In order to play at an online casino, you’ll need to deposit funds – and while a few years back players were limited to pretty much just card payments, today, there’s a host of different methods available! It’s not uncommon for online casinos to offer 10 or more payment methods, and in this post, we’ll look at some of the most common, as well as provide you with links to more in-depth guides on how to use the payment methods, and where to use them.
Cards
Card payments are known to almost every human on the planet, and is the most common form of depositing at an online casino. One of the main benefits of card payments is that they’re usually instant, eradicating the need to wait for hours, or even days for funds to come through. There are two main type of cards, shown below.
DEBIT CARDS
A debit card is a physical card which allows users to make purchases and transfers, both in-store, and online. If in-store, the card holder will need to enter a 4-digit pin code, whereas online, the user enters the 16-digit long card number alone with other pieces of security information. A debit card is linked to the holder’s bank account, and uses funds directly from the bank. If insufficient funds are in the bank, transactions will be declined.
CREDIT CARD
A Credit Card functions in exactly the same way as a debit card, and the only main difference is that instead of being funded by a bank account, a credit card is a line of credit from a lending company. This means fees are higher on the card, and if you opt to use a credit card, you’ll pay for the money you borrow.
EWallets
EWallets have increased in popularity exponentially over the last 5-10 years, and their simplicity and speed has made them far more practical than physical cards, for many transactions. For example, when withdrawing from a casino to a card, the transaction takes typically 2-5 working days, but EWallets are – usually – instant. Below are some of the most common EWallets currently accepted by most online casinos.
PAYPAL
Arguably the most well-known EWallet, PayPal is available at some online casinos – but not as many as you’d think. That’s because PayPal are very strict about who can use their services (and how), and at one point, the company outlawed gambling businesses from using it to process payments altogether. Today, where PayPal is accepted, the casino must adhere to strict rules and regulations, ensuring player safety at all times.
SKRILL
Probably the second most well-known EWallet today, Skrill was originally called Moneybookers, until a business decision caused it to take on the name “Skrill”. Skrill offers a varied selection of financial services to users, and hundreds of thousands of online businesses now accept Skrill as a payment method.
NETELLER
One of the world’s longest-standing EWallet companies, Neteller was founded in 1999, and is based in the Isle of Man. Neteller is officially recognized as a bank, although users will find it more like other popular wallets, such as PayPal. Once you have an account with Neteller, you simply add funds to your account, which can then be spent over the Internet.
CLICK2PAY
Click2Pay is a popular online payment system which has been around since 2003. This popular EWallet is used mainly by German and Russian citizens, although can be used in other European countries. Click2Pay works like most popular EWallets, with users having their own account, which they can deposit funds into, and withdraw out from.
Prepaid Cards And Vouchers
Prepaid Cards and Vouchers both allow you to load a card or voucher with funds – although the two differ greatly. Prepaid Cards, for instance, give you an actual card to use, along with a 16-digit number, CCV, and expiry date, and you can use this card in shops, or online, to make payments. A voucher, on the other hand, doesn’t provide you a physical card; instead, you buy a voucher in-store, and then can redeem that amount online, by inputting the code at the time of payment. Below you’ll find Entropay – the most common Prepaid Card accepted at online casinos – and Paysafecard – the most commonly accepted voucher.
ENTROPAY
Entropay is a pre-paid virtual Visa Debit Card system that offers users the ability to make payments, anywhere that accepts Visa cards. This ensures Entropay card holders can use their cards all over the world, however, there are no credit/overdraft facilities available with Entropay, and users must load on money in advance, in order to use the card.
PAYSAFECARD
Paysafecard is similar to a pre-paid card, but the main difference is that instead of using an actual “card” to make a purchase, you must buy a ticket in a store. You purchase a ticket with a specific value on – however much you want to make a purchase – and on the ticket, you’ll find a 16-digit code. This code can then be inputted on a website, which will then allow the funds you loaded on to be spent.
Virtual Currency
A virtual currency is still a foreign ideology to some, and indeed, they can be very confusing – especially in terms of their creation, and where the initial currency comes from. However, virtual currencies like Bitcoin, Altcoin, and Ethereum are becoming increasingly popular, as it allows financial transactions to be made with a greater degree of animosity and privacy. While many assume criminals would be the sole users of cryptocurrencies, legitimate businesses and consumers now use them as part of their daily spending and online casinos are gradually beginning to accept them themselves! There’s just one major currency you’ll find today.
BITCOIN
By far the most popular cryptocurrency, Bitcoin has been mainstream news for the last few years, as millions around the world have begun using it for both transactions, and investing. Bitcoin is simple to use, and although confusing at first, is relatively easy to buy and sell. Depositing into a casino using Bitcoin requires you to send funds to the casinos “wallet address”, and while it’s still fairly uncommon, more casinos are beginning to accept the currency with one of the most notable additions being Netbet.