5 Best Payment Methods to Use in Online Casinos
Thanks to the huge rise of the online gambling industry, today’s players can choose from a wide variety of payment options when it comes to making deposits and withdrawals. However, choosing the right one often feels too complicated, as there are so many criteria to consider. We know how tiring it is to research several different platforms and look into their terms of use, so we decided to prepare a short guide that will help you understand the basics behind the top 5 payment methods you can use in online casinos.
Credit and Debit Cards
Credit and debit cards are surely among the most popular transaction methods in the industry. A large number of operators, if not all of them, accept credit/debit cards, and players can use them for both deposits and withdrawals. What’s more, they are widely recognized across the globe, so users have no reason to worry about compatibility issues. As for their practical use, credit and debit cards offer fast transactions that are usually processed in just a few minutes. Currently, the greatest concern regarding their use lies with security issues. Namely, the increased number of transactions has also led to a rise in credit card fraud. However, the leading card companies have advanced fraud protection policies in place in order to protect their users from malicious attacks.
iDEAL
iDEAL has been an active e-commerce payment system since 2005, and as such, it allows customers to make transactions on the web by making direct transfers from their bank accounts. Even though the system is mainly focused on the Dutch market, it has expanded to other parts of the world, primarily due to its convenience. As a result, it has also become incredibly popular among punters, and nowadays you can easily find amazing iDEAL casino sites that offer great gambling conditions. iDEAL is one of those platforms that keeps your financial information safe and secure, without sharing it with the gambling operator. Thanks to that, iDEAL is known for its high level of security. However, the platform only works for deposits; withdrawals are not possible.
E-Wallets
E-wallets like PayPal, Neteller, and Skrill are other extremely popular payment methods for online gambling. Besides the benefits offered by credit and debit cards, which include widespread acceptance and fast transaction times, they also provide users with added security. This extra layer of safety lies in the fact that all user information is stored on a secure server instead of being kept on the gambling site itself. E-wallets also allow plenty of flexibility since users can top up their accounts with a number of different cards. On top of that, some platforms treat loyal members to attractive bonuses and promotions. The main drawback of e-wallets is the limited number of currencies they support.
Prepaid Cards
Even though there are users who are simply not used to prepaid cards, this option is certainly among the top-rated methods offered by the majority of gambling sites. Systems like Paysafecard are one of the best ways to prevent your identity and other sensitive information from being recorded on an online gaming site. Basically, you buy a card, load it with cash, and after that, you can use it to make web-based casino payments. Therefore, you can finalize your gambling transactions and remain completely anonymous in the process.
Cryptocurrencies
Cryptocurrencies like Bitcoin, Litecoin and Ethereum are becoming more and more popular in the online gambling industry, and there are several reasons for that. Firstly, digital currencies are encrypted, which makes it almost impossible for hackers to access sensitive information. Next, they are decentralized, which allows users to gamble anonymously, since they are not subject to the same regulations as traditional currencies. Finally, the use of cryptos involves pretty fast transaction times. The main drawback here is the lack of widespread acceptance of cryptocurrencies in the industry. Not all operators support them, but they are surely moving towards that.
Online gambling involves the sharing of personal and financial information, and in order to do it all right, you need to know that you’ve trusted your data to a reliable payment provider. Now that you’ve learned all the basic information about the top payment methods in the industry, you will know exactly which platform to choose and how to make your first transactions.