The king of conventional land-based casino payment options was cash. Cash was king, and traveler's checks were its council. While cash and checks proved to be reliable and straightforward for both withdrawals and deposits, the emergence of online casinos required a new approach to casino banking.
An ideal solution came in the form of credit cards, such as Visa and Mastercard. However, there were no security regulations. As the 1990s rolled into the early 2000s, E-wallets, the likes of Neteller and PayPal, emerged. These offered a brand-new way to conduct secure and convenient transactions, but they lacked the legitimacy and popularity of conventional payment methods. As the 2000s gave way to the 2010s, credit cards lost popularity and were replaced by prepaid cards, bank transfers, and instant banking options such as Trustly and Sofort. These types of banking methods were all the rage until the cryptocurrency era, when exciting new online casino banking options, such as Bitcoin, appeared. Their increased privacy and lightning-fast transactions caused a revolution that operators have to adapt to.
It is important to note that some of these banking options were limited to just deposits or withdraws, which, combined with their other cons, made them the last choice of certain types of punters.
While most of you probably have your eyes set on a specific payment option, you should nonetheless consider the classic specter of options, which include:
Technological conglomerates have produced some incredible mobile payment methods that we think you should be aware of. While these are exclusive to their respective devices, they are widely accepted.
The future of online casino withdrawal and deposit options is focused on simplicity, speed, security, anonymity, and the power of cutting-edge tech. Stay ahead of the curve by considering these payment methods:
Making online deposits and withdrawals can be anxiety-inducing, especially when dealing with large sums. Moreover, not every deposit method can be used for withdrawing, and some venues even impose fees. Check out the following tips to have the smoothest transactions possible:
Every punter has to choose their own preferred payment method. However, we want to simplify your decision by quickly breaking down the most popular banking methods around.
Bank Transfers Bank or wire transfers have a very long history of being the go-to solution for online casino deposits. The premise is straightforward; you transfer funds directly from your bank account to that of the casino. While this process is very reliable and comes with a handy paper trail, it requires a lot of patience as the transfers usually take several business days. Additionally, your activity is less hidden from prying eyes.
Cheques If an online casino has a physical location, then the usage of cheques for deposits is not unheard of. However, an online casino without a physical location will have a hard time accepting your cheque. Moreover, most casinos prefer the automated nature of more modern banking options, so you might have a hard time using cheques.
Credit Cards One of the most common online payment options is beloved by punters the world over. Its deposits are instant and widely accepted thanks to credit cards such as Visa, MasterCard, and American Express. While withdrawing can take a bit longer, due to verification processes, it is still faster than that of bank transfers.
Debit Cards Almost every casino supports debit cards, as they are the natural accomplice of credit cards. The usage of debit cards is very similar to bank transfers, with the main difference being far shorter processing times. However, debit cards allow you to accumulate debt, which can leave your finances crippled.
EFTs Electronic fund transfers are electronic movements of funds between accounts. You can think of them as a form of bank transfer. Most payroll deposits and bill payments operate on the basis of EFTs. Note that using an EFT might involve jumping through multiple loops.
Mobile Payments The term mobile payments is nowadays associated with mobile wallet applications, such as Apple and Google Pay. However, mobile payments are usually tied to phone bills. Punters simply enter their information and incur costs on their phone bills. Note that this payment method is relatively niche.
Payment Processors You can think of payment processors as digital banks with slightly more user-friendly intermediary roles. These third-party companies facilitate transactions between customers and merchants whilst maintaining security and cost-effective transfers.
Payment Gateways These software applications authorize and process online transactions between a customer’s bank and a merchant’s (the casino’s) account. They are straightforward and secure agreements that ensure secure payment processing. You have probably encountered one of these pop-ups when paying with PayPal.
Prepaid Cards Punters often forget that prepaid cards are a one-way street. You can only ever deposit funds; you cannot withdraw. However, their complete anonymity allows you to hide your personal information. What is more, you can buy them at most kiosks or even online.
Prepaid Vouchers You can think of prepaid vouchers as fancy coupons that grant you a certain amount of digital currency. You will often encounter them during online purchases, especially when considering online casino deposits. Note that they are not reusable.
Virtual Cards Virtual cards are essentially just digital credit or debit cards. You can use them for various online transactions, including online casino deposits. One of their main pros is that you can quickly delete or limit them, even within banking applications of traditional banks.
Vouchers While these are a rare sight, especially in today’s online banking world, you will eventually come across them. You can fund it with traditional payment options and then use it for deposits. The result is an added layer of security between you and your chosen casino. Moreover, you can fill it multiple times, making it a handy reusable alternative to prepaid vouchers.
eWallets Punters tend to use eWallets because of their convenience and safety. They are great for hiding your personal information from prying eyes and avoiding charges that appear on your bank statement. Moreover, these digital wallets allow you to convert funds into multiple currencies at the click of a button. You can even acquire crypto and other currencies of the future.
To get one of those offers, follow our step-by-step guide. It may seem straightforward, but we want you to be fully inormed before commiting to signing up. To get one of those offers, follow our step-by-step guide. It may seem straightforward, but we want you to be fully inormed before commiting to signing up.
View AllThis is a completely subjective choice that you should base on your privacy, payment processing, and accessibility preferences. However, you cannot go wrong with a simple credit card deposit.
Yes, they definitely are. However, you should only trust tried and tested payment options, preferably those that our in-house experts have vetted.
Yes, they are. The payment methods that we mentioned are used by tens of millions of people every single day, which means that they run like clockwork.
Deposits tend to be instant with most payment methods. Things get sticky when it comes to withdrawals, especially when dealing with banks and traditional institutions. Cryptocurrency transfers are by far the quickest in both directions.
We recommend that you stick to your local laws and regulations. However, if your country simply does not have online gambling laws, you can try to open an online casino account and fund it with an e-wallet.
Your chosen online casino should accept the payment options that you love. There is an almost endless supply of online casinos, especially in our recommendation sections, so you need not worry about rejecting a few candidates.
The majority of e-wallets only require a valid email and some form of identification. You need not connect your bank account or ask a traditional institution for permission.
Yes, you definitely can! However, this will disclose some of your personal information to the casino and show up on your bank statement.
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