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Best online casino payment methods

The demand for online gambling is on the increase all over the world. One fundamental aspect of playing in online casinos is payments. Being able to transfer money in and out of a casino account. There are many online casino payment methods to choose from. Usually, the availability of options depends on the country you are in. As such, it would be difficult to make a comprehensive guide on payment methods for all countries. Instead, on this page, you can read about the best online casino payment methods that are typically available in most countries. We have also outlined some aspects about how to choose the best payment method and general information about transactions related to online casinos. Payments are important because it is about the safety of your money. Waiting times can be frustrating, so it is good to know what to expect when using different payment methods. Choosing the right one will elevate your online gambling experience.

The different types of payment methods to use in online casinos

Later on this page, you can read about what aspects to consider when choosing a payment method. Generally, most importantly, a player looks for safety and speed. Depending on the type of payment method, the speed can vary greatly. For example, withdrawing using VISA typically takes 3-5 banking days, while a withdrawal using cryptos or instant banking takes minutes up to a few hours. The main types of payment methods include:

• Credit and Debit Cards

• Bank transfer

• Instant bank transfer

• Ewallets

• Cryptocurrencies

• Prepaid cards

List of popular online casino payment methods

As you start playing in online casinos, you will quickly notice that the availability of payment options varies greatly. And that there are many payment providers out there. You will recognize many from shopping online or paying bills online. The flow of making payments in an online casino is not that different from online shopping. Below, we will highlight three popular payment methods that you will commonly come across in online casinos.

Visa/Mastercard/Maestro

The oldest forms of online payment methods are credit and debit cards. Most famously and commonly accepted are Visa, Mastercard and Maestro. Especially the two first are accepted in almost every online casino you will come across. The reason why both Visa and Mastercard are so popular is that every person of legal age has one. The chances are that if you reach for your wallet, you will have either a Visa or Mastercard. This availability makes it popular. It is also very easy to use your credit or debit card when making deposits or withdrawals to an online casino.

However, despite this being the most popular payment option, it is not the safest. Something most people fail to consider is that, when using your credit or debit card, you need to enter details manually from your device. If your device is infected with malware, there is a risk that your details get into the wrong hands. Additionally, each online casino will store this information in highly secured databases. Databases are subject to data breaches. The risk of a breach occurring is minimal, but the risk is there. Aspects to consider as security should always be a top concern when making digital payments.

Another aspect to consider when it comes to making withdrawals with a credit or debit card is the processing times. It is one of the slowest payment options when it comes to withdrawing money. Usually, it takes between 3-5 business days for the money to arrive in your bank account.

Neteller and Skrill

You may have heard of Ewallets. It is much like it sounds like, storage (wallet) for money online, which you can use for payments. Especially Neteller and Skrill are hugely popular Ewallets when it comes to online casinos. Coincidentally, both these online casino payment methods are owned by the same company, Paysafe Group. Again, the reason why it is so popular is because of its availability. Almost every online casino will accept either Neteller or Skrill.

Security with Ewallets is generally good. All you need to provide in the online casino is the unique account number of your Neteller or Skrill account. Withdrawals are generally fast. It takes between a couple of hours up to 48 hours to withdraw money using Neteller and Skrill.

One aspect to consider when using Ewallets is that you also need to get money into your Ewallet before depositing to an online casino. So, you first need to make a deposit to either Neteller or Skrill. And, after that, you are to deposit to start playing in an online casino. The good thing about having money in an Ewallet is that it is generally easier and faster to transfer money in and out of online casinos, or even between online casinos if you have accounts in many places.

Cryptocurrencies like Bitcoin

Cryptocurrencies are the technically most advanced type of digital payment. Using Bitcoin, for example, is generally very safe—cryptos leverage blockchain technology which naturally has security built into it and is fairly anonymous. Besides security, crypto payments are lightning-fast. Both when depositing and withdrawing money, you can expect the transfer to be from instant up to a few minutes

Two aspects to consider with using cryptocurrencies as an online casino payment method. Firstly, you need to buy Bitcoin, for example. This means that you typically need to use your credit or debit card and deposit to an exchange, then purchase Bitcoin there. After that, you can deposit your Bitcoin from your Bitcoin wallet, which is hosted by the exchange. The process is not very complicated, although the concept of cryptos may seem difficult. Secondly, the price of cryptos is highly volatile. Bitcoin, for example, sees massive swings regularly. Buying cryptos can be considered a gamble in itself.

Safest online casino payment method

While all online payment methods are highly secure. And even the online casino payment methods that are less secure are, in reality, highly secure. The risk of something happening when making payments to online casinos is very low. But the risk is there, and some options are slightly safer than others. Below, you can read about the safest online casino payment method.

Trustly

Our top pick when it comes to safety is Trustly. The main perks of using Trustly includes:

• Safety

• Speed

• Ease of use

Trustly is a so-called instant banking option that has become hugely popular in online casinos. Trustly has helped revolutionize the online casino industry by enabling operators to offer Pay N Play. Pay N Play allows a player to start wagering with real money without registering to an account. Nor go through any lengthy and inconvenient verification processes.

The way it works is that, instead of entering financial information and personal details, Trustly will re-direct to your account. In the portal, you log in to your bank account using your banking devices. Enter the amount you want to deposit or withdraw, then authorize the payment through your banking device. Both deposits and withdrawals are instant. Your personal details and financial details are verified against the bank, so the casino will know about you without you actually creating an account or entering any details with the online casino itself.

The drawback of Trustly is that it is a relatively new online casino payment method. It has only been around for a few years. In countries where it is available, it dominates. But there are still many countries that do not have Trustly available — yet. We expect many more countries and banks to start working with Trustly in the near future.

Our Favourite payment methods when playing in online casinos

On a personal level, we are all into crypto currencies. Naturally, we do make some deposits and withdrawals using cryptos. However, we must say that Trustly is our favourite online casino payment method. The reasons outlined above makes Trustly superior to all other options. We would recommend you to use Trustly whenever it is available.

How to choose the best payment methods for playing in online casinos

If you made it this far, you probably have a good idea about what to look out for when choosing your online casino payment method. Below we will go through the important aspects to consider in an easy and comprehensible way.

Online casino payment security

All payment providers and online casinos operate according to the PCI DSS (Payment Card Industry Data Security Standard). The latest secure socket layer (SSL) technology and all servers and databases are secured by the latest firewall technology. Think of payment processors as a bank, they have similar security. All this is shared by all payment options you will find in online casinos.

However, consider certain aspects, such as devices used when making transactions. Chances are that your mobile device or computer has viruses on it. Most of these won’t do anything. But there is a risk that there is malware that could capture your financial and personal information as you enter it on a website. Such data, if captured by cybercriminals, can then be sold on the black market to be used for illegal purposes. This is why we recommend an online casino payment method like Trustly, where there is no need to enter such information.

Fast transactions

Another important aspect is the speed of transfers. Every online casino payment methods besides bank transfer are instant when depositing. However, when withdrawing, the processing times are longer. Some methods such as instant banking and cryptos are more or less instant when withdrawing. While a withdrawal using Visa, for example, may take up to 3-5 banking days. If you do get lucky and win money in the online casino, chances are that you want to withdraw some of those winnings and receive it as soon as possible. No one likes to wait.

Payment fees

It used to be that online casinos charged fees on withdrawals. However, this process is largely cancelled. We would say that 90%+ of all online casinos do not charge any fees when depositing or withdrawing. However, it is common that your bank or the payment processors charge a microtransaction fee. This is fee is typically very small, hardly noticeable, but it is good to know about in case you withdraw €100 but only receive €99.50. Fees vary depending on your bank, payment processors and what country you are in. The best is to check with the online casino or payment provider customer support if you are uncertain and want to know about possible fees.

FAQ Best payment methods online casinos

How long does it take to withdraw money from an online casino?

The time it takes to withdraw money depends on the online casino payment method you use. Instant banking options or cryptocurrencies are typically instant up to a couple of minutes. Withdrawals using credit or debit cards are longer, between 3-5 banking days. Bank transfer can take as long as 7 banking days.

Is it safe to deposit money to online casinos?

Yes, both online casinos and payments are very safe. Online casinos are subject to laws and regulations to operate, which includes processing payments. Only the best payment providers are integrated. Payment providers utilize similar security technology as online banks.

Are there withdrawals limits in online casinos?

All online casinos have withdrawal limits for specific time intervals. For example, one online casino may have a maximum withdrawal limit of €40,000 per month. This means that if you are lucky enough to win a Mega Moolah jackpot of €4 million. This amount will be paid out in larger instalments rather than one huge lump sum. Additionally, there may be a weekly withdrawal limit of €10,000. This means that you would only be able to withdraw €10,000 per week until you hit the monthly withdrawal limit of €40,000. Withdrawal limits from casino to casino.

What deposit methods are available in an online casino?

There is no good answer to this question. Online casinos offer different options. The availability of certain options also depends on the country you are in. What we can say is that, generally, several types of deposit methods are available, including:

• Credit and Debit Cards

• Bank transfer

• Instant bank transfer

• Ewallets

• Cryptocurrencies