The online casino may or may not send out a W2-G, depending on the size of your winnings. Winnings are subject to income tax and must be reported to the IRS by the player. That means that players must produce a valid ID and submit it to security protocols for verification. PayPal casinos operate with the same rules, conditions, and guidelines as brick-and-mortar casinos. It can be as much as 72 hours, though some payouts are within a few hours. Most online casinos have a withdrawal processing time. It’s important to note here that withdrawals for winnings are not instant.
Online casinos that accept PayPal payments to play also pay out winnings via PayPal, simplifying the experience for their guests. PayPal has been in business since 2002, was once partnered with eBay, and currently has more than 400 million account holders. Doing business protects the casino and the guests by eliminating the need to exchange credit card details or bank account information. A PayPal casino is an online casino that accepts PayPal as a payment method.
