Payment Methods in Online Casinos: A Comprehensive Comparison

Online casinos can be exciting but a little scary if you don’t know what you’re doing. Whether you need to deposit money or take it out of your account, it can be stressful to determine which is right for you. To have a seamless experience, you should know the various ways to pay in an online casino.

If you’re interested in learning more about the payment methods available for online casinos, you’ve come to the right place. The more you know about various available payments for online casinos, the easier it will be to decide what you want to use in your online casino experience. Read on to learn about several popular methods of online payment.

Debit Card

A debit card is one of the best payment methods in an online casino because it takes the money directly from your account. Rather than having to pay back the bank eventually, the money will come out immediately, and you don’t have to worry about stumbling into credit card debt.

Typically, you must enter your bank account information into the system (usually categorized as ACH withdrawals, but sometimes your card info will work, too!). From there, money can be taken out if you want to pay, or any withdrawals can go right into your account. It’s a helpful, straightforward way to function in an online casino.

Cryptocurrency

More and more companies nowadays use cryptocurrency as a valid form of payment for online casinos. Bitcoin and other similar cryptocurrencies offer incredible security for those who own them - which means casinos can put their stock in the product from gamblers.

Bitcoin and other cryptocurrencies allow users to play online without location or other bank restrictions. However, it’s critical to note that not all online casinos accept cryptocurrency - you might need to look around until you find one that will take this desired form of payment.

Here at MintDice, we offer the option of paying with both Bitcoin and Ethereum, as well as a variety of other altcoins! 

Related: Can Crypto Replace Your Bank Account?

Cash

Sometimes, if you live close enough to a brick-and-mortar casino that has an online partner casino, they will let you deposit cash. Of course, this means you typically need to travel directly to the casino to deposit the money - which might not be ideal for all kinds of people.

Some examples of this include MGM’s online casino platform, which allows cash to be deposited into online accounts as well as Caesar’s Palace, which allows online betting with in-casino deposits. The Rio in Las Vegas allows cash deposits for their online poker platform only. Basically, don’t bank on this being an option for your favorite online casino, but it is always worth checking!

Wire Transfer

Unfortunately, there have been many risks with bank wire transfers as of late. However, in some casinos, strict security measures are put in place to ensure wire transfers are a safe way for players to withdraw or deposit money as they participate. 

Of course, wire transfers take time. Some of the longest wire transfers can take up to a week - which is a major pain if you don’t want to deal with a long wait for the payment to go through. However, if you want high security and don’t mind taking time, consider a wire transfer.

E-Wallets

E-Wallets are one of the most popular methods for paying in online casinos. These offer withdrawals and instant deposits with as little issue as possible, offering peace of mind for everyone involved. However, it’s critical to consider that there are sometimes additional fees associated with e-wallets.

Here are a few of the most popular e-wallets:

• PayPal

• Neteller

• Skrill

• Payz

Most e-wallets allow individuals to make an account and use their platform for free. Many of them also offer prepaid cards and other beneficial additions to make functions within an online casino even easier.

Credit Cards

Another popular method for payment in online casinos is a credit card - especially Visa. Most online casinos accept this credit card, so it will permit ample valuable transactions if you don’t mind the use of the credit function.

Here are a few things to consider when using a credit card for an online casino:

• Consider the terms and conditions of the casino to see if you are charged an additional fee

• Ensure the online casino you want to use accepts your credit card

• Protect the information as well as possible

Also, remember that a credit card is not withdrawing money directly out of your bank account. You will need to repay any money you use back to the bank, so take care with every penny you spend if you don’t have a lot to give. 

Related: Can You Use a Credit Card at a Casino?

Prepaid Cards

Another possible option is a prepaid card. These come with high-security levels and are accepted at many casinos. Typically, you pay for the card ahead of time and then use the card to make your payments at the online casino venue. It’s straightforward for anyone to access.

Here are a few of the most popular prepaid cards on the market for players:

• EcoPayz

• Paysafecard

Check to see what you have access to and what your casino accepts ahead of time.Some prepaid cards don’t even require a credit check, which makes them accessible for many. They’re great if you want more security and don’t want to deal with using your debit or credit card to play on the internet.

Final Thoughts

Each of these payments has been used time and time again to withdraw and make a payment on an online casino transaction. Ultimately, it’s up to you to determine which is the right choice for your life and your comfort level as an online player. Whether that means PayPal, bank transfers, or something in between is up to you. 

We hope this information was helpful! The more you know about the various available methods of online payment, the easier it will be to make the right choice. From debit cards to bank transfers, there are pros and cons to each of these tactics. Our goal is to make the process as easy for you as possible.

You May Also Enjoy: The 10 Advantages of Cryptocurrency Casino Gambling

This article was brought to you by the MintDice Bitcoin Dice Game. Originally posted to the MintDice Blog.