Online casino gambling is a hugely popular pastime for many in the UK and around the world. Any and all betting depends on one thing - money. As online casinos continue to claim more of the gambling market, players can be (quite rightly) concerned about how their hard-earned cash is being handled during online transactions and, once it’s arrived in their playing account, how to go about spending it wisely.
Luckily, the days of dodgy online money moving are mostly behind us. A multitude of secure, regulated and quick transaction options are available to players now and the biggest problem they face is how to choose which one to use. In this article, we will be looking at how to select a payment method that’s right for you and your gambling needs.
The individuals who gamble online are faced with many choices that they have to make. Which casino brand? Which games to play? Which bonuses to accept and which to pass on? When it comes to payment methods, it’s a fact that another choice has to be made and players are understandably anxious to make the right one.
The top consideration when making a choice of payment methods should always be security. You wouldn’t hand your wallet to a random person on the street, so why would you trust just any service with your money? Reputable, licensed casinos will always use trustworthy payment methods so picking a good casino brand is the first step.
Credit and debit cards are popular payment options but they do come with a slightly higher risk. Using these involves giving your account details to a third party i.e. the online casino itself. While a trusted brand won’t ever misuse this information, casinos are just as susceptible to infiltration as any other website. This is where e-wallets come in.
E-wallets like Skrill, Neteller and Paypal act as a sort of middleman between your bank account and the casino. Instead of divulging sensitive details like account numbers, you can use an e-wallet to make and receive payments with an added layer of security.
Not all payment methods are created equal and casinos often have different rules for different methods. When you come to choosing a method, visit the relevant page at your preferred online casino. This usually has a name such as Banking or Cashier or could simply be called Deposits and Withdrawals. You will be able to learn more about the methods available and how they can be used.
When it comes to deposits, you will usually be able to use your deposited funds instantly when topping up, no matter which method you pick. On the other hand, withdrawals take longer. First, keep in mind that the casino is legally obligated to verify your identity and source of funds, a process which can take up to a few days. Also, some casinos won’t award bonuses on deposits made via specific payment methods, usually Neteller and/or Skrill.
Withdrawals also generally tend to take longer. If we take credit/debit cards for instance, it’s not unusual for transactions to take a few days, no matter what you are using them for. Some payment providers also charge a fee and this is out of the casino’s control.
Finally, there are casino-imposed factors you should keep in mind. Minimum and maximum deposit and withdrawal limits are set by the casino itself so it’s worth checking which method works best for you in these terms. A minority of casinos charge withdrawal fees but in this case, they would be clearly indicated on the site.
Some casinos like to reward players for using particular payment methods. Not only can players claim the standard deposit bonuses a brand might have available but they could also benefit from an additional bonus based on the payment method they choose.
Choosing the right payment method need not be a difficult task. Remember to take a look at transaction restrictions imposed by your casino of choice as well as any incentives related to payment methods to ensure you get the best experience.