Overview Of Online Casino Payment Methods
Playing online casino games has never been more exciting. With the inclusion of different gambling options and opportunity to play games from different locations, your experience has become attractive. Along with introduction of new games, payment providers are ready to offer new casino payment methods.
Payment Methods Sorts
If you are about to start a gambling experience at the site of your selection, you should be familiar with the accepted deposit options and all accompanying requirements. That’s why we have created this guideline to bring closer the best online casino payment methods and provide more details for your future experience
Debit And Credit Cards
Credit and debit cards are most used options at online casinos around the globe. They are simple and safe to use and most players are already familiar with them. The most popular casino payment methods are Visa, Mastercard and American Express. The most known variations are– debit, credit and prepaid option.
Credit cards are used among customers who don’t have enough funds on their bank account. However, you should always pay attention on the limit set by your bank. After you’ve spent approved amount from your credit card, you need to return it at the certain moment.
Debit cards are used among gamblers that have sufficient funds on their bank accounts. By using debit cards, they can control the spent amount and receive a notification after every transaction to online casino.
As for prepaid card, this one can be purchased at bank or local stores. It is usually equal to certain sum: £50, £100 or similar. It is also possible to purchase several prepaid cards and utilize them at various online casinos.
Benefits And Drawbacks of Debit and Credit Cards
Before using Visa and Mastercard as the best casino payment methods, you need to learn more about their benefits and drawbacks.
- You are not required to open any accounts
- You can take advantage of safe payments
- There is no commission for Visa or Mastercard money transfers
- They are not fully anonymous
- They are not accepted at all casinos and you can see some of them charging fees for using cards
- You may have some issues with withdrawals
E-wallets represent another popular payment option in the gambling world. As part of this option, you will only need to create your account and have all information stored on them. It is possible to link more cards to your e-wallet and use cards that you like. As for the selection of digital wallets, you can expect to find the following methods:
- PayPal: It is widely-known option that has already obtained a significant customer base all around the world. It us used across the European and American continent. It is known for secure transfer and 24/7 customer support, which enables PayPal to remain popular.
- Neteller: This is an e-wallet option that has become popular and reliable in over 200 locations worldwide. It ensures swift, anonymous and safe deposits to different casinos along with the fast withdrawals.
- Skrill: This is another digital wallet owned by Paysafe Group. To start playing at online casino, you need to open a Skrill account. You can complete the registration free of payment, and having money doesn’t cost anything. Make sure to have active account to avoid fees.
Pluses And Minuses of E Wallets
Like any other deposit method, electronic wallets have certain benefits and drawbacks and you can see them below.
- E-wallet transactions stand out with high security and leading businesses use them on a regular basis
- Your card details are not shared with anyone expect the e-wallet provider
- You can easily activate your account in only few minutes
- Most online casinos accept e-wallets for both deposits and cashouts
- It is possible to deposit or cash out between card and e-wallets without major complications
- Sometimes, you will have to cover significant fees before making a withdrawal of converting certain currency
- Some digital wallets prohibit players from withdrawing winnings from specified locations or the US states
- Players need to keep their account active to avoid any additional fees
Bank transfer is another popular payment method, allowing gamblers to manage their money in a safe mode. They are also known as wire transfers and allow gamblers to move funds from the bank account to the casino balance by sharing details of the account. Each transaction is protected and easy, so you don’t need to worry about your experience.
Depositing money into casino balance via bank transfer requires you to be familiar with the details of your bank account and decide what amount you want to transfer. This can be completed directly on the website of the casino. Those who play on mobile phones can use smartphone to process the payment. Wire transfers are processed immediately between banks and related accounts. Banks possess the strong encryption system to keep money safe.
The same works for mobile banking, and all transactions are encrypted by the identical protocols. They are also followed by verification process in two or three steps.
Pluses And Minuses of Bank Transfers
When it comes to benefits and drawbacks of Bank transfer, you can see them below:
- Fees on transactions are very low
- You don’t need to open special accounts
- Users can enjoy the highest security level
- This is accepted by most casinos all over the globe
- The method is simple to use
- Many banks from the USA don’t accept transactions to online casinos
- This method is not the swiftest method in the market
- Some users are not ready to use bank account for gambling purposes
- You need to have a bank account in order to make any transaction
Other Online Casino Payment Methods
Apart from credit and debit cards, e-wallets and bank transfer, players can use many other deposit methods at popular online casinos. Here are some well-known options for making smooth transactions:
- Paysafecard: This is a well-known prepaid card for customers in the United Kingdom and Europe. It comes with high security and it is broadly accepted. It is not accepted in the USA. Players who want to use it should buy a prepaid card at retail locations and enjoy the option.
- EcoPayz: The method was introduced in 1999. It works similarly to eWallet services and comes with ecoAccount feature allowing users to complete transfers from the endpoint. The provider also offers ecoCard which works in the same way as Paysafecard.
- Cryptocurrencies: This is one of the newest methods at online casinos for making secure and fast transfers. The method has increased in popularity over the previous years and now you can find casinos accepting Bitcoin, Litecoin, Dogecoin, Monero, Ethereum, Dash and many more. If using crypto, you can take advantage of the highest possible security, anonymity and fast online transactions.
- Boku: This is a popular mobile banking method, allowing users to fund casino account directly from the phone. Everything happens within minutes, so you don’t have to think about waiting time.
- Trustly: This is an instant bank transfer, especially popular in the European continent. It works like middleman and transfers money immediately from your bank account to your selected casino without involving any significant payment details.
Fees And Available Limits
When making deposits and withdrawals, players should always check available limits and fees on gambling transactions. This works especially for payouts as some casinos tend to charge a certain fee on your transfer. Whether you will pay fee or not depends on the casino you choose. If you come across a fee, that will be a small one so you don’t have to worry about high costs.
It is also important to know the limits when it comes to both deposits and withdrawals. Newcomers would appreciate to make small deposits in the beginning and gradually increase the payments as they learn more about the gameplay.
If you want to want know more about single payment methods and their limits, have a look at this table:
|Method||Deposit Time||Withdrawal Time||Minimum Transaction||Maximum Transaction|
|Visa/Mastercard||Instant||1-3 days||£10||Set by provider|
|Bank transfer||Instant||Up to 5 days||£10||Set by provider|
Best Casino Payment Methods Tricks and Tips
Before making first transactions, you can visit the Wagering Advisors or check the following tips and tricks:
- Always check the list of available payment methods before choosing one of the casinos to play with. Keep in mind that casinos differ when it comes to accepted methods.
- Be familiar with the withdrawal times as they differ depending on the selected brand. The most recommended are platforms which process payouts within 24 hours.
- Make sure that your preferred method is accepted in your country. This is especially important for PayPal which is only accepted in limited number of countries such as Austria, Finland, Germany and the UK, among others. You should also know is this possible to deposit and withdraw via the same method
While playing popular titles at the site of your choice, you should be safe and secure. That’s why you need to check whether the site has an official license before signing up and accessing favorite games. The most famous are licenses from the UK Gambling Commission, the Malta Gaming Authority or similar regulators. You should also check the level of security and whether the site has an SSL encryption which keeps your information protected from third parties.
It is also important to apply certain tips when using your cashier:
- Utilize a strong password when signing up at the casino for the first time. It should include combination of letters and words. You can keep it in the password manager and always remember it
- Don’t share your personal details with anyone as you risk your money and identity
- Enable two factor authentication as this will keep you protected in case of undesired attacks
- Keep using safe payment methods which come with fraud protection tool and keep the security on the maximum possible level
Verification of the Account
Before making any transactions to the gambling site, you should also complete the verification process. That’s why you need to submit an ID to the provider so they can check your identity and ensure that you are the real person. The same works for withdrawals as casinos won’t allow the payout if you don’t fulfill verification requirements.
It is also important to check the verification time for every single provider as it differs. You should stick to the sites which finish the verification within 24 hours, allowing you to enjoy winnings as soon as possible.
Casinos With Best Payment Options
- Can I make a payment with one option and withdraw with another?
- This depends on the site you choose to play with. Some providers will strictly emphasize that you have to use the same method for both deposits and withdrawals. However, there are also more flexible operators that accept combinations.
- What is the most secure payment method for casino?
- Players who look for added security when making online deposits should stick to credit cards and Echecks. Both options are perfect choice for players who prefer protection and added verification.
- Are there limits on payment and withdrawal sums?
- Most casinos set limits when it comes to the minimum deposit and withdrawal amounts. However, this limit is different depending on the site you choose to play with. We recommend sticking to the minimum deposit casinos if you are a new player and then slowly making higher deposits.
- What is the swiftest way to cash out my earnings?
- If you are looking for the fastest cashouts, you should stick to e-wallets. They are optimized for instant withdrawals, so you can choose from various options such as Neteller, Skrill and PayPal. At the same time, you will enjoy the maximum-security level.
- Do I need to own a credit card to start playing at online casinos?
- Players are not required to own a credit card in order to access popular games. This is because the industry has invented many alternative methods for gamblers such as debit cards, prepaid cards such as Paysafe and e-wallets.
- Why are not all deposit methods available in my location?
- Different countries have diverse gambling laws which may affect your experience when playing online. This means that some payment methods may not be available in your country. Make sure to check the list of accepted methods before you sign up at the casino.
- Can I utilize crypto for online casinos in UK?
- At the moment, you won’t be able to find UKGC-licensed gambling site that accept crypto transactions. This is in line with the anti-money laundering rules set by UK Gambling Commission.