Playing on online casinos is engaging, energetic and filled with a lot of fun. For that reason, your casino payment methods shouldn’t slow you down in your progression of that. You should be entitled to speedy and instantly secure methods to allow you to be the casino royalty that you deserve. Today’s day and age has allowed for multiple methods of payment to be developed and allow you to sail off into the sunset with your winnings.
With all that being said, it is very normal to feel overwhelmed by all the options you have, especially since you may have never even heard of Entropay for example, so you can leave it to us to compile all the information that you actually need in one document to help you on your way to seizing all the money casinos have to offer you! Read more to find out the best casino payment methods out there for you and your gambling.
Credit Cards and Banking related Cards
Banking cards are a very convenient method to use within your everyday gaming and gambling career, because they provide to you the option to instantly deposit within a casino account, by simply inputting the required details to and from the cards itself. The transaction itself will follow pursuit very similarly to a shopping online kind of purchase, meaning you should find this process very familiar and not difficult to comprehend at all. All your details will be required to be filled out within the form that comes your way on the casino page.
Common variables of credit and other related banking cards include Visa Electron, Visa, Maestro, American Express and Mastercards.
What are the advantages of using card payments?
Usually, some methods can limit your deposit values i.e. PayForIt casinos, however with debit cards and other cards, your banking potentials are quite large, and you don’t need to deposit in a series of transactions. It can all happen in one go!
Your credit limits can be optionally increased as time goes by if you are making consistent and sustained payments to and from a casino. Meaning your original limits can be altered and worked on, the more you are active within the gambling community!
Usually, this method is very popular and common, you’ll most likely find this method as an option to carry out your future and pending casino transactions. It’s definitely a flexible option for you to use.
Generally speaking, not only is this method very flexible with its multipurpose functions card transactions, it also gives its users guaranteed speedy payouts and cash withdrawals – the response time between casino and bank is usually within 24 hours or a maximum of 2-3 days, yet it’s usually the shorter timed former.
The process itself is very easy to follow through, with the simplicity of entering your details and hitting the payment button. It’s very much like any other transaction that you carry out online, like online shopping etc. You also have fully encrypted payments meaning your details are safe from any unwanted third parties.
What are the disadvantages of using card payments?
Some banks will see you making cash advance transactions if using a credit card. This means that your payments will be put on a higher tear of borrowing, therefore this possibly is not the option you want to take if you are thinking long term payments.
Credit cards present opportunity for identity theft as their security protocols differ to debit cards. Usually if the casino is top-notch for its security, then this isn’t too much of an issue and you can pass this matter completely.
Payments can get out of hand
Due to the cash being purely credit, you wouldn’t need to pay for things until later. Therefore, for that reason, it is usually recommended you set out a bankroll plan or a financing plan before you gamble in case things get too carried away and you receive a bill later that isn’t achievable whatsoever.
Interest with credit cards
The interest that racks up with your credit card bill can be excessive if you pay it sooner then later. Definitely take this into consideration, before racking up large sums on your card.
Not everyone accepts your credit card
Credit card transactions will depend on your location first and foremost, therefore for that reason, it can be usual to be declined if you are purchasing such dramatic sums of money abroad. Banks may prohibit it and it is advised to do further research within whoever you give your customers too.
Digital and E-wallets
Digital wallets are very much virtual and accessed online. These are very popular when it comes to online gambling, primarily due to allowing its users to send money transactions back forth at speedy rates without the need to store any sensitive information within the system. It’s cut free from any of details being stored by third parties, should there ever be a breach in security within the sites themselves that you gamble with. The online casino wallet will never directly ‘see’ where the funds are coming from and how they were able to be situated within the casino – that’s the beauty of it!
How does the system work?
This payment method would require you to open a digital wallet and link your banking directly to the wallet to allow for transfer directly of the money you wish to play with . This money is stored until you wish to play with it.
Depending on your E-wallet option, you may need to pay a fee for the incoming and outgoing transactions from the online wallet itself. That is something you will need to research further within your terms and conditions of the E-wallet provider. The biggest examples out there that play a big role within online casinos and the best casino payment methods out there include Neteller, Paysafecard, Skrill and PayPal.
What are the Advantages of Digital E-wallets?
Your payments will always be encrypted, and no card details can be revealed to any of the casinos that you make a transaction with. All that they will have access to is the email that you joined with and that will be their method in obtaining the payment for depositing fees.
The process of making a transaction doesn’t involve any long card numbers or any traditional long online forms that you need to fill out. All you need is the digital wallets email address entered as the payment option and you are very much good to go! The process of receiving your cash withdrawal is so much faster than card payments themselves meaning you won’t have to wait as long to get credited your winnings or deposit within a casino system.
What are the disadvantages to Digital E-wallets?
The fees that come with making international payments can be deducted from whatever you want to deposit or take from an online casino. If the one you gamble with, isn’t based within your location, the costs will include overseas transfers. Therefore, expect to see around 2-6% taken off whatever you are moving to and from. So maybe if you are in doubt of how much you are actually working with (amount wise) work out the maximum cost for the fee and add it onto your payment, to prevent you underpaying and having to make another transaction, which will cost you more money overall.
E-wallet transaction fees
Online wallets will charge you for every transaction that you make using the wallet. It makes sense as the online wallet will need to make a profit and income from their services so a fee can be more than expected for sure.
Prepaid Cards and Instant Payments
Prepaid card services function just like a debit card would do – However, their funds are not sourced back to any banks or higher financing syste -, they’re present within the card. Once you use all the money on the card, that card is pretty much empty and of no use until you top it up again.
Instant payments, on the other hand, are the third parties – or the ‘messenger’ – between your bank and the casino payments. They allow you to transfer money without having to share any details that deem your finances sensitive. This allows you to keep a degree of privacy, which is why so many people use instant payments and are very fond of using them still. Examples with this service include Click and Buy, Click2Pay and iDebit.
What are the advantages of using prepaid cards and instant payments?
Since the process is limited to accessing alternative funds from your bank, for example, this method is great for debt control and limiting how much you want to spend on an online casino. It’s a great measure if you really want to be strict with yourself and your bankroll. Once the money is gone, so is your gaming activity.
Limitation to fraud
Obviously, due to not being linked to any form of bank account or anything like that, this method really can prevent fraud. Even if it is compromised, any parties would only have access to the funds on there – as there is a limit and that is all you have to lose money-wise. It’s a great payment method to use if you are trying to protect yourself from potential financial scheming etc.
Whatever you decide to deposit within casinos will be instantly done so. This means there are no lagging or long waiting times to start playing on the online casino of your choice. As soon as you press to confirm the payment, it will be instantly credited to your account.
What are the disadvantages of using prepaid cards and instant payments?
No cash withdrawals
Using the prepaid cash option is great for making payments, however, it is not the same for receiving payments. You cannot transfer the money back once you credit your prepaid card. That money will be used as a voucher. Therefore, you need to plan your finances before making the commitment to depositing cash on it.
Direct Bank Transfers
This method will require no parties in between to make your payments. They are moved directly from your bank account and credited immediately into your casino. This can either be presented to you via two methods- Bank wires and instant bank transfers.
Bank wires will require the sender to go into a branch or can be done via online banking, using the correct details from the casino such as sort codes etc to bank with, in addition to a certain degree of banking clearances and checks. Instant banking, however, is all in the name. This method allows you to make an instant cash transfer to anywhere that your transfer details state.
What are the advantages of direct bank transfers?
Security checks take place within a bank wire, to ensure that your cash is being sent to a secure and guaranteed place. Meaning you’ll have the assurance that your payments will always be declined if the bank does not find the necessary banking security protocols are being met.
This can sometimes be a good thing because then your payments can be instant. Depending on the time of year and demand on the services of the middleman payments, such as e-wallets, for example, this can speed up the process of the payments of your choice.
What are the disadvantages of direct bank transfers?
Time lags on bank clearances
Bank clearances can take a while which can delay your casino gaming as you wait for the deposit to get to your casino wallet. You may want a slightly faster way of depositing your funds into your account.
Because you’ll be exposing your sensitive details of your bank directly to the casinos you gamble with, this can initially make your information very much at stake if the casinos you gamble with are not 100% secure and trustworthy. We recommend that if you choose to gamble and use bank transfers as your means to fund your account, make sure you select a casino from one of the many tested and reviewed options by us. That will guarantee you the maximum security and safety that you deserve!
Pay by Phone
Pay by phone casino deposit options are becoming increasingly popular to use in the aid of depositing cash amounts within a casino system. This method essentially is a credited bill for your casino gaming pursuits, which rack up on top of your monthly phone bill. It is a really great option for people who want to try an alternative method of payment that doesn’t involve anything digital, like the E-wallets. Examples of this kind of platform is Boku and the PayForIt service that can be added on from your network provider.
What are the advantages of using pay by phone?
No details are exchanged
The processes of making a payment within the casino platform will be directly received from the bill of your mobile phone. The amount you wish to deposit in the casino of choice will simply be credited above whatever you already owe to your network providers, or if you are using a phone that uses the pay as you go, then this will be subtracted from your mobile phone credit every time you make a deposit.
No banking information is accessed or transferred at all between these two points in making your deposit. Your bank isn’t involved at all meaning your details will never ever be stored or viewed online.
You can limit your spending
There is a cap that pre-exist within PayForIt options. Your deposits cannot exceed the pre-set amount of £30 – this could be a really good method to control your spending within online casinos. Once that credit has been used, you will need to wait until the next day to deposit more. You cannot deposit more than once within a day. If you should so wish to access a greater deposit fee, then you will need to contact your networker directly and see if they can raise your credit limits and overall monthly bill charges. This is because the whole process operates on a contract, if it’s a monthly bill, they will need to make amendments to contracts to meet your needs in the process.
Verification of identity SMS
Before you can even deposit into the system, you will need to verify the requests of payment via your mobile phone. All the payments are subject to a two-factor authentication, meaning you’ll need to insert the PayForIt code that you receive in the text message and enter it on the online casino to verify and accept your payment within your online wallet. Therefore, all payments that go into your online casino account are completely monitored by you and you alone.
What are the disadvantages of pay by phone?
Capping of deposits
If you are a serial gaming enthusiast, the cap that comes with using PayForIt may discourage you from using it. There’s a £30 maximum daily allowance, which means that if you use casinos as your line of career, or have a huge bankroll limit to spend, this could definitely slow down your performance and winning potential. They often say, the more you stake within a game, the higher the chance you can make in winnings. Therefore, this definitely will not be suited to intermediate and professional players. It is more convenient for players new to online casinos.
Bitcoin payments are becoming increasingly common as a form of payment within everyday gambling – especially live casinos. It’s used mainly for payments that involve online and digital platforms. The key feature of this method is that it’s decentralised – you’ll never need to verifiy your identity as it isn’t a government localised controller- you can keep a degree of privacy within your gambling exploits. There are even casinos online that purely handle all transactions in bitcoin payments!
What are the advantages of Bitcoin casinos?
Player privacy and instant play
As mentioned above, there is no need to even identify players within their casino exploits if they use bitcoin as their method of payment. This could prove very convenient in your rate of play – It could be even more instant, as you don’t need to wait for any bank checks or authentication. The payment transaction happens instantly between the casino and Bitcoin systems.
What are the disadvantages of Bitcoin casinos?
Can act as a limitation to profits
Bitcoin casinos can limit player access as not everyone has bitcoin to play. It’s a limited service and isn’t as popular or in demand as other methods of depositing. If a casino just caters to Bitcoin, they could limit their customer variance and potential meaning overall profits could be damaged.
How do I deposit within a casino?
Depositing and cash withdrawal is a very simple process to get the hang of when you gamble online. It’s a simple step by step procedure that is elaborated below for your convenience and guidance.
Sign up to a casino
The first initial process of depositing within a casino is by signing up to one. This process is pretty straightforward, you simply get directed to a form after clicking either ‘join now’ or ‘sign up’, to which you will need to enter all your credentials as a form of identifying yourself before any deposit can be made. The usual information will be required, from the name, date of birth (to verify you’re past the age restrictions), address and so forth.
Enter your payment method
The payment method selection will be encountered after you have filled all the necessary fields to your online casino membership profile. You can select any of the casino payment options that they provide, from the options we have elaborated on above. This will ensure that you can make a deposit through to your wallet. All methods are quite straightforward – either you’ll enter your card details (for credit cards, debit cards or prepaid cards), make a bank transfer into the casino or use the PayForIt/Boku options. For more information on how to use the pay by phone options as a method to deposit, check out our PayForIt and Boku pages.
Enter your promotional code
After you have made your deposit, if the casino bonus packages do not instantly trigger, that means they will need a promotional code to be entered within your wallet. This can be done by simply copying and pasting the promotional code within your casino profile and the you’re instantly ready to play! Most casinos use a promotional code to activate a bonus because not all players wish for a bonus to side with their cash deposits. Some want to play without any promotions and no wagering requirements.
How do we test and review the casino payment methods on casinos?
The payment method criteria for casinos that we base our decisions on are based on a strict set of principles that need to be present to determine whether or not a casino payment method is valid and legitimate in our eyes. All the recommended payment methods within casinos will be reviewed against:
Safety and security
As this is of the utmost importance, All the sites that we recommend will have the best encryption and SSL within their casino systems. This will ensure that if any of your sensitive information is shared with a casino, it will remain there and not be compromised by any unwanted third parties. This all adds up to protect you from any potential of fraud that may so occur.
Fast deposits and instant play
We understand that fast deposits and cash withdrawals are very important to players – you want to win and then withdraw those funds fast. This all contributes to an overall player experience.
We only include casinos that advocate fast and instant deposits for their casino gaming. Not forgetting that cash withdrawals of winnings are important too, if a casinos policies state that the authorisation of cash withdrawals surpasses 24 hours, then we won’t have that casino mentioned within our site.
Customer service care
We understand that as a player, you may have enquiries and queries that will need to be answered when you are making your payments into a casino. For that reason, we always make sure that our sites all incorporate a 24/7 care service, with a least three lines of direct contact. Anything involving payment methods are the areas which can cause problems along the way for players, so we expect hotlines, emails, live chats and frequently asked questions as the main methods of contact.
We look into specifics of how many payment methods the casino actually has to offer its customers. Do they have all the latest options or are they limited to just a small number of options for you to use?
The amount of payment methods that a casino has to offer, also reflects the casino’s legitimacy, as usually the casinos worth your time will be interlinked with the companies we mention – especially payment ones.