There are different types of payment methods available in online casinos. Payments can be done via e-wallet, bank payment link, cryptocurrency or credit/debit cards. In the following, we will look at the different payment methods and help you decide which is the best one.
Credit and Debit cards are the most popular payment methods for online casinos, but if you intend to play at a few casinos, it might be a good idea to have a separate one in place for your gambling activities. If you wish to take a bank loan then a credit/debit card might not be the best solution for you since banks take gambling activity as a sign of risk.
There is an increasing number of online casinos which accept cryptocurrencies as a payment option. If you are considering using a cryptocurrency, keep in mind that their value is extremely volatile. The highs and lows of this market could work for or against you, which can be a bit risky.
Prepaid cards can be really handy when players want to retain anonymity and not provide their personal information. It also makes it really easy to stick to limits and ensure that gambling online does not become a problem. There are no fees applied to pre-paid cards, but not all casinos accept them, and players may struggle to get winnings paid out.
E-wallets link a player’s bank accounts to their digital wallet in a safe and secure manner. If you like, it is also possible to order a physical bank card you can use in an ATM. E-wallets have the advantage of speed and security. With both intermediaries, deposits and withdrawals are made quickly. Once the casino has confirmed the payment, the player will receive the money immediately. For comparison, banks can process incoming payments in multiple business days.
Some of the best known and most common e-wallets are as follows:
Trustly is a Swedish payment intermediation service that mediates payments between a bank and a casino. Trustly allows you to pay via an online bank account. The biggest advantage is that there is no need to create a separate account and payments are fast and secure. Trustly has also created a Pay N Play system, which means that you do not need to create an account to play in the casino – some casinos offer this service.
Skrill is a UK payment service intermediary that is available in almost all online casinos. The advantage of Skrill is speed and safety. On the downside, it should be mentioned that the minimum deposits through Skrill may be significantly higher in some casinos than when using the Trustly environment, for example. Also, some casinos may not be able to receive a welcome bonus when making a Skrill payment.
NetEller, like Skrill, is an e-payment service. The service is managed by the well-known company Paysafe, which is licensed in the United Kingdom. The service is similar to Skrill – it can be used to make payments online as well as order a bank card, which allows you to withdraw money from an ATM. Deposits and withdrawals are fast and the service is secure. The disadvantage may be the slightly higher currency conversion charges for non-VIPs.
Which is the best one?
There are lots of different payment methods available to players, all with their pros and cons. Thankfully all of them are secure, as long as players take basic precautions when using their financial information online.
While the most important aspect of making payments online is their security, the speed of payments is certainly another crucial factor. If the deposits are basically instantaneous regardless of your payment method, then when making withdrawals, the speed of payments already depends on the specific casino and the payment method.
Regardless of the payment method you choose, it must be convenient for you. Some players prefer a credit card, others an e-wallet but maybe for you the most convenient option is something else. As long as you use secure payment methods, the final decision is yours.