Commonly Used Payment Methods at Online Casinos
Casino Crest is dedicated to helping you have the best online gambling experience, and a big part of that experience is making effortless and secure online transactions. With our team of industry experts, we have analysed and reviewed all popular payment methods that online casinos offer, not only UK-based casinos, but also global casinos that accept players from various countries.
Finally, we have come up with a comprehensive list of online casino payment methods that we recommend to all our readers, regardless of their location and experience with gambling online. Stick around if you want to learn more about transaction security, speed, fees, and everything else that comes with making payments to and from your online casino account!
Filter
One thing you should always remember is that online casinos have a much different process of transacting funds than land-based casinos. At land-based casinos, all you need to do is go to the counter and exchange cash for chips, doing the same once you are done gambling for the day.
At online casinos, the process is not so easy. Deposits are usually instant, but which method you use can affect your ability to qualify for specific promotions. Withdrawals are even more complicated, as their processing times depend on your chosen method. Some method providers even charge fees, which can further complicate the process.
To make things even more interesting, playing with bonus funds and free spins, unless they are wager-free, prevents you from withdrawing your winnings right away. You need to complete the so-called playthrough to turn your bonus cash into real money winnings that are withdrawable.
Because of all this and much more, it’s essential to consider which payment method you use to make transactions. Payment methods can make or break your online gambling experience, but some of the things we deem most important for you to consider are the following:
The selection of online casinos’ payment methods has become quite versatile over the years, as casinos have made it a goal to add as many trusted providers as possible to make transactions convenient for their players. Some of the payment methods you’re most likely to come across are credit and debit cards, e-wallets, cryptocurrencies, bank transfers, prepaid cards, and others. Here’s more on the advantages and disadvantages of using each of these:
Some popular credit and debit card providers include Visa, Mastercard, Maestro, American Express, and Discover. The first two options are most common at online casinos, while the availability of the latter three depends on your region.
Advantages: Some advantages of using credit and debit cards for online gambling are that they are widely accepted and most adults have at least one valid card they can use for online transactions. Using cards for online gambling is also easy because you only need to share your card number, CVV code, and expiry date to confirm your transaction. There’s no need to make any additional accounts, as would be the case with e-wallets. In case you want to be secure, you can always add 2FA to your bank account, which will require an extra code whenever you try to transact, helping you keep track of transactions you make, along with possible fraudulent transactions.
Disadvantages: The only disadvantage to using credit or debit cards for online transactions is that they may not be available in your region. While this is not the case with Visa and Mastercard, card providers like Discover or AmEx are only available in the US, so players from other countries might not be able to use them.
E-wallets have become quite popular in recent years, with many options appearing as valid deposit and withdrawal methods at online casinos. You should look into PayPal, Skrill, Neteller, ecoPayz, MuchBetter, AstroPay, and Jeton.
Advantages: One of the reasons why we would recommend e-wallets for online transactions is that their processing time is minimal or even instant in the case of online casinos. These methods offer enhanced privacy, as your personal information is hidden from the casino, and the only thing you share is the e-wallet account info. Other security features are integrated into these wallets and offer you peace of mind when transacting online.
Disadvantages: One disadvantage of online wallets is that they are not always eligible for bonuses and promotions, so you have to resort to using other methods. Also, not all the wallets we mentioned above are available worldwide, so you have to check their availability in your country before committing to using them.
Cryptocurrencies are becoming more widespread in online gambling, with more platforms adding them as valid options. Some popular currencies include Bitcoin, Ethereum, Litecoin, Tether, Dogecoin, Tron, and Bitcoin Cash.
Advantages: Most casino players resort to using cryptocurrencies to ensure quick deposits and withdrawals that are often instant. There are no significant fees to discuss, but these methods offer anonymity and privacy better than any other method we’ve mentioned thus far. As soon as you purchase your coins, you can connect your wallet to your casino account and transact easily.
Disadvantages: One of the only downsides to using cryptocurrencies when gambling online is that they might not always be available at your preferred casino. Crypto gambling is also not legal worldwide, so you’ll need to make sure it is in your region before purchasing any crypto coins to gamble with.
Bank transfers are a common withdrawal method at many online casinos. Some of the options often offered are Wire Transfers, ACH, SEPA, Interac e-Transfer, and Instant Bank Transfers.
Advantages: Making bank transfers to and from your online casino account allows you to transact large amounts, making this option great for high rollers. The limits are usually higher for bank transfers than for other methods, but this depends on your casino. Moreover, banks have extra security features, making your transactions as secure as possible.
Disadvantages: Players avoid bank transfers mainly because they have the longest processing times, sometimes extending to 7 banking days for withdrawals. Moreover, withdrawals come with a specific fee charged not by the casino but by the bank itself.
If you want to use a prepaid card or voucher to fund your casino account, some options you can look into include Paysafecard, Neosurf, Flexepin, CashtoCode, and AstroPay Card.
Advantages: What we love about prepaid cards and vouchers is that they allow you to stay within your determined budget for the day. For example, you purchase a voucher for the amount you are ready to spend at the casino, so you can’t deposit anything more and overstep your budget. Additionally, cards and vouchers allow anonymity, as you should only share the number on the voucher and not any personal or bank information.
Disadvantages: In most cases, these prepaid cards and vouchers can only be used to fund your account, not to withdraw your winnings. So, you will have to resort to using a second method for withdrawals. If the casino limits you to using the same method for deposits and withdrawals, that will be an additional issue to tackle.
If you’re keen on playing casino games from your phone, you can also make transactions directly from it using mobile payment methods like Apple Pay, Google Pay, Samsung Pay, Boku, Zimpler, and Payforit.
Advantages: We recommend mobile payment methods for online transactions mainly because they are very convenient. You don’t need to share your information before each transaction – just use the payment app and approve it. The security is still high, so you don’t have to worry about unauthorised payments or anything similar.
Disadvantages: These methods are not always offered at online casinos, and if they are, they can be limited to deposits only. So, it’s essential that you check on their availability at your preferred casino before deciding to use them.
If you want to use instant banking services for online gambling, we recommend looking into Trustly, Interac, iDebit, iDEAL, InstaDebit, Sofort, Rapid Transfer, and POLi.
Advantages: With each of these options, you actually use an existing bank account to connect it to the payment provider and use it at online casinos. Transactions are quick and protected by enhanced security features.
Disadvantages: With most of these methods, you will have to check the availability in your country. While Trustly is widely accepted, Interac and InstaDebit tend to be available only for Canadian players. Even if you have some of these methods available to you, they might not be eligible for withdrawals, requiring you to switch to a second payment method.
With so many options available on the global market, it can be quite challenging to focus on only one or another online casino payment method. But we want to help you learn the basics of the methods we reviewed above and see how they compare to one another, all in hopes of helping you easily decide which method you should use. So, here’s a comprehensive overview of some of the most important features of payment methods online casinos promote:
| PAYMENT METHOD | DEPOSITING TIME | WITHDRAWAL TIME | FEES | BONUS ELIGIBILITY | SECURITY |
|---|---|---|---|---|---|
| Credit & Debit Cards | Instant | 1-3 banking days | Possible | Yes | High |
| E-Wallets | Instant | 1-3 banking days | Low/None | Yes/No | High |
| Crypto | Instant | Instant | Low | Yes/No | High |
| Bank Transfer | Up to 24 hours | 1-7 banking days | High | Yes | High |
| Prepaid Cards | Instant | N/A | Low/None | Yes | High |
| Mobile Payments | Instant | 1-3 banking | Low/None | Yes | High |
| Instant Banking Services | Instant | 1-3 banking | Possible | Yes | High |
If you’re new to online casinos’ payment methods, it’s understandable that you might not know how to choose the right payment method. But we’ve got you covered because, at Casino Crest, we have a team of industry experts who can help you determine the perfect payment method according to your needs and preferences. Here are only some of the features you should consider before making your final decision:
Wondering what the future could bring for all casino players keen on exploring different payment methods for their transactions? Even though it’s impossible to predict all trends, we have a few ideas of what the coming years could bring. Let’s discuss them in greater detail:
Crypto casinos have been on the rise lately, but these are not the only platforms offering cryptocurrencies as payment methods. Instead, we see more and more existing casinos adding cryptocurrencies in an effort to attract the group of players who would rather transact using these coins than any other currencies.
So, we expect that crypto will become more of a standard feature at online casinos than it is at the moment. Expect to see more casinos offer the option to purchase crypto or even create a crypto wallet using their platform, which would make the process even more convenient for players.
Many casinos have started integrating different payment solutions for the regions where they are available. This allows players to use local payment methods to make their transactions, making it easier for them to add funds into their accounts and withdraw without worrying about the safety of the transaction.
Of course, the availability of these methods will always depend on the specific region, but even for global players who don’t want to focus on local methods, there will be plenty of options to choose from. Expect to see the standard methods that are common in online casinos, along with these local methods.
Security features have long been discussed, as online casino players want to be as safe as possible when making transactions online. We expect the future to bring improvement to the existing security features, possibly even some new features that would improve security even further. We don’t exclude the possibility of casino apps adding the option to unlock profiles only with face ID or fingerprints.
The payment method that has the fastest online casino transaction processing is often crypto, but it’s not always available. If it’s not, then e-wallets would be the fastest withdrawal method that you can use.
Casinos often charge small, insignificant fees, but it’s even more common to find casinos that don’t charge any fees. The payment methods you’ve selected could add a fee to your transaction, which is usually the case with credit or debit cards and bank transactions.
Of course, as long as you are using a trusted and licensed online casino that has been approved by your local regulatory body. In that case, the casino will offer secure transactions to and from your account using various card providers available in your country.
Most casinos don’t limit the payment methods you can use to qualify for a casino bonus, but you should still check the bonus details to ensure this is the case. The payment methods most often eliminated from bonus qualification are e-wallets like Skrill or Neteller.
If you want to ensure that an online casino payment method is legit, learn more about the method online by visiting its official website. There, you can learn more about the security features and transaction processing times that will help you decide whether it’s the right fit.
