The Best Payment Method to Use When Depositing at an Online Casino
When it comes to looking for the best online casino where you can play your favorite games, there will always be a few factors to consider. All these factors will add up to convenience and this is something that you should always look for whenever you make a transaction online.
When it comes to these important factors that you should consider when choosing the right online casino, you should always include the online casino payment options that you can use to be able to make deposits to your account.
Thanks to technology that made transacting online safe and secure, there are now many easy and convenient ways for you to make a deposit to your casino account. Don’t know what your options are just yet? Well, keep on reading as we’ve rounded up the best payment methods that you can use when depositing money into your online casino account.
Credit and Debit Cards
This remains to be the more popular to many people when it comes to transacting online. Most popularly used credit and debit cards are under the names Visa, MasterCard, and American Express. This is most likely accepted by almost all online casinos as it still remains convenient. You usually only need your card number and the security code to be able to transact with your debit or credit card. You can also use these even if you’re outside the country or on online casinos that are based offshore.
What you should know, however, is that in the UK, the locals and residents are no longer allowed to use credit card payments on any gambling activity. This is included in the fight of the UK Gambling Commission against gambling problems or addiction.
Digital or E-Wallets
It has already been years now since the presence of digital wallets dominated the online transaction scene. The most popularly used e-wallets right now include PayPal, Neteller, Skrill, and EcoPayz and EcoCard. This is literally an online wallet where you can store money so that your online transactions will be fast and easier.
These digital wallets also promise extra protection to its users. For example, PayPal protects its users from sellers or merchants by being able to process refunds themselves. This means that if you encounter any problems with your deposit, you can also contact the digital wallet platform itself and file a complaint. This can be a quicker way for you to get your money back and you’ll feel more comfortable when transacting online because all your transactions are recorded and can easily be tracked.
It’s only a few years ago when cryptocurrencies like Bitcoin, Ethereum, Ripple, DogeCoin, BitcoinCash, and many others have dominated the online payment industry. This is mainly thanks to how the value of Bitcoin peaked at 20,000 US dollars in 2017.
Since then, many businesses started to embrace its use including the online gambling sector. Currently, there are now many online casinos that accept cryptocurrencies. There are even online casinos that are only dedicated to Bitcoin players or users. That’s how cryptocurrencies have dominated that online gambling scene.
Many casino players are shifting to the use of cryptocurrencies for a few reasons. Anonymity is one thing as you only need a cryptocurrency wallet address to process a Bitcoin transaction. This is also a better option if you want to avoid the hassles that banks could give whenever they process gambling-related transactions.
Lastly, because cryptocurrencies are decentralized, it’s generally cheaper to use. This is why online casino operators are also keen to use this. Because it’s cheaper to use, these online casinos can then offer better bonuses and rewards to their players.
There are a few options for you when it comes to offline banking. This includes bank wire transfers, writing checks, and processing payments with Western Union or MoneyGram. We can say that these options are more traditional and many would still use it because these make them feel more at ease.
For bank wiring, this just means that you can visit your bank and have a representative do the transfer for you. For Western Union and MoneyGram, it’s either you visit an actual store or establishment or phone in your payment. However, for these methods, expect that you will have to pay an additional convenience or processing fee.
The truth is that for offline methods, the process is more gruesome. However, many would still prefer this because there still are people who are iffy about online transactions. This is just really the best method if you’re someone uncomfortable disclosing any of your information online.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes