Special Report: Payment Methods

Published July 15, 2013 by OCR Editor

Special Report: Payment Methods

Decide which payment method suits you before gambling online.

You're ready to gamble online. You've chosen your form of gaming (casino, sports betting, poker, bingo, etc.) and the operator (William Hill, All Slots, Vernons are some of the larger operators, but there are hundreds of smaller ones too). Now for the last important decision: which payment method to choose.

Three Types of Payment Methods

The three most commonly used payment methods are: credit card, debit card and e-wallet.

Credit cards are cards such as Visa, Mastercard and American Express that most online casino customers should already have access to. In short, they are payment cards issued to users as system of payment, that allow the cardholder to pay for goods and services - everything from paying for your weekly shopping at the supermarket or mall to making an online casino deposit.

Debit cards are also usually issued by banks, but differ from credit cards in one important way: when you pay for a good or service (such as casino deposit) with a debit card, the value is deducted automatically from your account. When you pay by credit card, you may rack up a continuing balance of debt, subject to interest being charged.

E-wallets (or digital wallets or web wallets) are an invention of the online era. They are electronic devices that allow users to make e-commerce transaction, such as purchasing good or services online or in-store. These are now the number one option for online gamblers, as they cut out the middleman (the banks) and ensure that none of your personal or banking information is shared with your online gambling operator. Some of the more common e-wallets include: Skrill (Moneybookers), Ukash, and Click2pay.

Choosing Which Is Best for You

As a general rule, e-wallets and debit cards are safer and easier to manage than credit cards, although credit cards often win out for convenience. To choose which of these three options is best for you, you should always read up about the deposit methods used at your specific online gambling operator and the rules of the country in which you reside (for example, casinos can't accept credit card payments from residents of certain countries). If you are in doubt, contact your online casino's customer support (usually available 24/7 via phone, email or live chat) to find out what type of payment methods they accept.

Which Is Most Popular in Your Country?

Visa and Mastercard are the most popular online gambling payment methods worldwide, most likely because they are offered by banks and accepted in (almost) every country around the world. However, research shows that certain countries favor certain methods. Just see these countries as examples.

In the UK, NETeller is the most popular e-wallet, followed by Skrill and UKash. Across the water in Ireland, Skrill is number one, followed by NETeller and CitadelDirect. In Canada, E-Check is most popular, followed by InstaDebit and UseMyBank. In Australia, it is: UKash, Envoy and NETeller. In New Zealand, it is the same three, but Envoy is more popular than UKash.

For many Asian countries, credit cards aren't even an option for your online gambling payments, which means customers there rely almost exclusively on e-wallets. In Singapore, Skrill and NETeller are the most popular online casino payment options, In India NETeller and Entropay stand out, and in Philippines Entropay is number one.

For residents of a few unfortunate countries, online gambling operators actually won't accept e-wallets. In Jamaica, for example, gamblers are generally restricted to using credit card options such as Mastercard or Visa.

Time to Withdraw?

Okay, so now that you've won your share of money, you're ready to withdraw your winnings. Even if you've chosen an "easy" payment method such as e-wallets, you still might be required to provide additional information and submit additional forms before withdrawing your money. Make sure to check with the individual casino to see if they have separate requirements upon withdrawal.

Additional Resources

For additional information about payment methods, OCR's Forum is a great reference for reading about what other player's have used and to voice your own questions and concerns about what type of payment to use. Sign on and create an account on our website and ask away - we'll have an answer to your inquiry within a few days!

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