If you enjoy casino games or gambling, then you’re probably already well aware that online casinos are one of the hottest segments of the market today. They’ve been growing in popularity since the early 2000s but in the last few years, that growth has been faster than ever.
One of the primary reasons that online casinos have managed to become so popular in the last decade is that digital payment options and technologies have further developed. There are now plenty of safe, secure and quick payment options when making purchases online.
We’ve all become fairly relaxed about entering payment information online – probably more relaxed than we should be. Identity theft, fraud and the theft of personal data in mass hacking breaches still happen regularly.
Online casinos are attractive targets for hackers because of the amount of personal data and banking information they deal with. Quality online casinos do their best to counteract this and invest in strong security and encryption software. If you’re playing at a legitimate casino, you can play with confidence, knowing that the payment methods that they use are safe.
All of the payment methods we’re going to discuss are secure and popular, though not every method appeals to every person. Always check the online casino payment methods that are available before you create an account. This could save you a lot of frustration and wasted time.
Choosing the right method for you
Before we dive into our list of the top payment methods at online casinos, here are some factors to keep in mind before you choose how you would like to deposit and/or withdraw your funds.
Different methods can take different lengths of time to process – if you want to always have access to your funds, you’ll want the fastest method. Do you prefer to keep your gambling budget in a distinct account? If so, you can do that with an app or by creating a new account and paying by bank transfer. If you want anonymity and privacy, many online casinos now accept cryptocurrencies.
Credit/debit cards
Credit/debit cards are how many of us pay for most goods and services online. We all know that there are some risks associated with entering our card details online, however, when you are using a trusted site that has strong encryption software, those risks are greatly reduced.
Making deposits or withdrawals with credit/debit cards is a very reliable method. There are plenty of banking protections in place as well. One thing to consider is that in some cases, credit and debit card withdrawals take slightly longer to process than digital methods do.
Bank or wire transfers
Bank or wire transfers are among the most traditional methods of sending money. In the days before online banking, you would have to go into a bank branch or visit a transfer company in order to send money via a wire transfer. Nowadays, it is a much easier process that can be done online.
E-wallets
E-wallets are one of the most convenient payment options because they don’t require you to have a physical card or an account at a bank branch. They are digital and are either entirely independent or linked to your existing bank account.
The most widely used are Apple Pay, Google Pay, Samsung Pay, PayPal and WeChat Pay. E-wallets, particularly PayPal, are one of the top ways to pay in the world of e-commerce because they are so secure and offer good protection for both buyers and sellers.
Prepaid cards
Prepaid cards aren’t just the favorite gift for people who are difficult to shop for. They are also a convenient and secure way to make deposits at online casinos. Since there is only a set amount of money on the card, your bank accounts are safe even if your card is stolen.
If you struggle with setting limits for yourself, prepaid cards could be the perfect choice. The extra step of having to add money to the card or purchase a new one could be the hurdle that causes you to reconsider if you’re actually comfortable spending more money.
Cryptocurrency
Not every online casino will accept cryptocurrencies, and many of those that do will accept cryptocurrencies only. If you enjoy the anonymity and fluctuating values that cryptocurrency can bring, this may be a good option for you. The most widely accepted coins are Bitcoin and Ethereum, though crypto casinos will often accept others.
