Believe it or not, casino banking is one of the most important things to understand before picking an online casino. The banking policies can make the difference between a fun experience in which you get your jackpots quickly, to a stressful one which makes you want to pull your hair out while you try to get what’s rightfully yours over weeks upon weeks.
On top of this, each banking method has its own pros and cons. We’re going to look at several of the most popular ways to make deposits and withdrawals so you can understand which casino banking method is best for you.
Credit and Debit Cards
👍 Straightforward and easy to use.
👍 Wide acceptance.
👍 Top casinos offer zero fees on deposits/withdrawals by card.
👍 Available in most major currencies.
👎 Fees associated with casino payments on some cards.
👎 Not everyone wants to share financial data with casinos.
👎 Not private or anonymous. Banks don’t view gamblers favourably.
👎 Can take 3-5 days to get your withdrawals.
E-Wallets Like PayPal/Neteller
👍 Fast withdrawals – typically within 24 hours.
👍 No need to share financial information.
👍 A reasonable level of financial privacy.
👍 Wide acceptance.
👎 Some less tech-savvy users may require a learning curve.
👎 Excluded from some welcome bonuses.
👎 Not anonymous.
👎 Some fees associated with currency transfers, etc.
👍 Fast withdrawals – usually same day.
👍 A reasonable level of financial privacy and anonymity.
👍 Widespread acceptance.
👎 Deposit and withdrawal limits of £20 per standard card.
👎 An effort required to find a retail outlet selling Paysafecards.
👎 Renowned for subpar customer service.
👍 Super fast withdrawals – usually seven minutes.
👍 Almost total anonymity and financial privacy.
👍 Unlimited deposits and withdrawals to wallets.
👍 Extremely safe and secure on a decentralized network.
👎 Fees can be high if the network is busy.
👎 Still, relatively few gambling clubs accept Bitcoin.
👎 Requires a steep learning curve to begin with.
👎 Some fees come with cashing Bitcoin into other currencies.
Casino Banking Methods – Your Questions Answered
❓ Which e-wallet is best?
✍ That depends what you’re looking for. PayPal is the best-known of the bunch. It does have second-rate customer service, though. Neteller, on the other hand, has better customer service but the fees are higher. Skrill seems to strike a balance between the two, offering decent customer service and reasonable fees. Pick the one you’re most comfortable with. It’s swings and roundabouts, really.
❓ Is it safe to share my card details with casinos?
✍ That depends on the casino! If you stick with our pre-approved list above then you won’t have any problems. All of them have valid gaming licences from government authorities and work with trusted software providers.
❓ Which casinos accept cryptocurrencies?
✍ Cryptocurrencies are slowly, ever so surely, edging their way into the online casino industry. We predict that in a few years time they will be accepted by a much larger number of casinos online. If you see a casino you like above and want to know if it accepts Bitcoin, check out the attached review. All of the bankings methods are listed and updated regularly as they change.
❓Will gambling online affect my credit rating?
✍ It won’t necessarily affect your credit rating directly. That is to say, you might not notice your credit score changing or anything drastic like that. However, it can affect how the bank views you if there are lots of deposits and withdrawals coming out of your bank account. This is one of the prime reasons to consider using an e-wallet like PayPal or Skrill, or cryptocurrency in general.