Most popular payment methods in gambling

Payments are essential in the gambling industry, and players looking to explore real money games have access to several payment methods. Each casino supports a cluster of unique options. 

However, you’ll encounter similar options across most online gambling websites. Whether you prefer traditional VISA and MasterCard, or fancy modern digital coins like Bitcoin, gambling operators have a surplus of payment methods, so you can pick whichever option suits your needs. Below is an overview of five popular payment methods and examples available for online punters.

Credit/Debit Cards

Credit and debit cards are the most common banking options used to complete everyday transactions online and offline. Players can use VISA, MasterCard, Maestro, and several other credit/debit cards linked to their bank accounts. The option offers security, convenience and reliability. People have been using cards to complete transactions when shopping online or at a supermarket, gas station and several other point-of-sale stations. 

Although the UK Gambling Commission (UKGC) banned credit cards from UK-licensed casinos, players find credit card casinos via NonGamStopSlots because it remains one of the most popular payment methods. You can also continue to gamble with your favourite debit cards, and players looking to use credit cards can explore non-UK casinos. The benefits of using bank cards include convenience, fraud and purchase protection, higher transaction limits and free credit scores when you repay credits on time. These options are also used on virtually all offshore casinos, so you’ll find them in pretty much all reputable gambling sites.

Prepaid Cards

Prepaid cards like the Paysafecard and AstroPay Card have become popular deposit options among players seeking privacy and anonymity. Players can purchase prepaid cards offline in grocery stores, gas stations, and other outlets or online via the respective websites. Prepaid cards have come a long way and are more like eWallets, considering players can buy them online. However, they are available for deposits only. 

These cards are sold for specified prices, so you can purchase a card worth $5, $10, $100, or more if the payment system allows it. Each card comes with a unique code/PIN that denotes the value. For instance, the Paysafecard and AstroPay Card have 16-digit codes. Once players purchase the PIN, they can use it to shop online on websites that accept the prepaid card. The introduction of online PINs allows players to fund their accounts using other means, so future casinos may accommodate withdrawals to a verified prepaid card account.

Cryptocurrencies

Cryptocurrencies or digital currencies have become mainstream and popular among online punters. The most popular crypto is Bitcoin. Introduced back in 2009, Bitcoin has grown into a contemporary payment option for completing online transactions. Many eCommerce sites and ventures accept Bitcoin payments, and so do casinos. Players can send/receive money using their Bitcoin wallets, just like eWallets and banks. Many players choose cryptocurrencies over credit cards because of the offered advantages. 

Crypto payments are also secure and accommodate higher banking limits. What’s more, the system uses decentralized blockchain technology, which results in incredible anonymity. As a result, it is harder to track crypto transactions, and no banking info is required. Players also get to enjoy secure instant deposits and withdrawals. Popular cryptos used in gambling websites include Bitcoin, Litecoin, Ethereum, Tether, Dogecoin, and Bitcoin Cash. However, there are more than a hundred unique coins, and casinos in the UK accept at least a dozen of the leading options. 

Wire Transfer

Also known as bank transfer, a wire transfer is a payment method that facilitates the electronic transfer of funds from one entity or individual account to another. Wire transfers use bank networks or transfer agencies to send money across the globe and are popular casino payment options. Like credit and debit cards, these transactions are tied to your bank account, so you must open an account with the online/offline bank to achieve wire transfers. 

However, they offer security, huge banking limits, instant deposits and fraud protection. Wire transfers have also been used for decades and are reliable options used in making various online transactions. However, this method is known for slow withdrawals that take up to five days, especially on offshore gambling websites. Except for the long cash out duration, Wire Transfers are an excellent choice when gambling on UK casinos and offer top security.

E-Wallets

EWallets, e-payments or digital wallets are popular banking options across casinos in the UK and offshore. Since the introduction of PayPal peer-to-peer payments back in 1998, we can follow a tremendous development of technologies and see that many eWallets have come and gone. Others, like Skrill and Neteller, have maintained a presence on gambling websites and remain the most popular choices for players who want to play their favourite games and are looking to complete digital transactions. 

However, the gambling industry uses several eWallets. Popular examples other than PayPal, Skrill and Neteller include ecoPayz, Trustly, Apple Pay, WebMoney, Much Better, Zimpler, Interac, and many more. EWallets are popular because they don’t require a bank account and offer instant transactions. Most Skrill and Neteller casinos provide payouts within 24 hours. Some options like PayPal only need a valid email address to get started. Players can also send/withdraw money to/from their eWallets using cards, bank transfers, cryptocurrencies and other payment methods. What’s more, nearly all new online casinos support eWallets, and the payments are as secure as bank transfers. 

Conclusion

There are hundreds of individual payment methods available for online casino players. Most options fall within the categories above. You’ll also encounter unique payment methods, including e-cheques, vouchers, and pay by phone bills. It is essential to review each option before using it. More importantly, players should read the banking terms in each casino to determine supported payments, bonus eligibility, deposit/withdrawal limits, and other vital aspects.

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