Online Payment Methods in the Casino Industry
- 1.1 Debit Cards
- 1.2 Pre-paid Cards
- 1.3 E-Wallets
- 1.4 Cryptocurrencies
Online casinos must add payment methods to their websites and mobile apps for users to gamble with real money. The online casinos themselves do not develop their own payment methods, they already exist and are added to the casino for players to use when making deposits and withdrawals. Playing slots, table games, and live casino games for real money means using an online payment method and you will find some of the most popular payment methods in the casino industry below.
Top 4 Online Payment Methods in Casino Industry
Debit cards continue to be one of the most popular online casino payment methods. Anyone who has a bank account is likely to have a debit card and millions of people know how to use a debit card to make a payment online. Debit cards include fraud protection and you can speak to your bank if there are any issues. However, using a debit card allows the bank to monitor your spending activity. If you need to apply for a loan in the future, it could be used against you, even if you have gambled responsibly.
Pre-paid cards can be virtual and that means they only exist online but can be used for a variety of purchases, including making deposits at online casinos. Pre-paid cards work in much the same way as regular debit cards and you enter the number when making a deposit. However, you must add funds to the card, and they expire after a period. Pre-paid cards are easy to use, and you never have to add your personal card or bank details. However, you cannot withdraw any winnings to a pre-paid card and as they expire, you will lose any funds remaining on the card.
There are several options when it comes to using e-Wallets for online casino payments. PayPal, Neteller, and Skrill are three of the most popular e-Wallets and they are all accepted as a payment method at most online casinos. E-Wallets are quick and easy to use, once you have created your account all you must do is login to your account, enter the amount you want to deposit and click send. Using an e-Wallet means you do not have to enter your own bank details and you can often withdraw to many of the leading e-Wallets. Some e-Wallets charge commission for using some payment features and if you want to make regular deposits, this could become costly, so always do your research.
Cryptocurrency is a digital currency you can use online to trade and make payments for goods and services. Some online casinos have been created purely with cryptocurrency in mind and some regular online casinos have added cryptocurrencies to their payment options. Bitcoin and Ethereum are two of the most commonly accepted cryptocurrencies for online gambling.
Transactions using cryptocurrency are extremely quick and safe and casinos can use crypto to show their games are fair. However, getting involved in the crypto industry comes with a learning curve, it is not always easy to obtain, and if you accidentally send cryptocurrency to the wrong address, it is gone forever.