The development of the internet inarguably catapulted humankind into a new dimension. Today, it’s hard to imagine life without it. We use the internet to find and share information, do our shopping, and entertain ourselves.
Since going live in the mid-1990s, online gambling, one of the internet’s most sought-after forms of entertainment, exploded. At first, like with any other new initiative, online gambling went through some hiccups.
Graphics and offerings were not what they are today. There were many legalities to iron out, and scam sites often popped up and disappeared with players’ money. Deposits and withdrawals were also a nightmare. Players had to wait days for clearance before placing a single bet, and it took ages for winnings to be processed.
Today, we have regulated casinos where players can safely place wagers. Payment methods have also come a long way, providing players with high levels of security and fast payouts. This article explores the various payment options available at online casinos.
Importance of reliable payment methods
The swift processing of deposits and withdrawals top the priority list of most online gamblers. Nobody wants to wait hours or days to place their first sports bet or play a round of poker after they made a deposit. The best online casinos use trusted payment methods that make funds instantly available.
Online casinos accept credit, debit, and prepaid cards as payment methods. Credit and debit cards can be used for both deposits and withdrawals, while prepaid cards are only good for deposits.
As one of the earliest payment methods accepted by casinos, credit cards remain a popular payment option. All online casinos accept credit cards. Often, credit card deposits and withdrawals can be made to online casinos in countries other than the one a player resides in. For example, most European online casinos accept deposits from US players via their Visa or Mastercard credit cards, which are internationally accepted.
Available worldwide and used daily, credit cards provide a secure and convenient way to make online casino deposits and withdrawals. This payment method also provides online gamblers with a bit of leeway. They can opt to pay off their online casino deposits at a later date or over a period of time. Having said that, this is not advisable. Do not gamble with money that you can’t afford to lose or pay back straight away. Credits cards remain one of the safest ways to gamble online.
Using a debit card is another fast and reliable way of depositing and withdrawing online casino funds. Debit cards, as with credit cards, are widely accepted and are an especially popular payment method at UK online casinos.
Almost all online casinos allow players to make deposits and withdrawals through their debit cards. These cards are linked to bank accounts and allow holders to make instant payments.
When using a debit card as an online casino payment option, a person cannot accrue credit card debt and overspend. You can only deposit funds available in your bank account.
Visa credit and debit cards are accepted at all online casinos because they are internationally available. Most online casinos also accept Mastercard and American Express (AMEX).
A paysafecard is a prepaid payment method. It’s readily available across Europe and the UK. Many players use this card to make deposits at online casinos.
You can top up the funds in this card at any number of high street retailers or by purchasing top-up vouchers directly from the website. No banking details are shared between different sites, making this a secure payment method. Cardholders can also access their codes through the free app available on both Android and iOS mobile devices.
Digital wallets, more readily known as e-wallets, are software-based systems used to make various payments over the internet. These digital payment methods are secure and don’t require users to share their banking details with third parties such as online casinos. Various digital payment systems are available and accepted at the best online casinos.
PayPal offers its users top security and is accepted worldwide by almost all online casinos. Some online casinos only accept PayPal as a deposit method. So, players should find out if they can also use this method for withdrawals before signing up with a specific casino. In rare instances, PayPal isn’t accepted as a payment option.
Neteller is another popular e-wallet widely accepted at online casinos. This payment option offers security and quick deposits and withdrawals. As with most other digital payment services, Neteller clients can process currencies from different countries.
This payment option gained popularity because of its diverse offerings. Apart from online payments, Neteller also issues prepaid cards and processes e-transfers.
Eco Card and ecoPayz
Eco Card is a very popular online casino deposit method across Canada and Europe. It facilitates deposits in several currencies while offering security and convenience. An Eco Card works the same as a debit or credit card.
The Eco Card initiative falls under the well-known ecoPayz name. ecoPayz is another payment option that’s especially popular in Canada and allows users to fund their online casinos with 45 different currencies.
If you don’t want to use your debit or credit card, PayNearMe provides an option for making secure casino deposits. This method allows you to make cash deposits at participating stores with the barcode provided by your favorite online casino. Once the casino acknowledges the deposit, you’re good to go.
Many players prefer bank transfers to deposit their online casino funds. This can be done as:
- Wire transfers: Most online casinos accept wire transfers for deposit and withdrawal purposes. Players must, however, keep in mind that wire transfers often come with banking and casino fees.
- eChecks: This payment method is widely used in Canada as an easy and secure way to make deposits. It also has lower processing fees than credit cards or wire transfers.
- InstaDebit: Canadians are also fond of this instant online casino deposit method.
Bitcoin opened a new way of transacting when it launched. Today, there are numerous digital currencies on the market that can be used for online purchases and other transactions. Many casinos now accept Bitcoin and some other digital currencies as a payment option.
Whatever payment method you choose, remember to stick to your budget. Gambling can be addictive and you don’t want to gamble your life away.