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While most online gambling platforms feature many payment options, diversity does not always mean quality. Accepted currencies, fees, country restrictions, bonus restrictions – these are all factors you need to consider when choosing a banking option for your next deposit.
To save you the research time, we’ve reviewed the six most common transaction methods at casino platforms. Check out our list and discover which option is best suited for you!
Visa
As a worldwide brand accepted in almost every industry, Visa is also appropriate for online casinos. Since nearly every bettor has a Visa card in their pocket, they are usually the first choice for instant deposits at online casinos.
To make a payment, you’ll need to add the card details and enter a confirmation code sent to you separately through a text message and/or email.
Transaction limits
Minimum deposit limits for most casino operators start at $10, while for withdrawals, the amount cannot be less than $20. The maximum cashout limits vary significantly between sites and usually don’t feature fees.
How long does the payment process take?
Withdrawals are approved in one day; however, banks usually take longer to process the payment and transfer the money to your card. The average withdrawal processing time is five business days.
The best thing about using Visa is that it’s rarely excluded from the bonus offers, so you can easily deposit and claim bonuses at any gambling site.
Mastercard/Maestro
As the main competitor of Visa, Mastercard is a similar payment option accepted at almost every online casino in the industry. However, many countries, such as the UK, don’t allow credit card payments for online casinos, so you can only use your Mastercard or Maestro debit card.
How to use Mastercard
This is a two-way payment method. The deposits are instant and can range between $10 and $10,000, depending on the online operator.
On the other hand, withdrawals are somewhat more limited, usually ranging between $10 – 5,000. It takes around 24 hours for the online casino security teams to process the request and 2-4 days for the bank to transfer the funds.
The withdrawals are usually free of charge, but on some platforms, a 2% fee may be applied. It’s also important to note that some US online casinos don’t support cashouts with this method.
Skrill
Skrill is one of the most common eWallets for online gambling platforms nowadays, and it is featured as a two-way payment option on many online sites.
Thus, it’s no surprise that almost every online operator features this payment method. The transaction features multiple safety protocols.
How do I create a Skrill account?
Making a Skrill account is free and takes just a few minutes. At most casinos and sportsbooks, the transaction limits are relatively high, enabling you to deposit and withdraw large amounts of money. Moreover, all deposits are instantaneous, and withdrawals take 24 hours to show on your Skrill balance once the casino team has processed your request.
Skrill has a native app you can use to manage your account from a portable device. The digital wallet covers almost all popular currencies, and the payments are fee-free. The only exceptions to this rule are currency conversions, where a 3.99% charge is applied.
Restrictions of payments
Keep in mind that some casinos restrict Skrill payments from their bonus offers. This means your Skrill deposit won’t qualify for some promos, and/or you won’t be able to play particular games.
Jeton
This e-wallet is available in 200 countries and has over half a billion users, making it a popular payment service. However, compared to Skrill or Neteller, it is much less available at online casino sites.
A versatile electronic wallet
Jeton offers a high level of security and allows you to make fast deposits and withdrawals. It operates with over 50 fiat currencies and even accepts some crypto coins for deposits (Bitcoin, Litecoin, Ethereum, Ripple, Dogecoin, etc.).
There’s a user-friendly app you can download on Android and iOS devices, so you can quickly make payments and proceed to bet on the go.
Neteller
Neteller is another popular e-wallet and the preferred choice of many online bettors. It is available globally, with a few restrictions in central Africa and Asia. Like all other premium digital wallets, Neteller acts as a barrier between your bank account and casino account. It also employs anti-fraud technologies and many encryption layers to ensure the absolute security of your data.
Benefits of Neteller
This payment method features fast deposits and withdrawals, with higher than usual limits on all transactions. It is widely accepted, so you’ll have no problem using it at your favourite wagering site.
Unlike Skrill, this e-wallet charges fees every time you transfer funds to your Neteller account. It supports a wide range of traditional currencies and allows currency conversions, explaining why it is so popular among regular online players.
Crypto Transactions
Cryptocurrencies have surprised the online world, and that includes online gambling platforms as well. Bitcoin, Litecoin, Dogecoin, and numerous other crypto coins have become integral payment options at almost all modern casino sites. Moreover, some new gaming platforms accept only cryptocurrency payments and use that as a marketing point.
The main benefit of crypto transactions at casino sites is anonymity, as they provide an extra layer of protection both to the online operator and the player. Thanks to blockchain technology, once a crypto transaction is made, it cannot be edited or reversed, reducing the risk of fraud.
Another advantage is the low processing fees, which can be as little as 0.5%, significantly less than those applied to payments with traditional currencies (2-3% on average). In addition to transactions being private, they are also fast. Both deposits and withdrawals at casinos and sportsbooks are completed within seconds, and you don’t have to wait for processing times.
Crypto payments will soon become a normality
Anyone with an internet connection can make crypto payments from any part of the world without paying any international fees or being restricted by min/max limits. That is why this type of transaction is so viable for users. No matter where you are, you can make limitless purchases faster.
