Best Payment and Deposit Methods in Online Casino: The Ultimate Guide
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With the advent of online casinos, both veteran and novice players were concerned about the security of online money transfers. Online casinos came up with the best payment methods to ensure that the players’ trust is not compromised. Online casino deposit and withdrawal methods have been simplified for players not to feel puzzled while enjoying their games. The best and safest online casinos ensure that the security of the hefty amounts during deposit and withdrawals is kept at the pedestal. Online pay methods are tried and tested for security and provide a swift and safe transfer of money. Many popular pay methods are catering to the online casino sector, adding to the much-needed flexibility. We will provide you with an essential guide about the payment methods catering to the online casino industry to help you be well-equipped before landing in the online gaming space.
What is a payment and deposit method? How does it work?
A payment and deposit method in terms of online gambling refers to any particular method that a player can use to make deposits with the casino and to take out the payouts. There are several methods catering to the online casino space and each casino adheres to most of the methods or sticks to only a few of them.
Making deposits at an online casino is not rocket science, the process is quite simple and can be done with a few simple steps.
- Choose the casino site that you want to join as a player.
- You will find the option of ‘Cashier’. Upon clicking on it, you will get a new window consisting of the list of available deposit methods.
- Select any banking method that you are comfortable with and then enter your details.
- If you are comfortable with using a credit card then select the option of “Register new card” and enter your details.
- E-wallets are also integrated with most casino websites and you can easily deposit the amount after entering your details.
- Wire transfers are quite easy and you will only need to provide your bank details and click on ‘confirm’.
- Login in to the account and go to the cashier sections.
- Select the ‘casino cash out’ option and select your desired method.
- Fill out the necessary details regarding the billing and then click on ‘Withdraw’.
Top factors to consider when choosing casino payment methods
Choosing the best online casino money transfer method is not an easy task; you will have to keep many parameters in mind while doing so. Below we will share with you some of the essential factors to consider when choosing your payment method:
Ease of Payment
Have you been using certain online payment methods that you find easier than others? If yes, then check out with your online casino, if they use the particular method or not. You can assess their website to determine the methods they currently use. Check out and see that if you are comfortable with any other payment method. Make sure that you are well-versed with the method before making payments.
Not all payment methods are accessible to everyone. The question of accessibility of pay methods is not restricted to online gambling only. So, make sure that you choose the methods that are accessible for you.
Most of the payment methods catering to online payment are highly secured and are not easy to invade. Even with such excellent fortification of the payment systems, we hear about mishaps orchestrated by hackers. Online casinos have a large amount of money in transactions every day, making them a potential targeted prey of high-end hackers. Ensure that your casino complies with the gaming authorities’ security requirements along with an SSL certificate. The best and safest online casinos are the highest levels of SSL Certificate holders.
Top Online Casino Payment Methods 2020
As online payment became more popular, we saw the emergence of multiple companies providing payment gateway services. Both banks and non-banking systems provided payment systems working 24/7 and enabling customers to make transactions without hassle. It was only natural that online casino services adapted these systems to make money transfer comfortable for their customers. Let us look at the best online casino payment methods currently in use for dealing with online casinos.
Credit Card Casinos & Debit Card Casinos
Credit cards and debit cards are the most popular options among gamblers, especially the beginners who are new to the online platform.
Debit cards are financial instruments used to make payments using the money already deposited in the card holder’s bank account. The card is connected to the bank account, and each payment made from the card is deducted from the bank account directly. Debit cards’ capabilities are limited to the amount of money lying in the card holder’s account. Once the account user has emptied his bank account, no further transactions are possible. Debit cards restrict the holder from going into debt and help to keep expenses in check. There are numerous online casinos that accept Visa and other brands of debit cards.
Debit cards remove the requirement of carrying cash when going out to make purchases; it can act as a payment method and be used to withdraw money from ATMs.
There is a daily limit imposed upon debit cards that restricts spending money beyond a certain limit. Debit cards have a Special PIN that is required to make purchases.
Credit cards allow their holders to make purchases beyond the limit of their bank accounts by providing interest-based credit. Credit cardholders will have to pay back the amount along with interest back to the bank. Credit cards are a highly preferred method of online payment between players and online casinos. Being attached to reputed banking companies, they provide the utmost security to their customers.
Credit cards offer a low-interest rate if the bills are paid on a monthly basis. They also provide big sign up bonuses to the cardholders. Moreover, credit cards’ limits are on the card itself. That is, if the limit of the card is USD 5000, the cardholder cannot spend more than this amount.
An E-wallet is an instrument used for making online payment transactions without hassle. E-wallets have gained immense popularity in the online payment space and are a favorite among many, especially among the younger generation.
E-wallets are linked to the individual’s bank account and store money with itself while deducting the account directly. They are also one of the fastest online casino withdrawal methods.
Let us have a look at some of the most iconic E-wallets that are being used by casinos globally.
PayPal is one of the E-wallet domain pioneers and has been in existence for a long time. It helps in providing online transaction facilities between two parties in a highly secured environment. There are numerous online casinos that accept PayPal as a medium of payment, and with the ease of payment that it provides, it has become a favorite among players.
Some online casinos also identify themselves as PayPal online casinos as they use only PayPal for payments and deposits.
Like PayPal, Neteller is also an efficient E-wallet that makes online transactions convenient for various people. It has a brilliant reputation in the online gaming industry for its highly secured and timebound transaction mechanisms. Neteller also provides rewards to its customers for transactions.
There is a high number of online gamblers who use Neteller to make online deposits and payments. Neteller has made a remarkable place for itself in the gambling space because of its early association with live casinos.
Skrill is another leader in the gambling arena when it comes to online payments to live casinos. Skrill had been considered as a highly reliable E-wallet when it comes to gambling. It actually began as a payment gateway for gambling and then diversified into other sectors. It has become an internationally recognized E-wallet because of its secured payment system and easy to use interface.
Skrill is an excellent option for those who wish to step into the world of online casinos and need an efficient and secure payment system for deposits and withdrawals.
Offline Payment Systems
There are two major offline payment systems, and both of them cater to the online gambling space. Any old-school gambler who prefers offline payments can make use of these two methods.
Bank wire is an electronic payment system used by banks to send coded messages to make financial transactions. The messaging system is computerized and highly secured. Online casinos have been using bank wire systems since the beginning. A player needs to check out with his/her casino if they accept and make payment through bank wire.
An E-check is just like a paper check but uses technology to provide hassle-free, easy clearance of funds in a much short period. It has a highly secured mechanism that uses Cryptography, Encryption, a public key, and digital signatures. Using E-check for gambling transactions is quite easy, and most of the casinos accept payment through this instrument.
Just like any other sector, technology has had a great impact on financial services. It has made transfers of large amounts of money, both easy and secure. You can conclude a million-dollar transaction by just typing some details and clicking on the right button. These advances in technology have revolutionized the system of payments and deposits. Online gaming that involves a large amount of money transfer daily has fruitfully adapted the online payment system along with the advanced extensions made possible during the last two decades. Gamers should feel more than comfortable in using these wonders of technology for making online transactions.
Frequently Asked Questions
How to choose a reliable casino payment and deposit method?
- To choose a reliable payment and deposit method, the first parameter is online security, accessibility, and ease of making transactions.
How fast can I cash out my winnings?
- This will entirely depend upon the casino you are playing with as different casinos provide different cashout options.
Are deposit and withdrawal methods the same?
- Yes, methods that are used for making deposits and withdrawals are the same.
What is the safest withdrawal method?
- Bank wire transfer is the safest withdrawal method.
What is the fastest payment method for online casinos?
- E-wallets are generally considered as the fastest payment methods for online casinos.