Online Casino Payments – An Overview

In this overview, we cover everything you need to know about online casino payments when signing-up at a new casino. The online gaming industry is the most popular form of casino gambling in the modern era, but it is not always the safest or most reliable space. Hence, especially if you are new to online gambling, it is worthwhile familiarizing yourself with various conditions and stipulations about payment methods and rules concerning depositing and withdrawing into and from your account.

An Introduction to Online Casino Payments

In today’s day and age, playing at online casinos is the most popular way of gambling. In order to enjoy playing online, players must find a casino that has many games and accessibility within their country. In addition, most players also look for casinos that have a variety of banking methods, so that they can use their preferred method in a fast, easy and safe way.

When playing at online casinos, players must choose a method for depositing funds into their account and withdrawing funds from their account. Typically, the same method can be used for both. Once you have found an online casino payment method that suits your preferred choice, you can get started with playing online. Here is a list of the most common casino banking options:

• Credit and Debit Cards
• E-Wallets
• Prepaid Cards and Vouchers
• Bank Wire Transfers
• Instant Bank Transfers
• Cryptocurrencies

In this guide to online casino payments, we take a look at what each of these methods may include. In addition, we give you an insight on the steps that online casinos take to ensure that all transactions are safe and secure.

The Most Popular Banking Method: Credit and Debit Cards

The most popular form of gambling online is with the use of credit and debit cards. This is particularly true in Europe and the United States. In France, the UK, Belgium and Spain, credit and debit cards are used for online casino banking by a large majority. Please find the percentages below:

• France – 52% of all online casino banking is done with credit and debit cards
• UK – 49% of all online casino banking is done with credit and debit cards
• Belgium – 47% of all online casino banking is done with credit and debit cards
• Spain – 36% of all online casino banking is done with credit and debit cards

Typically, the most associated credit and debit cards for casino banking are Visa, MasterCard and Maestro. The main advantage of using credit and debit cards is that it is very accessible for most players. That is because almost every single adult has one of these cards. The only disadvantage towards this is that a growing number of online casinos are starting to ban credit/debit cards for online banking payments.

The Rising Method for Online Casino Banking: E-Wallets

The most likely banking option to take over from credit and debit cards as the leading payment method are various e-wallets. They are fast becoming the most popular banking method to use because of their rapid transaction times. Usually, an e-wallet will process depositing and withdrawing transactions instantly. Sometimes, withdrawing can take up to 24 hours.

The only striking issue with e-wallets is that they tend to charge transaction fees. These are minimal amounts and can even be removed completely for loyalty program players. The most popular e-wallet worldwide is PayPal. However, here are some rapidly growing e-wallet variants:

• Paysafecard – Now owned by Skrill, paysafecard is a banking method that is made up of 16-number PIN vouchers and is known for its security.
• Skrill – A popular e-wallet method that works just like PayPal. It is available in almost every country.
• Neteller – Similar to Skrill, Neteller is a popular e-wallet that is just like PayPal. It allows you to transfer cash from your bank account straight into your online casino account with ease.
• EcoPayz – Another incredibly secure e-wallet is EcoPayz, which is becoming more and more popular for online casino transactions.

The Safe and Secure Method of Prepaid Cards and Vouchers

The safest way of online casino banking is using prepaid cards and vouchers. By using these methods, you remove the risk of a dodgy casino claiming your banking details. The most popular prepaid cards and vouchers are paysafecard and EcoPayz.

• Paysafecard – a prepaid card that is used for online gambling in the UK and Europe. It is accepted in almost every single online casino and typically does not take much in deposit fees. Paysafecard is not available in the US, but it is possible to buy one in a different location and deposit money into it electronically. This means playing at a casino that accepts paysafecard.
• EcoPayz – a prepaid card that does not require a credit check and is free to use. It is very similar to paysafecard as it allows fast and easy online deposits and withdrawals from many locations around the world.

The Standard Bank Wire Transfers

The majority of online casinos accept a variety of payment methods but especially bank transfer. These are one of the most secure banking methods because of their strict requirements. When transferring by bank, players must complete a KYC protocol, which stands for Know Your Customer.

The only negative associated with bank wire transfers is that they can take up to seven days to complete. In addition, bank wire transfers can also have rather large transaction fees for depositing and withdrawing. This makes other methods of banking more popular among casino players.

The Instant Bank Transfer Methods

Instant bank transfers are a type of wire transfer that is similar to bank wire transfers. The only primary difference between the two is that these are far more advantageous when it comes to transaction times. The most popular instant bank transfers include Trustly, iDeal and Giropay.

• Trustly – a popular instant bank transfer service that is especially popular in Europe. This third-party transfers funds straight from your bank account into your online casino account. When using Trustly, you will not need to provide any essential sensitive details to the gambling site. However, this method is mostly used for depositing, rather than withdrawing.
• iDeal – a popular instant bank transfer company that mostly operates in the Nordic part of Europe including the Netherlands. In Holland, around 54% of all casino bank transfers were complete with iDeal back in 2014. The good thing about this banking method is that there are no additional transfer charges when making a transaction.
• Giropay – A German third-party that handles deposits from a player’s bank account into their online casino account. Giropay is used in Germany with more than 80% of all banks affiliated with the company. In addition, around 75% of all Germans own a Giropay card.

Using Cryptocurrency

One of the most popular forms of online casino banking is the use of cryptocurrencies. When using Bitcoin, or any other cryptocurrency, players can guarantee a secure method that is time friendly. Using Bitcoin for online casino banking is popular in both Europe and the United States.

Some key characteristics about cryptocurrencies is that they are fast for both depositing and withdrawing. In addition, methods such as Bitcoin, Litecoin, Monero and Bitcoin Cash are vastly becoming more and more popular at online casino sites. Cryptocurrency does not require any transaction fees, meaning players do not lose any bit of their cash when making a deposit or withdrawal. Here are a few other key points about cryptocurrency:

• Instant deposits and withdrawals
• An encryption service that means all transactions can be completely anonymous and do not reveal any sensitive information
• A secure technology that makes all transactions completely safe and transparent

How Online Casino Payments Work in 2024

You will find all of these payment methods at various casinos. Obviously, the more options an online casino has, the better. To ensure that your personal details and banking information is kept safe, online casinos tend to follow a strict protocol to keep players happy in a safe environment. They may include the following:

• Firewalls – a system that can ensure that unwanted traffic does not enter the casinos servers
• Secure Socket Layer (SSL) – an encryption connection that stores all personal information by using secure keys. This can be found in the URL with a secure key sign.
• Many deposit and withdrawal methods available – an online casino that is trustable and fair will ensure a variety of banking options for their customers. It is always a positive to find many payment methods available at an online casino.
• A responsive customer support and FAQs section – an online casino that is transparent with their players is essential.
• Audits – regular and frequent audits from reputable external third parties is a fantastic way of finding the legitimacy of an online casino. If the online gambling site can verify that they have been tested and rated by a reputable independent audit, that is a telling factor.

With that said, we recommend keeping these factors in mind when choosing an online casino site. Although you may not bother with banking options at first, they eventually become a nuisance if the available options are not as convenient for you. Look for a casino where you can rest assured that your finances are at peace.

The Bottom Line

To conclude, online casino payments are not always the easiest part of gaming to navigate. However, it is crucial that you are playing at online gaming sites that cater to your own personal preferences and ease of use. At online gambling sites in Germany, such as 22Bet Casino, there are plenty of banking methods available to you with more reliable conditions.

Click here to try the live casino at 22bet Casino