Everyone knows that Dota 2 has been one of the biggest and probably the most bet on eSports title nowadays. It has already dethroned other titles such as CS:GO and even the cartoony MOBA cousin, League of Legends.
Now, if you are a betting man just like I am, placing your bets with PayPal on Dota 2 tournaments can be very lucrative. If you know how and when to place your bets, you would be pulling in a lot of cash or revenue back on your way. With that said, looking for an online bookie that caters to the game is very easy to do since almost every bookie out there carries eSports games nowadays.
After you have found that bookie, you place your bets. Back then, the only possible way you can add credits to your account would be using either a credit card or doing a bank transfer. However, technology has come a long way. Nowadays, they even accept cryptocurrency.
Some other bookies accept skins as currency, and almost all of the betting places now accept wallet accounts such as Skrill, Qiwi, Yandex and recently Paypal. Now, why Paypal? And why is it only used now? Is it right for you? If you want to find out information about this, stay a while and listen as I will be discussing Paypal for Dota 2 betting and help you determine if it is the right way for you to place your bets.
What is Paypal?
This is a very big company. They were really the first company to offer electronic funding and transaction security. They started way back in the early 2000’s, when eBay was a very booming business. It became the first choice for people who were doing a lot of online shopping back in the day due to the security features that they offer.
It was a way for you to be able to hide your credit card information to protect yourself from fraud. Aside from that, you would be eligible for rebates, bonuses, and even free shipping when you use it before. Ebay actually was recommending Paypal as the premier method of payment.
It was only later on down the line that they started the wallet service. This was a way for you to be able to add credits on your Paypal account even without linking either your bank account or credit card. This option was well loved by the more security conscious people as they do not need to divulge information such as account details.
All you need to do is just to purchase credits using your credit card once, or even buying a Money Pak which can be found on a lot of Walmart stores. The wallet option they offered was great, secure and fast.
Pros of using Paypal for Dota 2 betting
Now, since it has recently become a method of payment for a lot of the major bookies and eSports sites, you are asking if it is right for you. But before we answer that question, I would like to tell you the good things that come with using this method of payment, and then after that, you can decide if it is viable for you or not.
First, security. This is the most important thing that Paypal offers. Actually, this was the premise that the whole company was built upon. To be able to secure yourself from online transactions. I have used Paypal even to this day whenever I do my online shopping for guitar gear and other stuff. And I have never become a victim of credit card fraud since I have been using this method of payment whenever I buy something from Amazon or from eBay.
Second, reliability. This is another good thing about this method of payment. Often times, if you are using a credit or debit card and try to make a purchase or pay for something, if your card does not have enough money, the transaction still goes through and sometime down the line, you discover that you either get charged for an overdraft fee or your order gets cancelled for insufficient funds.
However, when you use Paypal, this will never happen as their system will automatically reject your transaction if your card or account does not have enough funds for the transaction. This will save you the hassle or the hefty fees in the future.
Third, customer service. As a company, they have one of the best customer service out there. They actually fight and protect their customers. For example, your account was compromised and someone tried to order a lot of stuff.
As long as you can prove that you were not the one who made those purchases, everything will get refunded to you. They will even talk to your bank and fight for the case to get the charges on your card refunded. They also have one of the most professional customer service representatives out there too.
Cons of using Paypal when betting
Of course, if there are good things about something, there will always be drawbacks. After all, nothing is perfect. Now, I will be listing the cons of using this method of payment.
Transaction speed. This is a big drawback for people who like to bet and would like to get their money deposited right away. The transaction speed can vary between 30 minutes to sometimes even reaching a couple of hours to a full day.
That is on outgoing transactions. If we are talking about the refunding process, however, this can take weeks, and even sometimes months, depending on the amount being refunded and also if the transaction is being investigated.
Accessibility. Not a lot of bookies accept it as a valid method for depositing funds in your account. This is not the case however for other wallets which are more widely accepted. This is due to the fact that Paypal themselves has strict rules and regulations regarding the use of their accounts.
If you are using your account in a site that they deem that is unsafe, or if the account is used for gambling, there is a very big chance that your account gets suspended or even deactivated.
Is it right for you?
Now, with all of those pros and cons that were discussed, in my honest opinion, I would not use it as a method for betting. First things first, only a few of the bookies accept it as a method of payment. You are lucky if your bookie is already accepting it, otherwise, you’re out of luck.
Second, the transactions speeds for refunds take a really long time. I do not want to wait a month to get my money back. After all, we are talking about a gambling bankroll, which you might or might not want to roll back again the next tournament or next month and try to get a profit.
The last reason and probably the deal breaker for me would be the restrictions that it has. Sooner or later, they will catch on that your account is being used for gambling. That poses as a significant risk for a closure of your account as you would be violating their Terms of Service.
From there, you would lose the cash that you have accumulated, and if ever your card or a bank details has been linked to that prior to closure, you would not be able to use those same details again on a different account.
If you are concerned about security, however, the next best thing I can recommend is using either cryptocurrencies or direct bank transfers, or any other wallet services that are prepaid such as Skrill or Qiwi. Or better yet, just use whatever else is using, the good old credit card. Just be careful of not saving details of it for security sake.