Contributing Tennis, Golf, and Soccer Editor
Contributing Tennis, Golf, and Soccer Editor
The days of visiting brick-and-mortar gambling establishments are long gone as the online casino era has dawned on us. Instead, we've seen online operators offering everything from slot and table games to sports betting options all under one site.
This allows players to enjoy their favorite games anywhere and at any time. The fact that online casino payment options are as diverse as the games offered also makes it much easier for players to focus on what they love doing best - gambling. So let's take a closer look at the number of online casino payment methods currently offered.
Before playing at any online gambling establishment, you'll need to make a deposit using one of the many online casino payment options currently offered by online casinos in your country.
However, you'll need to check which options your bookmaker accepts and also make sure that you can deposit and withdraw using the same online casino payment options if that's what you prefer. More importantly, thoroughly read through the operator's terms and conditions to ensure that the site is a good fit for you.
Once you've done your due diligence, and are ready to fund your online casino account, here are some of the safest and most popular online casino payment methods to choose from:
Hundreds of operators widely accept credit and debit cards as an online casino payment option which is why it has become one of the most popular gambling payment providers. Consequently, they are also one of the most frequently used payment options. So let's look at the credit and debit cards that most punters use to fund their accounts.
It's safe to say that Visa is not just "everywhere you go" but the most popular and widely accepted card at most operator sites.
It does, however, have some drawbacks, such as slower payment processing than e-wallets. Another disadvantage of Visa is that while most bookies accept them as casino deposit options, many of them won't allow you to withdraw your winnings using the same method.
Additionally, withdrawals processed to your Visa may take days to show up in your bank account. Lastly, if you decide to withdraw your winnings via your Visa, it must have been the method used to make your deposit for it to be accepted as a payout option by the casino.
MasterCard is not far behind Visa in terms of popularity and as far as casino deposit options are concerned. It does also share lots of the same benefits and drawbacks as Visa. Like Visa, MasterCard offers players speed, simplicity, and availability to fund their bookmaker account. But withdrawals are becoming far more difficult using this online casino payment method.
Consequently, withdrawals requested to your MasterCard are subject to the same policies that apply to Visa, and even when it is processed to your MasterCard, your payout could take several days to reflect in your bank account.
Although some operators accept American Express as an online casino payment option, the majority will reject AMEX as a payment method, and here's why: the legislation surrounding online gambling in America is strict.
But if the site accepts your AMEX card and you would prefer to use it as a deposit option, ensure that you gamble responsibly and read the terms and conditions regarding charges to your credit card.
Not only do virtual wallets allow you to keep track of your transactions, but withdrawals are also much faster when compared to other online casino payment options. Here are some of the most frequently used wallets.
We can confidently say that PayPal is not just the most widely used and accepted payment option, but the most well-known as well, due to its affiliation with eBay.
However, it is more reassuring to know that PayPal has strict internal policies that vet online operators, and paying at a Paypal casino definitely indicates the bookmaker's credibility. In a nutshell, it means that the casino is fully licensed, and that's one less thing you have to worry about.
We'd say that PayPal is the best wallet and online casino payment option to play with because there are no fees when you deposit, and cashouts take less than 24 hours with a minimum charge incurred.
Skrill shares many of the features of PayPal, such as being fast, safe, and convenient to use. Deposits and withdrawals can be made using this online casino payment option, but there are commission charges unless you are able to find a commission-free operator. This basically means that the casino will carry the fees for you.
Although widely used in many countries around the world, Neteller is somewhat limited in the US, making it a not-so-popular online casino payment method. In addition, most states don't allow the use of Neteller as a bookmaker payment method except for New Jersey, Delaware, and Nevada.
But, that should not be a cause for alarm as Neteller could very well be expanding its reach in the future, and in the meantime, PayPal is an option that offers US players more freedom.
Irrespective of whether you are a novice online gambler or a seasoned one, being able to fund your casino account safely, swiftly, and securely is of huge importance. There are different online casino deposit methods, and all of the options we've mentioned above may be used to fund your account.
Most bookmakers have huge amounts of money moving in and out of their casino coffers. That said, these transactions include users' financial and personal data, and sites that value their players' business take the necessary steps to protect them. These steps should be taken for all the available online betting payment methods on these sites. Lets find out how:
One way of preventing unwanted traffic from entering a site is to put up firewalls which reputable operators do. These firewalls then filter the traffic coming in and going out of the site to protect the site and its players.
Lots of online casinos will display a VeriSign or similar logo to let players know that their site is safe. However, this is not the best way of determining whether an operator is legit and fully licensed as it can be faked. So the best way to confirm a bookmaker's licensing is to contact the relevant licensing jurisdiction, which may be Malta Gaming Authority, Government of Curacao, or United Kingdom Gambling Commission.
SSL or secure socket layer is a way that operators protect or guard your personal and financial details. It simply means that the site is encrypted and secure. One way of telling if a site is using SSL is to look out for a green bar near the URL. If you spot it, then it indicates that the bookie has its player's transactions protected.
Reading privacy policies is also something that should not be overlooked. Failure to do so could mean that your personal data is sold or shared with third parties, and that could open up a whole other can of worms.
Disputes are a fact of life in all industries, and the iGaming industry is no different. However, legit casino operators hire third-party auditors to confirm the safety and fairness of the site. Some of the well-known third-party auditors are iTech Labs, eCOGRA, and TST.
A credible and trustworthy online operator should be able to offer their players a number of deposit and withdrawal options as one way of proving their credibility.
If you are excited to start wagering, then it will do you good to use an instant deposit method. However, not all deposit options are created equal or speedy, for that matter.
Deposits may be slow to show up in your operator's account if they need time to confirm your identity and transaction. However, in most cases, you won't wait more than a few minutes for your deposit to reflect.
While credit card transactions are fast, wallets are almost instant. Just check out our reviews for Skrill bookmakers and you'll see what we mean.
When choosing online gambling payment methods based on how fast your deposits reflect, don't neglect the fact that you'll need to withdraw your winnings and therefore need to confirm payout processing times as well. That said, withdrawal waiting times can vary depending on the payment method.
So while credit card deposits are instant, credit card withdrawals may leave you waiting for your money for days in a row. The same goes for cheques and bank wires which could see you waiting a week or so for your winnings.
In our experience, wallets are the fastest withdrawal methods, and you'll only need to wait for one to 24 hours for your money.
Another point to remember is that withdrawal processing times are based on two factors: the operator staff's time to process your request and your preferred payment method.
So if you have chosen the fastest payout methods and are still waiting more than 24-48 hours for your winnings, the delay is likely with the operator and not your payment method.
When using casino deposit options and online casino payment methods, ensure that the payment method and the operator are credible and secure. Additionally, try to submit all verification documents upon signing up to avoid delays when it comes time to request your payout.
Another word of advice is to separate your payment methods used for gambling from the ones used for everyday transactions to avoid confusion and keep things under control.
That said, the online casino industry is an ever-evolving one, so do your due diligence before betting and keep your eyes peeled for new payment options. If you feel like you need more paymetn options then we suggest taking a look at our reviews for the best Neteller betting sites and the best credit card betting sites.
The payment options we've mentioned so far are known to be safe, secure, and reliable. So using reliable payment methods will help you avoid theft and fraud.
There are many payment and banking options that are fast and reliable when it comes to instant deposits and requesting payouts.
You don't necessarily need a credit card to bet at an online casino. However, suppose it is your preferred payment method. In that case, you should take the time to learn the advantages and disadvantages of using it as a banking option at your chosen operator site.
In most cases, your winnings are paid back using the same payment option you used to fund your casino account. Alternatively, you can reach out to your operator support team and find out if they offer other payment options for withdrawals.