Online gambling has changed entertainment as we know it. People who never had the opportunity to visit a physical casino can now experience the thrill of gambling from the comfort of their home. Along with many other things, secure online Payment methods have contributed to the process.
Because, when you win big money from online casinos, you need a safe way to withdraw them. And I’m going to share my take on the safest online payment options that you may find in the online casinos.
Credit Cards
If you didn’t know already, credit cards are by far the most used payment method for online gambling. Branded credit cards such as Visa or Mastercard have wide acceptability across the world and it has compelled online casinos to accept them almost unanimously.
Credit cards offer various security protocols such as 3D Secure, different encryptions, and so on. As you are borrowing the money from your card issue rather than spending your own money, the issuer is more careful about where your money is going.
And it results in state-of-the-art security. Another great thing is the networks like Visa, Mastercard, PayPal, etc. only partner up with legit merchants.
Neteller
If you want alternate options because you don’t want to disclose sensitive information on the internet, you can always go with e-wallets. And when it comes to e-wallets, there are few as good as Neteller.
Owned by the Paysafe Group, Neteller is one of the largest e-wallets in terms of user accounts, with over 23 million. Neteller’s history of processing gambling payments goes back to the early 2000s!
All you have to do is open a Neteller account, verify it and fund it using any of the many listed options. Once your account is funded, you are ready to roll. For example, Playtech casinos in Australia accept Neteller for both deposits and withdrawals. All of your sensitive information is safe with Neteller while you only use your email.
Skrill
Skrill is a sworn brother to Neteller. They are both owned by Paysafe Group. Skrill offers all of the same benefits as Neteller, for a lower fee. While you pay 3.5% for Neteller transactions, you only pay 1% for Skrill. But Why?
Well, Neteller is required to hold the money of the users in separate trust accounts. So, if Neteller goes bankrupt, your money is safe. However, with Skrill, that is not the case. Hence, the lower fee.
PayPal
PayPal is similar to Skrill and Neteller in that it acts as a middleman and payment gateway. It is possibly the most popular online payment method and used by millions of people worldwide. It is also widely used in the online casino industry.
To use PayPal, you must first create an account – this is a quick process and once registered, you can then either deposit money into your PayPal e-wallet or add Payment Methods. For example, you could link a Visa debit card to your PayPal account. This makes payments versatile as you can either keep money in your PayPal account or make payments directly from a bank account.
PayPal is one of the quickest online payment methods available for online casinos. It also has small transaction fees – these vary depending on your country of usage.
Bank Transfer
Bank Transfer is a simple payment method in which funds are transferred directly from the source, i.e. an online casino, to your bank account. This is another widely used payment method and is preferred by many as it cuts out any merchants, or the need to register with third-party e-wallets like PayPal or Skrill.
Bank Transfers are usually incredibly secure, and oftentimes the fees are small. However, one of the main drawbacks of this payment method is that the processing times are typically slow. In most instances, you can expect a bank transfer payment to take a minimum of three days – oftentimes it can take up to 7 working days.
Many banks have now also added extra layers of security for payments. For example, many banks utilize two-factor authentication or the use of authentication via SMS or email codes. This greatly reduces the chance of fraud.
EcoPayz
Just like Neteller, EcoPayz is an e-wallet. And it's gaining popularity quite fast. The company was founded back in 2000 which makes it one of the most trusted online payment gateways. It offers different services including EcoAccounts, EcoCard, EcoVirtual Card, EcoPayz Business Account, and EcoPayz Merchant Account.
One of the biggest selling points for this secure payment method is its support for currencies. It offers a staggering 45 currencies that definitely covers all of your gambling needs.
And for gambling needs, the EcoAccount is a perfect choice there’s no need for you to fill out any paperwork or verify anything. It’s as simple as opening an account, funding it, and start playing!
Cryptocurrency
It shouldn’t come as a surprise in the 21st century. Cryptocurrencies have been around for quite some time now and they have established themselves to be reliable and safe payment methods. You have options like Bitcoin, Litecoin, Ethereum, and so on for your online transactions.
Cryptocurrencies are decentralized so there’s no government regulating the value. It ensures transparency among users. Thousands of nodes (computers) work together in the blockchain to keep your transactions safe.
Conclusion
We live in the era of internet technology. And having the means for secure payments online is a must for us. In this post, I’ve compiled the best payment options that you can use for online gambling.
These methods are very safe and used by millions of gamblers across the world. All of them offer proprietary security protocols to safeguard your money and data. At the same time, they offer the convenience of fast transactions when compared to conventional options like bank transfers.
Go ahead and select any of the methods that you see fit and start your journey with online gambling!
