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Venmo to Offer Instant Cash-out for Players of Online Casinos that Accept PayPal Deposits


PayPal and its online payment service Venmo will release a new function to allow players of online casinos that accept PayPal deposits to cash-out their winnings through their debit cards instantly.

Image Source: Engadget

Players of online casinos that accept PayPal deposits will be able transfer their online gaming winnings to their debit cards instantly soon. According to the latest online gambling news, Paypal and its online payment application Venmo will enable the players of online casinos that accept PayPal deposits to transfer their gaming winnings to their debit cards in a matter of minutes.

PayPal will render this service available to all its users after the beta tests are done. PayPal will charge $0.25 per transfer and every user with a MasterCard or Visa debit card will be able to transfer their PayPal balances to their bank accounts swiftly, as reported by TechCrunch.

This radical move is considered as a shift in the competition of online money transfer. PayPal had constituted a fierce rival for Visa and MasterCard since its genesis. However, with this new partnership deal both banks and PayPal will be able to enlarge their customer portfolio. PayPal’s strongest advantage is that it enables users to transfer money between each in a quick and easy way. Now, the transferred amount through online payment system will be able to be credited to an actual bank account easily and inexpensively. It is a win – win situation for PayPal, banks, and also customers.

New Move is Expected to Increase Interest in Online Casinos that Accept PayPal Deposits

PayPal’s new feature will definitely increase interest in the online casinos that accept PayPal deposits and withdrawals. It is already quite easy for players to transfer their winnings to their PayPal accounts with minimal fees. When the beta tests are over, transferring winnings from PayPal to bank accounts will also be quick and easy.

The new PayPal money transfer feature will make the lives of the high-rollers much easier as one transection will cost only $0.25. Currently, many online payment systems charge percentage from the transferred amount. For example, popular online money transfer system Square Cash charges a 1 percent fee for instant transfers. This might cause serious money loss while transferring big amounts.

Let’s have a look at the top online casinos that PayPal deposits to find out the most suitable online gambling destination for PayPal users! If you are an online casino fan and a PayPal user at the same time, Spin Palace Casino might be a suitable destination for you. New players of Spin Palace Casino (Read Spin Palace Casino Review) receive €1,000 bonus money in first three deposits. All of their games are featured by the online gaming giant Microgaming.

If you rather prefer playing at an online poker site that accepts PayPay deposits then your dream place is PartyPoker. Besides supporting PayPal deposits and withdrawals, PartyPoker makes new players happy with $20 No Deposit Bonus. Read our detailed ParyPoker Review to learn more about the popular online poker site!

We haven’t forgot the fans of online bingo. The most popular online bingo site that accepts PayPal deposits and withdrawals is Mecca Bingo. Popular UK bingo site offers £15 free bingo bonus for new players. You can use many other payment methods along with PayPal to enjoy online bingo at Mecca Bingo. Read our in-depth Mecca Bingo Review and Analysis to learn more!

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About the author

Keremcan is a devoted philologist by profession. He is a passionate supporter of his local football and basketball teams. Since he loves conducting extensive researches in eclectic fields, he has taken up the role of the head of the research team of Gambling Herald.

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