Most newbies and sometimes even experienced players face the situation when the casino offers many payment methods. Before starting to play, they need to choose how to make a deposit. Especially when it is the first deposit, and you have never played at this casino before. In this article, we will go through the most popular and used payment methods, we will see the benefits and drawbacks of each, and hopefully, this information will help you make the right choice and bring luck!
What You Should Know about Online Casino Payment Methods
The first and the most important thing is safety. Check the payment methods from the casino’s list and choose the well-known and international platforms. If the payment system works in most countries, it guarantees safety and reliability. If you have never heard about the payment method, and it doesn’t seem familiar to you, so no matter what conditions they offer, you shouldn’t choose it.
Secondly, pay attention to the comfort. Read what terms and conditions the method offers, the algorithm of the use and choose the system you like.
Thirdly, look at the perks the casino offers for the deposits. Many online casinos offer different kinds of bonuses like free spins when joining the website and depositing for the first time using a specific payment method. Casino bonuses are a good issue, but please, pay attention first to reliability and safety.
A Detailed Description of Popular Payment Options
Nowadays, there are a big number of payment methods – the variety is not limited to Visa/ Mastercard credit cards. Modern casinos used up-to-date methods, e.g. Bitcoin and E-wallets. Each payment method has its pros and cons, depending on your priorities. So read this guide carefully and make your own choice!
As you can guess from the name, Apple Pay is an electronic payment network made by and for Apple. So if you are a lucky iPhone owner, you are welcome to enjoy it.
An aspect of Apple Pay that’s sure to make your day is that this “cashless made effortless” is further joined by chargeless. It hints at registration and maintenance cost, which is nil for players successfully making transactions at an online casino. Neither is there any transaction fee, nor is there any payment term. The only charges levied are by the service provider, requesting 3% fees for credit card transactions. For debit cards, it’s fortunately free!
Perks of Choosing Apple Pay as a Payment Method
From the moment it was launched in the gambling market, people knew there were loads of benefits coming their way, in the shape of the following:
- Transactions here don’t require sharing personal or financial details with the gaming operators. So there’s no risk of fraud or security breach at all.
- Authentication of transactions is taken care of by Touch ID, one of those latest technologies necessitating fingerprints when placing a deposit request.
- Unlike bank transfers and credit cards, payments made through Apple Pay to a casino operator don’t incur any processing fee and are completely free of charge. The only fee is the one charged by its service provider.
- Deposits through Apple Pay are instant and occur in the wink of an eye.
- Compatibility with some industry-leading supported networks like Maestro, Visa, American Express, and MasterCard further establish its actual worth.
Minor Drawbacks of this casino payment method
Apple Pay sure does have the upper hand in efficiency, security and anonymity, but it suffers from a few drawbacks; these are the following:
- It doesn’t support withdrawals, which indicates that a player has to involve an alternative anyway, the most common ones being credit cards and bank transfers.
- Only a few of the online casino sites list it as their payment method, leaving a handful of them to choose from.
- Since it’s a service offered by the tech giant, only Apple device owners can take advantage of the benefits bestowed upon users.
Bitcoin is one or even the most popular cryptocurrency these days. It seems that everyone is involved in its activity and follows its development – all ups and downs. Because of the high popularity of this method, plenty of online casinos offer it as a method for deposits. Here are some advantages and disadvantages of using bitcoin for gambling in online casinos.
✔️ Completely anonymous: your activities cannot be traced
❌ Lots of fees to pay
✔️ Fast transactions: all find movements are instant
❌ The value fluctuates according to market movement
✔️ Increasing value: this currency can go up and down in price, and you can make a profit from these changes
❌ If you make the mistake of sending your money to the wrong wallet, it is gone!
Transactions Costs and Fees for Using Bitcoin
If you play with cryptocurrency, you have to treat it like money. However, you can only acquire BTC from cryptocurrency exchanges. The first thing you need to have is a so-called bitcoin wallet. You need to register for one, and then from there, you can buy bitcoins using your bank account or credit card.
But wait: There are transaction charges that you need to know about. If you buy bitcoins, the organization where you registered for a wallet will charge a fee.
There is no standard fee to pay, and each wallet network charges differently. But do not worry too much about this. It only costs cents, and the average fee is $0.30. Before we move on, remember that you should never tell anyone the password to this wallet. If people get access to it and send the money to someone else – it is gone, and there is no way to retrieve it!
How to Deposit to the Casino Using Bitcoin?
Once you have a bitcoin wallet, the next step is to register in an online casino that accepts this cryptocurrency. To transfer funds, you need to know the Wallet ID of the casino, and you can do this in the deposit and withdrawal area.
Remember, some casinos will charge a fee for depositing and withdrawing, so read the terms carefully! After you transfer your bitcoin, it will be turned into a real currency, and you can choose if you want to play in USD, EUR, GBP, or any currency that the casino uses.
Once you cash out, your currency will again be converted to BTC, and you may pay withdrawal fees as you do this. Some casinos will let you play in cryptocurrency, so there is no need to convert it into dollars. It may seem that there are too many fees, but wait until you see all the benefits of using bitcoin. They are worth it!
PayPal – one of the most used payment methods in the online casinos
PayPal is an online e-wallet payment system that can be used to carry out financial transactions over the internet. Since the rate of gambling online has been snowballing over the past decade has grown exponentially, the use of PayPal is equally on the rise. If you have ever had any questions about PayPal in relation to gaming online, then you came to the right place. Let’s dig in!
Pros and Cons of Using PayPal
Using this payment method in online casinos is prevalent because it presents many advantages to online gamblers using it to make payments online. Those benefits include:
✔️ Quick deposits and withdrawals: All the payments are instant, unlike other payment options that take longer because of things like verification processes. Loading your account with PayPal, cashing out is also super-fast. The duration of processing beats all other payment methods by far, and for the most reputable platform, it won’t take you more than a few hours to enjoy your cashed out earnings.
✔️ Your safety and security are guaranteed: PayPal is one of the safest ways to carry out payments to an online casino. For starters, even if you want to use funds from a connected bank account, you don’t need to provide your sensitive bank account information, which means that your personal information is anonymous and safe. Besides, its payment system is also heavily encrypted to protect user’s personal data from being tapped into by any malicious third parties.
✔️ Exclusive bonuses for using PayPal: There are some casino operators that offer bonuses and promotions for players who make their payments online.
The downsides of using this payment option when gaming online are few. The most significant of them include:
❌ Not all casinos are accepted
❌ You will incur some fees for some transactions
Skrill was established in 2001, but its name was “Moneybookers” back then. It used this name until 2011 and switched to its current name as part of a rebranding operation. In 2015, Paysafe Group purchased the company and became the largest electronic payment operator in the world. Currently, the group owns three brands: Skrill, Neteller, and PaysafeCard.
Skrill is a UK-based payment provider, and its annual revenue is more than 300 million dollars. It is used in 200+ countries and supports 40 different currencies. In 2014, they purchased UKash and further expanded its services. At the moment, PaysafeCard uses the payment infrastructure of Skrill too.
When it comes to online gambling payments, we can say that Skrill has a “monopoly” with Neteller. Both services belong to the same company, and they are the most popular electronic wallets at online casinos.
Pros and Cons of Skrill
|Lots of local currencies are supported, even Bitcoin||Fees and costs are higher when compared to similar services|
|Supported by many reputable online casinos (Royal Panda, Kaboo Casino, Dunder Casino, GUTS, Play OJO, Slots Million, Casino Cruise, etc.)||There is an additional exchange fee|
|It is also possible to withdraw funds via pre-paid cards.||Withdrawal seems to be problematic. There are many complaints on the internet.|
Costs and Fees: Is Skrill a Budget-Friendly Service?
Opening an account with Skrill is free; no payment is needed. It will stay as free for the next 12 months. However, if you do not log in to this account or use it to make a transaction within the same period, Skrill will deduct a service fee of 3 EUR per month from your account. (5 EUR after March 2019.)
Other fees and costs are as follows:
- Depositing money to your Skrill account: A 1% fee will be deducted from every transfer.
- Withdrawing money from your account: If you prefer withdrawing to your bank account, Skrill will cut a fixed 5.50 EUR fee. If you prefer using a credit card, the fee will be a fixed rate of 7.50%.
- Sending money from your Skrill account: If you are sending money to a bank account, there are no fees. However, sending money anywhere else requires a fixed fee of 1.45% (minimum 0.43 EUR).
- Receiving money to your Skrill account: This service is free of charge.
The most important thing here is the currency conversion rates. If the transfer requires changing currencies, Skrill will add an additional 3.99% fee on top of its own exchange rates. Its exchange rates are much higher than other financial facilities and change daily. So, if you select GBP as your currency and send money to an online casino that accepts only EUR, for example, this transaction will be a lot more “pricey” due to costs, fees, and exchange rates.
Founded in 1999, it took only a single year for Neteller to become the poster child of online casino payment methods. The brand is owned and operated by Paysafe Group. This holding company is headquartered in the Isle of Man, and its portfolio of e-payment brands includes Skrill, PaysafeCard, and Payolution.
Advantages and Disadvantages
Broad functionalities: As a regular e-wallet service, Neteller account allows you to send instant payments to thousands of sites, including global casinos. However, it has much more to offer apart from quick and painless online payments. This e-wallet offers a truly global solution to money transfers, which enables you to send payment in 200 countries with automatic currency conversion. Here, 22 currencies are supported for the money transfer services.
Safety hat: Neteller is a trustworthy place that will let you spend money without revealing any sensitive information to some shady third-party firms. They will protect your bank and credit card info, letting you buy, sell, gamble and whatnot from a secured standpoint. All transactions are protected by a 128-bit encryption system. It means that your transaction wears a titanium-alloy safety hat at all times, and there are zero reasons for you to worry.
Casino bonuses: Paying this way makes you eligible for casino bonuses and welcome packages. Neteller is supported by most high-rated casinos.
High costs and fees: At first glance, PayPal and Skrill offer lower transaction fees compared to this e-wallet. Neteller currency conversion fee is the same as applied by Skrill and might be considered unreasonably high.
Costs and Fees
Setting up a regular account will cost you nothing. Importantly, you will always keep your account free of charge if you continue to use it and maintain a regular balance.
Upload and withdrawal fees for a regular account are as follows:
- 2.5% fee is applied to all deposit amounts less than $20,000. Upload options include international bank transfers, local bank deposits, Visa, Skrill, Giropay, Paysafecard, Yandex Money and many others.
- Withdrawal to your bank account will cost you $10. Spending your money on merchant sites does not incur any fees.
- Sending money to another Neteller account or a money transfer requires a fixed fee of 1.45% (minimum $0.50)
- Currency conversion will add a processing fee of 3.99% to the average interbank market rates used for the transaction.
It is worth mentioning that VIP members benefit from the more advantageous withdrawal and currency conversion fees. For example, FX fees for Gold and Platinum accounts amount to 2.79% and 2.39%, respectively.
Zimpler is a mobile e-wallet. This means that you can access your funds online on your smartphone, and it is best paired with online casinos. The transactions are instant, so you can deposit to your casino account and expect to be able to play in a matter of minutes!
And the best part? You can also withdraw money using your Zimpler account. You can transfer your casino winnings to your wallet; then you have the option to use it again for gaming, send it to someone else, use it for online shopping, or withdraw – everything is just as simple as in the other top payment methods. But what are the fees and advantages of using Zimpler?
Advantages and Disadvantages
So, what are the pros and cons of using Zimpler?
|✔️ Safe – the online payment system is supervised by the Financial Services Authority. It uses high levels of encryption to protect your password and financial information.||❌ The only thing that can be disadvantageous to you is that Zimpler is a fairly new player in the financial industry. What this means is that few companies accept it as a payment system.|
|✔️ Fast – all deposits are instant and will automatically reflect on your account.|
|✔️ Mobile – you can access your funds on your smartphone.|
So, how did you like it? If you have no Zimpler account yet, get one now to have a better gaming experience. It is one of the top choices of online gamers to fund their casino balances!
Zimpler Transaction Fees
Deposits to casinos are free. However, some casinos will charge a fee if you withdraw from your casino balance to your Zimpler account. This rate varies from one casino to another, and the typical cost is 2% or $1.
Funding your Zimpler account also has a fee. Usually, Zimpler will charge between $0.93 and $5.08.
5 Things You Should Keep in Mind about Payment Methods
Here we would like to sum up the things every player should take into account when joining and registering to any online casino. When choosing the payment method for deposit or withdrawal, you are recommended to make sure that you are aware of the following options:
- The safety and security of the payment method are above everything – choose the famous international brands.
- Depositing and withdrawals are possible via different methods, such as offline payment, Apple Pay, bank transfer, credit cards, bitcoin, e-wallets.
- You must definitely check whether making a deposit and withdrawing your winnings can be provided using the same method. Sometimes they may differ, as not all payment methods allow the withdrawal.
- Remember to pay attention to the bonuses issued by the casino.
- Before choosing the method to pay, always read the terms and conditions and the restrictions of the online casino.
After some theory, it’s time for practice. Register with an online casino that we recommend and make deposits through any of the methods described. Now, you know everything about them!