Casino Payment Methods
A large part of playing on an online casino is your payment method. It is certainly not the most enjoyable or entertaining factor, however, it is one of the most vital. Players should take particular care in choosing their online payment, a process that often requires research and effort, which is why we’re here to help. Keep reading to find the payment method that suits you best!
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- Solid payment methods
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- Minimum qualifying deposit: $5
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- Validity period: 7 days
Casino Payment Methods
The iGaming industry is a hub for technology and innovation. As such, licensed casinos have plentiful options when it comes to making deposits or withdrawals; the most common types are outlined below.
Debit Cards
Visa
Visa is not only one of the world’s most widely used payment methods, but also one of the first payment methods to be used at online casinos. Despite the increasing popularity of e-Wallets and fast bank transfers, you’ll still find Visa offered at all casino sites due to its ease of use.
One of the main advantages of this payment method being so widely used is the resulting high security. To learn more about this payment method you can visit our detailed review below.
Mastercard
Mastercard functions much in the same way as Visa and is also dubbed as one of the most popular payment methods worldwide. Unsurprisingly, when paying with Mastercard at an online casino, the process is identical to that of Visa and also the security of this payment method is one of the main reasons for its popularity.
E-Wallets
Skrill
Skrill is one of the most widely used e-wallets among casino players. The payment method belongs to Paysafegroup and is certified by the Financial Conduct Authority. Paysafegroup is behind Paysafecard and Neteller, too.
Depositing and withdrawing money from your casino account with Skrill is extremely easy. All the steps needed to utilise Skrill are outlined in our review below.
PayPal
PayPal is world-renowned as the most commonly used E-wallet. Despite its soaring popularity, PayPal is the least found E-wallet in the casino-realm when it comes to online casinos. PayPal manages 25 different currencies and currently functions in more than 200 countries. Thus, if you shop frequently online, there are definitely some benefits to be had in using a PayPal account.
Our review lists recommended PayPal casinos and also delves into the history of this financial titan.
Trustly
Trustly is the simplest, and probably the most widely used payment method among Swedish players. This payment option acts as an intermediary between the casino and your bank, and all payments are made with BankID. This means that you do not have to disclose card or account information, and the payments do not take more than a few minutes. The company is also a listed Swedish company that is certified by the Swedish Financial Supervisory Authority. Trustly is beginning to be more widely available for casino players.
Paysafecard
Paysafecard lets you make cash payments at online casinos. This service works much like when you buy a prepaid card for your mobile phone: you go to the nearest retailer and pay for a 16-digit code. Then, you use this code to make a deposit at the casino of your choice. This is basically the only way to make cash payments at an online casino.
Learn more about Paysafecard in our detailed review:
Zimpler
If you want to collect all your payment methods in one place, Zimpler is a service you should look into. Here, you can save all your cards, invoice payments and bank accounts in the same place. Use your telephone number to connect to the service, and all payments are made in three easy steps.
Discover how to use Zimpler in online casinos in our review:
Neteller
Neteller is a convenient e-wallet which you can use to top up your casino account with real money. You can fund your Neteller account directly through your bank or via a debit card. Because of casino regulations in certain jurisdictions, you might be excluded from a welcome bonus or unable to make your initial deposit using Neteller. However, once your account is verified, you’ll find Neteller to be a quick and convenient option.
Find out why players love Neteller in our review:
Payz
Payz is a secure e-wallet that enables you to make safe transfers worldwide. Many online casinos accept Payz payments and, unlike Neteller and Skrill, you won’t usually get excluded from bonus offers if you deposit with it.
Learn more about this trusted payment method here:
MuchBetter
You can download the MuchBetter app to use this e-wallet wherever you are. If you like to play at mobile casinos, then this could be a great option for you. With this e-wallet, you can make secure payments at several online casinos. It’s not as widely accepted as PayPal, but hopefully casinos will catch on to the hype soon. You can get rewards directly from MuchBetter as you deposit and withdraw.
Discover which top casinos are accepting MuchBetter:
Pay by Phone
Boku
Many players who play on mobile and are concerned about their privacy and safety online like to use Boku. With this payment method, all you need to give is your phone number. You can pay using your phone’s credit or add your deposit amount to your next phone bill. You can make instant deposits although you cannot withdraw with Boku.
Discover more about this smartphone-friendly payment method right here:
Cryptocurrencies
Bitcoin
As Bitcoin exponentially increases in popularity, it was only a matter of time until this relatively new and highly intricate system falls into the payment method section of casinos. With its incredibly secure encryption software, its element of anonymity, and technologically advanced system, we can certainly understand why some may choose this option.
Everything you need to know about Bitcoin in online casinos you can find in our Bitcoin review:
Bank Transfers
Bank Transfer
If you’re the kind of individual who enjoys life on the cautious side or aren’t too tech-savvy, then this is the option for you. Bank Transfer has been around the longest; it’s relatively straightforward and rather difficult to botch.
The main advantage of using this payment method is its simplicity. Since bank transfers have been around for a long time, many people may feel more comfortable using this option.
Online Casino Banking
Making withdrawals and deposits at online casinos is usually a pretty straightforward thing to do. This is thanks to the wide range of payment providers they accept. Some casinos charge fees but most don’t (unless you make frequent, small withdrawals).
One of the most popular payment methods with casino players is PayPal. Anyone who’s ever spent money online knows why PayPal is so convenient! However, there are many other e-wallets and options you can use to deposit and withdraw your winnings at a casino. The exact methods you can use to make transactions will differ from one casino to the next. But, one thing is for certain, they must follow the same strict licence rules.
Any casino licensed by a gaming commission will need to comply with the regulations. It’s great for you to know you’re playing in a safe and secure playing environment. When it comes to payments, a good example of this is the ban on credit cards in some countries.
How to Choose the Best Casino Payment Option
To ensure you have a better all-round casino experience, you should use the right casino payment option that matches your style of play! When searching for a payment provider to use, you can consider the below factors to help you choose the best option available.
💳 Minimum Deposit
Take a look at the minimum transaction allowed per deposit to work out what’s right for you. If you are an occasional player who likes to drop in smaller deposits, then seek out a payment option with a low minimum transaction limit. Casinos can often have different limits depending on the payment provider you use, so do some research before committing to a single method or casino.
With some payment methods, you can transfer as little as $0.01 at a time. However, most online casinos will have minimum deposit limits of $5 or $10. So, bear both the payment method and the casino in mind when you choose! Just be aware that you’ll sometimes be required to match the minimum stated to claim a casino’s bonus, and this could be higher than their usual limit.
⏳ Transaction Times
No one wants to be waiting days on end to claim their winnings or deposit some fresh funds at an online casino. The payment provider you choose to use can play an important role in determining how quickly you can play and get paid. At most casinos, you should be able to make deposits pretty quickly, or even instantly. The exception here can be bank transfer. Sticking with e-wallets or debit cards should allow you to make a speedy deposit.
Things can often slow down when it comes to claiming your winnings, however. There are two main factors involved in this process: approval from the casino and the speed of your payment provider. Approval is usually slower on your first withdrawal as the casino needs to verify your account. However, it should be quicker for future transactions as you only have to verify it once. Then it’s down to the payment provider to move the funds from the casino to your account. As a general rule, e-wallets are the fastest at doing this, typically within 1 to 2 days. Debit cards are usually a little slower at 2 to 5 days or more, but it can vary widely from one withdrawal to the next.
👍 Availability/Popularity
Another thing to think about is how widely your preferred payment provider is accepted at online casinos. If you are sticking with the big boys, such as Visa or Mastercard debit cards, then you should find they are accepted at pretty much any online casino.
PayPal comes in at a close second, and it’s definitely a player favourite. You can use e-wallets, such as Skrill or Neteller, at most online casinos without issues but just be aware that they might not be valid when claiming bonus offers.
You will have less choice when it comes to online casinos if you are using Paybyphone or Paysafecard to fund your account. Also, it’s worth remembering that these payment methods cannot be used for withdrawals either. So, you’ll have to use an alternative option to claim your winnings. In these cases, you can almost always request a bank transfer. Although it’s not ideal if you don’t want casino transactions showing on your account statements.
💸 Fees
It’s not a great feeling to make a deposit or withdrawal and get less money than you thought you would. Fees can be a real buzzkill at online casinos and are best avoided altogether where possible. Check through the casino’s payment pages or T&Cs to see if they will apply any fees to the transactions you make with them.
Fees can be applied as a percentage, i.e. 3% of the transaction’s total value, or simply as a flat rate, such as $2.50, regardless of the transaction size. There is also often a minimum amount, under which fees are applied on any transactions. For example, a casino might apply a $2.50 fee to any withdrawals which are less than $30.
The reason why a casino might start charging fees on your withdrawals is if you regularly make small withdrawals. In this case, it’s worth waiting until you build up your winnings before cashing out to avoid getting less than you expected. Also, be aware with deposits that a transaction fee might end up excluding you from the welcome bonus offer. If you have to deposit a minimum of $10 and you pay in $10 but get charged a 2% fee, you will miss out on the bonus.
Conclusion
It comes as no surprise that selecting which company to trust with your money can be somewhat tedious. With various factors to consider, players should take note of all their options prior to settling on one. Security and safety must always come first when making a decision regarding payment options. In compiling this information, we hope that we’ve made this process slightly easier on your end!
Frequently Asked Questions
Online casino banking can be a pretty confusing subject at the best of times. With a large choice of payment providers to choose from, it can feel a bit overwhelming. Our team of casino pros have answered the below common payment questions to help you out.
If you are unsure about which payment methods to use, then stick to ones you know and trust from personal experience. International payment providers such as Visa and Mastercard are accepted at pretty much every licensed casino. They also benefit from having great security practices in place, plus solid customer support should you need it.
This depends on both the casino and the payment provider moving the funds quickly. As a very general rule, e-wallets will take 1 to 2 days, and debit cards are usually a little slower at 2 to 5 days. These times kick in after the casino has approved your withdrawal request, which can be anywhere from a few seconds to a few days depending on your account status (regular or VIP). Getting your account fully verified is a good way to reduce any wait times.
Due to gambling regulations, online casinos are no longer allowed to offer this service as they once did. Be very wary of any casino which claims to offer this as all transactions need to be checked and approved at an officially licensed casino.
Yes. Most online casinos will allow you to use multiple payment methods for any transactions on your account. However, it’s always good to keep things simple where possible and using the same method to make deposits and withdrawals might even reduce the wait times.
Absolutely. There are some prepaid cards, such as Paysafecard, which are accepted by online casinos. You can buy these with cash at your local shop and then use the prepaid card number to make a deposit at your favourite casino. You can’t withdraw cash though, and you will have to request a bank transfer to get your winnings.
