The Different Types Of Online Casino Payment Methods
When you play at a land-based casino, it’s a simple process of trading your cash for casino chips to start playing the games. The digital world is diverse, with many choices in secure online casino payment methods.
In 2021, the choice continues to grow, with fascinating new payment solutions like Crypto Currency, E-Wallets and Prepaid options becoming more popular. Each payment method provides different benefits, and this article aims to look at the best ways to get your funds safely online to play at casinos.
Important Factors To Consider
When you sign up to play games at an online casino, there are a few important factors to consider before deciding to deposit. Is the casino licensed to offer gaming services? Do they have an active SSL website connection? How’s their online reputation? These are all essential questions to ask to find safe & reliable gaming sites.
Casinos that are licensed and operate secure websites with up-to-date Secure Socket Layer (SSL) connections provide a safe place for customers to play games. SSL connections encrypt the data sent between players & the casino site, so when you make a deposit, your personal details are kept safe. This is a must for any reputable online casino, as it provides a safe gateway for players to deposit & withdraw funds securely from.
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Bank & Credit Cards
In the online world, the credit card has remained dominant for years. This includes in the online casino sector, with nearly all sites accepting credit/debit card payments. These options are ideal for a quick & simple deposit, but they have certain max limits that might make them unsuitable for high stakes players. The most popular credit cards accepted at online casinos include Diners, Maestro, Mastercard, and Visa.
Another downside to credit cards is not all banks will allow gambling transactions. Depending on which country you live in & the gambling laws, certain banks won’t allow deposits & will not process withdrawals. For this reason, many online casinos offer withdrawals via Bank Transfer if you have deposited with a credit or debit card.
Bank Transfers are one of the slowest online casino payment methods, but they are reliable, with cash out options available for many countries worldwide. The limits for bank transfer vary from site to site, but in general the minimum is around the $100-$300 mark. Maximum withdrawals will vary for each casino, with most sites allowing $4,000-$10,000 per transaction.
An E-Wallet is the shortened name for an Electronic Wallet. This digital payment method allows customers to securely store funds in an online wallet. From this account, it’s easy to make deposits & withdrawals at the best casino sites.
One of the key advantages of using an E-Wallet compared to credit cards is that it offers a layer of privacy. When you use a credit card, you risk your personal details. So if you mistakenly play on a dodgy site, you run the risk of your details being compromised. By using an e-wallet, all they see is the email/name of the account, keeping your personal banking details safe & secure.
Using an E-Wallet at a casino is friendly. In the cashier section, there will be an option for the different digital wallets in the deposit menu. Pick your type of wallet, enter your deposit amount, and your email address, and you will be taken to a secure payment gateway to process the transaction. The funds will be available immediately in the casino balance. Some of the most popular types of e-wallets used at online casinos in 2021 include eZeeWallet, Luxon, MiFinity, NeoSurf and SticPay.
MiFinity is a popular e-wallet that allows users to fund their wallet with up to $5,000 per transaction, and $10,000 per day. The brand has been around since 2002, is licensed & regulated by the FCA in the United Kingdom, and offers services around the globe. Users can fund their online wallet using Bank Transfer, Credit Cards, Crypto Currency, Prepaid Vouchers & other secure options. Many online casinos accept this type of payment in 2021, including Bizzo, National, and Woo.
EZeeWallet is a new digital payment solution that came out in 2020. It’s the online wallet solution from a payment gateway provider called eMerchantPay. This brand has been around since 2002 and operates globally. They are regulated by the FCA in the UK and offer a secure digital solution that’s fantastic for casino players. Users can fund their accounts in various currencies, including AUD. They accept deposits from NeoSurf and Poli internet banking. The minimum you can fund your eZeeWallet account is $20, and the maximum is $4,000 per transaction.
Prepaid Cards & Vouchers
There are many prepaid cards & vouchers that online casinos accept. These types of payments are ideal for recreational gamers looking for a simple online solution that can be paid for using cash at local stores. It offers a secure way to play at online casinos without credit cards or online bank accounts.
NeoSurf Voucher options allow you to deposit in pre-determined denominations of $10, $20, $50, $100, or $200. This payment method is perfect for recreational casino players. Most prepaid card & voucher options are capped and not ideal for those seeking to deposit $1000s and play high limit slots.
AstroPay Card is another popular prepaid card widely accepted at online casinos. Just like other card & voucher payments, the limits available are more suitable for casual & recreational players. Using AstroPay, you can deposit $10, $20, $50, $100, or $200 on most sites.
CashToCode is a famous prepaid payment option widely used across the world. It lets anyone make online payments using a voucher paid for with cash. These vouchers are available at participating retailers and allow users to make small online deposits up to $200 at online casinos.
Crypto Currencies are the newest payment method accepted by online casino sites. This new form of digital currency has boomed in popularity after Bitcoin and other popular coins started gaining mainstream attention. In 2021, many of the best online casinos accept the most popular types of crypto.
Crypto currency is a form of digital asset, with people using digital wallets to send & receive the tokens, and all transactions recorded on a decentralized blockchain ledger. This makes it fundamentally different from standard banking institutions that rely on a centralized model, often corrupted by people in charge.
A crypto coin’s value is tied to the supply & demand of the market. Unlike traditional currencies, most types of crypto have a hard cap on the supply of coins. Due to this, the price of tokens can fluctuate regularly. The most popular types of crypto accepted by casinos are also highly ranked, and have the most price stability & liquidity, making them ideal for deposits & cashing out into normal currency.
The main crypto currencies you can use to play casino games are Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, and Tether USDT. Crypto coins offer users the benefits of anonymity, privacy and rapid transactions with high limits that are perfect for high roller players. Most sites accept crypto deposits starting in the $20-$50 range, with maximums available for up to $100,000.
Frequently Asked Questions
How do you pay an online casino?
There are several ways to pay an online casino to play the latest games. Most sites accept deposits with credit/debit cards, electronic wallets, crypto currency, prepaid cards & vouchers, and bank transfers. The casino site will provide a secure cashier section to make deposits & withdrawals from.
Do casinos use PayPal?
While there are some online casinos that accept PayPal, this isn’t too common in the industry. Due to compromised PayPal accounts & disputes, many online casinos don’t accept this type of payment method.
What are the most popular payment methods in 2021?
The most popular payment methods players use in 2021 are Crypto Currency and E-Wallets. These newer payment methods offer more security, larger limits, fewer fees, and quick cash outs. Popular ewallets include eZeeWallet, Luxon, MiFinity, NeoSurf, and SticPay. The most widely accepted Cryptos are Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
What are the best online casino payment methods for high rollers?
Cryptocurrencies like Bitcoin, Ethereum, and Litecoin offer the highest limits for online casino high rollers. Many sites will allow deposits up to & often exceeding $100,000 per transaction. You will need to read the casino site’s terms & conditions to determine which ones offer the biggest cash-out limits to suit your playing style.