Using PayPal to abuse credit card

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  • boo_star
    boo_star Posts: 3,202 Forumite
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    I'm surprised PayPal are even offering the facility to a bookmaker. I could have sworn they didn't allow it a few years back.
  • Curls2208
    Curls2208 Posts: 200 Forumite
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    PayPal do pretty much everything now. The times are changing.
  • boo_star
    boo_star Posts: 3,202 Forumite
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    Curls2208 wrote: »
    PayPal do pretty much everything now. The times are changing.

    Yeah but they're yanks, who (perhaps for good reason) have an aversion to gambling transactions based on their State Department rules?


    https://www.paypal.com/us/smarthelp/article/What-gambling-activities-does-PayPal-prohibit-FAQ915

    I guess times have changed ;)
  • Fingerbobs
    Fingerbobs Posts: 1,640 Forumite
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    edited 13 October 2019 at 10:15AM
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    boo_star wrote: »
    I'm surprised PayPal are even offering the facility to a bookmaker. I could have sworn they didn't allow it a few years back.
    I deposited into my Betfair account using PayPal 8 years ago (5th Feb 2011 to be precise), so it's been possible for a while.
  • phillw
    phillw Posts: 5,594 Forumite
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    edited 13 October 2019 at 10:21AM
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    crumpetman wrote: »
    If you want to go down that route with paypal and credit cards then find a friend to send money to via paypal, use your credit card as the funding source and the friend can withdraw the cash and give it back or transfer it to you via some other means.

    Has paypal stopped charging their fee (~3%?) if you send friends and family via credit card?
    Zero_Sum wrote: »
    Can you have 2 paypal accounts & just send money to yourself?

    Sort of https://www.paypal.com/va/smarthelp/article/can-i-have-multiple-paypal-accounts-faq762
    You'll probably get your accounts suspended for AML
  • boo_star
    boo_star Posts: 3,202 Forumite
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    Fingerbobs wrote: »
    I deposited into my Betfair account using PayPal 8 years ago (5th Feb 2011 to be precise), so it's been possible for a while.

    Yeah, I vaguely remember it being possible but also vaguely remember them NOT being OK with it more recently than that?

    Eh, whatever.
  • Sad_Dad
    Sad_Dad Posts: 878 Forumite
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    Most of the big bookies allow deposits and withdrawals with Paypal.

    I've just tested one of mine by doing a £50 deposit and immediate withdrawal. My Paypal account has a credit card as it's default payment. The deposit will be charged to my credit card and the withdrawal will go into my Paypal account and then I can transfer that into my bank account. I suspect as mentioned above if you did this too often the bookie wouldn't like it.

    You could always, deposit, place a few bets at the bookie and lay them off on a betting exchange for potential profit depending on the odds. (Warning, you need to know what you are doing as mistakes can be costly). This way you will have spent your deposit so you have not broken the T&Cs.
  • SnowTiger
    SnowTiger Posts: 4,459 Forumite
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    Zero_Sum wrote: »
    Can you have 2 paypal accounts & just send money to yourself?

    Officially you're allowed to have two PayPal accounts. One for personal use and one for business use.

    https://www.paypal.com/va/smarthelp/article/can-i-have-multiple-paypal-accounts-faq762:
    Can I have multiple PayPal accounts?

    Yes. You can have one Personal account and one Business account. You can add more email addresses, debit or credit cards, and bank accounts to your account, but each account must have its own email address and financial information. You can also upgrade your Personal account to a Premier or Business account.
  • onwards&upwards
    onwards&upwards Posts: 3,423 Forumite
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    Back in my heavy gambling days I got one of my online casino accounts temporarily frozen for this, as well as for depositing from one card, then changing my default payment method then withdrawing. I had to grovel and promise to be good to get my access back.

    I was only doing it because my finances were really tight due to the gambling and I was juggling pennies to tread water and avoid any bad markers on my credit file.

    Hopefully you wanting to do this doesn’t mean you’re in the hot mess I was at the time.
  • The_Urbanite
    The_Urbanite Posts: 359 Forumite
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    Bear in mind that if you make a Paypal deposit into a bookies and the funds are pulled from a credit card, you may be charged a cash transaction fee and interested. This happened when I tried it so I never bothered again.
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