The possibility to deposit money with a casino in a manner that is secure, safe and fast is a feature important to novices and seasoned players alike. Nowadays, gambling sites strive to offer as many casino depositing methods as possible in an effort to cater to the needs of different players.
Casino Payment Methods
Best Casino Payment Options
The rise of internet casinos two decades ago spurred the development of online banking, giving players a vast choice of payment processors. Despite the exponential growth of banking options, one thing remained the top priority: the security of online casino banking.
On this page, we explore the most widely used and trustworthy payment providers, in an effort to keep your casino experience as safe and secure as possible.
Available in Sweden, Finland, Denmark, and Spain, Trustly is an online payment processing service. If you’re a registered player at any Trustly casino, you can make a casino deposit directly from your bank account. Trustly facilitates transactions between your bank and your casino account, giving an extra layer of security and convenience with no fees, pending times, or verification delays.
The world’s largest and most well known e-wallet service, PayPal is estimated to service around 100 million customers. PayPal lets users transfer money to and from other accounts, including bank accounts, without requiring users to disclose personal and financial information. PayPal is offered as a deposit method at most casino sites, however, only the most prominent operators allow PayPal withdrawals.
One of the leading debit and credit card providers, Mastercard remains one of the most widely used banking options for casino players. Most casinos accept Mastercard for deposits and withdrawals, offering a high level of convenience, security and dependability.
Types of Casino Payment Methods
Making sure that the casino accepts your preferred payment gateway is one of the first things to check before joining a casino site. Here’s an exhaustive list of different deposit method types offered by AskGamblers online casinos.
Credit Card Payments
Arguably the most convenient deposit method, credit and debit cards are ubiquitously available at every casino site. Visa, Mastercard, Maestro, or American Express, you will find cards issued by these financial service providers at most casinos on the internet. Using a credit or debit card is straightforward: punters just need to enter their card details on the casino’s checkout page and make a deposit. Also, credit cards allow you to cash out and withdraw your winnings, removing the need for an alternative payout method.
e-Wallets or electronic wallets are designed with customer security in focus. Many players choose e-Wallets due to the fact that these gambling payment services don’t require them to connect their bank accounts with the casino, keeping their bank details secure and not disclosing them to the casino. To use an e-wallet, you must transfer the funds onto the account and deposit and withdraw at your convenience. Some of the most widely used e-wallets are Neteller, Skrill (both part of the Paysafe Group), PayPal, Payz (formerly ecoPayz), MuchBetter, and numerous others.
Bank Transfer Payments
Bank or wire transfers are an online casino banking option that works by letting you transfer funds from your bank account directly to the casino’s bank account, circumventing credit cards. When using this payment method, you still need to share your banking info with the casino, but you can rest assured your data is protected by the bank and your money is safe. Wire transfer is one of the most straightforward casino payment providers, although it comes with a downside: bank transfers are known to take a long time, much longer than e-Wallets or credit card transactions.
When it comes to anonymity, cryptocurrency deposits take the cake. Also, crypto transactions are among the fastest and cheapest as they involve no processing fees in most cases. Among cryptos, Bitcoin and Ethereum take the top spots among the most popular cryptocurrencies, allowing you to retain anonymity while playing with full transparency. In recent years, cryptocurrencies have taken the world of iGaming by storm, spurring the rise of crypto casinos, which specialise in crypto deposits and withdrawals, offering a range of different virtual currencies.
How to Choose the Best Payment Method
Once you get past the gambling licence and territorial availability of an online casino, gambling payment methods are the next on the list of crucial elements of casino experience for most gamblers. Operators pay a lot of attention to casino deposits offered to their customers, and for a reason: the longer the list of deposit options, the wider players base they can attract.
Apart from internationally recognised payment methods like credit cards and e-Wallets, casino operators may also set up bespoke integrations with financial services providers.
Either way, you should ensure that you follow a set of critical criteria when picking your next best casino payment method:
Availability at Online Casino
First and foremost, you need to check if your preferred payment method is available at the casino. AskGamblers casino reviews offer a comprehensive overview of all payment methods available at the casino, so a quick check could save you tons of time. Also, remember that diversity is important: if you see a casino offering dozens of payment methods for gambling, you will know they take their job seriously.
Deposit and Withdrawal Limits
The aspect of deposit and withdrawal limits is another important factor to consider, for high-rollers in particular. Some online casino banking methods will have their limits prescribed by the provider; others will be more lenient, allowing the casino to set its own limits. On most sites, casino deposits will have a limit of ₤/€5,000 (most credit cards and e-wallets). However, some payments for gambling will limit your deposits to only ₤/€30 (e.g. Boku). The highest deposit limits are allowed for bank transfers, with some wire systems allowing one-off deposits of up to ₤/€50,000.
When it comes to withdrawal limits, they tend to reflect the amounts allowed for deposits; in other words, Trustly will allow you to withdraw the same amount. Remember that when withdrawals are concerned, you must take into account the pending times, so try and stick to fast withdrawal casinos if you can.
The aspect of casino bonus eligibility will also guide your choice of the best casino payment methods. The reason behind is that not all casino offers will be eligible to claim with any casino deposit method. Take PayPal for instance: this is one of the most popular payment methods at online casinos, but some casinos will now allow you to claim a welcome offer if you deposited using PayPal.
This is especially true for UK casinos, where the regulations specify the bonus terms and conditions to the smallest detail, barring you from activating casino promotions when using certain options to credit your casino account.
Security is the first thing to consider when picking a payment company. Security of a particular financial service provider concerns the measures aimed at protecting a customer’s personal and financial information, including encryption, fraud protection, etc.
Of course, the best casino payment methods will feature the highest level of security, but pay attention to the differences: for example, when using e-Wallets, you won’t be required to share your info with the casino, but you might face other restrictions (e.g. fees, deposit limits, etc.). On the other hand, wire transfers will let you transfer more cash at once, but you will have to share bank details with the casino, exposing them to a third party.