A multi-billion industry that gambling is, it sees a lot of transactions on a daily basis. Avid gamblers always consider two factors: finding the best casinos to play at and the best payment options to transfer, deposit, or withdraw funds.
Here’s a lowdown on some of the best payment methods for players.
It’s been 20 years since PayPal was launched. Since then it has been synonymous with quick online payments. All the top casino sites support it; in fact, there are serious competitions on who can play the best PayPal slots online. PayPal works 24/7 and keeps updating its encryption technology to facilitate safe payments. It also uses other methods like two-factor authentication, PINs. To encourage online transactions, PayPal offers a lot of incentives like cash-backs and bonuses.
Registration is free, but there is a transaction fee of 1-4% on money transfers. You can also transact through its mobile app. Also, it’s not available at every casino site as its scrutiny standards are stringent. But if players from New Zealand decide to play at PayPal online casino NZ dollars can often be used as the preferred currency.
Neteller followed soon after PayPal. Its no-frills payment process made it very popular, users can withdraw money directly from their casino account without having to transfer it to a bank account.
This e-wallet also uses the latest technologies to keep your data safe and is used by several million people in various countries. The reward points offered by Neteller are some of the best. Like PayPal, it charges a transaction fee of 1-5%. Neteller also offers high transfer limits to users and is available at most reputable casino sites.
Skrill came in a short while after the above two giants but has quickly climbed up the charts. Previously known as Moneybookers, it not just offers an easy payment option for casinos but also provides a multitude of financial services for mobile players. With Skrill, users get instant access to funds; it also accepts payments in different currencies, which makes it popular with players from other countries where the dollar value isn’t strong. Skrill follows a stringent authentication and encryption process to safeguard players’ data. Skrill offers 24/7 support, and its casino bonuses are counted among the best in the industry. It charges a deposit fee and the only limitation is it’s not widely available at all the casinos.
Visa is one of the most popular and among the oldest payment methods. It was founded in 1958 as a means to facilitate electronic payments across the globe. It soon found favour with the casino industry and the online gamblers also started using it frequently.
Visa is known for its stringent guidelines against fraud, so its network is considered secure. Other advantages that work in its favour include its global acceptability and flexibility to deposit large amounts with no restrictions. Negative points are it has a limit on withdrawals, and you must pay an upfront fee while depositing funds.
Visa’s competition soon came with Mastercard in 1966. With a couple of attractive features like elite cards for select clients, Mastercard soon became popular globally as well as with casino players.
Mastercard’s support team is excellent. Its global acceptance made it a favourable option among players from other countries. You can pay in any currency with no hassle of security as the company follows a rigorous encryption system to safeguard transactions.
It also allows for significant deposits and offers attractive perks to casino players.
Bank transfers are one of the oldest when it comes to payment methods. With the emergence of wallets and cards, they still retain their place mainly because of the trust element. You can safely transfer large amounts of funds from one country to another with no middlemen involved. The possibility of fraud is relatively less, and they are accepted widely. The only hitch is the transfers take more time (3-5 days) and charge more fees.
This is also one of the old-school methods still used by some players who don’t trust online transactions. Some casinos limit it as checks till this date doesn’t offer any encryption technology to make them safe. Plus, the money takes a lot of time to come and prove costly for the casinos.
The Paysafe card is very popular among players from Europe where it originated. Founded in Vienna, the card is used widely in various transactions. It’s like a pre-paid card that you can use to buy vouchers with a 16-digit pin that can be used anywhere.
Managing funds become simple with it, and you can also pay for the vouchers in foreign currency or transfer the amount to other e-wallets. The only hitch would be buying a Paysafe card physically from a store before you can start transferring funds.
These are by no means the only methods available. You also have the option of Western Union; Netbanking; e-wallets like EcoPayz, WebMoney; mobile payment options like Zimpler, Boku, Payforit; or the latest cryptocurrencies like Bitcoin, Ethereum. Which option do you prefer?