Online Casino Payment Methods for Deposits and Withdrawals

A common question new players ask relates to how to go about depositing funds into their player account and conversely how to withdraw them. Further still, there are often connected questions, such as what is the best payment method, is the casino deposit safe, how long does the deposit or withdrawal take and if there are any fees. These factors are influenced by the payment method you use, and it is important that you choose a method that suits your needs best, and that is most convenient for you. After all, you want to have a hassle-free experience when depositing and withdrawing at an online casino.

Payment deposit methods into player accounts:

There are a number of ways to deposit funds into you player account. For starters there are debit cards as well as credit cards, electronic wallets (e-wallets), vouchers, and bank transfers to name a few. Ultimately, the decision is a matter of your own personal preference but you should remember that your choice may influence the speed at which the transaction is effected, determine the limitations for depositing and withdrawing funds and determine the amount of fees if any that you incur.

The increase in ecommerce has also seen an increase in the incidence of fraud and other illegal activities. This could include but is not limited to credit card fraud, and identity theft. You should always feel comfortable before entering your payment details online and that means taking certain precautions to minimise the risk. You should first ensure that your online casino payment is secure and to do this you should ensure that the padlock symbol appears before the website address. Clicking on the padlock allows you view details that can help you to check that the seller is who they claim to be. Another useful thing to remember is to ensure that the website starts with 'https'. This indicates that the session web browser and the web server is encrypted. All reputable online casino operators use encryption technologies to protect your personal data.

Below we highlight some of the more common methods of making payments and attempt to provide a high level list of the advantages and disadvantages.

Credit and debit cards

Credit cards and debit cards are possibly the most common methods of depositing funds into casino player accounts. They offer quick payments and in some cases withdrawals are also possible. Some drawbacks are the risk of fraud or stolen credit cards.

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Most credit cards are universally recognised and accepted as a valid form of payment
Quick payment processing
Easy and convenient to use
Credit cards often come with fraud protection
Fees can incur
Risk of credit card fraud
Withdrawals of player funds may not always be possible
Withdrawals are slow
Irresponsible use of easy credit can lead to financial difficulties

Mobile Phone Payments

A mobile payment provider allows users to make transfers that are charged to their phone balance or bill. These payments usually have transaction limits, but they are a good alternative for users who don't have a card.

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Payments are processed instantly
Secure payments through use of unique transaction numbers
Good for cost control
Maximum transfer limits is usually limited to the lower end
Fees may apply

Electronic wallets (e-wallets)

An e-wallet, or digital wallet, is a virtual account which allows you to link credit and debit cards and then pay online without using the card directly. All you do is pre-load the funds onto your e-wallet and make payments in place of a debit or credit card. These transfers are secure using encryption technology.

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Faster and safer to use as credit/debit card details are entered
Smart phone apps are often available
Good for cost control and prevention of overspending
Most e-wallets need to be loaded with money prior to being used
Providers may charge transfer fees

Voucher payments

Vouchers can be purchased in stores and redeemed at online casino websites. They are a popular method of depositing funds.

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Alternative to credit cards
Good method of monitoring and controlling your spending
Deposits into casino player accounts are instantaneous
Safe alternative, as no personal financial details are required
Withdrawals are not possible with this method
Voucher needs to be purchased before it can be used

Bank transfers and instant banking methods

This is one of the least common ways of transferring funds, as it can be one of the slowest methods of depositing funds into a casino player account. It can take several days before the amount is credited, though it may be possible to perform instantaneous bank transfers with certain payment providers.

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Instant deposits may be possible
good method of controlling and monitoring your spending
deposits and withdrawals are possible
subject to higher fees on transfers
Withdrawals from casinos take a few days

Crypto Currencies

Crypto currencies are digital virtual currencies that are not tied to federal reserves or other fiat currencies. These highly volatile currencies are an alternative for players who don't have many other payment options, or if they just wish to gamble with cryptos. There are now hundreds of crypto currencies available, the most commonly accepted currencies in casinos are Bitcoin, Litecoin, Dash, Ethereum or Bitcoin Cash.

Quick transfers
Deposits and withdrawals may be possible
Fees for crypto exchanges apply
Fees for crypto exchanges apply
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