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Payment Methods used by Online Casinos

One of the great advantages of playing at an online casino is that there is no need for a player to take any risks that are common for a land based casino. One of these advantages is the payment methods that are used by all the well-known online casinos. These secure absolute privacy and security through the online payment industry. These payment methods are used for both deposits as well as withdrawals to ensure the maximum amount of trust between the player and the online casino. No need to carry cash with you to or from the casino.

While it differs per country which payment methods are offered, most online casinos will offer a variety of different methods in order to accommodate the player as much as possible. Depending on the payment method chose, the money you have deposited with either appear on your account immediately, or after a few hours.

Various Payment Methods

In order to shine some light on the various payment methods and the differences, we have described the multiple methods below, in order of usage by players.

E-Wallets

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E-Wallets are most often used by players of online casinos. This is because they carry the most advantages and least amount of disadvantages for players as well as online casinos. These are also considered as being easy to get a hold of, but very secure nonetheless.

E-Wallets are generally speaking quick in transferring the wished sum, with the money appearing directly on your account, depending on the online casino. They are also popular since they do not demand high fees for transferring larger sums of money.

E-Wallets are primarily used by players who are adamant about the safety of their account. Since these E-Wallets are prepaid, a player will never owe the payment provider money. It is simply a case of transferring money from your bank account to your E-Wallet account, and then transferring the money from your E-Wallet account to the online casino.

The most well-known E-Wallets that almost all online casinos use are: Skrill and Neteller.

Credit Card

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Naturally, many players use a credit card to deposit at an online casino because of its convenience and clarity. Most people are in possession of at least one credit card. Next to paying for airplane tickets, the newest trendy items, or expensive dinners, credit cards are reliable because of their somewhat universal acceptance. It goes without saying that the use of credit cards at an online casino require one’s own restraint in regards to limits and addiction.

Debit Card

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Debit cards are similar to E-Wallets in that they use the pre-paid method. This means that you can only transfer an amount to an online casino that you have transferred to your debit card. Some online casinos offer their own deposit cards, that you may also present to others as a gift, with online casino credits to the receiver.

Wire Transfers

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Wire Transfers may be used by some online casinos. While this is perhaps one of the safest and cheapest options, most transfers take longer than other payment methods. This is because some banks have a certain transfer time. For those willing to  retain their privacy, this may not be the best option, as the online casino name will generally be shown on the players bank transcript in this case.

Other Payment Methods

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Perhaps somewhat old fashioned, but still used – the EChecks. EChecks work in the same fashion as normal checks, only it is no longer necessary to actually send the physical piece of paper. Another method of payment is through the phone. While this payment method is rarely used, several players in the older generation choose to use this prepaid option because they find it a more personal, and therefore safe transaction. These payment methods generally take longer, ranging from a couple of hours to a day. This is why they are not offered at all online casinos.

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