One of the fundamental steps in real money online gambling are depositing and withdrawing. There is a long range of different payment options available at online casinos, each unique with their own advantages and disadvantages. There’s no perfect payment method when it comes to online casinos.
Some are available in number of regions, others are worldwide. Here are all payment options you can come across at online casinos.
Top Online Casino Payment Options
Payment method
Min Deposit
Max Withdrawal
Payout Time
Visa
Mastercard
PayPal
Skrill
Neteller
Paysafecard
Neosurf
Interac
Instadebit
Trustly
Pay by Mobile
Boku
Payforit
Bitcoin
Apple Pay
Google Pay
Klarna
Siru
eCheck
Zimpler
Euteller
Revolut
GiroPay
American Express
Types of Payment Methods
Based on the payment method’s features, how it works and how the transactions are processed, we can put them in five different categories:
Cards
E-wallets
Prepaid cards and vouchers
Crypto payments
Online banking and transfers
Each of these has its own traits. Moreover, there are a number of different brands in each category, meaning there’s competition between them that promotes innovation and further development.
Most casino players have access to several of these, but they use one or two.
Cards
Cards, both debit and credit, are accepted at all online casinos, except for crypto-exclusive casino sites. The VISA and Mastercard logo guarantee you can conveniently deposit at your select casino site and start playing in a matter of minutes.
Pros
Widely accepted at casinos
Easy to obtain
Provide access to bonuses
Support many currencies
Fast deposits
Cons
Subject to fraud
Identity theft
Not a withdrawal method by default
However, it’s important to note that some banks in certain markets do not allow deposit to gambling businesses. The reason is that these entities are considered high risk. You may have to call your bank and seek approval.
VISA and Mastercard have been with online casinos for decades now. American Express is also available, but it’s relevant mostly to players from the US.
Overall, if it wasn’t for card fraud and revealing so much personal details when making payments, card would be the most convenient and at the same time recommend option. Online casinos are not incentivising the use of cards for deposits. If anything, the checks by gambling sites are more thorough when they see a card deposit.
E-wallets
E-wallets bring a new layer of convenience where you don’t have to show a lot of transactions on your bank statement to and from online casinos. In addition, e-wallets are usually both a deposit and withdrawal methods. This means you don’t have to withdraw via bank transfer or other way – you simply get your winnings out to the same account you’ve deposited prior. To deposit, you share only your email which is more secure than sharing your debit card number of your address with online merchants, such as casino sites.
Pros
Supports deposits and withdrawals
Widely accepted at online casinos
Support many currencies
Fast deposits
Fast withdrawals
Cons
High transaction and maintenance fees
Sometimes don’t qualify for bonuses
However, this convenience brought about by e-wallets comes at a price – significantly higher transaction and maintenance costs. Generally, players who have been in the game for longer time resort to methods like Trustly or they use crypto payments.
Prepaid Cards
If privacy is your main concern, you should opt for one of the available prepaid cards, such as Paysafecard, CashtoCode eVoucher, Neosurf or AstroPay. There are many options, but not all of them are available worldwide. Some of these don’t support all currencies.
Pros
Guarantees privacy protection
Flexible with no commitments
Widely accepted in some markets
Cons
High fees
Not a withdrawal method
Limited currency options
Sometimes don’t qualify for bonuses
You may not find all of these in regulated markets. Due to their nature, how they work, regulators are imposing more thorough KYC requirements. Because of this, as an added admin expense, regulated casinos simply remove them from their cashiers.
Even today, prepaid cards are still around and enable thousands of casino players to privately transfer the amount they are comfortable with, without worrying if they’re going to get get stuck at any point.
Besides the limited availability, the fees are also on the higher end.
Crypto Payments
Since Bitcoin went mainstream it was quickly adopted by online casinos as one of the most versatile payment solution. Nowadays, online casino sites accept more than 15 crypto currencies. The most popular ones are Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash and Solana.
CoinsPaid seems to be the most widely available crypto wallet at online casinos. MoonPay takes the second. If you are confident in your crypto knowledge, if you know how the transactions work, some casinos allow direct transactions from different wallets.
Pros
Guarantees privacy protection
Widely accepted at international casinos
Supports deposits and withdrawals
Fast deposits
Fast withdrawals
Cons
Can be hard to set up for some players
Volatile currencies
Increasing fees
Generally, crypto payments are popular among the younger audience or serious casino players. The fees vary quite a lot, depending on the crypto currency you choose to play with.
Note, there are certain online casinos that are crypto exclusive, but claim they take fiat as well. They are forcing customers to buy crypto directly at the site and then play in the chosen crypto currency.
Online Banking and Transfers
Online banking is the safest deposit and withdrawal method out of all we mentioned so far. It directly connects your bank account to the casino. Because it’s simple and efficient, the fees are generally low.
Pros
Safest payment method
High flexible limits
Withdrawals can take a few days
Low fees
Cons
Not widely accepted at casinos
Not available in all countries
If you’re are going to play casino games online and you plan on making a habit out of it, online banking is the way to go.
Choosing your Payment Method
There’s no one perfect payment method for online gambling. Online casinos are doing what they can to widen their reach by adding as many payment options as possible. However, despite all their efforts, as they target multiple markets, it’s nearly impossible for them to adjust to every single player. Nevertheless, as you need to setup your payment method once, it’s best to choose carefully at this stage before you commit to one or two.
Note, there are no rules that prevent you from having multiple payment methods to your name.
Here are some things you should consider before choosing which payment method to use at online casinos.
Payment option accessibility – realistically, which payment methods are at your disposal, or which ones you can obtain without going out of your way? The answer to this question will narrow down your options significantly.
Deposit frequency – how often do you plan to deposit? If you’re not going to play often, it’s best to go for a card deposit and see where that takes you.
Budget – it’s important to set a budget. If it’s a large amount, it’s probably for the best to stay away from prepaid cards, e-wallets and stick to online banking and/or crypto payments.
Currency options – the casinos that you want to join may not accept all currencies. To avoid additional fees on currency conversion, it’s recommended that you go for a payment method that supports that local or the accepted currency. Some prepaid cards like AstroPay and Neosurf are notorious when it comes to this.
Casino site availability – if you’re going to switch between different casino sites often, perhaps because of the welcome bonus, choose a payment method that’s widely available. If you’re into bonuses, e-wallets are not a safe bet as many online casinos won’t qualify your first deposit for the welcome offer.
Depositing at an Online Casino
Once you’ve decided on a payment method you’re going to use at online casinos, you should then find a gambling site that accepts this deposit method. To avoid any doubt, here are the steps you should take to deposit and start playing with real money.
Navigate to our respective top list featuring the online casinos that accept the deposit method you chose.
Follow the “Visit Site” link and register an account with the casino.
Verify your email.
Go to the cashier to select your chosen deposit method.
Provide the amount you wish to deposit.
Provide the required information, depending on your chosen deposit method, this information can vary.
Once you provide all the details, you can complete the transaction.
The money is credited to your balance – start playing with real money.
Online Casino Withdrawals
Online casino withdrawals are a bit more complicated. Casinos are very open and welcoming before you deposit. However, when the time for a payout comes, things can get interesting very quickly. This is why it’s important to play at reliable and trusted online casinos.
Before you proceed to submit a withdrawal request, check the following:
Do you have pending wagering requirements? If the answer is yes, complete them first as the withdrawal request can void your play any winnings you might be entitled to.
Do you have a payment method that supports withdrawals ready? Ensure the payment method is registered to your name. Otherwise, the casino can deny you the withdrawal.
Have you completed the KYC with the casino? If the answer is no, it’s best to do it before you submit the withdrawal request. It will simplify the procedure a lot.
Obtain a bank statement if you’ve deposited by card. The casino will seek verification and proof that you’re the rightful owner of the card and you haven’t fallen victim to any fraud.
Once you’re done with the checklist, you can proceed with the withdrawal request:
Login to your online casino account.
Enter your account dashboard.
Click or tap on the Withdrawals button in the Cashier/Wallet.
You will see the amount you can withdraw. Select a withdrawal method.
Provide the amount you wish to withdraw.
This is when the withdrawal pending period starts. It varies based on the casino’s policy.
You will receive the payment instantly or after up to five business days, depending on the withdrawal method you’ve chosen.
If you fail the KYC, you will be denied the payout. If you fail completing the wagering requirements, you will be denied the payout. It’s important you get this right.
Payment Verification and KYC
Regardless of which payment method you decide to use at online casinos, gambling sites will ask for three things by default:
Personal ID card with a photo, such as a driver’s licence, passport, or national ID.
Proof of address in the form of a utility bill or bank statement on your name.
Proof of funds, especially if it’s a larger amount you’ve deposited. Usually, the threshold is about $/€2,300 in total.
The proof of funds is a bit convoluted. Here’s why:
Payment method
Comment
Debit card
You must prove it’s on your name and that you have access to the bank account from which the casino deposit was made.
Credit card
Mostly not accepted at casinos. Where accepted, you must provide a bank statement that shows the casino deposit.
E-wallets
You must show a bank statement that shows how you funded your e-wallet account. Some casinos may simply ask for proof of ownership – meaning the details of the e-wallet account match your ID.
Crypto
You must show proof that you are the owner of the crypto wallet from which the casino deposit was made. Not all casinos enforce this. However, it’s best to be prepared.
Prepaid cards
The casino will ask for the standard KYC documents, no proof of funds will be required as long as you don’t reach high deposit overall amount. This is why the limits of prepaid cards at casinos is low.
Online banking
Online banking such as Trustly come with the least hurdles when it comes to the KYC. Besides the standard documents, you may be required to simply show the bank statement and the associating casino deposits. Generally, online banking deposits are trusted the most by online casinos.
If you register with your real first and last name, and you real address, you shouldn’t have problems registering, depositing real money, playing with real money and withdrawing real money from online casinos.
FAQs
There’s no one best payment method. Choose one that best server your gaming habits, your budget, playstyle and the casinos you prefer. Generally, casual players go for e-wallets, whereas seasoned players go for online banking.
If a casino player wins, online casinos allow players to withdraw their winnings with select withdrawal methods. In most cases, this is a bank transfer, but some casinos support e-wallets and crypto payments.
Yes, as long as you join a reputable and trusted online casino that will honor your withdrawal requests.
The deposit procedure varies from casino to casino and it also depends on what type of method you decide to use. Online casino cashiers are simple. Follow the instructions on the screen and make sure you provide true and accurate information. You can deposit with cards, e-wallets, prepaid card, crypto or online banking.
E-wallets are considered the fastest payment methods at online casinos. However, it’s important you complete the KYC (Know Your Customer) procedure if you want to take advantage of fast payouts with e-wallets.
Yes, an online casino can refuse to pay you out if you’ve used fasle information, if the payment method isn’t to your name, if you have breached the bonus terms or the overall terms and conditions at the casino.
Yes, it’s safe to use debit card at an online casino as long as the casino is locally licensed. If you’re joining an international online casino, it’s best to look for an alternative payment method, like a prepaid card, e-wallet or crypto.
