Online Casino Deposit Methods
For many people who want to get into the world of online casinos, depositing money into their casino account can be daunting. As a new player, you might wonder what options are available to you. You’ll also want to know if it’s safe to share your financial information, and if there are any common issues with gambling deposits that you should be aware of.
The good news is that depositing money at an online casino is similar to buying something from any other website. While you’ll find different options depending on your area, you’ll always have safe and secure options to play with.
Credit Cards and Debit Cards
Credit and debit cards are probably the most popular payment option in the world today. It’s only natural, then, that they are also widely used at online casino and real money slots sites as a deposit method.
When it comes to brand names, you’ll find both Visa and MasterCard as staple deposit options. You’ll also see some sites that accept deposits through American Express or other cards, though they are less common.
The main issue when depositing using a credit or debit card is whether the transaction will be accepted. Visa and MasterCard-branded cards are issued by thousands of banks worldwide, and those banks vary in their policies on how they handle gambling transactions. That means that one card may not be accepted at a certain website, but another card is. Or the first card may be accepted at other casinos.
This is an issue throughout the world, but it happens particularly in the United States. Card acceptance rates can be quite low even at regulated sites in states like New Jersey. This is because banks (and the online gambling industry) have struggled to figure out an effective system for categorizing gambling transactions. That doesn’t mean you can’t use a credit or debit card, but it does mean that it sometimes takes a bit of experimentation before finding a card/site combination that works.
Popular Deposit Methods for Online Casinos
E-Wallets
Another popular way to move money around is the use of e-wallet sites. These are places where you can store money in an account that can then be spent online or transferred to your bank account. These sites offer a convenient way to spend money online without constantly making withdrawals from your bank account, making them popular in e-commerce as well as in the online gambling industry.
Perhaps the best-known e-wallet in the world is PayPal, which is used by countless websites around the globe. You might be surprised to find that PayPal isn’t the leader when it comes to processing gambling deposits, however. PayPal only allows its services to be used by licensed websites in jurisdictions where they are regulated, meaning that many sites cannot take advantage of their services.
However, there are other e-wallets that offer similar options. Neteller and Skrill are two of the most famous ones. Neteller was once basically the only name in gambling-related e-wallets. On the other hand, Skrill is popular both inside and outside the online casino world.
Top Tip: Keep in mind that you won’t always be able to claim casino bonuses with e-wallets, but there are a lot of exceptions. For example, you can claim Sloto’Cash casino promotions with both Skrill and Neteller. That includes our exclusive $250 fixed bonus welcome offer.
Cryptocurrencies
Digital currencies are good for gamblers who want to remain private online. While your transaction is still recorded on the blockchain, no one can connect it to your name. Crypto gambling is also becoming more popular since it’s also very secure, with no details shared with the casino.
The most popular cryptocurrency in the world is Bitcoin. Ever since 2009, transactions with Bitcoin have boomed, also giving rise to Bitcoin casinos. In 2016, the second most important digital currency was created. It is known as Ether, and the platform which powers it is Ethereum.
Both process transactions faster than traditional currencies, however Ethereum is even speedier than Bitcoin. And while Bitcoin gambling is still in the lead, this is the main reason why Ethereum casinos are becoming more common.
Other cryptocurrencies you’ll find at online gambling sites include Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), and Ripple (XRP). These are also known as altcoins in the crypto world, since they were created as alternatives to the original crypto coin, Bitcoin.
Prepaid Cards
If you want to avoid sharing your financial information, prepaid cards and vouchers can be a good alternative. You won’t have to expose your credit cards online or involve your bank in your casino play. These products allow you to purchase a card or voucher with a certain value from a local vendor, then use that stored value to make a deposit at your chosen casino. You can even make these purchases in cash, eliminating the need to even have a bank account or credit card.
Perhaps the best known example in this category is Ukash, a voucher system. Based in the UK, Ukash allows individuals to buy vouchers from ATMs, kiosks or local retailers that come with a 19-digit code. That code can then be used to make purchases online at stores, casinos, or other sites.
Bank Transfers
It is also possible to use your existing bank account to fund an online gambling account. A number of different ways exist to do this. In many cases, you can initiate a wire transfer from your bank, or use an e-check to deposit funds in your casino account.
You can also deposit through online banking. This is a quick and convenient way to facilitate transfers directly to an online casino site or another merchant, pulling the funds directly from your authorized bank account. These services are often regional in scope. For instance, POLi Payments (also known as PoliPay) is one such online banking product used in both Australia and New Zealand.
These and many more methods are available at casino sites around the world, with options varying between countries and sites. Still, you’ll find many safe online casinos available in your area that allow you to deposit with the method of your choice.
