Online Casinos: The Various Payment Methods Available to Us

Woman Holding a Card

iGambling continues to thrive from its humble beginnings when the first licences were issued on the islands of Antigua and Barbuda (in the mid-’90s) up to today, where it has become an over 14.12 billion pound per annum powerhouse. This is no shock, given the popularity of online casinos and the number of different ways available to transact.

The most important points to consider when choosing a payment method are security, ease of use and speed. The following methods cater to these points in differing proportions.

Credit & Debit Card Payments

The most prevalent method of payment are credit cards (CCs). Nearly all online casinos accept CCs. Debit cards (DCs) are also widespread.  Visa is the most popular (and accepted) method, followed by Mastercard, and American Express cards.

Wire Transfer (WT) is another method of payment. Typically this method charges for transactions, involves tedious form filling for every withdrawal, and may take days for funds to clear. WTs, although functional, are quickly becoming outdated.

With incidents of identity theft, CC fraud, surprise fees, and the existence of safer alternatives, CC (& DC) usage caters  more to ease-of-use and speed than any other factors (depending on the service provider).

Electronic Wallets (EW): Stable, Secure, & Swift

EWs are relatively easy to use, provide ample security,  and are fast (depending on the service provider). World-class EW providers like PayPal provide an extremely secure transaction environment. Neteller, also among the biggest EWs, boasts processing speeds of as little as a few seconds.

Other EWs include PayNearMe and the Pay-By-Phone method (phone call). Ecocard, ecoPayz and other providers cater predominantly to specific countries.

The UK enjoys the widest array of payment options. 

Cryptocurrencies

The newest, fast-emerging and instant payment methods are cryptos. Crypto is the safest way to transact due to its anonymous nature. Most people  know about Bitcoin, which is now widely supported and undoubtedly the most popular of the cryptos. There also exist dedicated crypto casinos that support Ethereum, Dogecoin, Litecoin, etc.  

With cryptocurrencies, speed and security are wholly catered to.

Conclusion

Be diligent when choosing a casino. The reputable ones are licensed, audited regularly and continuously employing innovative cybersecurity strategies. Opt for casinos that offer a larger range of options;online casinos like XL Bet online games are a great choice, as they offer a wide variety of payment options and most importantly secure methods of payment.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.