Casino Payment and Withdraw Methods

Gambling operators provide players with games that can be enjoyed on real and virtual currency. They can spin the reels of slots, play table games, and video pokers as well as other genres for free indefinitely. However, the most exciting games are those played on real money even when the stakes are low. There are several ways to load an online casino account and online banking is a fast and secure way of transferring funds. These payment methods are ideal for depositing and withdrawing from online casinos.

Loading an Account with Credit and Debit Cards

Among all casino payments, credit and debit cards are used more often because of their sheer simplicity and convenience. Deposits are performed instantly when using Visa, MasterCard, and American Express, so players can use the money to gamble immediately. In most cases, casinos will allow players to withdraw their winnings on the same financial instrument. This is in fact required by the casinos, to mitigate the risks of money laundering and fraud.

Visa credit and debit cards are the most used by people who play at online casinos. There are accepted by the vast majority of Internet gambling operators and these transactions are fast and secure. MasterCard is almost as popular and an increasingly high number of online casinos accept it. The only downside is that at selected casinos it is not possible to cash out winnings to the same card used to deposit. American Express is offered by fewer casinos, but the ones who do are trustworthy operators.

E-Wallets Offer the Fastest Cash Outs

The very nature of electronic wallets makes them the obvious choice for loading an online casino account. Funds are deposited instantly but the main advantage is that withdrawals take significantly less. On top of that, players can store their card information on the same account, which is useful for those who own several credit or debit cards. It is important to mention that some bonuses and promotions require players to refrain from depositing funds via e-wallets.

PayPal is the best-known electronic wallet and an increasingly high number of casinos accept it. A few years ago, this popular payment method was not featured on most gambling operators, but things have changed radically. Neteller and Skrill used to be competitors and at the same time two of the most popular payment methods at online casinos. Since joining forces, they are a dominant global payment service and the natural choice for most players. EcoPayz / EcoCard has its fair share of customers who appreciate the convenience of withdrawing casino profits straight to their prepaid cards.

Offline Banking Solutions Still Going Strong

Credit and debit cards, as well as e-wallets, have emerged as the payment methods of choice for those who gamble at online casinos. Having said this, there’s no shortage of people who would still prefer offline banking solutions whenever they are available. Most casinos feature at least one if not several such financial instruments and they include wire transfers, bank draft, and cheques. At selected casinos, Western Union and Moneygram are also accepted, but these payment methods are subject to bigger fees.

Bank wire continues to be a popular payment method for loading accounts and cashing out winnings. It is suitable for larger money transfers and some players regard it as more secure because large financial institutions are involved. They don’t mind the fact that a fee is charged, so the cost of loading accounts and cashing out winnings is slightly bigger.

The use of eCheck is limited, even though there are many online casinos that accept this financial instrument. The reason why online cheques failed to gain traction is that it takes longer to process transactions. Western Union and Moneygram suffer from the same downsides associated with higher costs but some people use them nevertheless. Players can make a transfer over the phone or by visiting the local branch where they can fill in a couple of forms.

Mobile Payment Solutions at Online Casino

The vast majority of Internet gambling operators have adjusted their games to run smoothly on mobile devices. It is only natural for the same gadgets to be used to deposit funds and cash out winnings. The list of popular casino mobile payment methods is on a constant expansion. It includes financial instruments used internationally, as well as locally popular payment methods.

Zimpler had humble beginnings and started as a mobile payment option used by Swedish players. It now provides a convenient and fast way to transfer funds to online casinos worldwide. Boku is an alternative solution and this payment method has been used since 2003. It requires no electronic wallets, credit or debit cards and players can load their accounts in a few minutes. Other payment methods such as Payforit are available at fewer casinos but have unique advantages. This payment method, for example, allows players to deposit and gamble online while having the phone bill charge later on.

Cryptocurrencies are Gaining Traction at Online Casinos

The Bitcoin surge brought cryptocurrencies into the spotlight and got everyone talking about digital money. Online casinos were quick to respond and there are now dozens of operators where altcoins are accepted. Players appreciate them for enhanced privacy, and these transactions are more difficult to track. Bitcoin and Ethereum are some of the popular altcoins there are accepted at most crypto-friendly casinos

Deposits in cryptocurrency are performed instantly and players cash out winnings faster than with traditional payment methods. The enhanced privacy and the fact that digital money can now be used to purchase goods and services online, make them more attractive. The downside is that the learning curve is a bit steep for beginners, who also need to learn about acquiring and storing cryptocurrency.

The Bottom Line

Modern online casinos offer a plethora of payment methods to load an account and cash out profits. Occasional restrictions apply when casinos offer bonuses and some payment methods are subject to small fees and commission. A little research goes a long way and players are guaranteed to find a financial instrument that meets their expectations.