Introduction

For several years, the online casino industry has been one of the fastest-growing industries in the world.

According to Global Online Gambling Market Report, "the global online gambling market grew from $58.9 billion in 2019 to $66.7 billion in 2020 at a growth rate of 13.2%." This can only mean that more players and casinos are emerging in the industry.

Irrespective of your location, you will find several casinos online available for your gambling needs; unless your country's domestic laws restrict you from gambling online.

However, not all casinos on the internet are safe or can be trusted. Some are also not secure. That's why you have to be careful when choosing casinos, especially when you will be betting with credit cards. You should only go for legitimate casinos that are licensed with reputable authorities.

In this article, you will learn how to gamble with cards and the safest casinos online that accept credit card payments.

Safest Online Casinos that accept credit cards in 2020

Las Atlantis

Although Launched in 2020, Las Atlantis has proven to be a secure online gambling platform that gamblers can play games and wager real-money without fear of hack or unfair play. Las Atlantis features a Curacao license and is SSL secured.

Betway

Another online gambling secure site you can play at with credit card is Betway casino. This online casino has a positive reputation online and is known to uphold fair play. You stand to gain other exciting features when you play at this casino.

Jackpotcity

Jackpotcity Is one of the most trusted casinos in the market. It is licensed by the Malta Gaming Authority and is ecogra-certified. At Jackpotcity, you can deposit with credit cards and a wide range of other safe and secure payment methods.

Gambling using a credit card: How it works

Credit cards have become one of the most popular ways consumers pay for goods and services. However, not many people know that you can engage in online gambling with a credit card. Well, this is basically because you won't find many credit card companies making that offer.

Credit card providers that allow you to gamble online with your credit card would treat your gambling expenses as cash equivalents. Meaning the charges would be seen as cash advances or cash withdrawals. It is just like taking loans for gamblers.

Most commonly accepted credit cards include American Express, Visa and MasterCard.

It is important to note that casino credit card cash advance attracts additional fees. Depending on the card provider, the fee varies from 3% to 5% on any transaction.

Importance Of Payment Methods

Apart from card gambling, there are other payment methods that can be utilized at casino sites. The question is "Why are they so important?"

The payment options at online casinos are essential for several reasons. Firstly they help you know how and when you can deposit at the casino. Without them, it is almost impossible for you to fund your casino account. If you can't find your account, you won't be able to play for real money or win prizes.

Secondly, they assist you in withdrawing your winnings from online casinos. After playing and getting lucky enough to win, you would want to cash out, and that can only be possible with payment methods.

Also, you have a variety of choices when it comes to selecting which method works best for your particular situation or needs. The importance of payment or banking methods can't simply be negated at an online casino.

Choosing a safe online payment method

One of the first things you would want to check while choosing an online payment method is if it's safe or not. Making online payments is a risk on its own since it could be intercepted by hackers, even with technological advancements.

That's why the safety and security of your funds and information should be your predominant factor before using a payment method.

To determine whether a payment method is safe or not, look at its type, and reputation of the company issuing it.

Payment methods like credit and debit cards are secure because they are connected to banks with strong security measures. You can also make use of e-wallets like PayPal, Neteller and Skrill.

What should you think about before using a credit card for gambling?

There are several things you need to consider before you start using a credit card to gamble online.

Interest rate

The interest rates you will incur from getting cash advance on most credit cards usually come at a higher rate than regular purchase APR.

Cash advance fee

The card provider will charge you a casino credit card cash advance fee which is usually between 3% and 5%.

No grace period.

Cash advances on your credit cards do not merit the standard grace period of up to 25 days. What this means is that interests start reading the moment you carry out a gambling transaction with your credit card.

No reward points

You won't be able to earn reward points when you gamble with your credit card. However, this doesn't mean that you won't qualify for casino credit card rewards.

No cashout

You might not be able to use your credit card to withdraw your winnings at an online casino.

Is gambling with a credit card a cash advance?

Yes, when you gamble online with your credit card, you are taking a cash advance. Here are the most important things you should know about cash advances.

• You will be charged about 3%-5% on every of your gambling expenses.

• A cash advance has a high APR.

• Cash advance on American express card and other cards are not eligible for reward earning.

Choosing the best payment method for you

Although safety is paramount, there are other factors you have to look at to choose the perfect payment method suited for your needs. They include; the reputation of the payment gateway, acceptability in your country, speed of transactions, ease and cost of usage and several others.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes