Casino Payment Methods
iGaming provides us with the opportunity to access entertainment from the leisure of our own homes. Playing your favourite casino games and having stakes involved are much more thrilling, but before any deposits are made, players must ensure that the payment methods are safe and secure.
Online gaming has increased over the years, and we do not expect it to stop growing any time soon! Due to the rapid growth of iGaming, technical companies have created many ways that players can feel safe when making deposits and withdrawals.
Thanks to this ever-growing use of online shopping, betting, and gaming, a vast range of online wallets and payment methods are designed to make transacting easy, fast and secure. Let us have a look at payment methods in more detail.
Payment Methods Explained
We are no longer restricted to just one banking App and one account. Technology has grown and developed over the years to provide us with endless ways to save, invest, trade, and purchase using different forms of money.
Credit cards are age-old, and they may still be a favourite amongst older players as it is familiar, which can also mean that it is the safest option for them. However, over the years, we have seen how easily credit cards can be duplicated, hacked, and stolen due to all the information appearing on the card.
eWallets are quick and efficient and act as a proxy to secure bank details. There are many options of eWallets to choose from; the security risk is that anyone can access your eWallets by stealing the device on which your eWallets are loaded.
Cryptocurrencies are taking the market by storm with their low transaction fees and almost instant exchange. However, where cryptos fall short is that the value varies depending on the cryptos’ value against your currency; this makes it less efficient.
Top Payment Methods
PayPal Info:
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It is easy to set up recurring payments -
There is a 2.9% processing fee
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Multiple currencies are available
Credit Card Info:
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It has a high-interest rate
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Transactions are lengthy as multi-level authorisation is required
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It is not accepted in all countries
Skrill Info:
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It is a digital wallet established in 2001
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It operates in 131 countries and offers multiple currencies
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Skrill is the sponsor of PokerStars, a world renown online gambling platform
Neteller Info:
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Operated by the Paysafe group, the same company that operates Skrill
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Since 2000 it has been processing payments for 85% of the world’s gambling operators
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Net+ card is available for physical transactions
Paysafecard Info:
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Since 2018 it has operated in over 40 countries
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There are no fees charged to the customer for purchasing and using the App
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From 2009 onwards, Paysafecard has won several Paybefore Awards
Euteller Info:
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Payments are almost instant
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Euteller was established in 2007
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Operated exclusively in Finland
Trustly Info:
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Trustly was established in 2008
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It supports 6300 different banks
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The open banking payment method used by more than 8000 merchants like PayPal and PayWise
InstaDebit Info:
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It is not an eWallet, and any funds not paid out will be credited to the user’s bank account after a certain period
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Only available to the Canadian market
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Transactions fees are set and do not vary; they are also low
iDebt Canada Info:
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It is only available to the Canadian market at listed banks
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You do not need to register to use the platform
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Making payments and receiving them from merchants costs no fees
iDeal Info:
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iDeal was established in 2005
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Transaction fees are low
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It is supported by fourteen of the Netherlands’ banks, which hold most of the online banking market
Citadel Info:
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The company is a “not-for-profit” company which means no income tax
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Citadel was established in 1937
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The company is a credit union, and all members must have a savings account with them. A savings account enables users to act as a part of the board and vote on future changes
ecoPayz Info:
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Ecopayz was established in 2000
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In 2009 the company was the first financial institution to launch a mobile App for iPhones
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The App allows you to send money from anywhere to anyone, whether they have the App or not
EcoCard Info:
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Casino software providers power it
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The card can be used anywhere that Mastercards are accepted
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All transactions use SSL encryption to ensure the user’s details are secure
Sofort Info:
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Sofort was established in 2005
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It has become the number-one bank transfer provider in Europe
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There is no account registration required, as they use your banking credentials
Wire Transfer Info:
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Both the sender and receiver need to belong to the same bank for the transfer to be instant; otherwise, it may take up to five business days
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Fees are very high
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The first wire transfer was launched in 1872
Entercash Info:
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Works with 4300 banks across Europe
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There are no account registrations required
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Entercash was established in 2011
Zimpler Info:
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Transactions are instant
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Zimpler was established in 2012
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It was created for the Swedish market but can now be used in most of Europe
Apple Pay Info:
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Apple Pay was established in 2014
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It is available worldwide except for Africa and some parts of Asia
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There are no additional transaction fees
Ozan Info:
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It is limited to a bank transfer or debit and credit cards when depositing money into the e-wallet
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Ozan was established in 2021
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It operates in the United States, United Kingdom and Europe
Bitcoin Info:
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Bitcoin was created in 2009
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There will only ever be twenty-one million Bitcoins mined as stipulated in the crypto’s code
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The first commercial purchase using bitcoin was a pizza; it cost 10,000 bitcoin, which was estimated to be $41
Litecoin Info:
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Litecoin was created in 2011
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It is the leading cryptocurrency used when gambling due to low fees
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Economic markets and global issues affect Litecoin more than other cryptos
Ethereum Info:
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Ethereum was funded by crowdfunding, which means it is decentralised
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It can drive the crypto market because a lot of other cryptos are run on its’ ERC-20 standard
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Ethereum was created in 2013
Dogecoin Info:
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Dogecoin was created in 2013
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It was established out of Litecoin, therefore, has fast-loading transactions
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It sponsored several NASCAR vehicles, Olympic teams and football teams
Tether Info:
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Tether was created in 2014
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It is the most popular and widely-traded stablecoin
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They offer price stability because they are pegged to fiat currencies on a 1:1 ratio
TRON Info:
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Tron was created in 2017
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Initially ran on Ethereum’s ERC-20 but switched to ICO in 2018
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There are no transaction fees
Ripple Info:
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Unlike other cryptocurrencies, the XRP tokens cannot be mined
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Ripple’s network is much faster than other major coins like Bitcoin or Ethereum
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It has extremely low transaction fees
Deposits and Withdrawals – Staying Safe
When making a payment or deposit online, users can look at the platforms’ use of Secure Sockets Layer (SSL) and Transport Layer Security (TSL) protocols. Online gaming platforms usually have these listed at the bottom of the web page or in the Privacy Policy section.
Before you spend hours playing one of your favourite games on an iGaming platform, make sure that a reputable governing body licenses the online casino. Most online casinos display their licensing certificates on their homepage.
Use a reliable and safe payment method when you have ensured the iGaming platform’s safety and would like to make a deposit. If the platform provides payment methods unknown to you, stick to well-established companies, such as MasterCard and Visa.
Top 3 Casino Bonuses
Casimba Casino
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200% up to €5,000
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Plus 50 Free Spins
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Wagering Requirement 35x Bonus
NordicBet Casino
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100% up to €500
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Plus 100 Free Spins
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Minimum deposit €20
7Bit Casino
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325% up to €7000 or 5 BTC
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Plus 250 Free Spins
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Crypto Payments Available
How to Deposit at Online Casinos
Each online casino is unique and has step-by-step instructions to make deposits, with a list of different payment methods. Although other payment methods also have different ways to process transactions, here are a few payment methods and how deposits are transacted.
How to deposit with Bitcoin
- If you do not have an account already, create a crypto account on a platform like Coinbase and buy Bitcoin by making a payment through your bank. The purchased Bitcoin can stay in Coinbase or be sent to a crypto wallet of your choice using your unique Bitcoin address.
- Copy the Bitcoin address provided by the online casino when selecting Bitcoin as your payment of choice.
- In your crypto wallet, select the transfer option.
- Each crypto wallet is different, but they will all ask for a Bitcoin address, enter the copied Bitcoin address in the field provided.
- Enter the amount of Bitcoin you wish to transfer.
- Complete the transaction by accepting the transfer. Depending on the network connection, the transaction may take up to two hours, but Bitcoin-to-Bitcoin transfers are almost instantaneous.
How to deposit with Paypal
- If you do not have an account already, create a PayPal account and make a deposit using your banking App.
- Select PayPal from the list of payment methods supplied by the online casino platform.
- You will be redirected to log in to your PayPal account using two-step authentication.
- Enter your details and proceed to log in.
- Submit a withdrawal request and enter the amount you wish to deposit into the online casino.
- Enter the PayPal details provided by the online casino to confirm the transaction.
- Complete the transaction by accepting the transfer. The transaction will be instant, depending on the network connection.
How to deposit with Skrill
- If you do not have an account already, create a Skrill account and make a deposit using your banking App.
- Select Skrill from the list of payment methods supplied by the online casino.
- Enter your email address linked with your Skrill account and the amount you wish to deposit.
- Go through the authentication process by entering your password and a six-digit code sent to your email address.
- Complete the transaction by accepting the transfer. The transaction may take a few hours, depending on the network connection.
How to deposit with Credit Card
- Select the Visa or Mastercard option from the list of payment methods supplied by the online casino.
- Enter your card number, expiry date and CVV number.
- Enter your card details like branch number, name on the card and, for international payments, the SWIFT code.
- You must confirm the payment by accepting the request via your banking App.
- Complete the transaction by entering your online payment password. The transaction may take up to three working days to reflect, depending on the network connection and the casino’s deposit processing time.
How to deposit with EcoPayz
- If you do not have an account already, create an EcoPayz account and make a deposit using your banking App.
- Select EcoPayz from the list of payment methods supplied by the online casino.
- You will be redirected to your EcoPayz account to enter your details.
- Once authorised, enter the amount you wish to deposit.
- Complete the transaction by accepting the transfer. The transaction may take a few hours, depending on the network connection.
Fastest Withdrawal Casinos
All online casinos have different ways of processing withdrawals. When requesting a withdrawal, the team in charge of withdrawals will first process your request; in some cases, additional identification documents may be required to complete the withdrawal process.
Some online casinos may process the withdrawal request within minutes, but some may take several days. Therefore, it is essential to consider their operating hours and a possible time difference.
Other than the withdrawal request, a further waiting period is expected depending on the method of withdrawal you selected. Each withdrawal method has a different time to process payments from other platforms.
Top 3 Fastest Withdrawal Casinos
The general guidelines for payment methods are as follows: Visa or Mastercard payments can take up to five working days, depending on the sending and receiving banks. eWallets can take up to 3 working days, depending on accessibility in certain countries. Finally, Crypto payments can take up to twenty-four hours, depending on the wallet used.
1. 7BitCasino
Deposit and withdrawal methods are instant from the casino’s side, which means that any waiting period may come from the payment method selected. For example, credit and debit card withdrawals may take one to three business days to process. By stating that transactions are instant, the casino confirms that withdrawals do not go through a processing system operated by a physical team but rather a robot for faster transactions.
2. Casumo Casino
In the Payment Policy section, Casumo stipulates that withdrawals using PayPal and Skrill will be processed within twenty-four hours, whereas bank transfers and other card options will take anything from one to five days. Due to ‘off-shore’ accounts, the online casino may take longer to process withdrawals to bank accounts.
3. Videoslots Casino
With a range of 20+ different payment options to choose from, Videoslots Casino instantly processes withdrawal requests. The only waiting period is stipulated by the payment method selected. Therefore the time it takes to withdraw winnings is based on the time it takes the desired payment method to process the transaction from the online casino to your bank account, eWallet or crypto wallet.
Casino Payment Methods FAQs
How long does it take for online casinos to pay out?
Payouts vary from each online casino, but the general waiting period is one to 3 days for credit or debit cards, three to five days for eWallets and up to twenty-four hours for cryptocurrencies.
Will online casinos ask for KYC before paying out?
Some casinos do KYC to verify your account, and others request a KYC when processing a large payout; it differs from each online casino.
What happens when an online casino won’t payout?
When a withdrawal request comes back as ‘denied’ after all withdrawal requirements are met, the first thing to do is to issue a complaint with its’ regulating company.
Can I deposit money to an online casino via any crypto wallet?
Every online casino will provide a list of accepted payment methods. You can make a payment from any crypto wallet that accommodates the cryptocurrencies provided by the online casino.
What is the fastest way to withdraw my winnings from an online casino?
Each online casino has a list of payment methods. Some casinos will stipulate the withdrawal time, but generally, crypto payments are the fastest.
Are my details safe when requesting a withdrawal from online casinos?
It is always important to check if the iGaming platform has SSL or TSL encryption. This information can be found in the Privacy Policy or T&Cs section.
Can an online casino refund my deposit?
You can request a refund by contacting the customer service department.
Will online casinos process withdrawals if the payment method is in someone else’s name?
Some online casinos might ask for KYC documents to process payments; if those documents match the details provided when registering an account, the amount will go through for processing.
Will my deposit method impact my bonus?
Each online casino has different deposit bonuses; there is a dedicated section for all other bonus options. In addition, some online casinos have various bonus schemes for each deposit method.
What may cause my withdrawal to be delayed?
If your account needs to be verified correctly, this may put a hold on withdrawal processing. Other reasons may include the incorrect amount selected to withdraw or designating a payment method outside your country’s jurisdiction.