In this article prepared by industry experts, you will learn all about online casino banking: different options, their pros and cons, instructions and many more.
Banking is one of the most important parameters of any online casino with real money bets as every visitor has to deposit to start playing. Most modern gambling websites provide various banking options for the players to be comfortable with their transactions. In today’s article, we will describe different online casino banking methods, talk about their pros and cons, give useful instructions and answer some of the frequently asked questions.
🔥 Best Online Casinos updated: 31 Mar 2023 01:37:18
📍 Credit and Debit Cards
One of the most common casino banking options for the new players is credit or debit cards. The list of supported payment methods of this category at a typical online casino usually includes Visa, MasterCard and American Express. A new player who has never visited an online casino before usually does not have an e-wallet or spare cryptocurrency, so it is more comfortable for him/her just to use the debit or credit card.
Credit and debit cards are among the most popular transaction options among new players, though experienced gamblers rarely use them.
More experienced players rarely use this method as it usually takes more time for the casino to process the transaction, especially when it comes to withdrawals. Cashing out your money to a debit card may take up to three days, which is not really convenient. Another reason for this online casino banking option not to be popular among experienced gamblers is data security. Many users prefer not to share their banking information with casinos.
E-wallets are one of the most convenient online casino deposit options as the transactions are processed immediately. In most cases, the minimum deposit limit is usually lower than for other options. It is safer to use an e-wallet than a credit or debit card. The list of popular e-wallets supported at Australian gambling platforms includes:
PayPal;
Skrill;
Neteller;
POLi;
EcoPayz;
Instadebit;
others.
The withdrawals are also great with e-wallets. First of all, with most of such platforms, you can easily transfer money to your debit card once the withdrawal is complete. It excludes the necessity of sharing banking information with a casino, which positively affects the transaction security. Moreover, the withdrawals are also processed faster, and in some casinos, they are even finished instantly.
Prepaid cards are, without a doubt, the most safe deposit option in terms of information security. In case you use one, you only provide the casino with the PIN code, meaning your address, name, banking information, and other personal details remain confidential. The list of popular prepaid cards supported as deposit methods includes Flexepin, Paysafecard, Neosurf and others. To use this option, you will have to find accepted vouchers at your local store.
Deposit
The funds which gambler transfers to the casino account to play for real money.
However, prepaid cards are not a perfect banking option, as they have several major drawbacks. First of all, unlike any other method, this one requires you to visit a local store, which is not very convenient. The second pitfall is that you cannot withdraw using vouchers as a casino is not eligible to provide you with a PIN code.
Cryptocurrencies are another popular banking option among experienced players. There are several important benefits that are the reason for such popularity. To start with, the transactions are usually processed immediately with cryptocurrencies. The maximum withdrawal limits are usually way higher than with the other methods as it is more convenient for casinos to operate with cryptocurrencies. The most popular of them are:
Bitcoin.
Litecoin.
Ethereum.
Dogecoin.
There are three important criteria that you have to take into account while choosing a payment method: convenience, security and limits. Vouchers are the most secure option alongside cryptocurrencies that also have higher limits. E-wallets and bank operations are the most convenient ones for most players while being less secure.
Banking transfer or wire transfer is not a very popular transaction option as it has several drawbacks. Firstly, the transaction processing time is the longest with such transfers and may take up to 5 days. Secondly, casinos do not accept deposits via wire transfers, meaning you will only be able to withdraw. Last but not least, the withdrawal limits are usually lower than with other options.
Online casino banking methods
Average Min Deposit
Average Max Deposit
Average Min Withdrawal
Average Max Withdrawal
Average Transaction Time
E-wallets
$10
$4000
$20
$4000
Instant
Credit / Debit cards
$20
$4000
$20
$2000
3 days
Cryptocurrencies
$10
No max limits
$10
No max limits
Instant
Vouchers
$10
$4000
No withdrawals available
No withdrawals available
Instant
Banking transfers
No deposits available
No deposits available
$40
$2000
5 days
💠 How to check what payment options are available at an online casino
It will take: 10 minutes
In case you need to acknowledge the payment options available at a certain casino, you have to follow these simple steps.
Can I use my credit card to make a deposit or a withdrawal?
Yes, most casinos accept Visa, MasterCard and others as payment options. However, you have to be careful as by providing the casino with your banking information, you are putting yourself at risk. Use your card only on trusted websites or create an e-wallet.
Why isn't it safe to use cards at gambling websites?
Many people wrongly think that the insecurity of using cards is explained by fraud casinos that will try to steal the money from your card. In reality, the biggest threat is to have your data leaked, as even, a completely honest casino stores your data and may be hacked.
Why do players choose cryptocurrencies?
There are several advantages of using Bitcoin or other cryptocurrencies as a deposit or a withdrawal method, though the main one is that they have higher withdrawal limits. The transactions are also processed quickly and with no fees.
Why do some casinos offer bonuses for using Bitcoin?
The reason behind this is simple: it is better for the casinos that the players use cryptocurrencies rather than any other option. It is easier for casinos to process such transactions, and they also do not have to pay transaction fees with Bitcoin and others.
Where do I find a prepaid card?
Different vouchers are available at various stores. The easiest way to find one nearby is to visit the selected voucher's website, enter the approximate address, and see the stores that sell these vouchers near you.
The easiest way for me is to use PayPal as I always have some spare bucks there anyway. I don't see any reasons to switch to something else.
ZeroCharisma
Some time ago, I thought that using cryptocurrencies was hard. It turned out to be wrong. Now it is my main payment method not only at casinos but online in general, and I'm satisfied.
Glosanass
I am currently using my Visa at casinos, though I think I'm gonna switch soon. Everything is fine except for the 3-day withdrawals. They are not a problem at first but become really annoying with time.
Mightdragon
I only use e-wallets now, but I am really looking forward to the day they allow withdrawals with vouchers. IMO there is no reason to use them now as you will have to use something else for withdrawing anyway.
LinaGel
Skrill has been working pretty well for me for the past years. It is accepted almost everywhere, the limits are fine, and the transactions are quick. The Bitcoin bonuses are attractive, but there are too many steps before you can start making deposits via crypto.
The easiest way for me is to use PayPal as I always have some spare bucks there anyway. I don't see any reasons to switch to something else.
Some time ago, I thought that using cryptocurrencies was hard. It turned out to be wrong. Now it is my main payment method not only at casinos but online in general, and I'm satisfied.
I am currently using my Visa at casinos, though I think I'm gonna switch soon. Everything is fine except for the 3-day withdrawals. They are not a problem at first but become really annoying with time.
I only use e-wallets now, but I am really looking forward to the day they allow withdrawals with vouchers. IMO there is no reason to use them now as you will have to use something else for withdrawing anyway.
Skrill has been working pretty well for me for the past years. It is accepted almost everywhere, the limits are fine, and the transactions are quick. The Bitcoin bonuses are attractive, but there are too many steps before you can start making deposits via crypto.