Today more and more people are migrating from playing at land-based casinos to online gambling sites. It’s no wonder as they provide improved convenience and flexibility. You may not be aware that online betting comes with its own requirements, such as payments. You need to find a way to conduct them quickly and safely.
Knowing all available online casinos payment methods before starting betting online can save you a lot of hassle. The only thing you should do at a land-based casino is to exchange chips you have won there to cash. However, things are different with online betting. We are here to tell you everything you have to know about online betting payment options.
Online Casino Payments
Online banking was considered quite risky in the past. Since that time things have changed, making this payment method one of the easiest, fastest, and trustworthy ways of transferring money. People opt for online banking as there have been numerous improvements by online money transfer companies in order to make the industry streamline.
As well as a huge number of games, payment methods at online casinos are accessible to all users all around the globe. They offer the easiest way of transferring money without waiting for long and paying too many fees. So, what are the accepted payment methods? Let’s see!
Credit/Debit Cards
These cards are the most common payment gateways for online casinos. They are easy to use, safe and secure for online transactions. The most common types of cards are MasterCard, Visa, and the American Express.
If you want to use your MasterCard as an online casino payment method, just fill out your card details on the casino’s payment page as required. Once you have added everything needed, you can deposit funds from your bank account to your casino account. Normally, it takes just a few seconds.
Like any others, online casinos with debit cards have their own pros and cons.
Pros
- Easy deposits
- Wide acceptance
- Safe transactions
Cons
- Some casinos don’t allow withdrawals through these cards
- Transactions might require a service charge
Bank transfers
It’s probably the oldest online payment method. Accepted all over the world, bank transfers aren’t that fast. However, this payment method remains the most secure one. It’s always a good idea to make online casino deposits with a bank account.
Another drawback is service fees you should pay for transactions. With a bank transfer as a payment method, a minimal required withdrawal or deposit will be bigger than for any other payment method.
Pros
- Absolutely secure
- Widely accepted
- Accepts various currencies
Cons
- Charges a fee
- Very slow
E-Wallets
E-wallets have become the most popular payment methods online. You can store your money there with ease as well as make fast payments. They are absolutely secure and considered one of the fastest payment methods. They are especially good for withdrawing funds.
Wondering about the most popular e-wallets? Those are Skrill, Neteller, and PayPal. No wonder that most online casinos accept them as they are secure, fast and convenient! Although there are some service fees, the speed of transaction is worth it.
Pros
- Fast deposits and withdrawals
- Available everywhere
- Easy to use and secure
Cons
- Don’t allow to use some welcome bonuses
- Have service fees
Instant Bank Transfers
Such casino payments are preferred by most players due to their short transaction time. Unlike the mentioned bank transfers that take some time, this method is pretty fast. The most popular instant banking in the EU is Trustly. It is commonly used in the gambling industry and acts as the middleman. Trustly transfers money from the bank into an online casino’s account without providing payment details. Therefore, players are sure their funds are transacted safely, with no fraud in the process.
Oftentimes, instant bank transfers are used for deposits. Another method is required for withdrawals.
This payment method is the number one at online casinos in the Philippines, for example in the onlinecasinorealmoney.net. It is pretty easy to find a casino that offers to use an instant bank transfer there.
Pros
- Instant transactions
- Safe and secure
- Widely accepted
Cons
- Not allowed for withdrawals
- Charges service fee
Cryptocurrencies
The newest payment method available at many online casinos is cryptocurrencies. Not only does it provide users the ultimate security but also anonymity. Cryptos operate under encryption technology. The most known crypto is Bitcoin and payments in Bitcoins are preferred online casino US payment methods because they allow playing online legally. Unlike other payment options, gambling with Bitcoin is not classified like online gambling.
Cryptocurrency casinos are popping up a dime and dozen all over the world as they use the latest casino payments software. Apart from Bitcoin, other cyrptocurrencies like Bitcoin Cash, Ethereum and Litecoin are being accepted.
Pros
- Truly fast transactions
- The utmost security & anonymity
- Lower service fees
Cons
- Not accepted everywhere
The Things to Know When Conducting Payments at an Online Casino
So, you’ve chosen a convenient payment method. But there remain other things you should take into account. Some of them include:
- Service fees
While some payment methods don’t charge a fee, others do so. We are talking about debit card casinos, e-wallets, and bank transfers. Always get familiar with it before settling on a payment method.
- Deposit / Withdrawal Times
Going to play at online casinos for real money? Then you need funds on your account. While most gambling methods process payments in the shortest term possible, bank transfers will surely take some time.
For instance, you’d like to withdraw your winnings right away. For this very reason, you should choose a payment option that will process your payout in an instant. Keep in mind that withdrawal time depends on a casino as well. While some casinos process withdrawals pretty fast, others are slow in this regard.
For fast withdrawals, set your sights on e-wallets and the best visa online casinos.
- Deposit and Payout Limits
Minimum deposit limits may be required by either an online casino or a financial service provider. Or, by both of them. Also, casinos may set payout limits. It indicates how much a player can withdraw in a single transaction daily, weekly, or monthly. Each payment method has its own payout limit. Therefore, high rollers prefer bank transfers as it offers the highest payout limits.
Conclusion
In this article, we tried to help you define what to look for when choosing an online casino for mobile payment. So, don’t hesitate! Go and check firsthand what works for you best.
