Payment Methods
Deposit Methods for Online Betting
Once you’ve created an account on an online casino platform, it’s time to deposit your funds before start gambling. These days, every platform offers tons of banking options, so it may look a little bit tricky to choose the one that would work best for your.
In this article, I will present you some of the most popular deposit methods for online betting.
Debit Cards
There is no doubt that this is the most common and also one of the most convenient deposit methods around. Every online casino offers a variety of options, which usually include the most popular debit cards like Visa, Maestro, Master, Solo etc.
If you have one of these, which servers for withdrawing money from ATM and other transactions, you can use it to transfer funds to your online casino account as well.
Things are going pretty smooth and the money will be transferred instantly from your bank account to your online casino account, and is great to use at some of the minimum deposit casinos. However, things are a little bit slower when you want to withdraw your wins. This usually takes a couple of days.
Credit Cards
Credit cards are also a very popular method, which works on a similar principle as a debit card. However, the big difference is the fact that credit cards aren’t linked to directly to your bank account, but rather to a credit provider.
Therefore, a big drawback is the fact that you can only withdraw the amount of money you initially deposited. The excess cash can be withdrawn by a bank transfer, but count on fees in that case. Other than that, things are pretty typical.
Payments to your account are processed instantly, while the withdraw process usually lasts a couple of days.
Prepaid Cards
This method is becoming more and more popular. Once you buy a prepaid card, you can top up it and then deposit your online betting account. Companies like Mastercard and Visa also offer their prepaid cards.
PayPal
E-wallets are the best method in my opinion. There are plenty of them around but PayPal stands out with its quality and reputation. The biggest advantage over credit and debut cards is speed. Both deposits and withdrawals are processed instantly.
PayPal is also super safe, while another great thing is that transactions won’t be shown on your bank account, which will save you from paying some additional fees. Also, there are a lot of casinos that offers PayPal as a payment method, especially here in the UK.
Of course, Paypal isn’t the only e-wallet around. There are many more places where you can get the same or similar services. Some of the most popular are Neteller, Skrill, EcoPayz, and Apple Pay and they usually work on the same principle.
Bank Transfers
Wire transfers or bank transfers are another convenient deposit method. Still, it can be quite expensive sometimes.
While online casinos usually don’t charge these transactions, problems could come from the other side. In most cases, these transactions are between different countries and include different currencies, so fees could be very high sometimes.
Also, you should check for your online casino supports a so-called Faster Payments Service (FPS), which take just a couple of hours to finish the transaction. Otherwise, transactions could take several days.
Cash Payment Methods
Many casinos also accept Western Union and similar services. However, I wouldn’t recommend this method. It is by far the most expensive, and definitely not the fastest one.