Online casinos offer fast and secure transactions due to the majority of payment methods available today. However, many gamblers overlook this feature for various reasons. They forget that a banking method can positively or negatively impact their gambling experience when gambling with the no deposit casino bonus Canada. For instance, a reliable payment and withdrawal channel translate to a seamless gambling adventure for gamers and gambling service providers. Given the importance of banking methods, this guide reviews the best payment methods offered by online casinos today to help you select the right one.
Prepaid cards are more popular than traditional banking methods among online casino gamblers. Unlike debit cards, prepaid cards allow players to wager using the funds they have already loaded to their cards. They are preferred because players don’t have to worry about exceeding their intended budget. The method is popular among high stakes as well as gamblers with limited funds. Some of the types available today include prepaid visas, Paysafe cards, and Maestro cards.
The other benefits of using prepaid cards include:
- They allow you to deposit your wagering funds instantly.
- They allow you to manage your money effortlessly.
- Prepaid cards sometimes offer deposit bonuses.
The financial market has witnessed a huge revolution since the introduction of the first bank card in 1967. Currently, there are hundreds of them, with each having different benefits. For instance, debit cards offer loyalty rewards to their regular customers. On the other hand, credit cards allow you to place wagers even with limited funds. Here are some of the bank cards accepted in online casinos today:
Visa is popular among real money casino gamblers as it is easy to use, plus most casinos don’t charge transaction fees if you are using Visa. Although Visa is among the most accepted banking methods globally, it has its drawbacks:
- Their payments are slower since they must be processed for security reasons.
- Most casinos don’t accept Visa withdrawals, and if they do, it may take some time to process.
- Most reputable banks won’t process your gambling transactions if you are using Visa.
MasterCard is the second most popular credit/debit card from Visa regarding online casinos payment methods. However, it also shares the most advantages and drawbacks of Visa. For example, MasterCard is simple and fast, making it popular among online casino gamblers. However, most online casinos won’t accept MasterCard withdrawals unless you deposit using this channel. Another drawback is that it takes 3-5 business days to process your withdrawals. This is because you must submit evidence it’s you who is withdrawing the money. This feature helps avoid theft and fraud.
AMEX is not as popular as Visa and MasterCard. For that reason, the method is more likely to frustrate you since many casinos will reject your transactions if you use this banking channel. In addition, one reason it would bounce is that countries like the US have strict regulations regarding online gambling. Therefore, we would advise you to stick to Visa and MasterCard to avoid inconveniences.
Note that Maestro is primarily available as a debit card, contrary to Mastercard, which comes in credit, debit or prepaid cards. Although Maestro can process your deposit instantly, many casinos won’t process your payments if you withdraw using this method. Additionally, it only allows you to spend what you have, unlike credit cards. However, Maestro guarantees safety, anonymity and convenience while gambling online.
Since the introduction of Bitcoin in 2009, the cryptocurrency has gained multiple use cases. Currently, there are several casinos accepting crypto payments, and others have adopted blockchain technology. Some advantages of paying using crypto include: It is a fast payment method since it doesn’t need third parties for transactions to happen. Secondly, it offers an entirely anonymous transaction since you don’t have to give your personal information while using crypto payments.
Some of the coins accepted here include:
Although bank cards, crypto payments and prepaid cards have a massive following in the online casino space, e-wallets are a force to be reckoned with. Most e-wallets act as a link between traditional banking systems and online casinos. As a result, they offer fast, secure and convenient transactions. Although there are several e-wallets out there, here is our recommended list you can select from:
Most casinos will accept your PayPal deposits without the need for intermediaries. For that reason, PayPal has gained popularity among online casino gamblers over the years. However, the platform only accepts transactions from limited European countries. They include Portugal, Australia, Finland, Turkey, Denmark, Germany, Italy, Ireland, Spain, the Uk and Sweden. When transacting using PayPal, expect its strict internal policy, which they use to vet online casinos. This means that any PayPal casino you play on is most likely regulated and licensed by a reputable gambling authority.
Even better, Paypal withdrawals take less than 24 hours and offer a user-friendly interface to enable you to do so. In addition, its deposit fees are free of charge, while its withdrawal fees depend on the casino of your choice. Note that you must have deposited using PayPal for you to withdraw using this method.
Skrill operates in more than 120 countries, with a significant number of its customers being gamblers. It is safe to use, convenient and accepts both deposits and withdrawal, unlike most banking channels. However, you may incur charges while using this method, depending on the casino you choose to stake your money.
Neteller is owned by Paysafe Group and is among the first e-wallets to allow gambling payments. Similarly to Skrill, Neteller has gathered a huge following among online casino gamblers. However, you may incur charges while using Neteller, especially in US-based casinos. But that should not hinder you from enjoying your gambling adventure as there are commission-free Neteller casinos out there. The best part of using Neteller is that it guarantees safe and fast transactions among internet gamblers. Its safety is primarily because you don’t have to provide your personal details apart from your Neteller account ID. However, expect a currency commission of 3% or more when using Neteller.
Ecopayz is an award-winning payment method and is among the few platforms that charge low transaction fees. Even better, the platform has an app that ensures you enjoy fast and convenient transactions.
Since gamblers have several banking options to choose from, it’s up to them to choose the right one. For instance, some are traditional and have been in existence for years, while others are new and are fast and convenient. In addition, some are not suitable for gambling addicts, while others limit how much you can stake. For instance, credit cards allow you to gamble with borrowed money, while debit cards only allow you to bet what you have.
However, before choosing the right one, ensure you read its terms and conditions, requirements, and transaction fees to avoid inconveniences.