Casino Payment Method Types to Know
Okay, you know that you want to play casino games for real money. That's settled! You are well aware that you must somehow top up your casino account and, eventually, cash out your winnings, right?
Before you can choose what option to go for, we advise you to learn more about all the different and perfect money deposit methods.
First, you should understand the different types and their general traits. Only then can you adequately select a suitable option from that category. Most online casinos nowadays will give you a long list of payment methods to choose from, while some will only offer a limited selection of options.
Below, we will cover the most common ones and their characteristics. That should be enough to guide you straight to your favorite casino payment method.
And don’t forget, mate – we have individual guides for most of these options. You can check them out to learn more about them on a dedicated page that covers everything about that card, wallet, cryptocurrency, or anything else you might want to use.
Feel free to browse our guides right on this page or by using our convenient search bar. We cover the most important stuff, we promise. Staying informed plays a significant role in staying safe while gambling online.
Credit & Debit Cards
The number one most accessible payment method of them all is the credit and debit card. Its popularity among online casino players across the world is unparalleled in terms of ease of use and reliability. It is the one method that you can rely on to be available across most new online casinos and definitely at all the bigger casino sites, too.
Instant transactions and friendly limits are just some of the other advantages of using a debit or credit card. It’s often possible to cash out through them. Sometimes, there may be processing charges applied, but those are always clearly stated by operators. Cards are the most commonly accepted casino banking method.
E-wallets needed an introduction a decade ago. Now, everyone has Neteller, Skrill, and other similar options. Of course, we have to mention PayPal online casinos here too, as PayPal is the most popular e-wallet currently. As you probably know, these are digital wallets that you top up with cards or bank transfers. They provide safe and – to some extent – private cash transfers.
E-wallet casino deposits are typically instant, charge-free, secure, and convenient. If you already have a funded e-wallet, you can deposit within a few clicks. They also let you cash out to them, so many players enjoy using them.
There are external fees associated with their use. Yet, nothing is really free in life, right? Even for cards and any other methods, there are typically some charges you have to pay for the service.
Popular e-wallets include:
Similar to gift cards, these are cards and vouchers already topped with funds. They come in different amounts, like €5, €15, €20, €50, etc. You use a special and unique PIN code to complete the transfer anonymously and instantly.
The Paysafecard is by far the most popular of these payment types, and you will find its logo on nearly all the top online casino sites. EcoPayz also comes with a prepaid payment option through its EcoCard and works in the same way as the Paysafecard.
The only drawback often found with prepaid cards as a casino banking method is the fact that you cannot withdraw your winnings back onto the card. Some casinos have started to integrate the e-wallet side to Paysafe, which allows withdrawals, but it is not widespread across all countries as of yet. Also, most of these are purchased in person in stores. So, you’d have to leave your home to get them.
Bank Wire Transfers
Wire transfers work in favor of online casinos more than they do for us players, and this is down to the strict requirements that the payment method is subject to. It reduces the chances of money laundering, which is a huge issue that the regulators are trying to crack down on. What does it offer us, though?
Well, one thing it does not offer is a fast processing time, as it can often take up to seven days to get approved. Bank charges are also known to be included, and so there is very little in the way of benefits to mention. This is why you will only really ever find players using bank wire transfers in countries where the other easier options are not as widely accessible.
Instant Bank Transfers
If you have online banking, you can go for instant bank transfers as the perfect casino payment method. These are like standard bank transfers but are faster and easier. Typically, there’s an intermediate service between you and the bank which makes everything convenient. You just log into your online banking account and select the amount you wish to transfer.
Trustly is the main leader of the pack, And why it has become so popular in iGaming, is that it acts as a middle person between the online casino site and your personal bank.
Here are the most popular instant banking casino methods:
There’s nothing novel about cryptocurrencies these days, as many people use them on a daily basis. Crypto casino deposits and withdrawals are fast, cheap, and anonymous at some casinos. Plus, many standard online casinos now offer the chance to deposit via cryptocurrencies as well as traditional fiat currencies, giving players a complete choice of payment methods.
To use cryptocurrencies as a gambling banking option, you need a crypto wallet with coins. Everything else is very easy and simple. As for what crypto wallets to use, it depends on which ones are available in your country. Some classics include Trezor Model T, Electrum, Exodus, Skrill, Coinbase, SafePal, MetaMask, SpectroCoin, and Trust Wallet.
You just need to note that crypto transfers are irreversible. So, make sure you don’t send your deposit or withdrawal to the wrong address. If that happens, it’s gone forever.
Popular cryptocurrencies used for gambling include:
- Bitcoin Cash
Mobile Casino Payments
Mobile casino payments or pay-by-phone payments are just like the name suggests. These enable you to quickly upload cash to your casino account through your phone bill, typically. In terms of processing and fees, these are often a great option. Processing is instant, and the fees usually don’t exist. The negative side lies in their underperformance in being casino withdrawal methods. Mobile casino payments usually go one way only and don’t support cashing out.
Here are some popular pay-by-phone online gambling payment methods:
Money Transfer Apps
If you use various money transfer apps already, you may want to consider casinos that support those. You can make safe and instant cash transfers via these online casino deposit methods.
The good thing about money transfer apps is that most people already have them set up. In that sense, you won’t have to go through any extra steps or register for new accounts when making an Apple Pay casino payment, for instance.
Here are the most popular cash transfer apps supported by gambling sites:
- Google Pay
- Apple Pay
- Amazon Pay
- Samsung Pay
Best Casino Payment Methods – What to Consider?
There are aspects of online casino payment methods that affect every player. Knowing what to expect from them is vital for a transparent iGaming experience. We have listed and briefly explained them below. Going over each of them carefully just once will help you make smarter decisions forever.
Unfortunately, most money processing services come with fees; you must know that by now. Casinos typically cover deposit charges and sometimes withdrawal fees if they aren’t too high. That’s the case usually with e-wallets, crypto, and prepaid vouchers. Bank transfers usually have high processing fees.
If you are a low roller, you want a small minimum deposit amount. But if you’re a high roller, then you want high banking limits in general. Choose your gambling payment methods based on the limits suitable for your playing style.
Waiting for anything is irritating. Waiting for your money to arrive somewhere is especially irritating. That said, pick banking methods that enable fast transactions and casinos that provide fast processing. Usually, this is possible with the best online casino payment methods like crypto, e-wallets, and prepaid vouchers.
Creating multiple accounts, going through multiple verifications, and other hassles are what gives you a headache. Ease of use should never be overlooked. If you already have a fully functional casino payment method, go for it and enjoy your favorite games without any extra steps.
Not all options are available in all countries. UK players will feel this the strongest as they can’t use credit cards, for example. So, it’s not only about what methods the casino supports but what methods you can use from your location.
Some online casino payment methods aren’t eligible for bonuses. If you want a bonus, make sure to double-check what banking options qualify for it.
You should focus on payment and casino withdrawal methods that support your national currency, if possible. That’s how you avoid conversion fees.
How to Deposit at an Online Casino – Quick Guide
You know the best online casino payment methods by now. Let’s see how you can use them to complete your first deposit in the quick guide below.
- Visit a top-rated gambling site from our website.
- Complete registration and – if necessary – verification.
- Visit the cashier and select your preferred payment method.
- Fill out all fields with accurate details.
- Check and confirm.
Most casino deposit options will send the funds to your account within seconds. You can use those immediately.
How to Withdraw at an Online Casino – Quick Guide
Here are the basic steps for using any online casino withdrawal methods.
- Ensure you have the minimum required amount for cashing out.
- Ensure you have met any wagering requirements.
- Visit the cashier.
- Select the desired casino cashout option.
- Fill out all the fields, including the withdrawal amount.
- Check the details and submit the request.
- Wait for the casino and then the payment company to process your withdrawal.
There are two things to note here. Sometimes, you may be asked to complete KYC if this is your first cashout. If you’ve used the same casino payment method for depositing, the process may be simpler and automated as the casino already has the details.
Do I Need an Account to Use These Casino Banking Methods?
Yes, you will typically need an account of some kind to use casino bank payment methods or any other options, really. For instance, to use a credit card, you need an account with the card issuer. To use an e-wallet, you must have a funded account with the company. The same applies to using crypto wallets.
Trustly and similar online banking methods don’t require extra accounts. Yet, you’d have to have an active online banking profile. Pay by phone and prepaid vouchers are possibly the only ones that let you deposit without an account.
Banking Security at Online Casinos
Using casino payment and withdrawal methods is perfectly safe at trusted gambling sites. But what do we need to look out for to ensure that our casinos are following strict security protocols? Read on to find out how gambling sites ensure their casino payment methods work safely and smoothly.
Secure Socket Layer technology creates a highly encrypted connection between the casino and yourself to ensure that all your personal information is safe and stays out of unwanted hands. If you see a padlock or a green light near the casino URL, then you know that the website is protected under an SSL certificate.
The job of a firewall is to define a set of parameters that will allow certain traffic to and from a specific network. Casinos use firewalls to protect against unwanted traffic entering their server setup.
Most online gambling payment methods collect payment data through secure gateways. These are typically provided by the payment processors, not the casinos. So, using a trusted method like Visa, PayPal, or Skrill will ensure full security through their payment gateways.
A casino that offers a wide range of online casino deposit and withdrawal options is a clear indicator that it cares for customer security and their financial transactions. Keeping all the popular banking options available brings a sense of trust to players, and this allows them to move money to and from the casino freely.
The best online casinos are the ones that are happy to resolve disputes across any part of their website through accredited third parties or official audit trials performed by the operator.
Possible Issues With Online Casino Payments
As a player, you may face some issues with your casino payments and cashouts. That’s nothing to worry about. We’ve all had rejected payments for whatever reason, right?
Below, we’ll cover some of the most common issues gamblers face when handling their finances. And any of these can happen with any and all payment methods at casino sites.
- Geo-restrictions: Some casinos have full lists of all their supported gambling payment methods. Yet, not all of those are available in all countries. That’s why some transactions may not go through.
- Not enough funds: More often than you can imagine, money transfers don’t work because the user either doesn’t have enough funds or they have limits they’re not aware of. The casino payment methods aren’t the ones to blame for this.
- Incorrect details: If you enter the wrong details anywhere during uploading or withdrawing funds, the request will be rejected. That’s why you should always double-check everything you enter.
- Bank blocked the transaction: Some banks may block gambling transactions for whatever reasons. Even if the method you’ve used is among the online casino deposit methods supported, the bank may block it, and you may need to contact it for more info.
New Online Casino Banking Trends
We can write about online casino payment methods without mentioning how the industry constantly progresses. Companies understand the potential but also the importance of easy and secure money transfers to and from gambling sites. That’s how innovations are born, and new trends appear.
Here are some popular gambling trends regarding casino payments that you might find interesting. If you have the chance to try them, go for it. They exist to make the experience simpler, faster, and safer.
Pay N Play
Among the best online casino payment methods among European players, Pay N Play is a Trustly product. It enables instant deposits and background registration for users who have access to BankID. As it’s proven efficient and respected among players, Trustly is looking to expand the Pay N Play casino payment method availability.
MetaMask markets itself as the crypto wallet for Web3, Defi, and NFTs. It’s also perfect for instant crypto payments and fast registration. Even though it’s a relatively new product, MetaMask casinos are gaining popularity.
Revolut has been around since 2015 as a mobile banking service that minimizes charges. This attractive concept quickly brought it to gambling sites. Thanks to fast processing times, Revolut casinos are considered casino online sites with the best payment methods.
Casinos With Best Banking Methods
If you wonder what casinos have the best banking methods, there’s not a single and clear answer. The best payment options for one player may not be the top choice for another player. Plus, there are lots of geographical and legislative restrictions, as well.
In that sense, we can say that any reputable gambling site is a smart choice. You can check out the best-rated ones at GoodLuckMate and their reviews. Every review provides an overview of the casino payment methods. That should be enough to give you insights into whether it will work for you or not.