Online casinos are rapidly gaining popularity due to their accessibility. Even though they had humble beginnings, they now rival land-based casinos in terms of the player base. As they grow in number and size, various online casinos work hard to diversify themselves and beat the competition.
In order to stand out from the crowd, casinos started offering various sign-up bonuses, expanded their game selection, and most importantly – in order to attract a broader range of customers – they added multiple payment methods.
In case you are wondering which payment method you should use to make deposits in online casinos – keep reading. Our article includes a small list of different options that allow you to make deposits and withdrawals in online casinos.
Credit Cards
Credit cards are the most popular payment method in online casinos and online in general. They are connected to your bank account and they allow you to withdraw money directly from your account and use it online. Credit cards are very convenient — by using a credit card you can withdraw and deposit funds in the fastest way possible, which makes this method a preferred one among players all over the world.
The two most popular credit and debit card brands that most, if not all, online casinos support are Visa and Mastercard. However, while your bank keeps your transfers secure, many players dislike the idea of providing online casino websites with their personal data. Therefore, some of them opt for eWallets or cryptocurrencies instead.
Bitcoin
Bitcoin has taken the world by storm — it is the most popular cryptocurrency and one of the most popular online payment methods as well. It allows users to make payments and withdraw cash by using a decentralized network, which means that the service is not connected to any banks or governed by a third party.
The most significant advantage of using Bitcoin is the anonymity that it provides. However, regardless of its popularity, not every casino offers Bitcoin as a payment method, which makes casinos that do support it slightly more exclusive.
If you are looking for ways to use cryptocurrencies, Bitcoin video poker or video slots are some of the options at your disposal in casinos that accept Bitcoin as a payment method.
eWallets & e-Transfer
eWallets work precisely as the name suggests – they allow you to deposit money into an electronic wallet and use it later. That is similar to the way bank accounts and credit cards operate. However, the most significant difference and the major advantage of eWallets is that you can additionally secure every transaction you make online for a small fee.
Instead of inputting sensitive data across the web, you will only be required to register with the eWallet service. The eWallet system uses the same currency that you use to make a deposit. However, that doesn’t have to be a problem because popular eWallets like Skrill use numerous currencies that are accepted in many reputable online casinos.
You could say that eWallets like Skrill act as an intermediary between your bank and an online casino or any other merchant that lets you purchase products online.
Another payment method that offers similar service to Skrill is Neteller. Note that Neteller is not an eWallet, so you are not required to deposit funds into your Neteller account in order to use those funds online. Instead, Neteller will simply withdraw funds directly from your bank account each time you make a purchase or deposit funds into your casino account.
Both of these payment methods are present in numerous reputable online casinos and popular among players who pay extra attention to security.
Bank Wire Transfer
Bank wire transfer is the oldest method of transferring funds online that allows you to send money directly from one bank account to another. Even though it is the most reliable and secure method of payment, bank wire transfer is slightly outdated nowadays.
While most online casinos accept wire transfer as a form of payment, players sometimes tend to avoid it due to the fact that they can’t really use it outside of casinos. On the other hand, some other payment methods can be used for multiple purposes.
Moreover, the process is not as straightforward as with other payment methods. Finally, additional security measures and verification of transactions means longer processing times for each transfer.
Conclusion
As you can see, modern-day casinos offer multiple choices when it comes to making deposits and withdrawals. Players usually choose a method based on its availability, the fees that come with it, and the fact whether it can be used outside of online casinos and where. Is one of these methods your daily driver?