Selecting where and with whom you play your favorite online slots with when you are ready to wager money is important for several reasons. You need to ensure the casino you pick is safe, licensed and accredited, what payment options do they accept for both deposits and withdrawals, which is easiest and safest and what are the joining bonuses.
Many casinos will offer bonus credit or free spins when you join, so shop around. There is now a plethora of ways to keep and move money, E-wallets and Bitcoin Casinos have grown hugely in popularity, but what are they and what are the benefits and downfalls of different casino payment options.
Play Using Credit/Debit Cards
This is one of the easiest and most reputed ways to transfer money online. Almost all casino software will accept this popular and safe money transfer. Visa and MasterCard are the most well know and accepted, but you will also find casinos that accept American Express and other less well-known cards. On the whole, you shouldn’t be charged for using debit, but using your credit card may carry a charge of between 08-1.3%, but has the added advantage of letting you access credit to play.
Visa is more widely accepted than any other card and deposits are easy, most casinos won’t charge you for using visa, but check the casinos T&C’s to make sure.
There are some drawbacks; payments are slower than using an E-Wallet, but more importantly whilst almost all casinos will accept visa to deposit cash, a considerable amount will not let you withdraw to your visa card if they do it can take a few days to arrive in your bank balance. Visa must have been your method of deposit to use it for withdrawals.
As the second most popular debit/credit card on the scene MasterCard features many of the same advantages and disadvantages of Visa. Again simplicity, speed and availability make it a top payment method, but there are less MasterCard casinos than Visa and withdrawals are becoming more difficult.
Again, this must have been the deposit method to withdraw, it will take 3-5 days before the withdrawal arrives in your bank and if it is your first withdrawal you may have to go through the process of submitting evidence of your identification (this is always best to avoid online, you would never be advised to give your banking and identification to one company).
American Express and others
When trying to use AMEX and other less well-known credit cards it is more likely the casino will reject the transaction. For AMEX this is due to strict legislation about online gambling within America. If you wish to pay with card, it is best to stick with Visa or MasterCard.
If you are betting on credit ensure you are gambling responsibly and check your banks and the casino’s T&Cs for charges to credit cards.
E-Wallets: Anonymous Casino Transactions
E-Wallets allow you to store all your banking/card info under one account safely. They offer instant transactions for both deposits and withdrawals. Here are some of the main E-Wallets accepted by casinos.
This is the most popular and well-known E-Wallet on the market, due to its lucrative partnership with eBay. However, for casinos it only allows transactions from a shortlist of European countries, namely Austria, Denmark, Finland, Germany, Ireland, Italy, Portugal, Spain, Sweden or UK. There is strict PayPal internal policy that essentially vets the casino, meaning by and large, if you are playing and paying at a PayPal casino it is a sign of safety and that the casino is fully licensed.
Withdrawing should take less than 24hrs and is simple. There are no fees to deposit a balance, but you may incur a charge when withdrawing, you should also note you can only withdraw with PayPal if it is your method of deposit. There is commission on currencies and PayPal uses their own exchange rates.
Both Neteller and Skill have greater online casino presence than PayPal. Neteller is one the most used payment method for casinos, handling a large percentage of transactions.
Neteller is not US friendly and there are charges, but you can often find commission free Neteller casinos. It is a fast and safe payment option as no information is shared with the casino other than your Neteller account ID. They do charge for currency commission at over 3%.
Rivaling both Neteller and PayPal, Skrill is similarly convenient and safe to use, it is widely accepted for both deposits and withdrawals, but also carries commission charges, which can be negated by finding a commission free casino- essentially the casino is paying the charges for you.
Offline Banking Options
You can also use bank wires cheques and bank drafts by going into your bank in person if you prefer to avoid online methods. This is the most time exhaustive option and there may be a fee incurred by you.
A New Way: BitCoin Casinos
Virtual currencies are on the rise, BitCoin offers safe security protocols, small fees and anonymity; it is also easy to use with the US. You’ll even find solely BitCoin casinos and software, but using BitCoin will restrict your casino choice as not all offer it. It beats banking methods on speed, offers low fees, but is not government regulated as with real currencies.
Casino Payment Methods: Our Advice
There are many payment options available to gamblers, unfortunately, those in the US are most restricted due to legislation; the rest of us have a much easier time and a plethora of options, when it come to choose a casino and start to play for real. here some advice to keep in mind:
- E-Wallets are the easiest and most convenient options for safety and speed
- You need to pick a payment option you feel comfortable and safe using
- check out all commission payments and rates along with licenses at individual casinos before you decide where to play and how to pay.