Andrew O'Malley 12. December 2020 | UPDATED ON: 12. December 2020 If you are someone who enjoys playing casino games in an online environment, then you will likely have a lot of different casinos that you are considering using. The process of narrowing down these different sites can be difficult. However, one of the non-negotiables will be looking only at platforms that have the casino payment methods that suit your needs. Otherwise, you are wasting your time. This guide looks into the different casino payment options that are out there today for you to use. Check Out The Best Online Casinos Per Payment Method Neteller Casinos Read more Skrill Casinos Read more Bitcoin Casinos Read more Paysafecard Casinos Read more Trustly Casinos Read more Ethereum Casinos Read more EcoPayz Casinos Read more PayPal Casino Read more Boku Casinos Read more Instadebit Casinos Read more Credit and Debit Cards One of the most popular casino payment methods is using the likes of debit and credit cards. Most people will use these methods for most online purchases so it is only natural to use them for online casino transactions also. Here are some of the popular credit and debit card companies you can use: Visa/MasterCard/Maestro These are the staples that you will come across when an online casino is offering debit card or credit card payments. The likes of Visa cards and MasterCard are the most established providers of these types of payment services in the world, with top quality security in place. There may be certain banks that will not allow you to process payments to real money gambling sites using these cards, oftentimes this happens in the United States. However, for the most part, they can be used to instantly add funds and make withdrawals from your casino account with minimal fees. Pros: Fast deposits Usually free Widely available Cons: Some banks won’t process gambling transactions Slow withdrawals Amex An American Express card (Amex) is a popular option in America. There are certain online casinos that target players in the United States that will offer Amex as an option for adding and withdrawing funds. The payment system is pretty straightforward, but certain banks won’t process payments to online gambling platforms using Amex. Pros: Fast deposits Usually free Widely available Cons: Some banks won’t process gambling transactions Slow withdrawals Credit Cards The credit card option allows you to deposit funds to an account on credit, meaning you don’t have to have the funds in your possession at that time before depositing. Some regions, such as the UK, have banned the use of credit cards when gambling as they might contribute to problem gambling. However, they are commonly used elsewhere and will quickly process deposits, with most online gambling platforms not allowing credit card withdrawals. Pros: Fast deposits Usually free Allows you to play with credit Cons: Banned in the UK E-wallets & Digital wallets In recent years, digital wallets and e-wallets have become massively popular. They are a way you can easily store funds online and send quick payments. They also normally have a myriad of security features and are often the quickest way to withdraw funds from online casinos. Here are some of the most popular e-wallet payment methods: Neteller Neteller is an easy and secure way for you to add and withdraw funds for your online casino account. It has been around for many years and allows for free payments. The withdrawals can often process instantly, depending on the given operator. Pros: Fast transactions Minimal fees Easy to use Cons: Can’t get some welcome offers Skrill Skrill has been around since 2001, previously called Moneybookers. It serves more than 35 million customers around the world and is known for its safety standards. Payments are very quick when using this method with withdrawals also processing faster than most options. Pros: Fast transactions Minimal fees Easy to use Cons: Can’t get some casino bonuses PayPal PayPal is a very popular way to send and receive funds online. It is not as common as the likes of Neteller and Skrill among casino payment methods, but you will often come across it on certain platforms. There may be some fees attached depending on what transaction you are making, but the speeds tend to be very good for both deposits and payouts. Pros: Secure option Quick transactions Easy to use Cons: Not widely available EcoPayz EcoPayz is another popular e-wallet option that provides great flexibility. There are five different account options to choose from depending on your needs. There is also the option to get a prepaid card with your account. Both deposits and withdrawals with EcoPayz will also be pretty quick. Pros: Great security Many currencies supported Easy online payments Cons: A lot of limits Trustly Trustly is a secure way for you to add funds from your bank account to an online casino platform without having to take as much time as the likes of a traditional bank transfer. All you need to do is enter your relevant bank details and the payment will be processed instantly to your casino account. This may also be offered as a withdrawal option and is usually pretty fast also. Pros: Secure method Faster than wire transfer Easy to use Cons: Not available worldwide POLi POLi is an e-wallet option that is based in Australia and it is used mainly by online casinos in the likes of Australia and New Zealand. It works similar to using a prepaid card in terms of adding and withdrawing funds from an online casino account. Pros: Top-tier security No fees Easy to use Cons: Only available in New Zealand and Australia Bank Transfer One of the longest-running ways to transfer funds in an online environment is using a bank transfer. This will be the slowest option, after sending a cheque. However, it is also perhaps the most secure way to transfer your funds. Sometimes the bank or operator will charge a fee for conducting this transaction. The minimum required deposits and withdrawals will also usually be greater than other options when using a bank transfer. There are now some modern versions of bank transfers that speed up the process for you: InstaDebit InstaDebit is a method that is mainly seen with Canadian players, but it also sometimes available in other regions. It allows you to quickly and safely transfer funds from your bank account to a third-party platform, such as an online casino. The deposit and withdrawal times are similar to most e-wallets. Pros: High-security level Fast transactions Many currencies Cons: Mainly available in Canada Paysafecard Paysafecard is a type of online prepaid card that you can use to add funds to your casino account immediately. It has been around since 2000 and is a very reliable method. However, it is rarely available for withdrawals. Pros: Safe-deposit method Quick to use Simply process Cons: No withdrawals iDEAL While you can use iDEAL for making deposits it is not available to be used as a withdrawal option at online casinos. It does allow you to safely transfer funds from a bank account to a third-party platform. It is known for being a reliable method and is popular across Europe. Pros: Simple option Fast deposits Safe to use Cons: Not widely available Cryptocurrencies These days cryptocurrencies are becoming more and more popular all across the world. They are offering a new way to send payments, with many of these options being, fast, cheap, and efficient. There are even some online casinos that solely accept cryptocurrencies. Here are some of the options that online casinos are now starting to consider: Bitcoin Bitcoin is the most notable cryptocurrency in the world, having started off the whole revolution. This digital currency is offered with more and more casino operators as time goes on. There are even some Bitcoin casinos you will come across. Transactions will usually be instant for deposits and withdrawals, as well as being very cheap and having tiny minimum cash out requirements in a lot of cases. Pros: Fast transactions Minimal fee Great security Cons: Not widely available Other cryptocurrencies that are accepted by UK operators As well as Bitcoin, some operators are now accepting other types of cryptocurrencies. Some of the most common options include Ethereum, Ripple, Bitcoin Cash, and Litecoin These all work in a similar fashion, with the payments being almost instant when the operator allows, as well as being cheap and have low minimum transaction requirements. Pay by phone There are now some mobile payment options that are growing in popularity as casino payment methods. These allow you to quickly deposit and withdraw funds when you are on the go. Here are a couple of these types of options: Boku Boku allows you to add funds to your online casino account by adding the payment to your phone bill. This is a fast and secure way to deposit to your account. However, this is not a withdrawal option. Pros: No banking required Secure option Easy to use Cons: Strict limits PayForIt PayForIt also sees your online casino deposit getting charged to your phone bill. More and more online casinos are now offering this as a payment method, but it is currently not a withdrawal banking option. Pros: Easy to use Secure option No necessity for a bank Cons: No withdrawals Other popular online banking methods Finally, there are a handful of other casino payment methods that do not really fit into any other category, such as Citadel, GiroPay, digital vouchers, EcoCard, EntroPay, Interac, and Zimpler. One of the old school approaches is sending or requesting a check from an online casino. While you can use a physical check, there are now eCheck services on offer that can speed up the process. Another option is Western Union, which has been used for many years to transfer payments across the world. GEO restrictions There are certain types of transaction methods that are not available in certain regions. For example, there is a law in place that prevents people in the UK from using a credit card for gambling purposes. Therefore, you need to be aware of any such restrictions in your geographic region. Things to consider As well as the casino payment methods themselves, there are also some other things to consider when it comes to conducting a transaction on an online casino: Deposit times You want to have the funds you are depositing to be processed instantly to your online casino account. This means that you can get started betting straight away and not have to wait for the funds to hit your account. Most payment methods these days will see your deposits process instantly with traditional bank transfer usually being the sole exception. Withdrawal times Withdrawal times are a very important consideration, with online casinos varying massively in this regard. Some casino sites are known for processing withdrawals very quickly, while some will be very slow. There will usually be a pending period whereby the operator approves or denies your withdrawal request. Then the processing speeds will depend on the type of withdrawal methods online gamblers are using. E-wallets and cryptocurrency withdrawals usually process the quickest. Minimum deposit amounts If you are looking at transaction methods, there will be individual limits in place for minimum and maximum transactions. Some of these limits are imposed by the payment method company, but also by the given online casino. For smaller stakes online casino players, you will want to choose a payment method that has a low minimum deposit amount. Payout limits As well as deposit limits, the operator will often have a cap on how much you can withdraw win a single transaction, day, week, and month. There will also be different limits depending on the payment method. For example, a bank transfer is usually preferred by high rollers because it has very high payout limits, while some e-wallets only have smaller limits. Closed-loop policy There are certain payment methods that cannot be used for making deposits and withdrawals. One of these is usually Paysafecard. Therefore, you need to be aware of the available options when you are joining an online casino and make sure that you can also withdrawal using your preferred method and not just use it to make a deposit. Fees Most of the leading operators will not charge you fees for conducting transactions, but this is not always the case. You need to be fully aware of any and all fees. Certain payment methods also might carry fees, such as bank transfers, credit cards, and e-wallets. Make sure that you are fully aware of all of these relevant fees. Summary As you can see, there are plenty of different ways for you to add and withdraw funds for your online casino account. Each option will have its own pros and cons to consider. The experience will also vary from operator to operator in terms of the casino payment methods that are being offered. FAQs What is the fastest deposit method? Most of the payment methods that are offered by an online casino will see instant payment processing. The only ones that do not do so are the likes of bank transfers and checks. What is the fastest withdrawal method? This will vary depending on the given operator you are using. However, e-wallets such as Neteller and Skrill will usually process your funds the quickest. Cryptocurrencies are also becoming more popular and can also process withdrawals almost instantly. What is the cheapest transaction method? This will depend on what operator you are using. While some payment processors will charge some fees for transactions, many online casinos will absorb these costs. However, this is not always the case. Bank transfer usually are most associated with fees, as the financial institutions will normally charge a fee for conducting this transfer. What is the safest casino payment methods? Most of the major casino payment methods that are offered by licensed online casinos will be safe and secure. Historically, bank transfers are very secure. The likes of credit cards also offer a layer of protection in case anything goes wrong. E-wallets create a good divide between you and the online casino operator, as you are not exposing any sensitive banking information. What is the best payment method for high rollers? If you are going to be adding and withdrawing large sums of money through an online casino, then the bank transfer is usually the best option. This is due to the very high transaction limits that are normally in place. However, make sure that you are aware of any withdrawal limits that the operator itself has in place. About Andrew O'Malley Alex has been writing about the gambling industry for more than five years, covering everything from sports betting to casinos and poker. With the sector constantly evolving, he loves nothing better than staying up to date with the latest movers and shakers in the space. View all posts by Andrew O'Malley →
