment services which could make an appearance in online casinos in the future. However, there are reasons to suggest that this may not happen soon.

PayPal Staying Put

 

Animated Slot Characters With PayPal LaptopAt the end of the day, PayPal was the first-mover in the online payment service game and their power has only grown and grown since its inception.

PayPal isn’t going anywhere anytime soon in our opinion. Whilst there are many steely competitors to PayPal, the American outfit is here to stay in the online gambling world.

What's the Bottom Line?

What do you think about the future of PayPal in online gambling? Is PayPal staying put, or is it doomed to a steady decline? Are there better services out there than PayPal? Have you ever had any troubles with PayPal depositing?

Whatever it is, we want to hear it! Comment below to get the conversation started.