Online Casino Payment Methods
December 21, 2020
Gone are the days where the only way to deposit and withdraw from your casino accounts is through bank accounts as online casinos now accept a variety of payment methods. Over the past decade, we have seen a number of new e-wallet providers emerge as well as cryptocurrencies and other payment options which have been adopted by online casinos and betting sites.
In this article, we’ll be taking a look at the most popular online casino payment methods currently available as we head into 2021.
PayPal has grown to become one of the most popular ways to send and receive money online due to its ease of use and wide availability.
Several online casinos in the UK, Ireland, Italy, Austria, Sweden, Denmark and Finland now accept PayPal as a payment method which allows players to deposit easily and withdraw quicker than when withdrawing directly to a bank account.
Skrill is an online e-wallet which was launched under its original name ‘Moneybookers’ back in 2001. With headquarters in London, Skrill has a huge UK customer base and is a popular banking choice for many online casino players.
Skrill allows players to transfer funds to and from casinos within hours rather than days which gives customers quicker access to their funds.
Neteller is part of the Paysafe Group and is another online e-wallet which is considered a secure, fast and convenient way for players to deposit and withdraw from their online casino accounts.
Neteller launched in 1999 and purchased rival e-wallet provider Skrill for a reported fee of $1.1 billion in 2015 which made it one of the world’s largest online payment companies.
Visa & Mastercard
Visa and Mastercard are the most widely used payment methods in the world. Since May 2019, UK gambling sites are no longer allowed to accept credit cards but Visa & Mastercard debit card transactions remain the most popular way to transfer funds to and from online casinos.
They’re the most popular choice as money is taken from and deposited directly into bank accounts allowing those funds to be used elsewhere.
The disadvantage of using Visa and Mastercard for withdrawals is that they generally take longer to reach your account than e-wallet withdrawals. However, many online casinos now offer Visa Fast Funds which allows funds to reach bank accounts within a matter of hours if not almost instantly.
Bitcoin & Crypto
Since Bitcoin hit the mainstream media due to its large price increase throughout 2017, many tech-savvy individuals have purchased various cryptocurrencies. Although these cryptos may not yet be widely used for purchases, many online casinos accept them as banking methods.
Some examples of popular cryptocurrencies which can be used at online casinos include Bitcoin, Etherium, Litecoin, BitcoinCash, Dogecoin, Tron, Dash and others.
Paysafecard is different to e-wallet providers such as Neteller and Skrill as it is essentially a pre-paid voucher.
The main attraction to Paysafecards for use at online casinos is that no registration is required to purchase one. Paysafecard vouchers can be purchased at any of the 84,000+ retail shops throughout Europe and can also be topped up online if using a Paysafecard Mastercard.
Paysafecard vouchers are used for deposits only and funds cannot be transferred back onto the card. Therefore, players wishing to use a Paysafecard for deposits, will need to have another method available for withdrawals.
Bank Transfer is a widely available banking method at online casinos and betting sites although it is not used as much as some other methods.
Bank transfers to online casinos are made via online banking with your bank account and no card details are required.
You can both deposit and withdraw from online casinos using Bank Transfers but many players opt to use debit/credit cards as an alternative due to Bank Transfers often taking several days to transfer funds in either direction.
At most online casinos, there are several options to choose from when it comes to depositing and withdrawing from your account. If you are planning on using a method which generally isn’t widely available, it is always best to check and make sure that the casino you are planning to play at accepts your preferred method before registering.
As always, make sure that the casino you play at is safe, secure and holds the relevant gambling licenses in your country to ensure that your funds are as safe as they possibly can be.