11 Best Payment Methods To Use While Gambling Online
Online gambling is a multi billion-dollar industry in the current scenario. Millions of dollars are deposited and withdrawn every single day, as players across the globe try their luck in online casinos, hoping to strike it rich.
- Have you ever thought about the different available methods to deposit all that cash for online gambling ?
- Do you want to setup an online casino account but don’t know which payment method to choose ?
Well, fret not, as we have got you covered as always. In this article we have analyzed the top 6 different payment methods that can be used for online casino sites, with each method’s key advantages and disadvantages clearly listed for your convenience.
1. Neteller
Country Of Origin : Canada
Founded In : 1999
Fees : 1-5% of total amount during Deposits.
Transfer Time : Quick deposits, instant withdrawals.
Neteller is comfortably one of the most popular e-wallets in the world right now. It has been widely praised for being a no-frills payment method and many customers prefer using it in the UK for a hassle free payment process.
Some of the best casino sites in the world such as Ladbrokes and Titan Casino proudly support Neteller and also receive the maximum number of customers using Neteller as their preferred method.
Neteller was created in 1999 in Canada, and is currently used by several million people in over 150 countries to transfer and receive funds online.
Advantages
- Protected Card Details : The credit card details entered by the users on Neteller to make online casino deposits are never disclosed to third parties and full discretion is followed.
- Account Funding Is Flexible : One of the best features of Neteller is that it accepts fund transfers from almost every other payment method, including other e-wallets, bank wire, bitcoin, or multiple credit cards.
- High Transfer Limit : One reason why Neteller is hugely popular with high rollers is because it allows users to transfer huge amounts of money in one transaction. However, different casinos may have different restrictions on the transferrable amount.
- Reward Points: Neteller offers some brilliant reward points on every transaction, and users can benefit from making regular transfers in and out of their account.
- Withdrawal Are Allowed : Neteller is very popular for the fact that it allows users to withdraw money directly from the online casinos without any hassle, unlike many other payment methods.
Disadvantage
- Fees Charged : The only real disadvantage of Neteller is that users are charged a small fee, ranging from 1-5% of the total amount, for every deposit being made. In some cases the fee charged is negligible.
5 Great Bettingsites to use with Neteller
2. PayPal
Country Of Origin : USA
Founded In : 1998
Fees : 1-4% transactional fees on money transfers
Transfer Time : Instant deposits, withdrawing takes 2-4 days.
Another extremely popular online payment method is PayPal. Not only for online gambling, PayPal is actually the most preferred payment method for all types of goods and services online.
PayPal is supported by almost every top online casino site, such as Betfair, Bet365, Ladbrokes etc.
The company was created in the USA, and has grown to become the largest online payment system globally. It is a premium electronic payment alternative, which eliminates the hassle of bank transfers and cheques. Over the past 18 years, PayPal has created a solid reputation for itself, and is widely trusted.
The security standards set by PayPal are exceptional, with features such as two-factor authentication, PIN numbers and an SSL encryption.
PayPal also has an award winning customer service, with a ‘contact PayPal’ box leading to dedicated service 24/7. The company also has brilliant rewards for its loyal users. PayPal users also get several cashbacks and bonuses when they deposit an amount using PayPal on several online casinos.
Advantages
- Free Service : PayPal is a free service with absolutely no add on payment required to operate.
- Secure Payment Method : This reputed payment method is considered as one of the safest ways to deposit and withdraw funds from all the top online casino sites. The user’s data is fully encrypted and their sensitive information is kept confidential.
- Quick Deposits : Deposits carried out through PayPal take only a few minutes. Though withdrawing can be slightly cumbersome.
- Automatic Currency Conversion : Foreign Currency is automatically converted into the required currency at the latest exchange rate for the convenience of the users.
- Mobile App : PayPal also has a very efficient mobile app, which can help users easily keep a track on their transactions. The information is safeguarded with a PIN feature.
Disadvantages:
- Cannot Be Used At All Casinos : PayPal conducts regular checks of Casino Sites, and only links up with trustworthy and reputed websites.
- Account Registration is cumbersome : Registering and setting up a new PayPal account can take a bit of time.
- Transactional Fee : There’s a small fee which applied to every money transfer carried out through PayPal.
5 Great Bettingsites to use with Paypal
3. Visa
Country Of Origin : USA
Founded In : 1958
Fees : Only during Deposits
Transfer Time : Instant deposits, but withdrawals are limited.
Visa is by the far the most commonly accepted form of payment in the world, especially in Europe. Even in online casinos, Visa is the most preferred payment method globally.
Visa is an American corporation founded way back in 1958. It helps to facilitate electronic funds across the globe. Banks all over the world are issued Visa-branded credit/debit cards for their customers.
Visa cards are extremely popular amongst online gamblers for making their payments. Casinos such as Casino.com, 777Casino, Titan Casino offer brilliant bonuses to Visa users.
Visa’s customer support is rated as amongst the best in the industry.
Advantages :
- Can Be Used Globally : It is a very reputed company with a global reach.
- Secure Payment Method : Visa is renowned for taking strict action against fraudulent behavior, hence users feel safe using it.
- Large Amounts Can Be Deposited : High rollers prefer Visa as it allows them to deposit large amounts of money into their respective online casino accounts.
- Widely Accepted : Visa is the most widely accepted form of payment as almost every single reputed casino accepts it.
Disadvantages :
- Limited Withdrawals : Though Visa is accepted by most casinos for deposits, not all of them allow withdrawals to be carried out through this method.
- Upfront Fee : Users are required to pay an upfront fee while depositing funds with visa.
5 Great Bettingsites to use with Visa
4. Mastercard
Country Of Origin : USA
Founded In : 1966
Fees : Transactional fees depending on the type of card.
Transfer Times : Instant Deposits, same day withdrawals.
Mastercard is amongst the leaders of payment options available globally. Accepted in over 210 countries by more than 25 different card companies in the world.
An American company founded jointly by several California banks in 1966, Mastercard has 4 different card types : Credit Cards, Debit Cards, Prepaid Cards and Gift Cards.
There are many elite credit cards available for special clients as well, which include some of the biggest celebrities in the world in different fields.
Mastercard has a brilliant customer support team in every country of their operations. Any transactional issue can be followed up with a trusted Mastercard employee at every local bank which issues cards.
Advantages
- Widely Accepted : The brand has achieved tremendous heights over the last few years, and is accepted at all major online stores and casinos.
- Secure Method : The user’s information is kept strictly confidential and Mastercard has enhanced safety features to prevent any sort of fraud.
- Allows Big Deposits : Mastercard users have the luxury to deposit massive amounts of money in one go, for online gaming purposes.
- Mastercard Perks : The brand is famous for the several perks it offers to all kinds of users. The country and kind of card directly affect the discounts and perks offered to the users, making it an attractive payment option.
Disadvantages
- Charges May Apply : Transactional fees are often charged depending on the kind of card being used by the user.
- US Customers Rejected : Mastercard may be rejected when used by US customers due to strict regulations.
5 Great Bettingsites to use with Mastercard
5. Skrill
Country Of Origin : England
Founded In : 2001
Fees : Small fees on deposits and withdrawals.
Transfer Time : Instant deposits, withdrawals take about 2 days.
Formerly known as Moneybookers, Skrill is a very popular payment method for online gambling, especially in the United Kingdom. Founded in 2001, Moneybookers quickly established itself as the preferred payment mode for top sites such as williamhill.
Apart from online gambling, Skrill provides a multitude of financial services to its clients over the internet.
Advantages :
- Data Is Safe : The personal data of all users is kept confidential and not given to third parties.
- Instant Access To Funds: A user can get access to his/her bankroll almost immediately with minimal waiting time, while using Skrill.
- Different Currencies Accepted : One of the best features of Skrill is that it accepts 40 different currencies from over 200 countries. This automatically makes Skrill the only available option for users from many countries who prefer using their own currency for online transactions.
- Casino Bonus : Almost every top casino site which supports Skrill also has a Skrill bonus for new users. The bonuses directly depend on the amount deposited by the users.
- 24/7 Customer Support : Unlike a few other payment methods, Skrill offers 24/7 customer support to take care of all kinds of issues a user might face. Live chat option also helps in resolving issues quickly.
Disadvantages
- Fees : A deposit fee is charged whenever a user deposits an amount using Skrill, based on the amount itself. The fee is lower than their main competitor Neteller though.
- Not accepted by all casinos : The only limitation of using Skrill is that not all casinos have yet started supporting Skrill, considering it’s a relatively new player in the market.
5 Great Bettingsites to use with Skrill
6. Bank Wire / Bank Transfer
Origin : 19th Century, United Kingdom
Fee : Multiple fees involved, overall a more expensive method than others.
Transfer Time : 3-5 days, unlike E-wallets which are usually instant.
For some old school users, who do not want to indulge in online money transactions involving credit/debit cards or e-wallets, there is always the option of the old and trusted bank transfer.
A bank transfer effectively implies the transfer of funds from one entity to another, or in this case, from a player to an online casino site. They can be executed through the user’s local bank accounts, or certain specialized cash offices.
Bank Wire transfers are extremely secure due to the absence of third parties in the transactions. Banks use top-level encryptions and security methods. The requirement of the SWIFT numbers in every transaction ensures the exclusivity of the transaction only between two bank accounts.
Advantages
- Accepted Widely : Unlike other payment methods, Bank Transfers are accepted by every single casino site. Accessibility is a complete non issue. It is also the primary payment method in a majority of the countries.
- Safe and Secure : A primary reason behind the popularity of Bank transfers is the safety that it assures its users. No third parties are involved and that makes it less likely for frauds to occur and information to be leaked.
- Large amount can be transferred : High rollers often prefer using Bank transfer as it allows them to deposit huge sums of money in one go.
Disadvantages
- Expensive : The biggest disadvantage of a bank transfer is that it is comparatively expensive, with multiple fees involved.
- Transfer Time : A bank transfer usually takes 3-5 days to materialize, unlike other e-wallets, which are usually instant.
- Unless your local bank has an online transaction form, a person cannot use bank transfers from the comfort of his/her own house. They have to get out and manually go to their bank to get it done.
5 Great Bettingsites to use with Bank Transfer
7. American Express
Country Of Origin : USA
Founded In : 1850
Fees : Usually higher than other cards such as Visa.
Tranfer Time : 3-5 working days.
American Express is currently one of the most well known and admired brands in the world. It has been recently ranked as the 22nd most valuable brand in the world, with an estimated valuation of $14.97 billion.
American Express is one of the most trusted names in the industry, which explains its popularity with online gamblers despite the slightly higher fee involved. It is also considered prestigious to own an Amex card, with several bonuses such as lounge entry at international airports as well as concessions at top restaurants all over the world.
Amex is also famous for its impeccable customer service. With a 24/7 tech support, available in several languages around the world, Amex always puts the customers first.
Advantages
- Membership Rewards : Amex have the best rewards schemes for its members. One of the best features offered is that of a supplementary card i.e a member can add a supplementary card of someone they trust and each time that person makes a transaction, the member can obtain loyalty points.
- High Rollers : Amex is the ideal payment option for high rollers looking to deposit large sums of money for online gambling.
Disadvantages
- Not All Casinos Accept : Despite its undoubted popularity all over the world, Amex is still a newbie when it comes to online gambling payment options. Hence, many top casinos have not yet associated with Amex to register it as a valid payment option.
- Higher Fees : Since there is a prestige tag associated with the card, there is a comparatively higher fee charged on the card per transaction.
- Withdrawal Time : Withdrawals via the American Express card usually take more time than other cards, with an average of 3-5 working days.
5 Great Bettingsites to use with American Express
8. Check Payment
Origin : 1717, Bank Of England
Transfer Time : 5-10 working days, more than any other method.
Fee : Separate fees for deposits and withdrawals, usually higher than other methods.
Bank checks have been around since several decades now, and while they are still widely used all over the world to process large payments, check payment isn’t exactly the most suitable option when it comes to online gambling payment.
In the current scenario, there are still a few gamblers who prefer using bank checks for their payment. This is primarily because they do not have faith in online transactions and would prefer doing things traditionally. Apart from that, the only people who prefer checks are those who are unable to make payments via their credit cards at particular casinos which do not accept those cards.
There are no real advantages of using checks for online gambling payments, though one glaring disadvantage is the time taken for the check to process. A check can take anywhere between 5-10 working days to process, much more than any other methods.
Another disadvantage is that checks can easily be stolen or altered. There is not encrypted technology which prevalent in online transactions for additional security.
Checks are also costly for the casinos as well as the banks, plus withdrawing via checks is a very cumbersome process.
5 Great Bettingsites to use with Check Payment
9. Zimpler
Country Of Origin : Sweden
Founded In : 2016
Fees : Small fee charged on all transactions
Tranfer Time : Instant deposits and Withdrawals.
Zimpler is one of the latest payment methods to come out of Europe, and is proving to be a popular choice amongst online gamblers in recent times.
Zimpler is a Swedish E-wallet, which makes it extremely convenient to pay and receive payments online across various dimensions.
The USP of this E-wallet is that is very mobile-friendly, considering we live in the age of smartphones. Scandinavian gamblers swear by its reliability and its suitability for online gambling in particular.
Advantages
- Mobile Payments : Zimpler allows customers to make transactions through their mobile handsets. This enables gamblers to make deposits no matter where they are.
- Anonymous deposits : To keep your privacy intact, Zimpler allows deposits to be made anonymously to online casinos.
- Approved : Zimpler is approved by the Financial Services Authority, ensuring that it is a trustworthy and reliable portal.
- Bankroll Limit : Customers can limit their online gambling by setting their own limit on Zimpler. This is important for compulsive gamblers who would otherwise lose a lot of money due to their gambling obsession.
- Customer Support : Zimpler is widely appreciated for its customer support team, which is on hand 24/7 for all sorts of queries.
Disadvantages
- Fees : Every single transaction made through Zimpler involves a small fee, which is sent to the customer via email and has to be paid withing 14 days.
- Unpaid Fees : All unpaid bills lead to daily charges, which are borne by the customer each time he forgets to pay the fees.
- No App : Despite being a mobile friendly E-wallet, Zimpler still doesn’t have a mobile app of its own, which makes it extremely convenient to use.
- Not a global brand yet : Zimpler is primarily used in the Scandinavian countries, and very few other European countries. It has virtually no presence in the USA.
5 Great Bettingsites to use with Zimpler
10. Citadel
Country Of Origin : USA
Founded In : 2000
Fees : No fees charged
Tranfer Time : Instant deposits, however withdrawals are complicated.
Citadel instant banking was setup in 2000, with the aim of helping a customer choose his own preferred internet banking method. Citadel supports more than 200 different banks spread over 33 countries.
Citadel is basically an E-wallet which facilitates payment through the usual banks of the customer’s preference. It expedites the whole process and doesn’t charge any service fee, though the local banks may charge their usual fees.
Advantages
- Payments made via Citadel are processed immediately, meaning players can start gambling as soon as they click on the deposit button.
- Payments are safe and secure as all the encryptions of traditional internet banking are used by Citadel.
- No service fee is charged by Citadel.
- Confidential information of every customer is never shared with any third party.
Disadvantages
- Citadel is only limited to 33 countries so far, hence many countries where online gambling is prominent, have no access to Citadel.
- Withdrawing via Citadel is not possible through many online casinos, which otherwise allow deposits to be made by the E-wallet.
5 Great Bettingsites to use with Citadel
11. Paysafe Card
Country Of Origin : Vienna , regulated in the United Kingdom
Founded In : 2000
Fees : Usually higher than other cards such as Visa.
Tranfer Time : Time consuming process to deposit.
Paysafecard is widely used by online casinos to accept deposits from gamblers, primarily in Europe. It is also a very popular payment method at thousands of e-commerce shops online.
Currently the card is active in 43 countries around the world, and approximately 1 billion customers are already using it. The USP of this method is the paysafecard allows customers to buy vouchers with a 16 digit pin, which can then be redeemed at any shop the customer likes.
Advantages
- Foreign currency can be used to pay for all kinds of goods and services.
- It is a prepaid payment method, which allows gamblers to control how much they spend effectively.
- Managing funds is very simple and accounts can be checked without any complications. A mobile app also exists, for further convenience.
- Safe and secure method, with all online encryption security features.
- Allows customers to transfer funds to other E-wallets such as Skrill.
Disadvantages
- Necessary to purchase a paysafecard before transferring funds. The customer has to first physically purchase a card/voucher from a general store and only then can he start transferring funds.
- Depositing money is a cumbersome process as you are not allowed to combine the PIN codes of different paysafe cards at online casinos.
5 Great Bettingsites to use with Paysafecard
