Betting Accounts
With more and more cases of winning bettors complaining about having their accounts closed or severely restricted by leading bookmakers, what are the reasons behind this off-the-record practice? Read on to find out what can get your betting account closed and why this will never happen to you at Pinnacle.
- Betting Accounts Online
- Hollywood Betting Account
- Betting Accounts Uk
- Betting Accounts To Follow
- Twin Spires Betting Account
Enjoy online betting at William Hill, the UK's top betting site. Get the best live betting odds and sports action around the clock. Sign up and place your bets now! Sports Vegas Live Casino Casino Games Scratchcards Bingo Poker Macau Promotions. Online Betting from William Hill - The Home of Betting. OffTrackBetting.com offers the best value in Online Horse & Greyhound Wagering. Open an OTB account, wager $300 on horse racing or greyhound races and we'll deposit $100 into your account. Earn Daily OTB Cash Rewards Make cash back - win or lose!
In the past two decades, the spread of the Internet changed the gambling industry landscape for good, making online betting the most popular way for placing wagers.
Immediately upon arriving at @barstoolbets’ Instagram account, you will be.
With an increasing number of sites making historical data and statistics available to the public, more and more well-educated people turned to sports betting not only as a means of entertainment, but also as a means of living.
Main indicators that flag an account and can lead to closure or severe restrictions are: bet size, free bets and bonuses, user behavior and profitability.
Professional bettors have a strong understanding of the mathematics of bookmaking and manage to make long-term profits by applying arbitrage strategies and bet hedging.
Despite claims to the contrary, a common off-the-record practice among mainstream bookmakers in an attempt to exclude winning players from their business, is to close or severely limit winning accounts.
While some bookmakers go as far as cancelling accounts and literally barring profitable bettors from their e-premises, others effectively end their relationship by limiting the stakes to ridiculously small amounts such as $2 per bet.
Criteria for limiting/closing accounts
With more and more bookmakers looking to attract square punters (those who bet more than they win on a daily basis), professional bettors are the anathema to leading sportsbooks. But how do bookmakers know who bets for a living?
Below are the main indicators that flag an account as professional and can lead to closure or severe restrictions of betting amounts:
- Bet size: Professional bettors do not experiment with their money. They often calculate the exact amount of money they need to place on a market in order to ensure winnings. Odd stake amounts such as $79.34, for example, indicate arbitrage, which is a common strategy among professional bettors.
- Free bets & bonuses: Professional bettors are rarely interested in specials offers. They will only take them if they fit into their business plan, which is rarely the case as free bets and bonuses come with a long list of terms & conditions.
- User behavior: Professional bettors don’t bet for fun, they bet for a living. You will rarely find them hanging around the website watching live matches. They login, place their bets and move on to the next bookmaker.
- Profitability: Last but not least, professional bettors take more money out of a bookmaker than they put in.
Surprisingly enough, profitability is not the first factor a bookmaker looks at. In order to know who is profitable in the long run, you have to let time pass and then it might be too late.
Refusing to accept a bet at the advertised odds may break the spirit of fair game, but it does not break any law.
What bookmakers try to do is detect professional bettors before they manage to take money out their pockets. For that reason, they develop guidelines for risk groups and profiles on players based on their behaviors and betting patterns.
This rigid style of investigation can catch out bettors who are not professionals but to eliminate risk, bookmakers take the better-safe-than-sorry approach. This means that in many cases, casual bettors can have their accounts shut down or heavily curtailed for no apparent reason or any further explanation other than:
We are writing to you to inform you that a business decision has been taken by our senior traders and your betting account has now been closed. No further business may be executed on your behalf. As explained in our Terms and Conditions, a trader's decision is final and will not be overturned.
Is closing betting accounts illegal?
Betting Accounts Online
Refusing to accept a bet at the advertised odds may break the spirit of fair game, but it does not break any law.
There are several organisations that are involved in the regulation of the gambling sector, however their primary role is to adjudicate on bets that have been placed, not arbitrary account closures or betting limitations.
Until the industry’s regulations change, so that a bookmaker’s unfounded refusal to accept bets is a reason to lose their licence, it is down to the individual to choose who they entrust their money with.
Why Pinnacle allows winning accounts
Bookmakers must manage their risk to stay in business. For that reason bookmakers set limits on how much money they are willing to accept on each market. However, managing risk is one thing and playing unfair quite another.
Until the industry’s regulations change, so that a bookmaker’s unfounded refusal to accept bets is a reason to lose their licence, it is down to the individual to choose a reliable bookmaker.
At Pinnacle, we don't just believe that it is important to treat bettors fairly. We are on a mission to educate players on how bookmaking works, so that they can choose smart when deciding what is the best sports betting deal online.
As opposed to the practices of mainstream bookmakers, Pinnacle is known for offering zero bonuses. Instead of throwing our money into expensive marketing campaigns, we invest it in risk management.
Our unique model not only allows us to guarantee you an account no matter how much you win, but it also enables us to offer the highest odds in the online betting industry. When mainstream bookmakers offer rounded odds of 2.00, 3.40 or 1.70, don't be surprised to see Pinnacle offering odds as precise as 2.23, 3.826 or 1.92. To find out more about how Pinnacle can do that, read The maths behind Pinnacle’s winners welcome policy.
But don't take our word for it. We encourage you to compare us to other bookmakers, before you decide for yourself which sportsbook offers the best deal. That’s why Pinnacle is the number one choice of winning bettors.
PayPal is one of the most popular ways to deposit and withdraw at online betting sites. The easiest way to deposit to a bookmaker, casino or poker room by PayPal is through an existing balance. This can be received through a transfer from a friend or a sale over the internet at an auction site such as eBay.
There are several other ways to fund a PayPal account. An instant electronic check may be drawn directly from a bank account. Large transfers are available through bank wires. European bettors may also use a credit or debit card, including the PayPal Extras Mastercard. Players in the US may not use a credit or debit card to fund an account at a regulated poker or casino site.
Paypal betting sites & sports betting apps
If you’re in New Jersey, Pennsylvania, Indiana or West Virginia and you want to use PayPal to bet on sports, you’re in luck. A number of online sports betting apps and sites use PayPal
PayPal betting FAQ
Can I use PayPal on betting sites?
It depends on where you are. PayPal only allows deposits to sites that are fully licensed in their resident jurisdictions.
So, residents and visitors to Nevada and New Jersey can use PayPal because those states allow PayPal as an option. Similarly, countries outside the US can elect to allow PayPal as a payment method for their online gaming sites.
However, in unlicensed areas, such as most of the states in the US, PayPal cannot be used on betting sites.
Can you buy Bitcoin with PayPal?
No. PayPal does not allow users to purchase Bitcoin or other cryptocurrencies at this time.
Are there fees associated with using PayPal at online betting sites?
Online betting sites do not charge a fee to deposit with PayPal. PayPal charges 2.9% to deposit using a credit card or debit card. There is no fee to use an existing PayPal balance or an electronic funds transfer from a bank account.
Can you deposit using PayPal if you don’t have a PayPal account?
Players must create an account with PayPal to use it as a deposit method. It is a quick and simple process that only takes a few minutes.
Can you use a family member or friends account to deposit via PayPal?
No. A PayPal account used to deposit at a betting site must belong to the account holder.
Why don’t I see PayPal as a withdrawal method?
PayPal will appear as a withdrawal option once a successful deposit using the method is made.
How do I withdraw from PayPal?
PayPal withdrawal options include electronic check and check by mail. PayPal has a debit card that may be used at any retailer that accepts credit cards. It can also be used to withdraw cash from an ATM.
Are there any online casinos that accept PayPal?
Yes. Within in the US, some online casinos in Nevada and New Jersey accept PayPal.
Outside the US, several countries accept PayPal as a deposit and withdrawal method. Please check each casino website’s frequently asked questions for more specific details about banking methods at that site.
Is PayPal a safe way to deposit at betting sites?
Yes. PayPal is just as safe as using any other ewallet. It is safer than using a bank account directly as it provides an additional layer of security between the betting site and the player’s financial information.
What are the advantages and disadvantages of using PayPal?
PayPal offers instant deposits. Credit cards, debit cards, and electronic bank transfers are among the deposit options. Players can also use PayPal for traditional purchases and eBay sales, making it more useful than some of its competitors. PayPal balances can also be created by receiving a transfer from a friend or business. The main disadvantage of PayPal is that there are deposit fees associated with credit card deposits. Withdrawals can be slower than other ewallets.
What countries are allowed to use PayPal?
PayPal is available for betting sites in Austria, Australia, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Portugal, Spain, Sweden, and the UK. Nevada and New Jersey players may use PayPal for online gaming deposits in the US. PayPal is also a deposit method for horse racing sites in the United States.
Why can’t US players deposit at a betting site using PayPal?
PayPal only permits gambling transactions in jurisdictions where it is licensed. That is why it is available in Europe. Countries license online betting sites. Nevada and New Jersey online gambling sites are also permitted to use PayPal as a payment option. The online sports betting sites available to players outside of Nevada are not licensed. They are located offshore. PayPal refuses to do business with those sites.
Didn’t PayPal once process payments for offshore sites?
Yes. PayPal was once the main ewallet for offshore gaming sites that accepted US players. This included poker, casino, and sports betting. The company processed these payments from 2000 until November 2002. PayPal paid a $10 million fine to the US government for these transactions in a civil action.
Why do DraftKings and FanDuel accept PayPal?
DraftKings and FanDuel are daily fantasy sports sites. These businesses are considered to be skill gaming under most state laws. PayPal’s legal opinion is that processing payments for FanDuel and DraftKings are legal in all jurisdictions that it operates.
Can you use PayPal on bet365?
Hollywood Betting Account
Yes. Many countries that host bet365 allow players to make deposits and withdrawals with PayPal
Can you use PayPal on 888?
Yes. When you are about to deposit you will be directed to a PayPal login page. Simply enter your email and PayPal password to access your account.
Does betway accept PayPal?
Yes. betway does permit PayPal as one of its banking methods. However, it may be necessary to open a PayPal account specific to the country in which one’s betway account resides.
History of PayPal in online betting
PayPal was the first major ewallet on the Internet. It allowed individuals the ability to send money to a company or another person. It became the most popular way to purchase an item on Ebay. It was also the top choice for online gambling sites that accepted Americans, although it was a trivial amount of PayPal’s total business.
Online gambling transactions accounted for about eight percent of PayPal’s entire processing business in 2002. PayPal had little business outside North America at the time. That has changed drastically and PayPal is now an international company that processes payments in over 100 countries.
eBay acquired PayPal in 2002. The company has since split and became two different companies in 2015.
eBay purchases PayPal
PayPal stopped processing online gambling payments almost immediately after the 2002 merger. This left the US online gaming market with a massive void. Firepay and Neteller quickly came to the rescue. Both of these companies ran into legal trouble in 2006 and 2007, respectively.
The combined company became the target of a federal investigation into its online gambling payment processing in 2002, even though PayPal was an independent company when the alleged transactions took place. The company agreed to pay a $10 million civil settlement to dispose of the case in US Court in the Eastern District of Missouri. The amount was estimated to equal the amount of profit PayPal made during the two years it processed online gambling payments.
PayPal returns to online betting
PayPal stayed out of the online betting business until 2009. That is when the company decided to start processing payments again for the online gaming industry. The difference is this time around, the sites PayPal did business within the sector were fully legal and licensed in the jurisdictions where PayPal processed payments. This generally meant that the United Kingdom was the only country where PayPal was available as a deposit and withdrawal option.
Betfair was the first online betting site to use PayPal in Europe. Maybe not coincidentally, Betfair never accepted US players for any of its offerings, even before the Unlawful Internet Gambling Enforcement Act went into effect in 2006. Before that time, virtually every online gambling site accepted US players.
Betfair is known as a betting exchange. It differs from a typical betting shop as it allows players to set buy and sell prices similar to a commodities or stock market. Betfair takes a percentage of the win. This gave PayPal a unique entry into a complicated industry.
It was not long before other UK sportsbooks got approved by PayPal to use it for payment processing. Bet365, Ladbrokes and William Hill were among the companies selected to expand PayPal’s European online gaming business. Other online gaming companies that accept PayPal include 888, bwin, PartyPoker and Paddy Power. PayPal continued to only permit its use for online gaming purposes in countries where the activity is specifically legal and licensed.
Bet365, Ladbrokes and William Hill are among the strongest online gaming brands in the world. Each specializes in sports betting with online poker rooms and casinos falling secondary to the main business. All three started out as live betting shops throughout the UK. Each started to move its business to the Internet in the mid-2000’s during the online gaming boom. Bet365 sold its bricks-and-mortar betting shops in 2005. Ladbrokes and William Hill continue to operate them, lending even more credibility to the online business.
Betting Accounts Uk
PayPal continued to operate its eBay and person-to-person business in the US. This included payment processing for traditional online businesses. It also permitted some uses within the skill gaming sector. This includes Worldwinner, a skill-based site owned by GSN. Worldwinner also processed payments to less traditional skill gaming sites that include Gamesgrid’s backgammon games and duplicate card games like spades, bridge and poker. Duplicate cards deal all players the same cards and score based on the difference in points between the participants.
PayPal enters daily fantasy payment processing
Betting Accounts To Follow
The next big move in the US for PayPal was daily fantasy sports. The contests are believed to fall under skill game laws in as many as 45 states, although there is some debate about the exact number where it is legal. Nonetheless, PayPal processes deposits and withdrawals for all sites in all states where daily fantasy companies operate.
New Jersey, the next step for PayPal
The next step for PayPal in the online gambling industry came in 2015. That is when PayPal and Caesars Interactive Entertainment started processing online poker and casino payments for WSOP.com and Nevada and New Jersey, as well as 888, Harrah’s Casino and Caesars Casino.
Twin Spires Betting Account
PayPal continues to be the largest ewallet in the world. Its movement back into the online betting industry helped it compete with Neteller and Skrill in Europe. Becoming a processor for big names like Betfair, Bet365, Ladbrokes and William Hill helped give it brand awareness in other countries where it may not otherwise have received the attention from players.