Payments form one of the most critical components of the online casino experience – you must be able to deposit and withdraw money without any trouble securely and quickly. Deposits have always been easy; withdrawals are what players – and casinos – have struggled with, because it takes time.
There are a number of payment methods that online casinos support to make the transaction experience easy for you. Here are the top 7 payment methods that players are choosing in 2022.
1. Fast and Secure Payments Using Credit Cards
Everybody loves a credit card – it allows you to shop even if you don’t have enough money in your bank account at the time! They are among the most used payment systems in the world and are quite handy at an online casino as well. Your transactions are layered in security and happen easily.
The most commonly accepted credit and debit cards at online casinos are:
- American Express
Some casinos accept payments through Diners Club International as well.
The one issue with credit card payments – you may just get carried away, because the money is available to you even if there’s nothing in your account, and that can lead you to play rashly and run up a huge credit card bill or, worse, the problem of gambling addiction.
2. Pay with What You Have – The Debit Card Experience at Online Casinos
Debit cards have a huge added advantage – they allow you to play with only what you have in your account! Your gambling stops once your account balance reaches a critical level. And that is a great way to avoid the trap of gambling addiction.
Debit card payments, like credit card payments, are completely secure. They were later additions in the online shopping world, and the same is true of online casinos as well. The most commonly accepted debit cards at online casinos are:
3. Simplifying the Payment Experience with E-Wallets
The next payment method that enjoys considerable popularity across the world is the e-wallet. E-wallets are easy to use and simplify the payment experience. More importantly, they act as an intermediary layer between your bank and the casino.
The popularity that e-wallets enjoy globally has exploded in recent times. This is primarily because of the numerous advantages they offer. The first, and the biggest of them all, is the quick payment processing timeframe. They are way ahead of debit and credit cards in this aspect.
Another factor that has contributed to their popularity is the low processing fee that they come with. And then there is the security aspect too – e-wallet payments are secured with high-level encryption. And of course, they are very easy to sign-up with.
To sum up, digital payments have become popular over the past decade for various reasons. Firstly, they offer peace of mind whether you’re depositing or withdrawing funds when cashing out on that much-coveted casino bonus, and you can rest assured both processes are done securely and efficiently.
4. Exploring the New World of Secure and Anonymous Payments with Cryptocurrency
The payment method that has possibly made the biggest jump in popularity – from a place of obscurity to a point where there are casinos that offer it as the primary payment method – is cryptocurrency. Cryptocurrency payments are quick, secure and offer the possibility of a degree of anonymity that you would not find in any other payment method. And of course it is easy to use.
The big benefits that cryptocurrency offers players are:
- Fast transactions. This is one payment method where your money can actually reach you in an hour or two. Compare that to the 3 to 5 days that credit and debit cards take to process payments and the answer is a no-brainer.
- Absolute security. Cryptocurrency payments are secure. Period. That is because of the cryptographic element incorporated into it. And that works for both players and casinos.
- Privacy and anonymity. Cryptocurrency payments afford you a huge degree of privacy. One of the hallmarks of cryptocurrency is the level of anonymity you can maintain, and that is a big draw for some players.
Popular cryptocurrencies that you find at online casinos nowadays include:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Tether (USDT)
5. Making Payments Securely and Easily with Prepaid Cards and Gift Cards
Prepaid cards are popular among a sizeable number of the online casino crowd, though it is nowhere at the level of credit cards or debit cards.
These are like temporary e-wallets – you buy a prepaid card of a certain denomination, provide the casino with the 16-digit code that you find on it – and a payment of the value of the card denomination hits your account. You can use multiple cards simultaneously to ensure higher deposits.
The advantages are again quickly visible – you have to buy the card, which means no money equally no card equals no gambling. They are anonymous and ensure there is not even the remotest possibility of exposing your bank account info to the casino or to that malicious third party we hate – the hacker.
Popular prepaid cards and vouchers that you find at most online casinos include:
Most casinos offer prepaid cards for deposits only.
6. Going the Time-Tested Way with Bank Wire Transfer
The one payment method that you find at almost every online casino is bank wire transfer. It may be slower than most other methods, but I guess nothing beats the aura of security that a bank exudes. And with good reason – banks use high levels of encryption to protect your money.
There are headaches while using it, true – you have to subject yourself to a strict KYC process. And your payments take much longer to be processed and therefore to reach you than most other payment methods, usually at least 7 days – sometimes it can take up to 16! And then there is usually a processing fee that a bank charges for a transaction, unlike an e-wallet or cryptocurrency payment.
But there are quite a few countries where bank wire transfers are popular, and casinos don’t mind offering this payment option either. Most casinos nowadays offer it for withdrawals. Casinos usually ask you to use the same method for deposits and withdrawals, and if that is not possible, the default alternative they offer for withdrawals is a bank wire transfer.
7. Entering the Brave New World of Mobile Payments
The mobile device – usually a smartphone or a tablet – has changed most things about the world we knew. Everything happens through mobile nowadays – from social media interaction to online shopping, and this includes the casino experience too! Not only can you play from a mobile device, you also have payment methods exclusively for mobile casinos.
Some of the popular mobile payment methods that you find at mobile casinos nowadays are:
And if you are from the UK, you also have the option of depositing into your casino account through your mobile bill! The process is simple: choose pay by mobile phone as the option, enter the amount you wish to deposit and hit the deposit button – the amount that you entered gets tagged to your next phone bill. However, this method is available for deposits only.