Within the ever-expanding iGaming market; poker sites, online casinos and various bookmakers offer several payment methods to cater to every player’s needs. To give players peace of mind and ensure that you will get your money without any hassles at a time frame you’ll appreciate, we offer essential info on most gambling payment methods popular with players today.
Factors to Consider
It’s your winnings on the line. Check out these crucial factors when looking for good online payment methods.
- Transaction speed
Some of the faster withdrawal methods accomplished is done through credit cards and e-wallets. Transaction speed is important particularly if you want to cash out a bonus offer with time limits. The longest transaction speeds for withdrawing your money would have to be bank transfers, which in specific cases, entail up to 5 days of processing.
- Commission charge
Most poker sites, online casinos & bookmakers do not charge additional fees for cash-outs. Bank transfers on the other hand, require a charge for both the deposit and withdrawal procedures. If you’re cashing out, you need to ensure that the amount you want to withdraw must be enough to meet the casino’s requirements once the bank takes the commission fee.
Most Used Payment Methods for Online Gambling
1. Credit and debit cards
- Visa
One of the most reliable and legitimate payment options due to its security features.
- Mastercard
User-friendly and like Visa, guarantees full protection of their customers’ transactions and data.
- Amex (American Express)
Another excellent credit card option due to its flawless, hassle-free operation. However, this option might not be available on all sites.
Note; Expect a decrease in usage of credit cards, as a ban came into place earlier this year. It will affect all casinos, bookmakers & poker sites except for non-remote lotteries.
2. Cryptocurrency
- Bitcoin
Lots of leading online casinos & poker sites are now accommodating cryptocurrency and the foremost choice is Bitcoin. Bitcoin offers instant payments most of the time but this would be based on the terms of the casino and the kind of wallet you make use of.
- Ethereum
Ethereum is keeping up with Bitcoin when it comes to casino payment endorsements. It also allows anonymous and international payments quickly.
3. E-wallets
The choice of most e-wallet users all over the world, from every industry. It offers security and agreeable transaction speeds.
- Skrill
Skrill offers the same convenience as PayPal when it comes to deposits & withdrawals. It is regulated by the United Kingdom’s FSA (Financial Services Authority).
4. Other Payment Methods
- eChecks
Lots of online operators now include eChecks as a regular payment option. It has the same functions as paper cheques and it works in the same vein as well. Transactions for this method though is done electronically.
- Bank transfer
This is another good payment method to use however, as mentioned earlier, transactions cases will differ, and the processing might last for 5 days max. This is a nice option for people who are not comfortable with online payment methods. Players can deposit their payment directly through their chosen bank. Players also need to consider that banks charge a fee for both deposits and withdrawals.
You need to settle for a payment method that is the most convenient for you to utilize time after time. Also, take the time to read the payment methods’ terms and conditions first before depositing your money.
