More and more people are choosing to play real money casino games online because of how convenient it is. They no longer have to travel to land casinos to enjoy their favorite games, and all online casino operators ensure that transactions are easy and hassle-free.
Transactions at online casinos are now as easy as shopping online. Players are presented with multiple options so they can seamlessly make a deposit to their gaming account and withdraw their winnings.
Deposits are almost always processed instantly and many online gambling sites now process payouts in just a few minutes.
So, what are some of the most used payment solutions at online casinos? We’ve got them all including what you must know about them.
Credit and Debit Cards
The use of credit and debit cards remain the most popular option for online transactions. It’s estimated that over 2 billion online credit card transactions occur worldwide daily. So, it’s no surprise that this is a well-used option on online casinos.
It’s easy to use as you only need your card number and CVV at the back of your card to proceed with a transaction. Some online casinos also allow payouts through the same channel.
Some of the popular credit and debit card networks today are Visa, MasterCard, American Express, and Discover Network.
Prepaid Cards are a lot like debit cards. You can’t use it unless you have a balance in your card. This is a popular choice for people who want to avoid connecting their bank accounts to any gambling-related transactions.
You can get prepaid cards at retail stores for a fee, but there are also some that you can get online. You won’t need a bank account to have one as you only need to activate it and load up with an amount you want.
Note that prepaid cards typically expire quicker than regular credit and debit cards. In addition, some prepaid card providers may charge an annual fee, so be sure to check the terms before getting one!
Many would say that a few of the best prepaid cards you can get are Serve (AmEx), Movo Virtual Prepaid Card (Visa), PayPal Prepaid Card (MasterCard), and BlueBird by AmEx.
Digital Wallets/E-Wallets and Mobile Wallets
Aside from credit, debit, and prepaid cards, many would also use digital and mobile wallets. Most digital wallets like PayPal also won’t require you to connect your online wallet to a bank account, but they might need at least one credit/debit card linked.
They’re also usually strict when it comes to an online wallet creation, so you might need to send a copy of your ID and proof of residence. If you’ll be using a mobile wallet, you’ll need a unique phone number to have one.
Popular digital wallets today aside from PayPal are EcoPayz, Neteller, Skrill, Venmo, and Zelle. For mobile wallets, popular options are Google Pay, Apple Pay, Samsung Wallet, and CashApp.
There has been a significant increase in the use of cryptocurrencies in gambling online. It’s not only because it’s convenient to use, but it’s also a great way to dodge gambling-related transactions on your bank account.
It’s also private and safe to use since cryptocurrencies use blockchain tech. This makes it easy to keep track of transactions and ensure that they are received by the other end. Many online casinos are also usually more generous to crypto players. They have better crypto promos and bonuses, and that’s because it’s generally cheaper to process crypto payments and casino payouts are fast sometimes instantly. So, if you’re after getting the best casino bonuses, go for cryptocurrencies.
Some of the top cryptos used at online casinos today are Bitcoin, Bitcoin Cash, Litecoin, Bitcoin SV, Ethereum, Tether, and Dogecoin.
Bank Wire Transfer
There are still many players who prefer using bank wire transfers when depositing to their casino account. As long as you don’t mind having a gambling-related transaction in your payment history, this is a fast option.
You won’t have to use other payment channels and just fund your casino account directly from your bank account. Bank transfer deposits are processed instantly, but when it comes to cashouts, it could take a business day or two to process.
These are just some of the most popularly used banking methods at online casinos today. There are online casinos that also offer more options including cash by check, cash by retail stores, and payment over the phone.
The bottom line is that whatever the most convenient way for you to transact online is, you’ll easily find an online casino that can cater to that.