In this day and age, online gambling is one of the most enjoyed pastime activities around the world. With more than 3000 online casinos and billions of active players, this industry is going strong. Needless to say, with so many active players, the revenue this industry is experiencing every single year is staggering.
Needless to say, due to their popularity, online casinos accept various payment methods, which only brings more convenience to their users. This versatility of options when it comes to depositing and withdrawal methods only manages to bring more people in, as every player can easily find an option that suits them best.
That being said, here is a list of different casino payment methods that are widely being offered and accepted.
Different types of payment methods
Since being able to make an online casino deposit is one of the most important aspects of a satisfactory gambling experience, online casinos have quite a diverse offer. While some providers have fixed payment methods, others will enable you to choose your preferred one. So, with that in mind, here is a guide to the best payment methods for online gambling.
Credit and debit cards
The majority of online casinos accept various credit and debit cards, such as Visa, MasterCard, and Maestro. And since these are quite easily accessible and provide ease of use, they are quite a popular payment method across the globe. Even though it is widely used, this payment method does have some disadvantages. The first and the most obvious one is that some banks simply refuse to accept any form of online gambling payments. Luckily, there are still banks that don’t have any issues accepting this type of payment, so online gamblers can still rely on this method of payment.
e-Wallets
It seems like more and more online casinos are accepting e-wallet payments each day, which makes more and more online gamblers turn to this method of payment. With e-wallets, online gamblers can easily make withdrawals and deposits that usually don’t take longer than 24 hours to go through. That being said, however, if you decide to use an e-wallet as your method of payment, do know that you will be facing some transaction fees. On top of that, you may also be faced with some exchange fees if the currency of your assets doesn’t match the ones accepted by the online casino of your choice. Aside from PayPal, online gamblers can also use Paysafecard, Skrill, Neteller, and EcoPayz.
Prepaid cards and vouchers
Prepaid cards and vouchers are other methods of payment online gamblers can rely on. With prepaid cards and vouchers, you can easily gamble online without having to pay directly with your credit or debit card. Paysafecard and EcoPayz are two of the most popular options, due to their high security and minimal fees. With EcoPayz, players don’t even need to provide a credit check. Instead, they can easily obtain a single-use prepaid card and use it to fund their gambling efforts.
Bank wire transfers
Wire transfers are generally widely accepted by online casinos since they are probably one of the safest methods of payment. Due to their strict requirements and regulations, wire transfers leave very little to no room for any type of misuse. However, since they are being so closely monitored and heavily regulated, wire transfers will take some time to go through. More accurately, this type of payment may take up to 7 days to go through. What’s more, wire transfer fees may sometimes get quite high, as the amount charged will directly depend on the amount that is being deposited or withdrawn.
Instant bank transfers
Similar to bank wire transfers, instant bank transfers still offer plenty of security without lengthy transaction times. As the name suggests, with instant bank transfers, you can easily transfer funds straight from your bank to the online casino of your choice without needing to send any of your essential payment details. Instant bank transfers offer safe transactions, without leaving room for any kind of misuse or fraud.
Cryptocurrencies
More and more online casinos are starting to accept cryptos as these currencies continue to grow in popularity and use. One of the main reasons why gamblers find this payment method quite convenient is the fact that crypto gambling doesn’t fall under the definition of “online gambling” in many areas where online gambling is not allowed. Crypto transactions are also quite fast – almost instantaneous to be precise – and very safe. On top of that, they also offer a certain dose of anonymity, which many online gamblers find to be quite appealing.
But how do online casinos guarantee security with payment transactions?
Online gambling involves large amounts of money constantly circulating between casinos and players. On top of that, the majority of these transactions also involve various confidential personal and financial information. Reputable online casinos take the necessary precautions to ensure the safety of not only these transactions but information as well. That’s why most of them will rely on:
- Using firewalls
- Securing their websites with SSL
- Displaying security certificates and logos
- Displaying licenses and accreditation
- Offering various deposit and withdrawal options
All of these are great proof that the casino you are checking out is a trustworthy and reputable organization you can easily sign up with. Needless to say, if any of these key markers are lacking, you should maybe think twice before you decide to leave your sensitive information or invest any money.
Luckily, the majority of modern online casinos are well ahead of the curve when safety and security are concerned.
So, if you are looking for an online casino to sign up with, make sure you first check the payment methods they offer and accept, so that you can easily choose the ones that suit you best. Needless to say, the more options you have at your disposal – the better. But the good news is that any online gambler will have plenty of options to choose from.