Banking Methods Used in Online Casinos

  • Thursday, Oct 22, 2020

Unlike in land-based casinos where you can be limited to using cash to play games, online casinos allow you to fund your betting account in a variety of ways. This article will discuss some of those ways, and we have also listed top casinos on our website.

Categories of Casino Banking Options

As mentioned earlier, online casinos support several payment options. However, the features of these options differ from each other. Some payment options can only be used for depositing funds into your casino account while others can be used for both deposit and withdrawal.

  1. The categories of casino banking methods are Credit/Debit Cards, Cryptocurrencies and E-wallets.
  2. The features of each payment method differ.

There are a few things that determine a good casino payment method, and these are the speed of processing, security and processing charges. Besides that, some payment methods are restricted to certain countries. There are three main categories of banking methods, which are Credit/Debit Cards, Cryptocurrencies and E-wallets.

Credit/Debit Cards Banking Methods

Credit/Debit Cards are the most popular banking methods used in online casinos. They are safe and easy to use, and they come in different types. Some of the popular Debit/Credit cards are Mastercard, Visa, Visa Electron, Maestro, American Express and Prepaid cards such as Entropayz and Paysafecard.

Top casinos use PCI-DSS to ensure that your details and money are safe. Nevertheless, we suggest that you should have a separate credit/debit card for gambling activities. This will enhance your safety even further, allowing you to enjoy online casino gambling with a peace of mind.

Cryptocurrency Payment Method

The use of cryptocurrency for transactions is still quite new. However, there is an increase in the number of online casinos accepting cryptocurrency as part of their payment options. The good thing about using cryptocurrency as a payment option is that it offers absolute anonymity.

One thing you need to know if you are considering using cryptocurrencies as a payment option is that their value is highly volatile. This means that the market fluctuates at any time and can affect its value. Popular cryptocurrencies are Bitcoin, Litecoin and Etherium.

E-Wallets Payment Methods

E-wallet is another very popular payment method accepted by many online casinos. They are usually a standalone platform that can be used to send or receive money. The good thing about e-wallet is that you can easily send money to your wallet via credit/debit cards.

  • E-Wallet payments are usually processed instantly.
  • You may be required to pay processing fees when using some e-wallet payment methods

Besides that, transactions performed using e-Wallet are usually processed instantly. Apart from that, they can hold a lot of money which makes them perfect to use for withdrawals. Some of the popular e-wallets accepted by online casinos are Skrill, Paypal, Neteller, InstaDebit and EcoPayz.

Other Payment Methods

Apart from the payment methods mentioned above, online casinos also accept other payment methods such as bank transfers wire transfer, cash payments and cheques. Some casinos also accept payment by phone payment options such as Boku. This type of payment option allows you to deposit via your phone bill.

One essential thing you should also consider before using a payment option at any casino is the casino license. Besides that, check if the casino website is secured. If the prefix is HTTPS, then it means the casino is using SSL technology to secure its website.