When you join one of the top online casinos, the first order of business, once your account has been created, would be to deposit money or fund your player’s account. In general, things would go much smoother if you are prepared with knowledge about the banking methods at the online casino; knowing beforehand would certainly speed things up and get you on your way to enjoying your favorite casino games.
While the online casinos have gone to great lengths to make banking as fast and easy as possible, let’s be honest, there could be scenarios when funding your account may prove to be a bit more challenging than simply putting in a credit card number. Luckily, the recommended casinos on our home page should not give you any trouble. And as far as withdrawing your winnings – it should be even easier.
So, let’s take a look at how to bank at the online casinos:
#1 Bitcoin
The fastest and easiest banking option at nearly every online casino today. At the beginning, Bitcoin was this scary technological monster, fit only for the nerdiest of nerds. But in recent years the popularity of the cryptocurrency has exploded to such extend – it is truly a household name now. The online casinos were quick to jump on the Bitcoin wagon, as it cut transaction fees to near nothing, offered a very speedy processing times and made it easier not only for the casino, but for the customer, as well.
Security is one of the biggest pillars of Bitcoin, a very important feature for any business transaction on the Internet – no credit card numbers or personal information to be stolen or exposed to the world, rather a one-time transaction using a one-time Bitcoin address. If you want to bank at any online casino, Bitcoin is the best method one can choose. Funding is instant, but even more important – no more waiting for days for your withdrawal. The casinos make Bitcoin payouts measured in hours, rather than days, like it was a few years back. And even if you haven’t dabbled into crypt yet, there are plenty of idiot-proof Bitcoin guides on the internet, which will show you how to get started in minutes.
Oh, but wait, there is more. Because of the fees the casino will have to swallow with credit card transactions, not to mention the not-so-stellar success rate when using your credit card at gambling websites, the online casinos want to steer more people towards banking with Bitcoin, and hey do this by offering amazing bonuses and reload offers to those customers who use the popular cryptocurrency. So not only do you get to reap the many benefits Bitcoin offers, but you will be able to cash in plenty of free casino money, just for banking with the crypto! See our list of Bitcoin casinos to learn more or compared bonus offers.
#2 Credit Cards
Despite the affinity of the online casinos towards Bitcoin, many of their customers continue to bank with credit cards. Whether out of familiarity or unwillingness to learn how to bank with Bitcoin, a lot of people choose to use credit cards when depositing at their favorite online casino. The drawback here is that plastic is asynchronous – players cannot get their winnings paid to a credit card, so slower payout methods must be chosen for the opposite transaction.
In addition, a lot of banks have decided not to allow their customers to use their credit (or debit) card at gambling websites, thus sometimes attempts to deposit funds into your casino account would simply be declined by your bank and there is nothing you can do about it. The three major credit cards are accepted at almost all online casinos – Visa, MasterCard and Amex, while Discover is nearly impossible to use. Keep in mind that even though you may have made a deposit using a credit card, you can still withdraw via Bitcoin, which could be a great way for people new to cryptocurrency to dip their tow in the water with Bitcoin, so to speak. And again, the withdrawal side of casino banking must be done using a method different than a credit card.
#3 Check and Bank Wire
If you deposited using a credit card, the bank check and the bank wire would be pretty much your only non-Bitcoin options of withdrawing your winnings. Very few casinos would accept those methods for deposit, one must be a high roller with a long history with the casino, in order to use wire or check to fund your account.
While very acceptable banking options, both bank wire and courier check are in essence slow transaction methods, check obviously more so than wire, taking sometimes a week to receive. Not only are they slow by nature, they are also expensive. Keep in mind that the casino will charge you a fee for withdrawing winnings using these banking methods, on average $30 to $60 per request, while Bitcoin is fee-free in either direction.
#4 Third-party processors
These options are still quite popular in the E.U., but not available to players in the United States, and a few other countries. Examples are Neteller, Skrill and Eco. The act like a virtual wallet, players can load money into those wallets and then use them anywhere they are accepted. The most online casinos don’t charge any fees to use them, and the transactions are near instantaneous, regardless if you are depositing or withdrawing. A very nice and easy way to bank at the online casino, sadly not widely available, due to country-specific acceptance.
This about sums up the available methods of banking at the online casinos. Each option has its positives and drawbacks, but, overall, Bitcoin is certainly the best choice among them. You can browse our guides to learn more about each casino banking feature or head on to our home page to see the our list of the current top ten online casinos.