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 which often requires research and effort, which is why we’re here to help. Keep reading to find the payment method that suits you best:

Credit 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 in e-Wallets and fast bank transfers, you’ll still find Visa on all casino sites. To make a payment with Visa, simply follow these steps:

  • Log in to the casino and go to the payment page.
  • Select Visa as a payment method.
  • Enter your name, surname, card number, the card’s expiry date and CVV code. The CVV code is a three-digit code that you will find on the back of your card.
  • Type in the amount you would like to enter and click Ok.
  • Once you have entered your card details, you can choose to save the card, so you do not have to re-enter all the details when you want to withdraw.

Pros and cons of Visa:

One of the main advantages of this payment method being so widely used is the resulting high security. However, there are some obvious drawbacks to using Visa at online casinos. 

Firstly, it takes between three to five business days to transfer the money into your account. Secondly, it is required that your card details are left online. This is not particularly concerning since all licensed casinos use advanced encryption software to protect your information, although it is worth noting that there are safer options.

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Mastercard

Mastercard functions 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.

Pros & cons:

As with Visa, the pros revolve mainly around the security of this payment method. It is found at all casinos, although, as previously mentioned, withdrawal times are lengthy in comparison to other options. Additionally, you have to submit your card information online. Mastercard also uses advanced encryption software, although it is subject to the same criticism as Visa in that there are safer options.

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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.

How to pay with Skrill?

To use Skrill, you should start by creating an account on their website. Simply fill in your name and address, and link a bank account or debit card to your Skrill account. After you’ve completed these steps, you will be able to transfer money to your new account and deposit money on any casino site that accepts it. Here’s a run-through of how to use skrill on an online casino platform:

  • Log in to the casino and go to the payment page.
  • Choose Skrill as your payment method.
  • Enter how much money you want to deposit.
  • Provide the email address you registered for your Skrill account and complete the payment.
  • For withdrawals, simply go to the payment page and do the same.
  • You will have the money in your Skrill account within a few minutes.

Pros & cons:

Creating a Skrill account is extremely straightforward and user-friendly. Additionally, the fees are low and there are no charges when sending or receiving money. If you win, you can make as many free withdrawals as you please.

However, there is a transaction fee of at least 1% each time you deposit money into your Skrill account. Moreover, when you transfer money from Skrill to your bank account, it can take up to 48 hours for the money to arrive.

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PayPal

PayPal is world-renowned as the most commonly used E-wallet. In spite of its soaring popularity, Paypal is the least found E-wallet in the casino-realm. 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.

How to pay with PayPal?

Just like the other e-wallets, you have to create an account to start using PayPal:

  • Go to PayPal’s website, click “Sign Up”, and select “Personal Account”.
  • Enter your name and email address, and create a password.
  • Tick the box in the security check and confirm that you are not a robot.
  • Enter your address, postal code, city, mobile number and your date of birth. You must also accept PayPal’s Terms of Service by selecting “Accept and create account”.
  • Once you’ve linked a debit card, you can start using PayPal at casino sites.

Pros & cons:

Of course, since PayPal is the world’s most widely used e-wallet, there are some obvious benefits to using this e-wallet. You can easily transfer money from your game balance and shop at numerous online stores with your PayPal account.

There are no fees when transferring money from PayPal to your bank account, on the other hand, there is both a fixed charge and a percentage charge for all payments you receive from online casinos. Here is a summary of the fees:

  • £0 – 25,000 – 3.4% + flat fee.
  • £25,000 – £100,000 – 2.9% + flat fee.
  • £100,000 – £500,000 – 2.7% + fixed fee.
  • £500,000 – £1,000,000 – 2.4% + fixed fee.
  • Over 1,000,000 – 1.9% + flat fee.

If you play with a currency other than the one you have in your PayPal account, there will also be a charge between 2.5% and 4%, on top of the basic exchange rate. The fee varies depending on whether the seller is responsible for the conversion fee or not.

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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. Trustly is also a listed Swedish company that is certified by the Swedish Financial Supervisory Authority.

How to pay with Trustly?

To use Trustly you need a bank box or Mobile BankID. Then, the payment is made in just a few simple steps:

  • Log in to the casino you want to play at. If it is a quick registration casino, click Continue Record or Insert. If you play at a traditional casino, you can log in with your login details, and choose Trustly on the payment page, instead.
  • Select your bank from the drop-down menu.
  • Verify yourself with Mobile BankID or bank box.
  • Enter the amount and complete the payment.
  • When you withdraw money, you go to the payment page and follow exactly the same steps.

Pros and cons of Trustly

There are no immediate disadvantages to using Trustly. This is the fastest and safest payment method available for online casinos. You don’t have to disclose sensitive information because you verify all payments with e-credentials, and the transfers only take a few minutes. There are no charges, neither when you deposit nor when you withdraw money.

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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.

How to pay with Paysafecard?

To pay with Paysafecard, start by finding a reseller. You will find the cards at well-known stores such as 7-Eleven, Pressbyrån, Shell, Hemköp, Circle K and Willy’s. On Paysafecard’s website, you can also conduct a search to find a dealer near you.

You can buy cards for £100, £250, £500 or £1000. 

Follow these steps to use Paysafecard at a casino:

  • Log in to the casino and go to the payment page.
  • Select Paysafecard.
  • Enter how much money you want to deposit.
  • Enter the 16-digit code on your Paysafecard and complete the payment.

Pros & cons:

The advantage of Paysafecard is that you can make completely anonymous cash payments. Otherwise, this payment method is quite complicated compared to other alternatives. In addition, there is a fee of five pounds for each purchase. Depending on which denominations you buy, you can expect a deposit fee of between 0.5% and 5%.

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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.

How to pay with Zimpler?

Here’s a step-by-step guide on how to make a casino transaction on Zimpler:

  • Log in to the casino and go to the payment page.
  • Select Zimpler.
  • Enter your phone number.
  • Enter the four-digit security code you receive via SMS.
  • Now you can choose one of the payment methods you linked to your Zimpler account and complete the payment. When you withdraw money, it works exactly the same way.

Pros & cons:

Zimpler makes it extremely easy for you to collect all your payments in one place. With this service, you can access all your debit cards and accounts directly from your phone, and the payments do not exceed the processing time of a few seconds. Unlike Trustly, however, the service is not completely free. There will be different transaction fees depending on your added payment methods.

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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. 

How to pay using Bitcoin?

To use Bitcoin on a casino site, you must first obtain a Bitcoin Wallet in order to withdraw and deposit funds. You may then choose between a web wallet or a desktop wallet, the former being an installation into your computer, and the latter being more secure in that it does not work with a third party software. When it comes to filling in your personal details, the main difference is that with Bitcoin, you do not need to give in your address, unlike other E-wallets.

Once this is done, of course, you will have to purchase some Bitcoins. This can be done through the actual Bitcoin wallet, or a variety of other options, including Bitcoin ATMs, Mining Bitcoins, over the counter, or Bitcoin exchanges. 

Last but not least, to register Bitcoin as your payment method, follow these steps:

  • Set up your account and register at a Bitcoin casino. 
  • Once you are registered, find the payments page of the casino.
  • Select Bitcoin as your currency.
  • Once you have done so, you will be able to deposit Bitcoin into the casino of your choice.

Players should keep in mind that they are allocated a Bitcoin address, which will be required when making a withdrawal or deposit.

Pros & cons:

With its incredibly secure encryption software, its element of anonymity, and technologically advanced system, we can certainly understand why some may choose this option. Although, players should be aware that once a payment is made, it is irreversible, which means that players should be extremely careful in ensuring that the casino they are using is trustworthy and secure. 

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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.

How to pay using Bank Transfers?

As previously mentioned, this is quite a simple process:

  • Sign up to the casino.
  • Visit the casino’s payment options page.
  • Select bank transfer.
  • Fill in personal details and account information.
  • You’re good to go!

Pros & cons:

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. There are several convenient payment options for making bank transfers. Payments are immediate, very secure and fairly smooth.

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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!