The online casino market is highly competitive today. It is in the interest of online casinos to offer as many incentives as possible to attract new players. One of the ways that they achieve this is to offer multiple payment options for players to make deposits.
Players that like to use smartphones and tablets to play casino games will look for casino bonus after SMS verification. A lot of players are concerned about security. They are reluctant to use conventional methods as this means that they have to provide sensitive financial details to the online casino.
If a player’s financial information falls into the wrong hands, this can be disastrous for them. Although hacking of online casinos is relatively rare, it can happen. Clever cybercriminals know that they can sell player records for a lot of money particularly if they include financial data.
Over the last few years, a lot of different payment options for online casino deposits have emerged. Some of these are very popular because they avoid the need for the player to provide their financial information. Other methods offer anonymity which is also desired.
Conventional Payment Methods for Online Casino Deposits
For a long time, online casinos have been accepting conventional ways to make deposits. These include credit and debit cards and direct bank transfers. Using a credit or debit card is still the most popular method for players to make deposits. This is true for the United States and major European countries such as the UK, Spain, Belgium and France.
The reason for this popularity is the accessibility of these cards. No matter where players are located around the world, they can normally get a credit or debit card from a financial institution. Nowadays, there are restrictions placed on the use of credit cards for online gambling. Some issuing banks will not allow this at all.
E-Wallets for Casino Deposits
E-Wallets are another popular way to fund online casino accounts. One of the advantages that e-wallets have over cards is that it is much easier to make withdrawals with them. An e-wallet provider such as PayPal, will charge transaction fees though. While PayPal is the most popular e-wallet solution there are others available such as:
- Skrill
- Paysafecard
- EcoPayz
- Neteller
Each of these offer different advantages to the online casino player. Skrill works in a similar way to PayPal and is regulated by UK financial law. Players from a number of different countries can obtain a Skrill account. The Paysafecard provides a more secure way to make deposits as it is a prepaid card which players can fund with vouchers. There is a 16 digit security code used.
EcoPayz is also well-known for its secure features. This payment method is growing in popularity. For a long time, Neteller was a leader in online casino payments and is still commonly used today. Most online casinos accept Neteller and players can make fast deposits and withdrawals with it.
Payment Methods for Instant Bank Transfers
The problem with conventional bank transfers is that they tend to take a long time. Players also have to provide financial details to the online casinos. To overcome these issues, there are relatively new payment methods available.
A service that is very popular among online casino players is Trustly. Players can transfer funds from their private bank accounts into their Trustly account and then use these funds for online casino deposits. This is faster than a bank transfer and there is no requirement to share financial information with the online casino.
There are other similar services emerging across Europe. The iDEAL service works in a similar way to Trustly and is popular with players from the Netherlands. In Germany, players like to use the Giropay service. A lot of German banks have signed up with Giropay and more online casinos are accepting it nowadays.
Using your Phone to make a Deposit
In some countries and with some mobile operators, players can make deposits using their mobile phone accounts. The deposits are smaller and subjected to daily limits which usually do not exceed $30.
A lot of online casinos now accept this method of payment. When a player uses this payment method, they have to enter their deposit amount and their mobile phone number. After confirming the transaction using SMS, the deposit amount is added to their next phone bill.
Anonymity with Cryptocurrencies
The use of cryptocurrencies for deposits and withdrawals at online casinos is becoming increasingly popular. If a player does not hold any crypto currency they can go to an online exchange and convert their fiat currency into Bitcoin, Ethereum, Bitcoin Cash, Litecoin and so on.
Online casinos like cryptocurrencies because they are based on the secure blockchain technology. Players like crypto as well because it can provide them with anonymity. Deposits and withdrawals with cryptocurrencies are usually fast and convenient.
Players need to check which cryptocurrencies the online casino that they want to play at accepts. Bitcoin is the most popular, but a lot of online casinos will also accept Ethereum, Litecoin and Bitcoin Cash. To make a deposit or a withdrawal, a player needs a crypto wallet.
Keen tech writer outside of my day job in I.T. and spending time with my family.
