Which Gambling Payment Method Is the Best?

Gambling online is advantageous for many reasons. One of them is that you can use a myriad of payment methods to deposit and withdraw money from your account. If you are a novice online gambler, you probably have a lot of questions regarding the use of casino payment methods, one of them being Which payment method is the best?

There isn’t a definitive answer to this question, as some players find certain methods more suitable than others. So which payment method is the best option for you will depend on your preferences and what you find practical in a given situation. That’s why we wanted to write something about each of the popular casino payment systems. 

Keep reading and you’ll be quickly able to take your pick.

Credit and Debit Cards

Credit and debit cards are still the most widely used payment service, not only for online gambling but on the entire world wide web as well. People are used to paying for stuff online with their Visa and MasterCard cards, so depositing and withdrawing with them in online casinos is a natural choice.

If you’re accustomed to using credit and debit cards too, making casino payments this way should be one of your top choices. Almost every casino allows them, and on top of MasterCard and Visa, American Express and Discover are also commonly accepted on some of the top casino sites.

The deposits are usually instant, while withdrawals might take several days to complete. Depending on the casino you’re gambling in, credit and debit card transactions might carry some transaction fees.

Prepaid Cards

Prepaid cards are not as common as credit cards, but a lot of casinos accept these on top of other more popular payment methods. Prepaid cards have a simple concept – you fund them with the desired amount you can later use for depositing in your casino account.

The advantage of prepaid cards is that you will have control over how much you’re betting. The problem with credit cards is that you almost have no limits when it comes to how much you can spend, which can be disastrous with such an addictive thing as gambling. Also, no bank account is needed to get a prepaid card.

The most popular prepaid card service in online casinos right now is called Paysafecard, but other services are present as well. Deposits are processed immediately. Unfortunately, withdrawals are usually not possible when it comes to this method, which is why some people don’t consider it a good option.

E-wallets

After credit cards, e-wallets are the most popular payment options among online gamblers. There are plenty of e-wallets that are accepted by online casinos, such as Neteller, Skrill, PayPal, Zimpler, and others. Transferring money with these services is practical and secure, and you can also use them for purchasing things on the Internet.

The issue with e-wallets is that they might have some fees associated with their use, as well as the fact that some methods like Neteller and Skrill might be excluded from casino’s bonus offers. Also, limits on certain e-wallets might be lower than you would like, and many e-wallets have strict geographical restrictions. Deposit and withdrawal processes are relatively fast.

Bank Transfers and Checks

This is a bit of an outdated method but some players still prefer it. Bank transfers are widely accepted, and they are a safe way to transfer money to and from your casino account. Another advantage is that bank transfers usually have higher deposit and withdrawal limits than other methods, which makes them a perfect choice for high rollers.

Nevertheless, not a lot of people use bank transfer and checks because the transaction process can be really cumbersome. It is expensive due to multiple fees, and the withdrawal times are greater compared to other online payment options.

Cryptocurrency

Cryptocurrency is the latest addition to online casino payment methods. If you are familiar with the concept of digital currencies, there is no reason why you shouldn’t use them for funding your casino account. Anonymity, safety, speed, high limits, and the absence of fees are just some of the advantages that online casino rooms that offer Bitcoin table games have over others. Also, some casinos offer special bonuses to their crypto customers.

The issue is that the concept of using cryptocurrencies for online payments hasn’t caught on yet in the casino world. Only a small number of online operators accepts this method, so finding a casino that does might be difficult.