Old School Stuff: Debit Cards
Debit cards remain among the most common payment methods for online casinos. Since nearly everybody keeps one on them, it is not surprising that most websites have this option available.
They are convenient because, unlike credit cards, players are spending money they already possess.
Most notably, the UK gambling commission banned credit card use for online betting as one of its measures to promote responsible gambling. In lieu of the convenience of quick, safe, and regulated offers, the majority of players choose best paypal casinos as a sure alternative.
The action followed a report where approximately 22% of gamblers who used credit cards were classified as problem gamblers.
Debit Cards: An Evergreen Option
- Encourage responsible play by limiting spend to cash on hand
- Withdrawals are almost as fast as deposits
- Before restrictions, debit cards were more in favor than credit cards for internet gaming
- Default withdrawal processing time: 3–5 business days
Visa or MasterCard: Which Is Better?
They are two of the most widely accepted payment providers in all sectors. However, Visa tends to be the more favored option among gamers on the internet because it contains extra security benefits, which makes it a safe one.
All the same, MasterCard is still popular and is yet accepted on the majority of gaming platforms.
New Bitcoin Casinos
Cryptocurrency casino popularity has been growing exponentially. Many have moved over to crypto platforms since transactions are faster, fees are lowered, and caps are raised.
Bitcoin is also safer since it is decentralized, allowing the gamer higher anonymity.
Bitcoin: A Casino Player's Favorite
- Fast deposits and rapid withdrawals
- Highly volatile compared to fiat money
- The majority of deposits through crypto casinos are done in Bitcoin, then Ethereum, and Litecoin
- Withdrawal time: ~2 hours (can extend up to 24 hours)
Ethereum Casinos
Ether, the Ethereum platform's native cryptocurrency, has become another major contender in online gaming.
Most websites which previously dealt with only fiat money have added Ethereum as an accepted form of payment.
While similar to Bitcoin, Ethereum is faster in transaction speed and has support for smart contracts and decentralized apps.
Ethereum: Drawing Top Casino Platforms
- Allows anonymous play and more competitive terms
- Processes faster: 2–3 hours for the majority of withdrawals
- Legal protection may be limited by jurisdiction
- Currently being implemented in many casino payment systems
Approximately 16% of Players Prefer E-Wallets
Half of local users say they like using digital wallets, and almost one-third of those are using the wallets for gambling.
Speed is the greatest benefit: most withdrawals and deposits are immediate.
They also offer anonymity, as transactions do not always show up on regular bank statements.
Neteller: Low Costs and Solid Performance
- No-fee instant deposits
- Some loading fees
- Used in almost all online gambling transactions
- Withdrawal period: 3–6 working days
- Daily withdrawal limit: approximately 800 $, with a limit of 10 daily transactions
Skrill: Unexpected Expansion in the Online Gambling Sector
- Strong anti-fraud and security measures
- Popular fees depending on the type of transaction
- A large proportion of online wallet online gambling transactions use Skrill
- Withdrawals: 1–5 business days
- Fees on withdrawals typically range between 2–4%
PayPal: The Most Popular E-Wallet
- Renowned for strict consumer protection policies
- Some casinos impose limits on monthly or annual volume of transactions
- Much of the gambling payments go through PayPal
- Withdrawal takes 2-24 hours, but it could take up to 3 days to get into your bank account
- There might be extra fees involved when withdrawing using PayPal
Always review the payment terms of the casino before depositing or withdrawing, as payment platforms vary and some may not accept all forms of payments. Nevertheless, sources such as PayPal are very popular and are accepted by most.
