Do you need help with figuring out which casino payment method works best for you? If so, you have come to the right place!
Quick deposits and withdrawals, along with safe transactions, simplicity and convenience, appeal to the majority of online gamblers. But, while there are many different payment methods offered by most casinos—they aren’t all the same.
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Payment Methods
Gone are the days when you only had one option for deposits and withdrawals online, and thanks to the increased interest in online shopping and payments—you can now choose between 5-20 different payment methods at every casino.
Personal preference plays a big part when choosing your payment method, as they all come with pros and cons. Some allow you to make instant deposits and withdrawals, while others can take hours and even days to reflect.
Fees also differ depending on the payment method you choose to use, but this can also be affected by your chosen casino platform. To make the choice a little easier—we have put together a quick guide to the most common payment options for casino gamblers.
Bank Cards
While bank card payments have dropped in popularity in recent years, it remains one of the most reliable payment methods, and one that tends to be available at almost every online casino. The other plus that comes with bank cards is that most people have them already, which means you won’t need to go through the hassle of opening new accounts.
E-wallets, or electronic wallets, are digital applications that can send, receive and store money. Most e-wallets let you deposit money into your digital wallet, and you can then use that money to make payments at online casinos and digital shops.
The most common way for this to work is that you link a bank account or bank card to your e-wallet, so that you can pay with your e-wallet even if there is no money in it, and instead, the money is taken directly from your bank account or card.
A huge benefit is that you don’t need to give up your card number, as you don’t need anything else than your login information for your e-wallet. It is also a very quick transaction method with instant deposits and withdrawals within a couple of hours.
E-Wallets
Bank Transfers
Most banks these days offer internet service to their clients, where you can manage your account and transfer money to other clients and services. Online casinos have been accepting bank and wire transfers for years, and it is a convenient transaction made through your internet bank.
Bank transfers are extremely safe, and due to most players having a bank account—it is also a highly convenient payment method. The downside is the time it might take for deposits and withdrawals to go through. This will vary from bank to bank, but some bank transfers can take hours or even days.
With payment methods that can only be used for deposits, such as Apple Pay and Google Pay, it is common to use bank transfers for withdrawals. Many casinos require players to use the same payment method for both deposits and withdrawals, but when this isn’t possible—traditional bank transfers are usually the easiest way to withdraw.
Honourable mentions also go out to:
Voucher Casinos
Another easy way to top up your casino account is through vouchers. A perfect example is CashLib, where players do not need to use credit or debit cards, keeping their information safe. The added privacy is what really makes vouchers stand out to gamblers as all you need is a PIN number printed on the voucher itself.
Crypto Casinos
It is no secret that cryptocurrency is considered the currency of the future, and more and more online casinos are catching on. There are still only a handful of trustable casinos that offer cryptocurrency as a payment method, but those that do allow you to make deposits and withdrawals through your crypto wallet.
Fees are generally low or non-existent when using cryptocurrency to fund your casino gambling, and for someone who is already familiar with how crypto tokens work—it can certainly be a convenient payment method.
Pro tip: If you struggle to find a casino accepting cryptocurrency, you can use Skrill as a practical middle man, as this e-wallet accepts crypto payments. In this scenario, you would have to use crypto to make a deposit to your Skrill account, and then pay your casino just like a normal Skrill transaction.
Examples of crypto tokens accepted at many crypto-friendly casinos:
How to Choose
Let’s be realistic—there is no payment method that works for everyone, and you will need to investigate based on your own needs, preferences and abilities. It can be confusing with so many options available, and we have put together a list of what to look for to make the choice a little easier.
Making sure you choose a secure payment method is the most important thing, as this is what will keep your money safe when gambling online. Opt for payment methods that are well-known and readily available at reputable online casinos, and don’t share your card number or e-wallet login information with anyone.
The payment methods mentioned in this article are all approved for gambling-related purposes, but if you want to pay by bank transfer or card, you do need to double-check with your bank to make sure transactions for gambling are allowed.
The number of different payment methods offered by online casinos differs. Some casinos may offer almost every single payment method there is, while others might only have a few available. Before you pick the method of your choice—double-check that your online casino offers it as an option.
Another thing to consider is that most payment methods have fees. Read up on the fees associated with your chosen payment method to make sure you aren’t losing too much money on your transactions.
Depending on the types of games you plan to play, different payment methods could be more or less convenient to you. This usually comes down to the size of deposits you will be making and it will affect your fees, etc, etc.
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Conclusion
Online casinos are gaining more and more popularity every year, and a big sales point is offering solutions that work for everyone. It may seem overwhelming at first when looking at all the different payment options offered by your favourite casino, but the truth is that this makes online gambling available to more people.
Not everyone has a bank account, and then you can use a prepaid card to fund your gambling instead. Others are hesitant to type in their card number at casinos they haven’t played at before, and here an e-wallet can be a game-changer with its slightly more anonymous setup.
The fact that many casinos are now accepting cryptocurrency also shows the versatility of the industry, and how it adapts to the needs and requests of a changing clientele.
Based on what we have seen so far—the future likely holds additional payment options for casino gamblers, to make the scene even more inclusive and welcoming.
FAQs
Frequently Asked Questions about Popular Payment Methods in Canada
Start by making sure your chosen payment method is safe and secure, and that it is one that is commonly recognized at popular online casinos. Once this is out of the way—search for one that works for you and your gambling habits.
Online casinos are very safe with all their virtual protection, such as SSL encryption, and all payment methods offered by reputable casinos are considered safe. Bank transfers were once considered the safest, but e-wallets and other payment methods have caught up and are now considered more or less equally safe.
No. You can use a prepaid card to deposit money into your casino account if you do not have a bank account, or if you prefer not to link your bank account to a casino.
Yes, e-wallets like Skrill, Neteller and ecoPayz tend to be some of the fastest payment methods for both withdrawals and deposits.
It depends on your preferences. Both are great ways of depositing and withdrawing money when gambling, and while some prefer e-wallets where you don’t have to give out your card number, others prefer the familiar method of bank card payments.
When a problem occurs, the best thing you can do is most likely to confirm with the casino customer service that the money has been sent, and then follow up with customer service for your chosen payment method.
Depending on where you are located, different rules and laws may apply that affect the availability of certain payment methods. For Canadians, this could be worth taking into consideration if you plan to gamble while traveling abroad.
It is usually required by casinos to use the same payment and withdrawal method, as this helps combat money laundering and other illegal activities. However, some payment methods are only available for deposits, and in these cases you will be able to use a different method for withdrawals.
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