Online casinos are one of the favorite past-times of many people. This is because they are so easy to access and so easy to play. People have used them for years now, and have found them useful in many ways. However, some people find it hard to keep up with how different online casinos work, what payment methods they accept, what bonuses you can get, all that sort of stuff. There’s something you should know.
Most casinos, like for example onlinegambling.com.ph have many different payment methods that people can use to deposit money into their accounts. However, your withdrawal account is usually limited to the payment methods that are set up beforehand. This means that before you take the plunge and start gambling online, it’s important for you to find out which payment methods are accepted by the website of your choice.
1.) Credit/Debit Cards/Prepaid Cards
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Credit/Debit cards and prepaid cards are some of the most common payment methods and are accepted by almost every online casino. Prepaid cards are handy because they usually have a set amount and a distinct time span, meaning that you don’t have to worry about paying more than what was promised.
Amex
Amex cards are a popular payment method because they are accepted by most of the larger online casinos such as partypoker.com, bet365 and Ladbrokes casino to name just a few. Prepaid cards and debit cards on the other hand can be used at any online casino, but not all of them accept Amex.
Mastercard
Mastercard is a popular payment method because it’s very easy to use and is accepted by almost every online casino. Mastercard cards are advertised as being a safer payment method because they have chips on them that are linked to your personal details (therefore no need to carry around IDs) and also because they don’t have the reputation of being hackable as much as other cards.
Paysafecard
Paysafecard is an alternative for Mastercard. Paysafecard is a prepaid card that can be used to play at most casinos. Using Paysafecard is easy and only takes a few seconds. The downside to using Paysafecard is that if you win with it you won’t be able to withdraw your winnings.
So, depending on the site that you are playing at, the payment methods accepted may differ from the one listed above, but the principle remains very much the same.
Visa
Visa is another popular payment method that many people use when playing. These cards are very easy to get and are accepted at almost every online casino. The downside to using Visa cards is that one has to pay a monthly fee of 3% which can range from 1 to 5, depending on the casino site. This makes them more expensive than other types of cards.
2). E-Wallets
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E-Wallets are the newest addition to casino payment methods and are becoming very popular. These e-wallets are the most convenient way of withdrawing funds and have a lot of benefits to them. They are safe, easy to use, have a high level of security and there is no need to carry around bank cards or even IDs. They’re also high cost as compared to other payment methods because you’re having to pay for each and every withdrawal.
Citadel/MyCitadel
MyCitadel is a secure e-wallet that can be used to make deposits and withdrawals from online casinos. It is a very easy way of making deposits since there is no need to type in your card details when making a deposit. There are two types of MyCitadel, and Citadel cashback.
Eco/EcoCard
EcoCARD is an e-wallet that is similar to Citadel. This e-wallet is linked to your bank card and can be used to make deposits and withdrawals through online casinos. It is very easy to use and is considered a safe way of withdrawing funds from this kind of websites.
EcoPayz
EcoPayz is another e-wallet to consider. It is linked to your bank card and can be used to make deposits and withdrawals from online casinos. For the time being, there are fewer online casinos that accept EcoPayz as compared to other payment methods because it does not have much popularity.
Neteller
Neteller is a popular e-wallet to use at online casinos. It is linked to your bank card and can be used to make deposits and withdrawals from online casinos. It is very easy to use and is an easy way of withdrawing funds from an online casino.
PayPal
PayPal is a popular e-wallet that is not linked to bank cards or anything else. All you have to do is set up an account and use it to make deposits and withdrawals from online casinos. The advantage of using PayPal is that it has the highest level of security for deposits.
Skrill
Skrill is another e-wallet to consider. It is linked to your bank card and can be used to make deposits and withdrawals from online casinos. Skrill can be used from any country in the world, making it easy for people from different countries to play at online casinos together.
3). Bank Transfers/Bank Wire Transfers
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Some online casinos offer the option to deposit funds into your account through bank transfer or bank wire transfers. It is an obvious choice for those who want to use a safe way of transferring funds and need the most certainty in their transaction. However, you will notice that your withdrawal account is only limited to this payment method.
Bank Transfer
In order to make a bank transfer, you will have to contact your bank and ask them for the details about the bank account that you can use for the transfer. You will then have to fill up a form online, usually accessible on your bank’s home page and send it in. Your request will be processed and you will receive your funds in the form of winnings after about a week.
Bank Wire Transfer
To make a bank wire transfer, you have to contact your bank and ask them for the details regarding the account that you can use to send the wire transfers. You also have to ask them for a SWIFT code which is used to identify your payment more easily and accurately. Most online casinos that accept Bank Transfers also accept Bank Wires.
4). Cryptocurrencies
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Even though cryptocurrencies have not been around for long, they have already made a big impact in the online casino world. Cryptocurrencies are taking over more and more of the online gambling industry, making it easier for players to deposit and withdraw. In fact, there are several online casinos that only accept Bitcoin. There are multiple reasons why cryptocurrencies have become so popular such as lower transaction fees and faster payments compared to other payment methods. Some examples of cryptocurrencies are:
Cryptocurrencies can be bought for real money through exchanges like Coinbase or Kraken. Once the cryptocurrencies are in an account, they can be exchanged for real money through online casinos.
Ethereum is one of the more popular cryptocurrencies in the online gambling industry. It offers users a platform that is not controlled by a single entity and therefore it is completely decentralized. The transactions are also faster and cheaper compared to other payment methods like Paypal or PayPal. Another advantage of using Ethereum is that it maintains strong security features, making it hard for hackers to steal your funds from your Ethereum account.
Conclusion
As you can see, there are several payment methods for when you want to deposit money into your online casino account. The list is not complete as there are many other ways as I am sure someone will definitely find another way on this list. However, if you want to be a safe and secure player then there is no better way than using a Visa- or MasterCard-based payment method.
