Online casinos are known for many great features: their game selection, sleek mobile interfaces, and the juicy welcome or no deposit bonuses they offer to everyone. Yet one of the main things that gets people to pick one online casino over another is their payment options.
An online casino with a wide array of payment options, both for withdrawals and deposits, gives players a lot more freedom, making them more valuable than another casino that is lacking in them. To help explain their significance, we’re going to provide an overview of all the major payment methods you should be on the lookout for.
For many people, the available payment methods can be a make-or-break factor when it comes to online casinos. Even if everything else about the online casino is great, from its mobile app to its selection of live dealer games, many people will outright refuse to use an online casino if it doesn’t support their preferred payment option, and for good reason.
A good payment option can make all the difference, as they are not all made equal. Depending on where you live and which casino you use, payment methods can have fees attached and different speeds. For some players, this makes all the difference.
Since some online casinos offer payment methods with faster payout times, such as the ones recently selected by AskGamblers, many players will opt for the casinos that support faster withdrawals. This allows you to get your winnings into your account much faster. This is why it’s always important to choose an online casino that has your preferred payment methods available and preferred payout speeds.
If you hit a big jackpot and want to withdraw your cash quickly, you may not be able to do so if the payout time is too long. On average, payment options take one to three business days to deliver your cash. Obviously, this is not exactly the same as winning at a land-based casino and getting your cash instantly, as you are still feeling the rush of victory. Obviously, the sooner the payout, the better.
By far one of the most common payment methods, just about any online casino you can find will accept credit and debit cards. People have had cards before the internet existed, so part of their popularity is a matter of convenience. People already have them, they are easy to use, and they have institutional backing and security, which keeps them reliable.
Many online casinos accept the most common credit and debit card brands, particularly Mastercard, Visa, and American Express. Other popular options include Discover and Switch.
When it comes to fees, credit and debit cards can be hard to predict. There are usually transaction fees of some sort, especially when making withdrawals from an online casino. The size of the fee almost entirely depends on any regional differences between your place of residence and the country of origin of the online casino.
E-wallets are another popular choice, but unlike credit and debit cards, they are online only. Accessed via websites or mobile apps, e-wallets are like online banking accounts where you can store money. They can be synced with many major credit card brands, but are otherwise unrelated to them.
Many of the most popular e-wallets are widely available at sportsbooks and online casinos all over the web. Even many lesser-known ones are relatively easy to find and sign up for these days.
The most popular e-wallets at casinos are PayPal, Skrill, Neteller, Paysafecard, MuchBetter, and EcoPayz. Almost all online casinos will accept at least one of these options. Other popular, though moderately lesser-known, options include MiFinity, eZeeWallet, and Jeton.
Like debit and credit cards, e-wallets can have differing transfer speeds and fees, but many of them are known for being faster than cards. E-wallets are also great for people who do a lot of traveling and do most of their online gambling on the go as a result.
Online casinos have put in a lot of effort over the past couple of years to stay up to date with the latest technological trends. For many of them, this means incorporating more artificial intelligence to make chatbots or profile recommendations, but the most requested of all these trends has to be crypto.
Crypto is in high demand for many reasons. For one thing, the payments are nearly instant. While not literally instantaneous, crypto withdrawals usually deliver the funds to your crypto wallet within minutes, sometimes even seconds.
Another thing driving the demand is that cryptocurrencies are highly secure, hard to trace, and are anonymous. This makes them the perfect choice for people who want to do their online gambling with as much security and privacy as possible.
The most common cryptocurrencies you’ll see in online casinos are Bitcoin, Bitcoin Lite, Dogecoin, Ethereum, and Litecoin. Other options that are growing in popularity include Tether, Rippl,e and Bitcoin Cash.
The last major online casino payment option to consider is the bank transfer. Like debit and credit cards, they predate the internet, so they are a more popular option than some might expect.
Bank transfers are most commonly used by people interested in making large bets at online casinos. Even though they may not produce as much online traffic as other options, they make up for it with the larger amounts being transferred.
They are also slower than other options, making them a less-than-ideal choice for more casual fans of online gambling who just want to chill out with a couple of hours of slots.
Bank transfers are best used by serious gamblers who like to play at high-stakes tables, particularly poker or blackjack. If you plan on making wagers of thousands of dollars, this is probably the payment option for you.
