One of the main worries, when it comes to playing in an online casino, is everything that is related to the monetary transactions that we need to carry out. Questions like, is it safe to give out my information to the casino, my account number or my card number? What options do I have to make a deposit or withdraw my balance? These are just a few of the many questions we often think of when we want to play in a casino. Rightly so, these are very important issues that should be addressed before starting to play and should become a fundamental criteria for you when choosing a casino.
Our intention in this article is to give you all the information you need so that you can make the right choice and avoid any inconvenience or unnecessary alarm.
Security and privacy of monetary transactions
Therefore, in doing so, your mind is at rest if you play in a legal casino. Your money together with your personal and banking information will be protected and you will not have to worry about it.
Deposits and Withdrawal of Funds
As you probably already know, the first thing you will have to do to start playing with real money in an online casino is to register and open an account. After doing so, you must then make a deposit in that account to have a balance to play with.
Many casinos establish a minimum deposit and a maximum limit that must be respected. The maximum limit is also in compliance with different laws.
Another thing to keep in mind is the time that elapses between when you carry out the deposit and when the balance is actually available in your account. This will depend on the management of each casino and also on the type of payment method you have chosen. Before making a deposit, read the casino's terms and conditions regarding payments carefully.
In most online casinos you can make a deposit through: bank cards (credit or debit); (Visa, Visa Electron, Mastercard); electronic wallets (PayPal, Skrill, Neteller), bank transfer, cryptocurrency, etc. Further on, we will detail each of the most used and well-known payments that you will find available.
Withdrawal of funds
It is also important to know all the terms and conditions established by the casino when withdrawing your balance. That is, if there are limits on the amount to withdraw (both the minimum and the maximum), the duration of time it takes to have the money available from when you withdraw it, if it is necessary to withdraw it following the same method used to make the deposit or if you have to pay a commission for withdrawing your money. All these points and more can vary depending on the casino and it is important that you know them before investing your money.
As for making deposits, operators also offer various methods to withdraw funds: cards, electronic wallets, bank transfer, etc.
Different Payment Methods
Most online casinos offer a wide variety of payment methods, both for making deposits and withdrawing funds. In this way, each player will be able to decide which method is best suited to their circumstances. You also should keep in mind that not all payment methods offered by operators allow you to make deposits and withdraw funds with the same form of payment. Sometimes they allow one method to deposit and another to withdraw.
Next up, we will talk a little more in detail about the most common payment methods used by gambling operators.
As we know, in general, bank cards are the most used payment method on the internet. The same happens in online casinos where they are also the most popular and used method. Paying with either a credit or debit card is simple, fast and safe.
There are different types of cards that are normally accepted by most online casinos. Among them we find: Visa, Visa Electron, MasterCard and American Express.
With a Visa or MasterCard card, the transfer is made instantly and is usually accepted by the majority of casinos both to make deposits and to withdraw funds.
However, American Express is the card most used by Americans and many European casinos do not accept it. So if your intention is to pay with this card, it is advisable to first check that the casino accepts it.
Electronic wallets (eWallets)
Another major choice of payment in online casinos for deposits and withdrawing money. If you are one who does not like to provide your card numbers or type your passwords on a computer, the electronic wallet is your option.
It is an online payment system that works by linking it to an account or bank card. All data is stored and it is not necessary to enter them every time you make a payment. You also have the assurance that your data is hidden and not visible to the gaming operator. This is very comfortable as everything is done automatically, you only have to worry about having a balance in the electronic wallet.
Among the most popular used electronic wallets in online casinos we find: Paypal, Moneybookers (Skrill), EcoPayz or Neteller. All of these are usually accepted by online casinos and they usually accept this method for both deposits and withdrawing funds.
It is a prepaid card that can be purchased at a point of sale with a specific balance usually between €10 and €100. The prepaid card has a 16-digit PIN assigned to it that can be used physically in a shop or for online payments. With this payment method, you just have to enter the PIN without providing any other information. Many online casinos in Europe accept this type of payment.
Trustly is a payment institution that allows immediate and very secure bank transfers.
It has a very extensive banking network, being present in most of the countries of the European Union, the United Kingdom and the Nordic countries.
Thanks to its security, easy handling and its immediacy, Trustly is increasingly being used by players in online casinos and sports betting sites alike as a choice of payment and deposit method.
One of the most traditional payment methods available. Many users still prefer to tackle payments by bank transfer as everything is done through the bank and is more reassuring to them. The majority of today's online casinos still accept wire transfers as a form of deposit or withdrawal.
Perhaps the biggest drawback a user might have, is that the payment is not effected immediately. You might have to wait for the recipient to verify receipt of payment, and the process can even take between 48 and 72 hours.
Prepaid card (Entropay)
What is Entropay? It is a virtual prepaid Visa debit card which can be accessed from any device to make payments and recharge. You can only spend the balance you have as it does not admit credits. It is a secure form of payment as long as payments can be made on any platform that accepts Visa, without the need to provide any information other than the card number. Many online casinos accept this type of payment.
Online casinos and sports betting sites have broadened their horizons and opened their doors to cryptocurrencies, especially Bitcoin. More and more operators are accepting this method of payment both to make deposits and to withdraw funds. It is a payment method that allows online transactions without having to reveal any data, which is why it is increasingly used by users.
Today, playing in an online casino and sports betting site is safe and reliable as long as they have a legal license and meet the requirements of the Gambling Commission in their respective country or countries. Both your personal and banking data and your transactions will be protected following the mandatory standards that online platforms must respect.
Therefore, always choose a legally licensed casino and play responsibly.
What is the most recommended payment method to make a deposit in an online casino?
There is no one better method than another. Each player must assess which method is best for them according to their preferences and characteristics.
Are all the payment methods offered by online casinos safe?
As we have mentioned before, if you play in a legally licensed casino, your payments will be safe and secure.
Can I switch between different methods of payments when effecting a transaction or should I always stick to the same one?
With each transaction you make, you can choose a different method of payment but be aware that in many casinos, you will be forced to withdraw the funds using the same method that you used to make the deposit. Sometimes, a casino can also stipulate a different method for just the withdrawal of funds.
Is there a minimum or maximum limit for depositing and withdrawing funds in an online casino?
Yes, there are both a maximum and minimum limit and some are established by law whilst others depend on the individual casino.
Are casinos required to go through a verification process to accept payments?
Yes, online casinos are required to verify the identity and data of the player when making payments and withdrawals.
Can I keep track of all my transactions?
Of course. You can track all of your transactions since all money movements will appear listed in your user account.