Online Casino Payments
Whether you are an avid online gambler or just transitioned from brick and mortar casinos, you want to sign up to a casino that offers a variety of banking options. Luckily, users no longer need to queue in banking halls to deposit or withdraw cash thanks to online casino payment systems. Initially, players were sceptical about using online casino payment options, but this has changed over the years as it is now deemed the quickest, most trusted and easiest method of transferring funds. Tremendous improvements have been made over the years to make them accessible and trustworthy. The text provides a detailed overview of the most common online casino payments.
Credit Card and Debit Card Methods
It is the most popular casino payment method as it is readily available, convenient and flexible. Visa and MasterCard are most players’ favorite options as is the American Express, which requires the user to obtain approval before joining the club. The player needs to provide the relevant card details required on the site to make payments. Transactions require a charge of 0.8-1.3%. Here’s a detailed overview of each type and how to make payments on online casinos.
It is the most successful payment method in the world and has retained this status since its invention. This payment system has a VisaNet processing Network that ensures payments are safe, fast and reliable. The network also uses over 500 variables and fraud detection parameters before approving a transaction. Credit card casinos include the 888 casino, Las Vegas, and Jackpot City, among others.
It is the second biggest payment platform for making deposits and withdrawals. MasterCard uses cutting-edge technology that ensures transactions are processed safely for all the users. It has a six-step process that authenticates the merchant and the cardholder and ensures the payments are processed instantly.
The payment method is exclusive to US users. This is because of the strict and unclear legislation in the country regarding gambling activities. As such, players can only access it when using gambling sites that accept American players, such as Jackpot City.
Players who don’t want to exhaust their credit card funds opt for prepaid cards or debit cards to top up their online casino accounts. Debit cards are similar to credit cards since they are just as convenient and reliable. What’s more, you can take advantage of the overdraft option if you are also using a Visa. Services that provide the debit payment option include Maestro, Visa, Switch, and Laser.
A prepaid card operates like the credit card only that the user can only spend the amount of money deposited in his account. Additionally, this payment system supports the deposit but not the withdrawal of funds. The beauty of this platform is that it affords users the anonymity desired when depositing cash. Prepaid casinos like the Mansion that offer the service allow the use of PaySafeCard and Entropay.
Offline Payment Systems
The methods discussed so far relate to online payments. Players who don’t want to explore this mode of payment should try offline systems. The methods are more gruelling as the user needs to visit the bank or other financial institution to deposit or withdraw funds. It also takes a long time to transfer funds from the player’s bank account to the casino account. Examples of offline payment systems include:
Bank Wire Transfers: This method enables the user to transfer funds from one bank to another. The account holder chooses whether to execute the transaction via a local bank or a special cash office. Some bank wire casinos include casino.com, Eurogrand casino, and Winner casino, among others.
Western Union: Users can transfer money online or offline. The offline method allows you to transfer money by visiting the Western Union office and filling in forms. Also, players can transfer their bankroll to the phone for easier payment.
Echeck: It operates the same way as paper checks only that transactions are executed electronically. The 888 casino supports this mode of payment.
They have become the most popular methods in the digital world and offer the same safety and convenience provided via other modes of payment. E-wallet payment systems operate by facilitating payment by transferring funds from the user’s virtual wallet to his bankroll. The major selling point for this mode of payment is the fact that the user’s card information remains safe and secure. Some e-wallet casinos include Bet-at-home casino and 777 casino.
It has maintained a pretty vast client base since its inception hence, the most trusted e-wallet method by Europeans, North Americans and other customers around the world. Its rise to fame happened in 2002 after eBay purchased PayPal. This service has many advantages compared to its upcoming competitors, e.g., letting users keep their credit card details, convenience, and offering a money back guarantee. The company recently developed an app to make the service highly accessible to users. Making casino deposit using this service is pretty straightforward; simple select go to the cashier’s section, choose PayPal and the amount you want to deposit. You are redirected to your PayPal account where you provide the login details and the password then confirm the payment.
The payment is the most trusted e-wallet method when it comes to handling fees related to online casinos, poker rooms, and sports books. After its launch, it is believed to have handled more than 80% of online gambling activities. It is accepted in more than 200 countries and has set base in the British Isles. Neteller boasts the highest deposit limits; in fact, some online casinos have removed the cap.
Originally, it was called Moneybookers before changing name to Skrill. It is the most popular e-wallet method among UK operators and other online casino sites around the world. Skrill is regulated by the Financial Conduct Authority in the UK, which affirms its credibility to users. It also has a high deposit limit. Deposits reflect on your account instantly while withdrawals only take 24 hours. However, the service supports a few languages and does not provide a support platform.
This method is similar to other e-wallet services with the additional benefit of letting users withdraw using its prepaid debit card called EcoCard. Additionally, EcoPayz supports seven languages and users can transfer funds in 45 currencies.
Most people assume mobile payments can only be executed using credit cards and e-wallet apps. While it is true, players can now use their smartphones to deposit funds to their online accounts. Some casinos will offer the option ‘Pay by Mobile’ in the cashier section. Once you select it, you need to enter the amount you want to deposit and phone number for the transaction to go through. The option only allows depositing of funds and not withdrawals.
It has entered the mainstream market hence, used to execute casino payments even in online casinos. It is a decentralized payment system that enables users to complete a transaction using bitcoins. As such, if you don’t have disposable money to play games, you can deposit bitcoins to your casino account and play.