Different Ways to Deposit on Online Casinos
Written by Phoebe
Published date · Oct. 12, 2021 | Last Updated · Dec. 14, 2022 | Read Time: 4 mins
With the growing popularity of online gambling, more alternative payment methods are emerging, and traditional payment methods are upgrading. Furthermore, players are concerned about providing online casinos with sensitive financial details, steering clear of conventional payment methods such as bank transfers. However, it can be argued that the more traditional payment methods such as bank transfers hold the most trust. The owners and operators of online casinos understand this, so they embrace new ways to make deposits and withdrawals.
Online casinos need to abide by rules and regulations if they are legitimate and have a proper operating license. Therefore, you always need to check that any online casino you want to play has a valid license.
The main reason for the strict rules in online casinos is to prevent money laundering. It is OK with most players for the online casino to have details of their name and address, for example, but they do not want their credit card or banking details stored by the casino. As a result of all of this, a lot of new online deposit methods have become available.
Some of these deposit methods are more popular than others. We will look at the most popular methods here and why they have gone viral since being introduced. It is great to know that there is so much choice for deposit methods these days. More innovative services are likely to follow as well.
The E-Wallet Deposit Method
One of the most popular deposit methods with online casinos is the e-wallet. Players like to use e-wallets because they protect their financial information from the casino. It is really easy to use most e-wallet services for both deposits and withdrawals at online casinos.
Please bear in mind that some e-wallet services are only available in certain countries. The most popular e-wallet service is PayPal which is available in a lot of countries. In some countries, though, there are strict rules about using a credit card linked to your PayPal account to make deposits. This is not permissible in the UK, for example.
The disadvantage of using e-wallet services to make deposits at online casinos is their transaction fees. However, in many cases, the fees are pretty low, and it is still worth the additional protection to use the e-wallet service.
Most people have a smartphone or tablet device and like to play casino games on these devices. So, it makes sense that services that allow you to make deposits using your phone are going viral.
There are a large number of pay by mobile casinos available online now. You can choose from different payment methods with your phone. If you like the idea of paying by mobile, both apple and android have their payment services with Apple pay and Google pay; of course, these are exclusive to each operating system and have their perks.
The Trustly Pay N Play Service
Another deposit service that is gaining in popularity is the Pay N Play service from Trustly. Here you can forget about registering with online casinos that accept this payment method. Instead, just make a deposit using Trustly Pay N Play, and you can start to play your favourite casino games almost instantly.
The transactions with Trustly Pay N Play are very fast and secure. Some online casinos will permit withdrawals using Trustly as well, and these transactions are fast as well. Unfortunately, Trustly Pay N Play is not available to players in all countries. But they are working on this and gradually expanding their reach.
Cryptocurrencies for Deposits
One of the most viral methods for making deposits with online casinos right now is cryptocurrencies. Of course, Bitcoin is the most popular Cryptocurrency, but others like Ethereum and Litecoin can also make deposits.
Making deposits using Cryptocurrency has taken off over the last few years because players can remain anonymous when they do this. In addition, Cryptocurrency uses blockchain technology that is much more secure. You can purchase cryptocurrencies through exchanges that will accept fiat currencies. To make a deposit, you will need a crypto wallet.
A pre-paid card is a way to pay for goods and services, just like a credit or debit card. The major difference between pre-paid cards and credit and debit cards is that pre-paid cards aren’t dependent on a link to savings, checking, or credit account with a financial institution.
Pre-paid cards work like credit and debit cards. They’re also called “stored value cards” since they act as a wallet of sorts that can receive money from various sources, storing it for later use.
Pre-paid cards are usually aligned with a branded card network like Mastercard or Visa, and they can be used in-store, online, and in-app.
Pre-paid cards are popular with consumers because they offer the utility of credit and debit cards without the commitment of setting up an account with a financial institution.
Pre-paid cards occupy a much smaller piece of the payments pie than traditional credit cards or debit cards, but they’re far from a niche. Casino players tend to favour cards such as the Paysafe and Entropay, both safe and secure.
Make Deposits with Neteller
Many online casinos accept Neteller as a method for making deposits. You can set up a Neteller account (if you are in a qualifying country) and then fund it using a bank transfer, debit and credit cards and other methods that are locally supported where you live.
When you use Neteller, you will not have to provide your financial information to the online casino. Transactions are quick, and you will find a lot of casinos will accept this payment method. Manage your Neteller account using their secure website.