Pay and Play
It is imperative for any gaming enthusiast to familiarize with the banking process on Online Casinos. The process of wagering on online casinos requires that the customers make a deposit to their accounts on game sites before starting betting. One of the major concerns of customers of an online casino is the need to share their personal details. Online casinos generally offer the flexibility of depositing and withdrawing securely using a variety of ways.
Methods of payment on an online casino
- Bank transfer – Players can transfer money to their game accounts using direct banking services such as transferring funds online.
- Credit/Debit cards – This is one of the most popular payment methods to deposit money which is supported at many online casinos. Some of the common ones are:
- VISA – it is one of the oldest and most reputed payment methods which has been around ever since online casinos came into existence. Payments through VISA are convenient, fast, easy, safe and secure.
- MasterCard – This is a flexible, easy to use and secure payment method, which has been around for quite a long time, with innovative solutions to connect individuals with commercial institutions.
- E-Wallets – Online Casinos have the option of transacting using online wallets. These transactions are fast, safe and secure. Some of the popular e-wallets are-
- PayPal – This is one of the most popular online payment system offering customers, money transfers that are secure with benefits such as one-click transactions doing away the traditional paper methods such as cheques and money orders and thereby turns out to be the most favoured payment method for online casinos.
- Neteller – which happens to be another popular e-wallet, offers a secure method to make instant deposits and faster withdrawals, using a user-friendly interface. This payment method has gained popularity among customers all around the world.
- Skrill – a simple, secure and quick payment method for transferring funds online. It is one of the prominent rivals of Neteller and is regulated by the Financial Services Authority of the UK.
- Pre-paid cards – a debit-based payment system which does not require to be linked with a bank, unlike a debit. One such method is ‘PaySafeCard’, which can be used on an online casino, to deposit quickly and safely.
A few points that dictate the choice of a payment method for customers are –
- Trustworthiness and security of the payment mode.
- Approval by regulating authorities.
- The mode must suit the customers gaming and lifestyle needs.
- Certification of the website, the minimum requirement is an SSL certificate.
Some facts about online casino payment options
- It is normally required to make a deposit to the players’ accounts to start wagering.
- In some of the online casinos, it would not be possible for the players to withdraw their winnings with the same method as the one used for depositing.
- Players need to confirm the withdrawal limits if any on the withdrawal method before choosing one.
- The time needed to cash out winnings on any online casino depends on the payment option chosen by users.
- It is possible for customers to view the history of their transactions on an online casino through their account history in addition to the bank statements.
- Players should exercise caution while choosing a payment method and look out for rogue gambling sites which have a bad reputation regarding payouts.
Offline payment options
Players can also make use of offline payment options that include –
- eCheck – a payment option, which uses electronic checks to pay or withdraw.
- Bank Wire- This is another well-known payment method on an online casino where customers can transfer money from their bankroll.
New and Improvised payment options
As changes grip the payment systems industry, online casinos are now introducing novel features for paying or withdrawing on their sites with casino apps having integrated cashiers.