The most common payment solutions for playing real money games online
The most common reason many players now go online to play their favorite casino games is convenience. A big part of that is being able to transact online easily. Thanks to technology, online payment solutions are more diverse, casino players now have many options.
If you are planning to play real money online casino games in the near future and are wondering what options you are likely to have for making deposits into your gaming account and withdrawing your winnings, we have you covered.
Here are the popular payment methods at online casinos in 2022:
Many online casinos accept bank transfers as it is still the most convenient payment method for many players. Apart from the convenience, it also goes through a strict verification process, so all transactions are secure and safe from any money laundering schemes.
Bank transfers are usually processed within the day when we are talking about deposits. Withdrawals can take up to 5 business days and sometimes you may need to pay a convenience or transaction fee to use this option.
Also note that some banks may be strict on transactions regarding gambling activities. That is why transactions with this when playing online casino games are usually not so fast. Approvals may be required to ensure transactions are legitimate.
Another very popular option is the use of credit or debit cards. Even with other online transactions, it remains a popular choice for many. It is simply a reliable and secure way to transact with cards directly linked to a bank account.
So if you have a Visa, MasterCard, American Express and Discover card, you should be able to deposit into your gaming account quickly and easily. Some casinos also accept prepaid cards not connected to a bank account such as Paysafecard.
Generally, credit or debit card transactions are processed instantly. However, some online casinos may charge dedicated fees for its use. Withdrawal with the use of a bank card can also take a few days because it is always linked to the bank.
It is estimated that around 75% of consumers today use mobile wallets. This is even if they shop offline. Many retail stores now also accept them and it’s easy to redeem with scannable QR codes.
When it comes to online gambling, players prefer the use of digital or e-wallets like PayPal, Neteller, and Skrill. This is convenient because transactions with these are also usually processed instantly.
The same goes for payments. Online casinos generally do not charge transaction fees when using this payment method.
Many also prefer this option because these digital wallet companies have their own ways to protect their customers. If you have any problems, you can talk to them directly. That said, they may be able to help you with refunds if you need them.
A new trend in payment options is the use of cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and Bitcoin Cash. These are just some of the cryptocurrencies accepted by some online casinos. There are gambling sites that would accept more than 15 cryptos like Wild Casino.
The appealing thing about using cryptos is that most online casinos offer better bonuses for it. For example, a regular welcome bonus at Wild Casino can be as high as $5,000. However, if players deposit with cryptocurrencies instead, they can get a welcome bonus of up to $9,000.
The thing about cryptocurrencies is that the transactions are decentralized so there is less human labor involved. Generally, it is cheaper to process payments in cryptocurrency, so online casino operators usually all run out of crypto bonuses.
Some gambling sites even cater exclusively to crypto players like the Bitstarz casino. This means that they do not accept fiat currencies such as USD, CAD, AUD, INR, etc.
Crypto transactions are secure even though they are decentralized. You can easily track transactions. It’s also a good option if you want to keep your bank details private. When transacting with cryptos, all you need is a wallet address and/or a destination tag.
When shopping for a gambling site, it’s always a good idea to check what payment options are available. Payment solutions can make or break your overall gaming experience at an online casino. That said, consider which option is best and easiest for you.
However, if you avoid gambling-related transactions that your bank can trace because you plan to get a loan or mortgage in the future, avoid options such as bank transfers and credit/debit cards. Opt for digital wallets and cryptocurrencies instead.