The world of online gambling has gone from strength to strength over the course of the last two decades. The allure of big wins and the ease of being able to play anytime and anywhere on a mobile device has helped to make gambling more appealing than ever before.
In addition to that, new exciting game modes and features like live dealer casinos (click here to see the full list of live dealer casinos) are bringing in more and more new players. With increased playing numbers it has become increasingly important for online providers to have seamless and secure payment systems.
In this article we explore some of the most popular payment methods for online and mobile casinos. Whether you’ve been wagering online since the advent of the very first remote casino or are a newcomer, understanding these payment options will help to ensure you have a safe and smooth gaming experience.
Credit and Debit Cards
The bread and butter, route one option is to use a credit or a debit card to make your deposits and withdrawals. The vast majority of online casinos accept the major card providers like Visa, Mastercard and American Express, although be sure to double check with the latter as some will not accept Am Ex.
The main benefits of using credit and debit cards is that they are easy to use, typically always on hand and deposits made by this method usually appear instantaneously in your gambling account. In terms of protection, credit cards typically offer a higher level of anti-fraud protection than debit cards.
Do make sure to check with your bank or lender before making your first deposit as some organisations block online casino transactions as a matter of course.
Crytpocurrency
A decade ago the thought of wagering online with cryptocurrency would have been the stuff of science fiction, but for many avid online gamblers it is a day to day reality. Bitcoin, Ethereum and Litecoin have completely revolutionized the online casino industry.
Crypto transactions are decentralized and, thanks to the use of Blockchain technology, incredibly secure. The two main benefits of using crypto to make your online casino deposits are privacy and ease.
Firstly, as the majority of crypto transactions can be made anonymously, you don’t have to share any sensitive personal information with an online casino. In the day and age of repeated data breaches, that is a major plus point for privacy concerned individuals.
Secondly, crypto is the fastest way to make a payment so there is no hanging around for the gambling fan whose chosen payment method is crypto.
Sounds great so far, so what about the negatives? Well there are a few, but the main, most obvious drawback of using crypto to pay for anything is volatility. When you pay for goods or services with pounds or dollars, you can be relatively sure that the very next day, the money you spent will be worth the same.
With crypto, you could use coins worth £10 today that go on to be worth £100 tomorrow. Laszlo Hanyecz, the man who bought two large Papa John’s pizzas with 10,000 Bitcoin in 2010 is the perfect cautionary tale. Had he held on to those Bitcoin he could have sold them for $3.7 billion less than a decade later…
E-Wallets
Rounding of the top three most popular payment methods used at online casinos is the e-wallet. PayPal, Skrill and Neteller are three examples of e-wallet providers that have grown in popularity over the past decade.
To use one, you’ll need to set up an account and make a deposit into your e-wallet using you credit or debit card or via bank transfer. Once you’ve topped up your e-wallet you’re free to start using it to make deposits with online casinos.
The main benefit of using one of these e-wallets is that they never share your bank details with the merchant. In addition to this, there is typically a higher level of protection on offer from e-wallet providers should any payment issues arise.
In Summary
The world of online gambling has come on leaps and bounds in recent years, making it easier than ever before to gamble on the go. Don’t let that ease of play detract from the fact that you are wagering with real money though.
It’s just as important when playing online, to stick to your playing budgets, never spend more than you can afford and to make your deposits and withdrawals with a safe payment method such as the ones discussed above.
