Payment Method Options for Online Casinos
Having a wide selection of payment method options is essential to a smooth online casino experience. Online payment safety used to be a real concern for players when online casinos initially started hitting their stride, but that is a thing of the past.
Nowadays the best online casinos payout to all their players provided you have used safe and reliable payment methods for deposit and withdrawal purposes.
Yet, “what are the best payment method options for online casinos?” is a question that may be in your mind.
The average online casino should offer you a healthy mix of credit cards, debit and prepaid cards, e-wallet and bank transfer options. This way you will always have something to work with.
Let’s take a look at the top 7 methods for depositing money at some of the best online casinos.
1. Credit and Debit Cards
Credit and debit cards have always been the primary payment method for online casino players. Due to certain US laws and regulations prohibiting payment processors from dealing with gambling companies, some of your credit/debit card deposits may fail to process.
However, depositing to off-shore licensed US online casinos should not be an issue in most cases.
The fees involved when depositing with credit/cards are usually minimal. Casinos will rarely charge you a credit card deposit fee, but your payment processor may subtract a symbolic amount between 0.5% to 1% of your deposit value.
Withdrawals to VISA, MasterCard and American Express may be unavailable if you’re playing from the US, and the money needs to reach your US bank account.
Everyone is familiar with Paypal as a payment method, but you might not realise it’s actually one of the most widely used and trusted ways to deposit at licensed casinos, with a reputation of serving customers for over two decades.
It is used daily for online transactions of every type, including to and from online casinos.
PayPal deposits are instant and usually incur minor fees that won’t significantly affect your deposit. Payouts to PayPal may be difficult if you are trying to withdraw to a US PayPal account.
The one downside to PayPal is that it’s not so frequently available across online casinos, particularly in the United States. However, when you do have it as an option, it’s as good a method as any.
Neteller is one of the best e-wallet options. Over its 15 years of experience, this e-wallet has earned the reputation of gamblers worldwide due to its simplicity and low cost of use.
Therefore, it is available at almost every Internet casino on the market, including most new US online casinos.
Neteller lets any user create an account for free and perform transactions with minor fees. You can upload funds to Neteller via your credit/debit cards, and withdraw funds to Neteller from online casinos with no fees and at record speeds.
Neteller users can order prepaid MasterCards, which they can use to withdraw funds via an atm. Alternatively, you can withdraw cash from your e-wallet to your bank account.
Neteller and Skrill go hand in hand. In fact, they are both owned by the same parent company.
Skrill works similar to Neteller in many ways. And even though Skrill is primarily used by UK residents, it is available to users worldwide.
Skrill also issues prepaid MasterCards which can be used just like any other debit card. Uploading funds to Skrill is available through many payment methods, and Skrill payouts from online casinos are both fast and hassle-free.
Unfortunately, Skrill is unavailable across US online casinos.
Paysafecard is a unique prepaid card which can be purchased at over 650,000+ outlets across the globe. You can buy prepaid cards with cash, which will determine the monetary of your prepaid card.
Then, you can use that card to make deposits to online casinos, but withdrawals to Paysafecard are not possible due to the way they operate. Paysafecard is one of the most hassle-free online casino payment methods.
Instadebit is an e-wallet that has been in operation since 2002. It is one of the primary e-wallet payment methods for Canadian players, which are free to play at most US online casinos.
Creating and using an Instadebit account is easy and straightforward. However, unlike most e-wallets, you cannot fund your Instadebit account via credit/debit cards.
Your online wallet will be linked directly to your bank account through which you can make deposits to Instadebit and withdrawals from your e-wallet to your account.
Cryptocurrencies are still met with a ton of scepticism by the majority of online casino players, but they are a safe and viable option as any.
In fact, cryptocurrencies are the safest banking method to use due to its anonymous transactions, which can be especially useful to USA players.
Transactions via cryptocurrencies such as Bitcoin or Etherum are almost-instant when It comes to deposits, and blazing fast in terms of payouts. They also come with little to no fees in both-way transactions.
However, every layman knows that Bitcoin can be a complex matter, but the fact of the matter is you don’t need an in-depth study of cryptocurrencies in order to use it.
Setting up a crypto-wallet is an easy process that won’t take you longer than 10 minutes. Then, you can exchange your real money for cryptocurrency, and vice-versa, meaning your casino payouts can easily turn to cash via any cryptocurrency.
Identity verification is a crucial requirement of any online casino due to security reasons. At most casinos, you will be required to verify your identity before you can request a payout.
This can be accomplished by sending photos or scanned copies of various relevant personal documents – depending on the casino in question.
We always recommend you verify your identity as soon as you create an online casino account to avoid waiting times when its time to withdraw your hard-earned cash.