If you’ve wagered with real money at a brick-and-mortar casino before, making the transition to online play might seem straightforward enough. However, there are a lot of online-specific factors to take into account. In addition to wrapping your head around new member bonuses and the mechanics of online games, you’ll also need to brush up on payment method basics. Unlike conventional casinos, you can’t simply take a stack of chips to a teller and trade them in cold hard cash.
Most online casinos accept more than one payment method, ranging from bank transfers to e-wallets. However, withdrawal times can vary wildly depending on the payment you choose. Furthermore, you may find yourself having to pay a small fee when using a particular method. To help you make a smart choice that will save you time and keep your winnings intact, read on for our handy guide on how to make sense of online casino payment methods.
Are Online Payment Methods Safe?
Provided you’re playing at a reputable online casino, your payments will be safe. When choosing a platform to play at, make sure the operator is licensed. If a casino is licensed, it will have undergone a rigorous vetting process and will need to adhere to strict regulations. With all this in place, you’re protected in the unlikely event there are any issues with withdrawals or depositing. When considering a casino, make sure licences have been issued from gambling authorities in the state you’re looking to play in.
Payment Method Options
In the past, online casinos were rather limited when it came to payment methods. In the early days of online casino platforms, users were restricted to credit and debit cards. However, much has changed in recent years.
If you’re worried about making deposits with a credit or debit card you depend on for everyday use, consider investing in a prepaid charge card instead. Alternatively, you can consider using an e-wallet. PayPal and Skrill have long been the e-wallet of choice, but new contenders have recently emerged. If you’re looking for maximum convenience, look for MuchBetter casinos when choosing a platform to play at. This innovative e-wallet is one of the most user-friendly around, with easy depositing and swift withdrawals.
You can also lean on tried and tested payment methods like bank transfers. However, bear in mind that this method usually involves clearing time after making a deposit. Similarly, you’ll have to wait a little longer for any winnings to hit your bank if you’re using the same method to withdraw from a play account.
Read the Small Print
Generally speaking, most online casinos include similar terms and conditions when it comes to payment methods and banking limits. However, it’s always worth reading the fine print if you want the best possible experience.
The key things you want to look at include deposit limits. If you’re wary of wagering too much money, go for a casino that allows you to make very low minimum deposit limits. However, if you want to take advantage of welcome promotions and deposit bonuses, it makes sense to choose a casino and payment method with a higher minimum deposit threshold.
Other things to watch for when weighing up online casinos and payment method options include withdrawal fees. A one-off withdrawal fee may be easy to swallow if you only win big once or twice, but if you’re dealing with a percentage, the dent to your winnings can be considerable.
Finally, you’ll need to consider the speed of payouts. E-wallets tend to be the quickest option for withdrawing, with such services not limited to working-day timelines. Withdrawing to your bank will typically take longer. What’s more, certain banks will only count weekdays when calculating withdrawal times.
Ultimately, you should pick an online casino and payment method that works for you. If you’re in no rush to get your hands on any winnings, you can focus more on casino offerings than the perks associated with payment methods. However, if expedited withdrawals and freedom from crippling fees are more important, payment methods should factor more into your final decision.