There are plenty of things to think about when it comes to gambling at online casinos, but one of the things people consider last is banking methods. However, it’s exceptionally important to consider how you’ll add and withdraw funds before signing up.
On this page, we’ll be looking at the most popular ways to deposit and withdraw at an online casino, so you can better understand what to consider before signing up.
Debit cards are by far the most popular way to deposit money at online casinos. This is because they’re exceptionally convenient – pretty much everyone looking to bet online will already have a debit card for everyday use, so there’s no need to sign up with something new. Banks also protect transactions well, plus transactions are both instant and free.
Please note that credit cards also used to be popular, but the UK government has now banned online gambling sites from accepting credit cards.
E-wallets are also exceptionally popular with online casino players, especially with those looking for a buffer between their bank account and their online gambling account. Popular e-wallets include PayPal, Neteller and Skrill, all of which offer free accounts. However, there are fees charged for using an e-wallet to send and/or receive money.
You’ll find that e-wallets are accepted at the majority of online casinos. However, be slightly careful, as some gambling sites ban those using e-wallets from claiming bonuses, in an effort to persuade customers to use methods that cost the site less money to process.
Pay by Phone Bill
One of the newest ways to deposit online is pay by phone bill. This allows you to make a deposit incredibly quickly using your smartphone, with the cost of the deposit added onto the bill you pay at the end of the month.
Of the wide range of banking options available at online casinos, this is perhaps the most convenient for mobile players, plus it also offers exceptional security, as you never have to input banking details online. However, the fees charged by pay by phone bill companies are notoriously high.
Cryptocurrency has been eagerly adopted by many online casino players, but many others are still unfamiliar with it. There are many cryptocurrencies, which can be bought at online exchanges, and their values waver pretty erratically – something that can be an advantage and a disadvantage.
The biggest reason to use cryptocurrency online is safety. All transactions are protected by blockchain technology, plus there’s never any need to give your banking details out. Also, the cost of using crypto is incredibly small.
Shop Bought Vouchers
Finally, there are shop bought vouchers, the biggest of which by some distance is Paysafecard. You simply head to a participating retailer, purchase the card, and then use the code on your card to deposit.
Using Paysafecard is completely free, plus ensures you never have to enter personal details online. However, the fact that you have to actually go out the house and visit a shop means that it’s far less convenient than other methods.