To get full enjoyment from online gambling, players should be able to move money with speed and convenience and know this is done securely. Players want to upload funds rapidly to favourite sites, have the freedom to transfer winnings when this wish and also to have account access 24/7 wherever they are.
Several payment methods can be used to deposit in online casinos, and the choice depends on the players’ priorities. Now, online casinos offer a wide range of payment methods and withdrawal options that are quick, secure and easy-to-use. Here are some of them.
There are many payment providers you can use at online casinos, listed in terms of current popularity.
The online casino payment process by debit cards is similar to online shopping in terms of entering the relevant details. Most casinos accept debit cards, but processing fees vary with some sites allows free deposits and withdrawals, whilst others may not. The most commonly accepted debit cards include VISA Debit, VISA Electron, Prepaid MasterCard and Maestro.
Since 14 April 2020, credit cards are no longer accepted on UK casino and betting sites as deposit and withdrawal options for UK gambling customers.
A digital wallet (or e-wallet) is a software-based system that securely stores an individual’s payment information and passwords for many payment methods and websites. Money can be moved easily, quickly and securely via a smartphone, making access possible 24/7 wherever you are.
Digital wallets are used on payment platforms such as PayPal and Alipay and are the main interface for using cryptocurrencies such as Bitcoin. Digital wallets are secure because your bank details are hidden, but they can still cause a loss of privacy since companies will have access to their customers’ payment and withdrawal habits, which they can use for marketing purposes. If you want to play with cryptocurrencies, these rely solely on digital wallets.
A wallet is connected to cards, bank accounts or other funding streams, but these connections are invisible when using the wallet itself to move funds to a gambling site. Wallets offer security and discretion as well as speed and convenience. Moving money is instant and on many sites there is no fee charged. All you need to move the money is an email address and password.
Winnings can be withdrawn to the wallet and can then either be spent from their or sent to the connected cards or accounts. The wallet provider may apply charges when you upload or withdraw funds although online banking or debit card is usually free. Most wallets charge for withdrawals.
Skrill, NETELLER and paysafecard are the big three digital wallets, though Skrill and NETELLER accounts do not usually qualify for bonus offers. PayPal is another digital wallet option although it is accepted by fewer sites.
Prepaid Cards and Instant Payment Services
Prepaid cards, also known as top-up cards, work like a debit card needing no access to an account or loan facility, which can make it easier to control and track spending, since you can only spend what is on the card.
Prepaid cards can be physical or virtual but have a number that needs to be input for instant transfer. Fees vary, though online casinos do not charge for deposits with prepaid cards like paysafecard.
Direct Bank Transfers to Your Account
Bank transfers are a direct transfer of money from your bank account to your online casino and usually has no feeds because there is no middleman in the process.
Pay by Phone Bill
Online casino players can also use their mobile phone to make deposits without having to divulge any personal identifying information. This adds a layer of identity protection not possible in the more common debit payments since the cost and charges are added to the mobile phone bill via a pay-by-phone option.
Bitcoin and other cryptocurrency payments
Bitcoin is probably the most well-known digital cryptocurrency, a decentralised electronic payment system that offers players privacy. Some online casinos are set up for the sole purpose of using bitcoin.