Depositing money is a major aspect of gambling since you can’t play and win if you don’t deposit. Luckily, there are a variety of payment methods that online casinos provide, allowing players to bank easily, safely and securely. But which method is the best?
Bank transfers are the oldest and most reliable methods when it comes to depositing funds and withdrawing your earnings. The transactions transfer directly back and forth between your casino wallet and bank account, and people appreciate the ease of use.
However, it is not without its drawbacks. For one, to set up this type of payment method, you need to provide your personal details along with your financial details. Many people don’t feel comfortable divulging such information and usually avoid bank transfers because of it.
Also, compared to other payment methods, it is rather slow – usually it takes days for bank transfers to complete. And that is why people who want to start gambling and access their winnings faster may not want to use this method.
Credit and Debit Cards
Compared to bank transfers, credit and debit card transactions are instantaneous. And the good thing is that casinos usually support all the major cards, such as VISA, MasterCard and Maestro.
While debit cards are linked to a bank account and can’t be used to pay without having funds in the account, credit cards are not. When you use a credit card, it is like you are borrowing money – you need to pay back it back and with interest. This leads to debt and can cause financial ruin if the person is a problem gambler.
Despite this, credit cards are an excellent payment method.
There are also security issues when using cards since they are the most susceptible to fraud stemming from identity theft. It is up to players to make sure that they keep their credit cards, along with their details, safe, especially when using them in public places.
E-wallets are another popular payment method on online casinos. It is very easy to open an account with e-wallet providers, as well as use them to deposit money and play. Once added to your casino account, all you need to do is provide your username and password whenever you want to use them. Most online casinos support e-wallets like PayPal, Skrill, Neteller and EcoPayz.
On top of being easy to use and highly secure, their transactions are also instantaneous. This is why they are increasingly becoming popular with people around the world.
And if you think a username and password aren’t secure enough for your needs, you can enable two-factor authentication with e-wallets. This means, on top of having to enter your password, you also need to enter a one-time pin that is sent to you via SMS.
Which One is the Best?
When you take ease of use, speed and security into consideration, it appears e-wallets are the best payment option to deposit with on online casinos. However, the method you choose ultimately depends on your circumstances and preferences.