As a live casino player, there are a few crucial things you need to evaluate carefully before all the spinning, rolling, and dealing begins!
First, which online casino is the best place for you to have fun, which type of online games you prefer, how much money you want to spend, and last but not least, which payment method are you going to use to fund your little gambling spree.
With the number of online casinos and gaming software providers on the rise, a similar « booming » effect is happening with the banking methods for these gambling adventures. Efficient payment methods are a vital part of gambling online. Managing deposits and withdrawals, most conveniently and securely, is beneficial for both online casinos and punters.
Popular Payment Methods (A-Z)
As you can probably assume from the name, Apple Pay is a digital payment system developed by Apple Inc. It is developed to handle contactless purchases. But also available at online casinos.
Bank transfers in online casinos are most likely the safest banking option you can choose. Additionally, bank transfers have been around for a long time, and that’s why many people feel comfy with it.
It looks harder than it is to maintain a Bitcoin wallet and make virtual transactions with it. As a Bitcoin user, your personal information is completely safe and private.
Bitcoin Cash is an updated version of Bitcoin. Therefore, it is a cryptocurrency, digital money that circulates on the internet without any interventions or supervision of the regular banking system.
The reason why Boleto is so popular in Brasil? You don’t need to have a bank account. A large part of the population In Brazil doesn’t have a bank account.
Dogecoin exchanges allow you to swap between different cryptocurrency and accept traditional currencies like USD or Euros, or other major fiat currencies.
EcoPayz users need to sign up for a free account and then deposit funds into their electronic wallet. Personal or financial details are never shared between the sites that send/receive payments.
Ethereum is a product of a Swiss non-profit organization. It grew into a more flexible and more liquid blockchain network than BTC. It functions on a peer-to-peer network.
Both merchants and online casinos see Giropay as an efficient e-commerce solution. It is also perfect for customers looking for an online payment method without an intermediary.
IDebit is a secure online banking transfer method that facilitates purchasing in real-time. The service directly connects to your online banking system and is an e-wallet solution.
Opening an INSTADEBIT account is easy and fast. You only need a bank account at a major Canadian financial institution. There is no need for providing any personal information to the casino.
Instant banking by Citadel
Instant Banking by Citadel is an intermediary service that works as a direct link between your bank account and the online casino. It enables you to quickly and safely deposit funds.
As a quick and easy-to-use means of payment, Litecoin is becoming very popular, partly because more and more online casinos are accepting it for different financial transactions.
In many countries, Maestro is one of the leading card payment services and the prime debit card brand from MasterCard. It is accepted for online transactions in more than 100 countries.
Mastercard is among the most well-known payment methods. It provides an end-to-end suite of branded cards trying to cover the ever-growing financial needs of their clients.
MiFinity is offering digital financial services via a superb, and regulated platform built on cutting-edge technology. All this makes the company fully reliable and trustworthy.
MuchBetter is an online payment service offering a mobile-based e-wallet featuring the lowest fees and real-time transactions. The service is free to sign up and is available globally.
Neosurf is one of those innovative online payment solutions (pre-pay voucher), ideal for people who are most concerned about revealing their digital footprint.
Neteller’s pay online service allows instant payments to thousands of websites, while money transfer enables fast money transactions worldwide.
Nordea is a leading financial service provider in the Nordic and Baltic regions and one of Europe’s biggest banks. The registration is quick and easy. They have an App.
OP-Pohjola is one of the largest financial companies in Finland. Their online banking solutions are among the most popular digital payment methods in Finland.
One of the most popular payment methods in Mexico is a prepaid voucher Oxxo for offline cash payments. This method is widely used in the country for offline and online shopping
PayPal is one of the world’s leading online payment systems, with over 325 million accounts worldwide. This open payments platform offers its services to more than 200 markets around the world.
Paysafecards can be bought in thousands of shops worldwide. To find the nearest one, you can use the built-in search engine on the official website. The voucher values vary from £10 to £100.
PurplePay is a quick and easy way to deposit to your gaming account. This is a single-use voucher bought by a card, with no need to register beforehand.
Qiwi Wallet provides payment services that allow users to pay for a plethora of services and goods instantly. It enables users to make transactions to and from many different e-wallets.
QR Code Payment
QR code payment is a contactless mobile payment method. The payment is made by scanning the code from a mobile phone. To be able to scan the code, you need to have a smartphone.
This instant payment service has been accepted by 170 banks worldwide. It allows you to deposit money into your Skrill eWallet, or make direct purchases online.
Skrill is best know as an innovative eWallet that enables quick and secure online transfers. Millions use this digital wallet, and more than 100 brands have partnered with the company.
Sofort is a direct online payment system allowing you to pay using your online banking credentials. It’s not only fast, as you are using a familiar online banking environment, but it is also secure.
What is truly significant and groundbreaking about Tether is that it is 100% backed by real assets in the Tether deposits. One Tether is equal to a currency unit selected.
This payment method allows its users to carry out financial transactions through a secure ecosystem. You can store the money, make payments, and send cash instantly using the dedicated app.
This is a quick and convenient online payment method that best suits the LATAM countries’ consumers, most specifically Brazil, Mexico, Peru, Argentina, and Uruguay.
Trustly is an online banking payment method that allows customers to make payments and receive money directly from their bank accounts, with no extra cards, apps, or registration required.
UPayCard eWallet is free and allows you to instantly send and receive money between any UPayCard account anywhere in the world. It is available in more than 20 currencies.
Venus Point is a preferred eWallet in Asia as it is very flexible and offers attractive financial incentives, such as collecting points. They can then use these points to make other purchases.
One of Finland’s most popular alternative payment methods is the so-called ‘Verkkopankki,’ which, translated from Finnish, means online banking or online bank transfer system.
Visa is a world’s leading financial service that facilitates electronic payments through its credit, debit, business, and prepaid cards. It processes almost 200 billion transactions every year!
WebMoney is an online payment solution that allows registered users to send and receive transactions from and to other WebMoney users and online merchants.
Yandex.Money (Яндекс.Деньги) is Russia’s most prominent online payment service, used by millions of Russians daily. The company offers its services to both individual customers and enterprises.
Zimpler is an online mobile wallet and an all-in-one online payment solution. It takes care of user verification and authentication on behalf of the merchant and different process transactions.
Online and mobile banking, eWallets, prepaid cards, loyalty cards, QR codes, all sorts of localized banking options, Zotapay supports the vast majority of them.
Choosing the Right Payment Method
So, how to know which banking method would be perfect for transferring money to and from your casino balance? First, by familiarizing yourself with all the options in the market!
One of the « oldest » and most frequently seen payment methods is direct bank transfer, which works almost anywhere globally. Yes, a bank transfer is a payment solution you can bank on.
Among these so-called legacy payment methods are also various credit and debit cards. Nearly everyone in the world has at least one card in the wallet. Both physical or virtual, credit & debit cards have managed to reach widespread adoption among players and online casino providers.
Since they are issued by reputable banks, bringing a high level of trust, people tend to use them regularly in their everyday life. Furthermore, everyone knows how to pay with a card! The most popular brands are Visa, Mastercard, American Express (Amex), Maestro, etc.
However, credit cards are not the right solution for those who are not well-versed with controlling their spending. Hence, we recommend debit cards for gambling purposes as you can only spend the amount you have on the card. And one more thing, cards usually go hand in hand with some « unpleasant » fees!
Safe and Secure Payment Methods
With cybercrime and fraudulent activities on the rise, many fear that their personal and banking data may be corrupted and misused. As a result, new alternative payment methods have been devised, harnessing the cutting-edge technology to enable cost-effective and seamless payment experience featuring the highest security levels.
One of the examples of such groundbreaking solutions are eWallets. As more and more people are on a constant lookout for the easiest and safest way to make online payments, it’s no surprise that eWallets gain lots of popularity fast.
The iGaming industry is one of the examples of how fast these alterative payment options were accepted. Punters from all over the world choose eWallets as their preferred payment method.
First, depositing and cashing out with eWallets is quick and easy, and more importantly, it is safe as many of them act as a middleman between the merchant and your bank. In other words, when paying with eWallet, you don’t need to disclose any sensitive data to the third party involved.
Digital wallets apply top-notch security measures, including device pairing, one-time security codes, biometric authentication, etc. You can even consider them as gatekeepers between your bank account and a payee.
Secondly, the fees incurred when making online transactions with these digital wallets are much lower or even symbolic. Some of the widely known eWallets are Paypal, Skrill, Neteller, etc.
Among these innovative solutions are crypto casinos as well. If someone had told you some 20 years ago that you would be paying with money that doesn’t exist in a shape or form of usual currencies, you wouldn’t have believed, admit it.
Well, since 2008, when blockchain technology was invented, and the first public Bitcoin ledgers were mentioned, cryptocurrencies are thriving. Many new « coins » have entered onto the stage and won the hearts of punters thanks to full anonymity, swift transactions, and lack of fees. The most famous is the Bitcoin, but there are also Litecoin, Tether, and many more. As their popularity grows, the number of online casinos accepting them as a legit payment method grows too.
Many different options
However, besides these high-tech, advanced methods, there are many countries in the world where the economy and financial sectors are still not well developed. The majority of people living there still prefer cash payments or some localized solutions such as prepaid cards and vouchers they use to pay bills, buy groceries, and even gamble online!
With so many different options, specific payment processing gateways have emerged, aiming to support online casinos implement the majority of these methods with a single integration. In this way, they could be providing a vast array of banking methods and opening up their online gaming venues to people from around the globe! From a traditional wire transfer, credit & debit cards, eWallets, QR codes, digital gateways, to prepaid cards and vouchers funded by cash, they would be able to offer all of them.
Online casino providers could expand the clients’ base by enabling eager players from across the globe to experience some online gambling fun while safely paying with a familiar local method. Even if it means they’ll have to run to the convenience store a few times to buy a new voucher or top-up the existing one with some additional cash!
Important Things to Keep in Mind
Furthermore, here are a few more essential things you need to assess before finally picking your perfect solution:
- Is this payment method available in your favorite casino and the country of residence?
- Can you both deposit and withdraw the money with this method?
- Does this method include fees, and if yes, are they significant or symbolic?
- How long does the deposit and withdrawal last? In other words, how long do you need to wait to start playing or cashing out the winnings?
- Is it safe, and do you need to disclose sensitive personal and banking data?
So, how to know which banking method from a myriad mentioned is the one for you? Live Casino’s team of experts is here to help!
Our experienced team of professionals has checked everything for you. We bring you our honest and unbiased reviews of all the most popular banking methods offered at online casinos today.