Switching from traditional brick-and-mortar casino rooms to online operators can leave you confused, especially when it comes to payment systems. Instead of buying chips at the cashier, online casinos require that players register on the website and navigate to their account where they will have several options for deposits and withdrawals.
There are more than a few payment methods online casinos offer. In this article, we will explain how they are used, what the differences between them are, and what advantages they bring to players. Here we go.
Credit And Debit Cards
Without a doubt, credit and debit cards are still the most widely used payment systems among online gamblers. People have gotten used to paying for stuff over the web with their credit cards, and most middle-aged players prefer this method as they are accustomed to it and they find it convenient.
Visa and MasterCard cards are accepted in almost all online casinos, while you can also stumble upon brands such as American Express, Discover, and a few others. During the registration process, you will provide the casino with your credit card details, and you’ll be able to use the card for both deposits and withdrawals.
Be careful, though, as credit card transactions do involve some fee charges that are usually about 1% of the total sum. While the deposits are almost immediate, the withdrawal process can have you waiting for several business days before you can get your winnings.
Convenient, easy to use.
Transaction fees, slow withdrawal times.
Tailor-made for internet banking, e-wallets are neck and neck with credit and debit cards when it comes to online casino transactions. Instead of having several different cards for making payments on the web, e-wallets allow you to use a single service where you can put all of your card information.
Every casino offers at least one e-wallet service on their website, and the majority of them include several. The most popular e-wallets in online casinos are Skrill and Neteller. Others that you might find include PayPal, Zimpler, Trustly, EcoPayz, and a few more. Just like with credit and debit cards, the withdrawal period can take up to several business days.
There might be some fees that can be imposed by both the casino operator and the e-wallet service. Nevertheless, e-wallets represent one of the most effortless ways to fund and collect winnings from your online casino account.
Excellent for online payments, easy to use.
Transaction fees, slow withdrawal times.
Bank Wires And Checks
Often considered outdated, bank wires and checks are still available in online casinos. However, they are starting to die out. The main issue with these offline payment systems is that you need to go to the bank and ask the bank clerk to transfer the money to your casino account. It is tedious and inconvenient, especially nowadays when you can transfer money with a few clicks.
Nevertheless, some players feel more at ease when they make casino transactions this way because it is safer. Nobody is going to be able to hack into your online payment account, and you can be sure that the money will be transferred to your casino through a legitimate method.
As far as the transaction times go, bank wire and check transfers are the slowest of them all. However, this payment method has one massive advantage over others — the limitations. Bank wires and checks usually have higher deposit and withdrawal limits than other methods, which makes them an excellent option for high rollers.
High limits, secure.
Time-consuming, complicated, slow withdrawal times.
Cryptocurrencies, the newest member of the casino payment methods family, are starting to intrigue gamblers since they have many advantages. Unlike many other payment options, crypto transactions have instant withdrawal times, not counting the withdrawal pending period imposed by the casino.
There are usually no fees when you deposit and withdraw with a cryptocurrency, deposit and withdrawal limits are high, and the players are not required to share any of their sensitive banking details with the casino.
Bitcoin is still the most frequently seen cryptocurrency in the casino world, and you can play Bitcoin casino games on many sites nowadays. Other brands include Litecoin and Ethereum. A large portion of online casinos hasn’t caught up with the cryptocurrency trend yet, but that’s probably because a lot of people still don’t use them or don’t know how to use them.
High limits, small or no fees, fast transactions, anonymity.
Relatively rare in online casinos
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