The world is abundant with different wonders. Nowadays we have plenty of leisure activities to immerse ourselves into. People could enjoy playing computer games, kicking the ball in the yard or just spend countless hours sleeping in a comfortable bed. But these are just pastime options we have to cheer ourselves up. And what about a sense of risk that can go along with something that we have a craving for.
It goes without saying that online casinos present a brilliant opportunity not only for having exhilarating emotions but for winning real money as well. Just imagine yourself spinning colourful reels or showing up cards in poker and claiming huge prizes. Isn’t that overwhelming?
Regretfully, the covid pandemic has influenced the gambling industry dramatically. Fewer players visit land-based venues and more punters register on online casino platforms. The virtual world rules! So, one should be well aware of how to cash in and cash out money within a digital casino.
This is our small guide to payment methods available in the gambling market as of today. From conventional options to modern processes, both newcomers and fervent players have loads of deposit and withdrawal variants to select from.
This is arguably the most traditional and straightforward means of transferring money to your casino account. Therefore, the initial step is to register on the casino website you are playing. Then, check out the balance of your credit card, because a punter must have sufficient funds to make operations in order to play. If needed, visit a bank and make a deposit and then wait for the confirmation of a transaction.
Once you are used to paying for goods by a debit/credit card, you should know that not all cards are accepted at online casinos. It could be that banks don’t process money transfers when it comes to gambling. That is why a player must learn what online gambling platforms accept credit card payments.
To complete a transaction, a user needs to specify card information and a code of verification. Online casinos diligently protect customers’ banking details from being stolen by fraudulent third parties.
How to Make a Transaction
So as to make a deposit to an online casino via a credit/debit card, you should open the cashier, opt for the respective credit card option and finally approve the payment procedure. The withdrawal process is kind of similar to cashing money in. The only difference lies in fees charged, basically, they don’t exceed 3-4% of the transaction sum. Bear in mind that it may take several business days to get your winnings. It is due to the reason information regarding payments goes through a bank.
As of today, there are two credit card types players willingly utilise.
- Visa. These are special cards for payment operations that work on the Visa network. Every Visa user has an individual 16-digit number combination, a microchip and a magnetic stripe
- Mastercard. The distinction between Visa and Mastercard is the network systems each operator on. It implies a Mastercard credit card isn’t going to work on the Visa network.
Ultimately, the gambling industry isn’t limited to solely debit/credit payment options. To make money transfers swifter, digital wallets have been introduced.
There is a reasonable question that arises in our minds. What makes digital wallets an almost perfect way of making money operations at online casino venues? Are there any significant benefits of using an e-wallet? Here is the indisputable truth about wallets.
Firstly, payment transfers occur with just one click. The transaction procedure is extremely plain. All you need is to pick an e-wallet, type the sum you wish to deposit or withdraw, and an e-wallet provider will do the rest.
Secondly, electronic wallets are much faster than their credit card counterparts. It speaks volumes that casino punters want to immerse themselves into playing slots and table games straight away. And thanks to rapid e-wallet money transfers, a gambler can’t go wrong with a particular banking method.
Thirdly, mobile-friendliness matters. It is one more decent thing when speaking of digital wallets. Make quick payments right from a smartphone while on the go. Punters don’t have to carry a credit card in a pocket, and that stands players in good stead.
Finally, e-wallet providers do care about your privacy. Multiple encryption measures have been introduced to keep the banking information of players safe and sound.
More than that, e-wallets usually convert currencies automatically so that you don’t have to convert them for yourself. It is sensible to study the terms and conditions of the casino you are playing at to clarify the promptness of payments. Plenty of digital wallets support multiple currencies.
Let’s enumerate the most popular electronic wallets that have been used in the gambling industry for some time now.
- PayPal. Probably every punter has heard about the PayPal e-wallet. It is undoubtedly the most reputable payment method. but as for online casinos, not all Internet gambling venues accept this e-wallet
- Neteller. The Neteller digital wallet serves online punters well. Similar to PayPal, this means of depositing and withdrawing provides well enough currencies. It is totally free to create an e-wallet account. A vast range of online casinos provide Neteller for rapid withdrawals
- Skrill. Being regulated by the UK Financial Authority, the Skrill company offers it services to customers from no less than 200 territories. It takes no fees to pay for withdrawals.
Besides, this isn’t the end of story. Vouchers are up next.
Sometimes called prepaid vouchers, this means of payment presents an opportunity of not linking your card or e-wallet details. You simply go to a convenience store, buy a voucher and use it to cash in money on an Internet casino platform. Apart from that, vouchers provide rapid fund movement.
Below there is a range of vouchers multiple online casinos allow to use.
Online Casino Vouchers
Paysafecard represents a voucher punters could purchase at retail stores or via the Internet. To complete a money transaction, players need to provide a 16-digit code. The voucher has a maximum limit per transfer, the amount stands at $100. The minimum amount is set at $10. Consequently, one can buy no more than 10 vouchers in one go.
The Neosurf voucher is one of the most renowned prepaid options for payments. Nowadays this voucher is obtainable in more than 150,000 different outlets around the globe. Use cash to purchase a Neosurf voucher, enter the unique code combination and deposit money on casino websites. Furthermore, this method is in high demand among casino players due to the fact that no information regarding bank details is compulsory to present.
Ukash is another voucher player on the gambling scene. Customers can utilise the prepaid voucher not only for shopping but at online casinos too. There are no less than 415,000 outlets that sell such vouchers in 55 countries. But a Ukash voucher for cash, enter a 19-digit code and transfer money to your casino account. Safety payments and Ukash are pure synonyms.
Advantages and Disadvantages of Vouchers
To be fair, one may find benefits and drawbacks to exploiting vouchers as a payment option at gambling venues. The ball is in your court to come to a decision whether the method suits you perfectly.
- Anonymity. No need to enter personal information
- Players don’t have to provide banking card details
- Spending control. The amount of money loaded is fixed
- Prepaid vouchers don’t allow withdrawals
- Fees for neglecting prepaid vouchers. So, if a voucher is idle for some time, fees are charged
Finally, we turn our page over to the modern way of transferring real funds at online casinos. Cryptocurrency, here we go!
Modern blockchain technologies have been part of our everyday lives for quite a long time. Plenty of business companies have built their success on the blockchain. As for online gambling, cryptocurrency is going to be the leading trend in the near future. Internet casinos usually provide two common cryptocurrencies: bitcoin and ethereum (BTC and ETH for short).
Technological advancements of cryptocurrencies have spread to the gambling market too. Players utilise crypto as a banking method because of its anonymity and decentralization. Punters tend to opt for cryptocurrency rather than credit cards, e-wallets and vouchers because of these benefits:
Online casinos protect the personal data of players. That is why it is incongruous to worry about safety measures as crypto casinos provide anonymity. Gamblers from different parts of the world can play casino games with each other hassle-free.
Fast Money Transfers
Cryptocurrencies represent a perfect place for those who want to deposit and withdraw money as fast as possible. Besides, the universalism of bitcoin implies players don’t have to convert coins into the country’s currency. It takes a few moments to successfully transfer winnings from a casino account to your Bitcoin account.
It should be stressed that cryptocurrency is volatile, so there is always a chance it will amplify in value. More than that, multiple online casinos offer tempting cryptocurrency bonuses like welcome perks to boost your bankroll. So, once the cryptocurrency value piles up and with new bitcoin bonuses emerging, don’t forget to take advantage of these factors.
No Fees for Transactions
One of the drawbacks of credit/debit cards and electronic payment platforms lies in pretty high charges for money transfers, be it deposits or withdrawals. Fortunately, cryptocurrencies don’t charge such fees. You may cash in much more money into games.
To sum up, in our constantly evolving world innovating payment options would always prevail over conventional methods. Maybe people will permanently abandon credit cards and select cryptocurrency as a universal payout option. It seems to be feasible, but only time will tell what is good for the online casino industry.