Online gambling has become very popular right now. The days of regular land-based casinos to play table or slot games are gone. The same can also be said for visiting physical betting chains to wager on sports. Many people are playing their favourite casino games anywhere, anytime and anyplace via online gambling sites.
Online gambling sites are growing day in day out. There are lots of sportsbooks and online casinos available that are ready to service you. A wide range of online casino payment methods are available that gamblers can use next to Apple Pay from your iPhone, making online gambling more fun to play. The vast payment options offered by online casinos have improved the gambling experience worldwide. In this blog, you will learn the various payment methods that online casinos offer.
Available payment methods
The most important feature that gamblers look out for is the safety, easy of use and fast deposits. A majority of the sportsbooks and online casinos provide different means of depositing and withdrawal methods. Some sites only offer a single payment method, while others allow players to choose a withdrawal method. However, in most cases, players can make withdrawals with the same means they used to deposit.
With the various methods that online gambling sites offer, payments methods can be a little hard to navigate. Below are some of the payments methods that online gambling sites offer besides Apple pay.
1. Credit and Debit cards
It’s worth noting that this is the most popular method used by online gambling sites in the world. It’s the most commonly used method used in Spain, the UK, France and Belgium. Sportsbooks and online casinos accept Visa and MasterCard and sometimes Maestro as well.
The advantage of using this payment method is because it’s easy to access. This is because anybody can apply for the cards and use them anywhere in the world.
This payment method is growing in popularity. They are likely to take over online gambling payment methods as they are easy to use in the foreseeable future. However, it comes with a disadvantage because several e-wallets charge some transaction fees. The transaction fees are minimal and are often offset by loyalty programs.
3. Prepaid cards and vouchers
In the online gambling industry, Paysafecard is the most popular prepaid card, especially in the UK. Most online gambling sites accept this method because of its high security. Ecopayz is also a prepaid card and it offers an ecocard. Ecocard works in a similar manner as Paysafecard because they manage deposits and withdrawals in various locations around the world.
4. Bank wire transfers
Most online casinos accept wire transfers as a payment option. It is because they are seen to be a secure payment method as they require strict requirements. For instance, they are subject to many of those know-your-customer processes to help reduce money laundering cases. You should know your customer procedures take a lot of time, almost seven days to complete.
5. Instant bank transfers
This kind of wire transfer covers the disadvantage of the traditional bank wire transfers during transactions. A good example of instant bank transfer is Trustly and which provides instant bank transfer services to online casinos, mostly in Europe. Trustly works as the middleman as it transfers money from your bank to the online casino of your choice. The best part is that you don’t have to send your essential payment details such as debit or credit card details to the online casino operator. In short, the transactions stay protected from fraud.
Many sportsbooks and online casinos are adopting cryptocurrencies as a form of payment. the casinos with crypto payment methods have adopted this method because of the guaranteed security cryptocurrencies such as Bitcoin and others offer. Even big betting and casino brands like Betmaster or Playamo offer these cryptocurrencies to their customers. One particular advantage of using cryptocurrencies such as Bitcoin for payments is that American players can play online. Bitcoin gambling does not fall under the category of ‘online gambling’ in the US.
Online casinos use Bitcoin mostly as a payment method. However, other cryptocurrencies are also gaining popularity and they include; Monero, Litecoin and Bitcoin Cash. These cryptocurrencies can process transactions faster and cheaper than Bitcoin. It doesn’t matter the cryptocurrency method you decide to use. They come with different advantages, which will improve your online gambling experience.
Some of the advantages of cryptocurrency as a payment method are; they provide instant delivery and confirmation, they have an additional layer of security because of the cryptographic nature. Lastly, they offer privacy as you can do some transactions anonymously.
When it comes to payment options for online casinos, there are so many options. Many online casinos try to make payment methods to be as many as possible in an effort to improve the gaming experience of their customers.