What is PayPal?
PayPal is a very popular secure third-party electronic payment system that links to your personal bank account and allows you to send and receive money around the world.
PayPal requires an extra level of security when depositing into online wagering accounts. As such, there are some added restrictions to the eligibility of utilizing PayPal for making deposits:
You must initiate the deposit through the Deposit/Withdrawal page on the website/app. Deposits done directly through PayPal’s website will not go through.
The source of the funds must be a personal checking account with your checking account and routing number. You will not be able to transfer funds to your wagering account using a credit or debit card as the source of the funds.
You can only fund your wagering account with one US-based PayPal account. It must be in your name and cannot be used to fund any other wagering accounts.
How do I make a deposit with PayPal?
Login to your wagering account.
Click Menu, then Deposit.
Select PayPal and click Start.
Enter the amount to be deposited and review the Total Amount (All PayPal transactions are subject to a 4.25% +$0.50 convenience fee, charged by our provider).
Click Pay with PayPal to initiate.
You will be redirected to PayPal's website and you will need to login to PayPal.
Select the method of payment used by PayPal that is linked to your bank account.
Click continue and wait for your deposit confirmation.
What are my PayPal Deposit/Withdrawal limits?
The following deposit/withdrawal limits are set by PayPal and cannot be changed:
A maximum of $4,500 per transaction
A maximum of $4,500 per rolling 24-hour period.
A maximum of $15,000 per rolling 30 days.
You may withdraw a maximum of up to $4,500 per rolling 24-hour period from your wagering account less any pending deposits that have not cleared the banking system, and subject to OTB's policies regarding sending funds back to credit/debit cards when applicable.
Players with questions about additional limits should contact PayPal at (888) 221-1161.
What type of transactions are PayPal deposits and withdrawals?
Our PayPal funding option is PayPal Fund or ACH Only. PayPal will not allow funding for online wagering via credit or debit card.
If a credit card is attached to your PayPal account, you will not be allowed to use it to fund your transaction.
The funds must already be in the PayPal account balance or they can be pulled from a PayPal-verified bank account on file.
All transactions are documented by PayPal as payment for goods and services sold. These transactions are subject to 6050W reporting. For more information please visit https://www.paypal.com/webapps/mpp/irs6050w.
What does ACH mean?
ACH is an acronym that stands for Automatic Clearing House. The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system, governed by the NACHA Operating Rules which provide for the interbank clearing of electronic payments for participating depository financial institutions.
The Federal Reserve and Electronic Payments Network act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH entries.