Comparing PayPal vs Skrill for Online Poker Payments

Choosing the right e-wallet for your online poker account is crucial, as fees can eat into your profits and slow withdrawals can delay access to your funds. To help you choose the best option for your gaming needs, our experts have created a comprehensive comparison of PayPal and Skrill, two of the most popular e-wallet options on the market. We’ll cover the aspects that are most important to online poker players, including fees, acceptance, transaction speed, payment limits, and practical considerations.

PayPal vs Skrill Comparison Table

To get you started, we’ve created a quick overview of the most important factors for each e-wallet:

Feature/Factor	PayPal	Skrill
Transaction Fees	Often 0% for poker deposits/withdrawals; 0-3% for bank withdrawals	Often 0% for poker deposits; 1.75-1.99%for bank withdrawals
Currency Conversion Fees	3-4%	Up to 4.99%
Withdrawal Speed	0-24 Hours	0-24 Hours
Deposit Limits	$5-$10 minimum; up to $10,000+ (verified)	$10 minimum; up to $15,000 (verified/VIP)
Withdrawal Limits	$10+; up to $5,000+ per transaction (verified)	$10+; up to $10,000+ per transaction (VIP)
Poker Site Acceptance	Medium (more offshore/international)	High (e.g., US-regulated sites)
Account Setup Difficulty	Easy	Moderate
Gambling Transaction Restrictions	Some restrictions; varies by region	Fewer restrictions
Cashback/Rewards Programs	Limited	Extensive VIP program
Best For	High-volume players	Casual players

Understanding E-Wallets for Online Poker

E-wallets are one of the most popular payment methods for online poker players due to their speed, convenience, and security. These platforms act as intermediaries between your bank account and poker sites, allowing you to deposit and withdraw without sharing your sensitive banking info.

PayPal and Skrill are two of the most established e-wallet providers in the industry. While both are highly secure, they differ in fees, poker site acceptance, and suitability for different player types, so it’s important to choose the option that suits your playing preferences and your chosen poker platforms.

Fee Structures: Breaking Down the Costs

Fees can significantly impact your profitability, especially for players who make a large number of deposits and withdrawals. It’s important that you understand the fee structure for each platform to create an accurate cost comparison.

PayPal Fee Structure for Poker Transactions

The best poker sites will not charge fees for PayPal deposits or withdrawals, letting you play with 100% of your bankroll. However, this is not the case for all sites, as some will charge a 1-3% fee for PayPal payments, so always check your site’s fee policy before depositing.

PayPal also allows you to withdraw funds from your wallet for free, which means you get to keep 100% of your winnings. That being said, PayPal offers multiple ways to cash out your wallet and not all of them are free, so make sure you choose the correct option when withdrawing.

Skrill Fee Structure for Poker Transactions

Like PayPal, the top online poker sites do not charge a fee for Skrill deposits or withdrawals, but it’s important to check your site’s payment policy before committing to a deposit.

One key area where Skrill differs is in withdrawals from its wallet platform. Skrill charges a 1.75-1.99% fee for withdrawing funds from your Skrill wallet to your bank account, which should be factored into your cost analysis. That being said, Skrill is accepted as a payment option at many online retailers, allowing you to use your poker winnings without withdrawing to your bank account.

Real-World Cost Comparison Scenarios

To help you understand how these fees impact your potential winnings, we’ve created three realistic scenarios based on different player types:

1. Casual Player

Currency Conversion – None
Deposit Fee – None
Withdrawal Fee – 2%

In this scenario, a casual player has $200 in monthly deposits and $300 in monthly withdrawals, giving them $100 in average winnings.

Based on Skrill’s withdrawal fees, Skrill users will pay nearly double the fees of the PayPal user.

2. Regular Grinder

Currency Conversion – None
Deposit Fee – 2% PayPal, 0% Skrill
Withdrawal Fee – 2% PayPal, 0% Skrill

In this example, the poker site charges a fee for PayPal payments, but not for Skrill transactions. Let’s see how this impacts the potential earnings based on average monthly deposits of $1,000 and withdrawals of $1,500:

As you can see, the extra fees for PayPal transactions eat into your profits, leaving with less money than the Skrill user.

3. High Volume Player

Currency Conversion – Yes
Deposit Fee – None
Withdrawal Fee – None

In our final scenario, we look at a player who predominantly plays at overseas casinos, which introduces currency conversion fees into the mix. We’ll calculate the currency fees for both deposits and withdrawals in the same column, based on $5,000 in monthly deposits and $7,000 in withdrawals.

For both wallets, conversion fees have a significant impact on your bankroll, taking nearly 10% of your bankroll.

Withdrawal Speed and Processing Times

One of the primary benefits of e-wallets like PayPal and Skrill is their transaction speeds. Both options offer instant deposits and withdrawals within 24 hours. However, some sites will take longer to process certain payments, so we recommend checking the payment policy of your site before deciding which one to use.

Tip: Complete the verification process as soon as you join your poker site to expedite withdrawals with either service.

Which Sites Take PayPal vs Skrill?

While both options are accepted at the majority of online poker sites, we’ve highlighted the acceptance rate at some of the biggest sites in the world:

PayPal Accepted	Skrill Accepted	Notes
✗	✗	Not accepted at either site.
✓	✓	Both available via MatchPay
✗	✗	Not accepted at either site.
✓	✓	Both available with $10 minimums
✗	✗	Not accepted at either site.
✗	✓	Skrill common for US-facing sites.

Deposit and Withdrawal Limits

Understanding limits is crucial for different player types. Casual players rarely hit maximum limits and are more concerned with accessible minimum limits, while regular grinders and high rollers need to be aware of restrictions that could impact their bankroll management.

PayPal Transaction Limits

On average, PayPal has a minimum transaction limit of $10 and a maximum limit of $5,000. These limits can vary from site to site, with some of the top poker platforms offering maximum limits of $10,000 or more.

When you first create your PayPal account, your transactions are limited to $4,000. To unlock larger payments, you will need to complete the verification process.

Skrill Transaction Limits

In our experience, poker sites have a $20 minimum for Skrill transactions and a $10,000 maximum limit. Like PayPal, Skrill limits unverified users, capping transactions at $1,000 before you complete the verification process. You can also unlock larger transaction limits by progressing through the site’s VIP program.

Rewards Programs

While Skrill offers a rewards club that gives you points when you make online payments, online poker transactions are exempt from the program. This means that you cannot get money back on your online poker deposits.

Setting Up and Using Each Service for Poker

Another benefit of both options is their straightforward onboarding process. Creating an account is easy, and there are no additional steps required to set up either PayPal or Skrill for online poker transactions.

Setting Up a PayPal Account for Poker

To create your PayPal account, follow the steps below:

Go to the PayPal website
Click Sign Up
Select the “Personal” account option, then click Get Started.
Enter your email address, then click Next.
Input your phone number, as well as your name, address, and date of birth.
Check that your details are correct and click Register.
After creating your account, complete the verification process by submitting proof of ID and proof of address documentation.

Setting Up a Skrill Account for Poker

Setting up your Skrill account is just as easy to do:

Go to the Skrill website.
Click the Register button.
Choose your country of residence, currency, and enter any invitational codes you’ve been given, then click Next.
Enter your email address and create a password for your account.
Follow the email verification link to activate your account.
Enter your personal details, such as your home address, and submit any required documentation to verify your account.

Choosing the Best E-Wallet for Your Poker Needs

In summary, both PayPal and Skrill are great payment options for online poker players. The key differences between these payment methods are their fees and acceptance. PayPal is more widely accepted at international poker sites, while Skrill is more often available at US-facing sites.

Before making your decision, we recommend that you evaluate your specific playing volume, preferred poker sites, and geographic location against the comparison data we’ve provided. Check out our in-depth poker site reviews to find the best places to play.

Jordan started writing about poker in late 2020 after discovering he could combine his passion for explaining things with his favorite game. He continues to stay on top of the newest poker theory and the latest goings on in the poker world to deliver top-quality content. While poker is his biggest passion, he also closely follows soccer, snooker, and F1.