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Choosing the right payment method in an online casino

Here, we look at the different alternatives on offer for transferring money to and from your online casino account.

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Image: Screenshot / Kevin Raposo

The coronavirus epidemic has caused a widespread change in the way billions live their day to day lives. It has also brought about significant challenges to businesses across multiple sectors. Those changes are not exclusively negative, however. As people have been forced to find ways to entertain themselves within their homes, online gaming has seen a huge surge in popularity.

For some, that has meant jumping feet-first into games like Football Manager and NBA2K as a substitute for the professional sports tournaments that are currently suspended. But another area of gaming that is more popular than ever is the online casino sector. With Las Vegas in lockdown and even the Casino de Monte Carlo temporarily closed, casinos in cyberspace are welcoming new visitors in unprecedented numbers.

If you are more accustomed to land-based casinos and planning on trying the online versions for the first time, the games on offer will be familiar enough. The most fundamental difference is that you can’t simply walk up to a cashier to buy some chips. Here, we look at the different alternatives on offer for transferring money to and from your online casino account.

Ewallets

E-wallets like Skrill and Neteller are a popular choice for online casino-goers and are an accepted payment method in the vast majority of sites. Gamers like them because of their speed and efficiency. Typically, you can move money from your e-wallet to your account, and vice versa, instantly, and often there are no charges or fees for doing so.

These e-wallets also allow high levels of anonymity, as you only provide the wallet details, not personal data. When you combine an e-wallet with a site like Mr Gold Casino, which lets you register with just a phone number, you can enjoy complete anonymity.

Debit card/bank transfer

This is the simplest option, and for many, it is the obvious solution. In years gone by, users were nervous about disclosing bank account details to online gaming sites, but today, the security measures in place mean your account information is probably safer here than it is in your wallet in a jacket pocket!

Just be aware that sometimes, bank transfers can take a day or more to complete. Also, check whether your casino of choice charges a fee for transfers of this type.

Prepaid cards

These might sound a little old-fashioned compared with digital wallets, but prepaid debit cards like Interac definitely have their place. Again, they provide a good alternative for those who cherish their anonymity. They also allow the gamer to segregate a set amount of money as a bankroll and reduce the temptation to stretch it too far.

Bitcoin / crypto

At the opposite end of the innovation, scale lies digital currency. While most industries have been slow to adopt Bitcoin as a payment method, igaming is an exception. The number of casinos accepting crypto is by no means extensive, but it is steadily growing. This payment method is particularly popular among those living in areas with banking restrictions that might prohibit other payment providers from interacting with casino sites.

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