Safe casino payment methods are crucial when playing at a casino. For many regular gamblers, the transition from using a physical casino to an online platform can be challenging as you should find the right payment method and a casino that supports it. It’s understandable that the multitude of payment options available can make the process confusing. So, to help you choose the right deposit method, we’ve reviewed the best casino payment options below.
Before you can start betting on any online betting platform, you will always need a reliable deposit method to ensure you can quickly and safely fund your account with a sufficient balance. However, there are still a lot of things you need to know regarding choosing a reliable payment provider. You will find out soon.
While online casinos support several payment methods, some allow deposits only, and you can only withdraw your winnings with others. Hence, you should choose a payment method you are familiar with and comfortable using. Most online casinos offer more than one payment method. This is because each method has its fair share of pros and cons. So, the feature you are looking for should influence your decision to choose a suitable payment option. Some online casinos offer some payment methods only for deposits and some for withdrawal. Hence, deposit and withdrawal options can sometimes be tricky to navigate. However, to help you choose the payment method that matches your needs, we have created a comprehensive guide on the best payment methods for online gambling.
Credit and debit cards are one of the leading payment methods amongst online casinos. Many punters prefer to use these options because of the accessibility and ease of use. Anyone who has a bank or credit union account can get a credit or debit card and use it anywhere. Credit and debit cards have a high acceptance rate amongst online casinos. The majority of the online casinos and sportsbooks generally accept MasterCard, Visa, American Express, and/or Maestro. If you are going to gamble online, you should have a credit or debit card as your go-to payment method unless you have a strong reason not to. The main disadvantage of getting a credit or debit card for online gambling is the growing number of banks that do not accept online gambling payments. Each bank has its own internal policy that governs online gambling transactions. However, this practice is solely under the discretion of the issuing bank. Also, it is worth stating that the amount you can deposit at once using a credit or debit card varies from one casino to another. The minimum deposit often ranges between $5 and $50, while the maximum is between a couple of hundred dollars to several thousand dollars at once or over multiple deposits.
Another common type of payment method on the rise is E-Wallets. They are poised to take over the online casino payment methods space because of the seamless withdrawal and deposit options they offer. While the advantages of using E-Wallets are numerous, one of its key downsides is that they charge transaction fees. However, these fees are generally minimal compared to others and are influenced by loyalty programs the E-Wallets providers offer. Typically, E-Wallets take less than 24 hours to authenticate a transaction. Currently, PayPal is ranked as one of the most popular E-Wallets worldwide, with over 200 million active users in Europe and North America alone. Other popular E-Wallets you’d often encounter at online casinos include:
Trustly is a very popular e-wallet that allows punters to make payments directly from their bank accounts. Although merchants will pay transaction fees, the service of Trustly is free for casino players. Unlike other e-wallets, you do not have to be a registered user to use Trustly. In addition, Trustly stores your personal information, making it a secure one among all the online casino payment methods.
Skrill is a popular e-wallet governed and regulated under UK law. Skrill works like PayPal. All you need to do is load your online account and use it to fund your online casino account. You can use Skrill for withdrawals as well as deposits. The best part about using Skrill is that it is available in almost every country.
Like Skrill, Neteller is an e-wallet that used to be the flagship provider for online gambling payments. However, it has declined because of the advent of other payment options. Nevertheless, it has remained a popular payment method that is accepted almost everywhere. By using the Net+ card, you can make a deposit or withdrawal quickly.
ecoPayz is an e-wallet that has been around for more than 20 years. Punters love ecoPayz as its ecoAccount can be opened for free with minimal information. ecoPayz is also supported worldwide, and this is why it is becoming increasingly popular every day. Many payments through ecoPayz are free, although some hidden fees are involved.
Prepaid cards and vouchers allow you to spend your funds on the card. Once you have exhausted the balance, you have to reload the card online or at a physical store. The reason punters opt for prepaid cards and vouchers is because they are not linked to their bank accounts. There are various prepaid cards you can try for your online gambling, but it depends on your jurisdiction. Common examples of prepaid cards and vouchers you can find at online casinos include:
Paysafecard is a European E-Wallet provider that is known for its security. Typically, Paysafecard vouchers are available in multiple currencies. So if you want to purchase different currencies, Paysafecard can handle the currency conversion. Its voucher comes with a unique 16-digit pin printed on the front. After purchasing it, log in to the casino website you want to play at and load the voucher. Note that you can only use Paysafecard as a deposit method.
ecoVoucher is a popular digital payment method and operates based on the principle of a prepaid card. All you have to do is purchase an ecoVoucher from a distributor with a preloaded amount and cash it in on any casino website that accepts ecoVoucher. Although ecoVoucher is secure, flexible, and has a fair fee, they do not support many currencies. Thus, restricting where it can be used.
Most online casino operators and bookies accept wire transfer as one of their primary payment methods. Bank wire transfers have strict requirements, making it one of the most secure best casino payment methods. For instance, wire transfers are subject to more rigorous KYC procedures. This reduces the possibility of fraud, money laundering, or other KYC-related risks for all parties involved in the transaction. Bank wire transfers are more prevalent in countries where quicker and easier online payments methods are not as widely available. While the stringent KYC procedures are great for security, they often take time. Thus, this payment method takes about five working days to complete. Another drawback of using wire transfer is that bank charges can vary depending on the amount withdrawn or deposited. These reasons are why punters don’t make the payment method their first choice.
Although bank transfers are one of the most secure ways to fund and withdraw money from an online casino, the processing is slow. But to make the waiting period shorter, banks responded with the instant bank transfer.
iDEAL is a payment method often used in the Nordic regions. It is most popular in the Netherlands. Statistics show that more than 54% of all Dutch online payments in 2014 were via iDEAL. Unlike other payment options, iDEAL does not impose transfer charges on punters, and they also offer optimal transfer flexibility. However, the most significant disadvantage of using iDEAL at the moment is that you cannot use it to cash out.
Giropay is another online casino payment method similar to iDEAL in function and form. This payment method is widely adopted in Germany, with over 80% of German banks affiliated with Giropay. Today, Giropay is one of the leading payment processors in Germany, with around 75% of Germans owning a Giropay card. One of the reasons why people use this payment method is its simplicity of use.
If you haven’t found your desired payment method from the options above, there are other casino payment options you can utilize. Let’s explore more.
Cryptocurrencies are another payment option many punters explore as more online casinos and sportsbooks are starting to adopt them. This largely stems from the security that bitcoin and other related cryptocurrencies provide. One of the advantages of using cryptocurrency as a payment method is its anonymity when withdrawing and depositing funds. Also, transactions in crypto take milliseconds to go through. They are extremely fast. If you want to use cryptocurrencies as your preferred payment method, keep in mind that their value is highly volatile. The volatility of this market could work for or against you, exposing you to another layer of risk.
If you are familiar with the Google products and can download the Google Pay app from Playstore, then you have an easy way of making a casino deposit. This payment method is available to all Android users that want to fund their online betting account. However, to use this payment method, you have to link it to a bank account registered in your name. It’s that easy.
Online casinos often handle large amounts of money coming in and out of their coffers. These transactions hold confidential personal and financial information that must be kept secure. However, a reputable casino must prioritize the punters’ privacy and take the necessary steps to protect their personal information. Below are some security protocols online gambling sites use to keep punters and their data safe:
SSLs are a standard technology that keeps the internet connection secure, safeguarding any sensitive data being sent between two systems. Online casinos use SSL to protect their servers’ information from criminals who want to read and modify the transferred information. SSL creates an encrypted connection that stores punters’ personal information in pieces and a special security key will be needed to unlock or read it. Take note of casino sites with a particular padlock icon near the URL. This indicates that they are protected with SSL encryption.
Firewalls are network security that keeps tabs on incoming and outgoing network traffic and block or allows data packets based on a set security rule. The use of firewalls on online casino websites establishes a barrier between the internal network and incoming traffic from external sources to block malicious traffic like hackers and viruses. Firewalls help guard traffic at the website’s entry points, called ports. The ports are where information is being exchanged with external devices. This way, online casinos can guard themselves against unwanted traffic entering their servers.
Another thing to look out for when searching for a secure online casino is the display of security certificates and logos. You can tell what kind of security measures the website adopts from the security certificates and logos. However, it is easy to fake them! So, whenever you are in doubt, you can always contact the issuing company, read reviews about the website, or the FAQ section to see if their assertion is legitimate.
Like any company, an online casino conducts internal audits. So, if you are looking for a quality online casino, keep close eyes on the certificates of companies that carry out independent audits. These audit companies ensure that casinos do not cheat and adhere to a strict code of ethics. There are many gambling auditors to look out for, but some of the well-known and widely used include eCOGRA, Gaming Labs, etc.
To play with real money at an online casino, you need to find a way of funding your casino account. Thankfully, we have highlighted some of the online casino payment methods you can go for in this article. Furthermore, it is worthy to note that online casino payment methods can vary widely in their own way. Some are faster, easier, and more secure. So, when it comes to choosing an online payment method, it all boils down to what you prefer. Also, the country where you live also depends on the type of payment method available to you.
Depositing at an online casino is seamless and straightforward, thanks to technology. You can deposit in a blink of an eye, provided you’re using the right payment method to fund your online casino account. All you need to do is select the amount you wish to deposit, fill out the required details, and start gambling online.
There are two ways to track your previous deposits and withdrawals. You can track your transactions by checking your bank statements. Also, you can track your previous transactions by checking the transaction history on your online casino account.
Although cashing out your winnings is not as fast as making a deposit, it doesn’t take much time. However, the time it takes to cash out often varies, depending on the payment method.