Depositing and withdrawing money from sportsbooks using PayPal is easier and more convenient than with any other payment method. 

If you reside in New Jersey, you have a wide range of legal sportsbooks offering PayPal as a banking option to choose from. Whether you want to bet on regular or daily fantasy sports, PayPal is a great banking option.

Find out the pros and cons of using PayPal at sports betting sites, as well as which sportsbooks offer you this facility.

New Jersey Sportsbooks That Accept PayPal

The below table shows which legal sportsbooks in New Jersey currently accept PayPal as a payment option.

Betting Site Bonus Rating Bet Now
DraftKings UP TO $500 FREE BET* 9.1/10
888Sport $500 9.3/10
BetStars $50 9.2/10  

*21+ | Eligibility restrictions apply | See website for details | NJ only | If you or someone you know has a gambling problem, call 1-800-GAMBLER

Table of Contents

What Are the Processing Fees When Using PayPal at Sports Betting Sites?

Sports betting sites that offer PayPal will not charge you any processing fees for using the payment method and the facility itself is free. 

However, you will have to pay fees to PayPal when depositing via a debit or credit card. This fee is currently 2.9% of the amount deposited.

If you only use an existing PayPal balance to deposit or fund your PayPal account via bank transfer, no processing fees will be charged.

Screenshot of the PayPal website, a method you can use at online sportsbooks

What Are the Benefits of Using PayPal at Online Gambling Sites?

PayPal provides gamblers with a deposit and withdrawal method that is:

  • Secure
  • Private
  • Fast

The main benefit of depositing with PayPal is not having to disclose your credit card or bank account information, which gives users peace of mind.

Moreover, despite online sports betting being legal in states like New Jersey, some major US banks like BofA, Capital One, Wells Fargo, and TD Bank still refuse to carry out transactions to gambling sites. Using PayPal can help you bypass that hurdle, especially if your bank has a no gambling transaction policy.

Being an e-wallet, PayPal also allows you incredible speed when depositing funds into your betting account.

All these benefits together contribute to PayPal being the payment method of choice for online gamblers.

What Are the Disadvantages of Using PayPal at Online Sportsbooks?

The only disadvantage of using PayPal lies in the processing fees associated with depositing with a credit card.

Can I Withdraw My Gambling Winnings with PayPal?

Yes. You can use PayPal as a withdrawal method provided that you have already made a successful deposit with the same PayPal account.

What Is the Processing Time for Deposits with PayPal?

PayPal deposits at sports betting sites are instantaneous. This is one of the advantages of choosing PayPal as your banking option.

What Is the Processing Time for PayPal Withdrawals?

As with all payment methods, PayPal withdrawals will take a couple of days to get processed by most sportsbooks. The reason for this is the additional checks and verifications that need to be performed on the transactions.

Can I Use PayPal at Offshore Gambling Sites?

No. PayPal can only be used in jurisdictions, such as New Jersey, where gambling is regulated.

Moreover, you can only use PayPal to deposit and withdraw from licensed sports betting sites.

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