Choosing an online casino has never been easier, but how do you know if a certain casino is safe enough? — Look at its payment options page.
A Guide to Best Casino Payment Methods
Although Internet revolutionized gambling by bringing casinos into our homes, there are still things that most gamblers are concerned about.
Gambling is no novelty to humans — it existed ever since ancient times. Historians believe that card games originated from China, as well as that the ancestor to Roulette existed in Greek and Roman times. Fast forward to the 20th century, and most of these gambling games found their way to Europe and the New World. Although Europe has a much more lenient stance towards gambling than the USA, nations on both sides of the pond adore betting.
To gamble means to have fun — our ancestors created this activity only as a hobby. Although, it was a somewhat risky pastime that would give you an adrenaline rush, and it remained as such.
The New Millenium
As of 2000s, most casinos moved online in order to cater to the ever demanding audience. The number of gamblers who don’t want to bother coming to physical casinos is huge. The online world never sleeps, so to fight in this new market, casinos needed to become available 24/7 — and so they did. After a while, betting at any time of the day wasn’t enough — people demanded to be serviced at any time of both day and night. And that’s how casinos started hiring customer service agents who work 24/7.
Naturally, with the new set of gambling rules came the new payment methods. Back in the early ages of the Internet, one had to physically go to a bank and deposit a desirable amount of money. This wasn’t that different from actually going to a brick-and-mortar establishment, so online casinos were still pointless at that time. However, in the early 2000s, many e-wallet options started to emerge, and they were truly a revolution. They made payments easier, more secure, and faster — everything an average consumer needed. Additionally, credit and debit cards started witnessing a great increase in commercial use. This meant that the payment procedures needed to evolve. Today, there are more e-wallets than you can count, and not to mention very secure banking cards to rely on.
Before I start elaborating on all the payment methods you can use, it’s essential that you know what’s safe and what isn’t. Moreover, you can often determine the legitimacy of a casino solely by observing the available payment methods and payout periods. A lot of online casinos that were labeled rogue offer over 15 deposit methods but only 2–3 withdrawal options. Additionally, the payout period is often longer than a month, or even two. So before you start gambling at an online casino, make sure to check if it offers an online payment method of your preference.
Some casinos will offer e-wallets that nobody really ever heard of or even prepaid cards that most people are unfamiliar with. This is often a trap — there are cases where rogue casinos created their own fake payment systems to steal people’s money. That’s why you always need to perform thorough research before depositing your money.
You can choose from a plethora of payment methods when trying to make a deposit or withdraw your money from a casino. Online banking is exceptionally developed right now.
Credit Cards, Debit Cards, and Prepaid Cards
- American Express
- Paysafe Card
- Entro Pay
- Pay Near Me
- My Citadel
- Wire Transfer
- Insta Debit
As you can see, there are plenty of methods you can choose from, and each one of them is good. It all comes down to what you like and whom you trust the most.
Which Method Should I Choose?
Let’s break it all down — I will explain each method so you can properly decide which one suits your needs the most.
Credit Cards vs Debit Cards
Gamblers worldwide love both of these options — cards are fast and safe. But what is the difference between credit cards and debit cards? Mostly in additional fees.
With debit cards, you’re in complete control of your finances. You put the money into your account and make a deposit accordingly. In most of the cases, there will be no additional fees from the bank or the casino.
On the other hand, credit cards are a bit different — they’re considered a loan facility. If you deposit with a credit card, those funds are basically borrowed from your bank. Additionally, if you don’t pay the money back in time, there will be additional fees. And just like with debit cards, the transfers are nearly instant — but most casinos will charge fees based on which provider you use.
Most of the online gamblers prefer Mastercard, Visa, and American Express, as they are universally available. Most of the countries will accept at least one of the three options.
Many people believe that by using an e-wallet, they are protecting their account information. This is more or less true. If you try to deposit with an e-wallet, the casino won’t ask for your bank account details. For players who prefer keeping their privacy intact, using e-wallets is probably a great idea.
In addition, some of the biggest online casinos accept Paypal — it is very safe and incredibly fast. Not to mention that Paypal’s reputation precedes it. Players love seeing this payment method in any casino, so it can only be an advantage for the management. Going for Paypal casinos is always a safe choice.
Neteller might not be as popular as Paypal, but it is one of the best in the gambling industry. Ordinary people may not know about it, but ask any gambler about Neteller, and they will know. If a casino doesn’t have Paypal, this is the perfect alternative.
Eco Card is widely popular in Canada and Europe. Currently, it is making a breakthrough in the USA, so if you’re an American trying to make a deposit, don’t be afraid to test this method.
Ecopayz is generally the most popular in Canada. The best thing about this e-wallet is that it accepts over 45 different currencies.
PayNearMe is an e-wallet you’re probably not used to. It’s different from others because you can fund your account by going to a local store that supports this brand.
MyCitadel used to be an amazing e-wallet option, however, it is not accepting new users as of this year. Perhaps this will change in the future — we’ll have to wait and see.
PayForIt lets you make a deposit by entering your phone number, so you won’t even have to put any login details.
Ukash is massively popular in the UK. If the British trust it, then everyone should probably do the same. After all, the UK is the #1 country in the world when it comes to gambling.
Wire Transfer is often the best option for large amounts of money. Although, the main reason why most American players dislike this method is because it can be quite lengthy at times. Not to mention how it always comes with additional fees.
eCheck is popular in both Canada and the USA. It’s a traditional but a safe method to deposit money with should you bet in an online casino. Canadians seem to be more fond of it though — this is probably because gambling laws in Canada are not as strict.
InstaDebit is also one of Canada’s favorites, while iDeal is a great alternative for the European players. Most of the European casinos will gladly offer this option, as it’s quite fast and secure.
Bitcoin is the youngest payment method to join the group. It is virtual but completely legal. Additionally, it works on a peer-to-peer based system. You should definitely be on the lookout regarding this method, as the payouts are almost instant. Also, if a casino is incapable of paying you out in Bitcoins relatively quickly, it’s probably rogue. The biggest advantages of this method are the transaction speeds and that there are no additional fees applied.
True Power Lies in Wisdom
The more you know, the safer you are. Now that you’re aware of everything you need to know about all these methods, you’re safe to go. Watch out for online casinos that offer unfamiliar payment methods. If you’ve never heard of it, make sure to first research it online and check if it can be trusted.
You can find a lot of watchdog portals all over the Internet. These websites rate online casinos, and they will always rate their payment methods as well. These portals also allow players to leave their comments and personal reviews about a casino. So try to learn from other players’ mistakes — these fellow gamblers only want to help you not to waste your money.
Now that you’re all set, you can find a good casino and make a deposit. Just make sure to stay responsible, and best of luck!