PayPal Betting Sites PayPal is one of the most popular ways to deposit and withdraw at online betting sites. The easiest way to deposit to a bookmaker, casino or . PayPal Sports Betting Sites. PayPal is one of the world’s most popular online payment processors, allowing users to transfer money to each other, make purchases at millions of websites, and serving as an e-wallet where money can be stored. PayPal was the original online payment service, and is still used by millions of people around the world. They can be used to deposit and withdraw from online betting sites in many regulated markets. At the moment, laws restricting financial transactions to betting sites from the US mean that this can’t be used by Americans for gambling transactions.