A majority of the online casinos offer a wide range of payment options in order to be able to suit all players. Typically, the range of payment options offered by them can be numbered in dozens and comprises a majority of the major payment cards, e-wallets, and bank transfers of various kinds. You can even spend money from your device to play with, utilizing services like Apple Pay, if you have it installed on your device and the casino where you are playing supports this payment method.
Ensuring that the payment options of an online casino are convenient for you is one of the most important things that you can check before you register at a casino. So, let us now discuss the most common payment options at online casinos, as well as the pros and cons of each option.
Credit and Debit Cards
The most common payment method in online casinos is credit and debit cards. They are usually the fastest and most widely accepted payment method for players around the world. For those specifically looking for a reliable payment option, using an online casino credit card can be a great choice.
Some of the major credit and debit card providers you’ll find in online casinos include, among others:
- VISA
- MasterCard
- American Express
- Switch
- Discover
Credit and debit cards are widely used at online casinos because they provide convenience, easy access, and have security features, and no transactions fees (although that may vary with the card issuer and the online casino, so do please check).
Issues about credit card and debit card use in casino games online most pertain to credit cards. That is because credit cards make it easier for one to fall into debt, and credit cards also tend to have high interest rates, also, that maximize whatever is being lost. That is not, however, the experience of most gamblers.
In theory, you should not be reluctant to pay at online casinos with a well-known credit or debit card provider.
E-Wallets
The e-wallet, which is fast becoming a favourite payment vehicle for online transactions (and online casinos), is provided by the majority of online gambling sites for depositing and withdrawing.
Online casino e-wallets include but are not limited to:
- PayPal
- Neteller
- Skrill
- PaysafeCard
- EcoPayz
- MuchBetter
E-wallets are widely used on internet casinos to facilitate gambling, and they are favored by those who like having the extra security of e-wallets. Most players also like the international compatibility of e-wallets if they travel a lot, or some e-wallets offer anonymity. Be careful, though, there are controls in place to make sure that any legitimate online casino with anonymous e-wallets still complies with minimum age limits for gambling.
Disadvantages of using e-wallets at online casinos are that some of them are slower than credit/debit card transactions, for example. They are not also as widely accepted at online casinos as credit/debit cards.
Generally speaking, paying at an internet casino with a reputable e-wallet will not cause any issues and is an entirely acceptable payment method. PayPal is probably the most well-known payment institution and is used throughout internet casinos worldwide. We would also recommend making a prepaid option, for instance, PaysafeCard, provided you are seeking privacy options. PaysafeCard does not allow withdrawals but is a simple and quick way of adding money to your casino account.
Bank Transfers
Bank transfers, while less popular nowadays than they used to be, are still one of the most popular payment methods in online casinos.
High-rollers especially love bank transfers because of the extra security that this trusty payment method provides.
Of course, the extra security is paid for in the form of some delay, so bank transfers are not typically the first choice for most players who bet small amounts.
Nevertheless, bank transfers are an entirely legal and safe way to make deposits and withdrawals in online casinos.
How to Choose the Best Payment Means in a Casino
There are a thousand reasons which may determine your choice of the best gaming payment for a casino, the most important of which are personal circumstances and personal preferences. However, there are certain things to remember irrespective of what your gaming payment of choice is:
- Safety and security: Go for payment facilities that have sound security features in order to keep your sensitive personal finance information protected. Go for casinos that make use of superior encryption technologies, fraud protection services, and secured payment systems.
- Transaction speed: Consider the processing time for both deposits and withdrawals. Some methods, like e-wallets, offer faster transactions, while others, like bank transfers, may take longer. If fast payouts are important to you, choose methods with efficient processing times.
- Transaction fees: Are the charges for every payment method. Some payment methods bear exchange rate charges or transaction charges which can make a dent in your gaming budget. Compare the fee of the various options and choose the cheapest one.
There are a few more to note, but the three mentioned above are some of the most important and generally applicable ones.