11. Your Guide to Online Gambling Payment Methods
You should choose Trustly
The Trustly payment system allows you to make a payment from your bank under additional guarantees on the transaction.
You should choose Bank Transfer
Bank transfers are one of the easiest payment methods to use, allowing deposits and withdrawals with no extra steps.
You should choose Paypal
PayPal is accepted at many sites worldwide and can be very convenient, especially in terms of security.
You should use Visa/Mastercard
Visa and MasterCard have a number of different systems for making payments. If you choose to use a credit card, you might not be able to withdraw with the same system, but security is high.
You should use Bitcoin
Bitcoin is one of the most anonymous methods of making payments, with wallets not requiring any personal details for the account itself. You can usually deposit and withdraw directly to your Bitcoin wallet.
You should use paysafecard
paysafecard functions similarly to a pre-paid credit card but isn't tied to a bank account. It doesn't share any bank or card details when you make deposits, and casinos won't appear on your bank statements.
You should use Skrill
Skrill is an e-wallet that offers excellent security for free, provided you ensure you're on the right plan.
What are the Advantages of Trustly?
Trustly is a leading online payment option for shopping and gaming alike. In an online casino, Trustly provides a way to pay without having to leave the website. It’s also safer for both the site and for the players, as payments are guaranteed on both sides, so fraud risks are reduced to an absolute minimum. Trustly itself is regulated by the Swedish FSA, making it a safe way to make your payments.
What’s more, Trustly doesn’t save your password or bank login details. In order for anyone to access your funds through Trustly, they would have to know your bank, your username, your password, and have access to your security token, which might take the form of a physical token, an SMS service, or another feature provided by your bank.
In terms of speed, Trustly allows for instant transactions through its Direct Debit product, making it one of the fastest ways to make payments on game websites.
What are the Advantages of Bank Transfers?
Apart from physically handing over money in a betting shop, online casino direct bank transfers are the only payment method in which none of the transaction occurs on the casino’s website.
As the bank is in control instead, it’s as safe as it would be in any other bank payment. Given bank attention to security, this makes bank transfers one of the safest methods of paying.
Moreover, not only are bank transfers accepted by the vast majority of bookmakers, and very secure, they also allow the highest limits on maximum deposits on the vast majority of gaming sites – up to hundreds of thousands of pounds, dollars, or euros, and lack the deposit or withdrawal fees associated with other payment methods.
What are the Advantages of PayPal?
There are a number of advantages to using PayPal. The primary one is the security advantage – while using PayPal with slots, casinos, or gaming sites, you never have to give out your credit card information. This is especially useful for those who deposit to multiple sites – you can be assured that your details remain secure. PayPal is an additional layer of security for those concerned about their bets.
A second selling point for PayPal is the ease with which it can be used. Playing and paying in a casino with PayPal is straightforward, with many casinos supporting it as a payment option.
You can see exactly which websites allow PayPal by looking here. More than that, however, you can use our site to find which casinos actually give bonuses when you make a PayPal casino deposit, in the form of a percentage bonus on your deposit.
What are the Advantages of Visa?
Finding an online casino that accepts Visa isn’t hard – it’s one of the most popular payment methods generally, and more specifically, one of the most popular at casinos worldwide. It’s also very convenient as most people are likely to already possess a Visa card, whether that’s debit or credit.
Banking details are always secure when a transaction is processed at an online casino, and reputable casinos make security a priority in order to ensure their customers are safe from fraud or theft.
What are the Advantages of MasterCard?
MasterCard payments follow Payment Card Industry (PCI) compliance standards for data security and use 128-bit encryption. This is the same level of security as major banks worldwide, meaning that MasterCard payments have maximum security.
And while it can be inconvenient, the fact that many casinos will ask for documentation when making a withdrawal from your gaming account into your MasterCard account means that security is effective at every stage of the process.
Availability-wise, online gambling MasterCard acceptance is high, and as well as the security, the card offers high deposit and withdrawal limits. You can also set spending restrictions to make sure you stop when you want to.
Processing times for MasterCard are quite fast, usually within 24 hours, making it a convenient system.
What are the Advantages of Bitcoin?
Bitcoin’s primary advantage is the anonymity. While you have to make payments to buy Bitcoin itself, your wallet is entirely disconnected from paying the gaming site itself, meaning there’s no chance of your payment details being at risk when making a deposit to a site. This is all part of Bitcoin’s lack of regulation – it isn’t connected to any bank, and as such has a level of freedom unafforded by other payment methods.
But perhaps more advantageous is the speed of Bitcoin transfers, as well as the convenience of set up. If the network isn’t overloaded, Bitcoin transfers are among the fastest in the industry.
Not only is Bitcoin becoming more widely accepted among casinos, some casinos are specifically aimed towards BTC (Bitcoin) users and offer larger deposit bonuses to incentivise the use of this growing currency.
What are the Advantages of paysafecard?
paysafecard’s primary advantage is in its name – safety. You’re able to make deposits without sharing your bank or credit card details, increasing both anonymity and the safety of your information, both online and from your bank statements. And for those who don’t have a bank account, it’s possible to purchase vouchers for the card, at which point you don’t have to provide any personal financial information at any stage if you want to avoid it.
The company holds licenses in a number of different countries across Europe, including from the FCA in Britain, meaning that it meets international standards for the safety of its online data.
Cost-wise, paysafecard is fee-free when making gaming site deposits. Unlike with regular credit cards, you’ll always receive the full value of your payments when paying a betting site.
What are the Advantages of Skrill?
Almost all UK gaming operators accept Skrill, making it a very convenient payment method if you’re using multiple sites.
But the stand-out point of Skrill is to do with its costs. Signing up for an account is free, as is topping it up by bank transfer or by Maestro. Withdrawals and deposits are free too - meaning Skrill is also very cheap compared with other e-wallets.
There’s further good news for anyone who wants to make larger payments to an online casino with Skrill: Skrill offers a VIP program for those who make higher payments, including Bronze, Silver, Gold, and Diamond memberships depending on the size of payments made. These VIP accounts support multiple currencies and offer reduced fees on premium payments, with some becoming entirely free in higher plans.
In terms of security, online casino Skrill deposits are regulated by the FCA in the UK, ensuring strong security right out of the gate.
For those wishing to increase their security, you can use a Skrill Security Token, which generates one-time-use codes that must be entered during payments to proceed. Those using the Security Token are covered by a 100% money-back guarantee in the case of unauthorised account access.
What are the Disadvantages of Trustly?
While incredibly safe and secure, Trustly does have disadvantages. The foremost among these is that only a handful of online casinos use the Trustly system – which means that if you want to make use of it, you have to actively seek out the websites which do offer it. Likewise, on the banking end, not all banks are eligible for Trustly functionality – make sure to look on the Trustly website to see if yours is one of them before you rely on it for your payments!
What are the Disadvantages of Bank Transfers?
Bank transfers can be slow during both deposits and withdrawals, which can mean that you’re slower to play and to receive your winnings. While the process of the transaction is brief, there’s a processing period which prevents the money from immediately appearing in your account – which can last between two and ten (working!) days.
On this point, it’s worth noting that some bookmakers offer “fast bank transfers” as an alternative payment method, which can shorten the process.
While the deposit upper limits are high for online casino direct bank transfers, so are the lower limits. Many online casinos don’t accept transfers of anything less than hundreds of pounds, so those looking to place smaller bets might want to use a different payment method.
Privacy may also be an issue for some players. Because of the nature of online casino bank transfers, the site’s name will appear on their bank statements. This might be a concern for some and should be taken into consideration when choosing a payment method.
What are the Disadvantages of PayPal?
While PayPal offers a number of conveniences such as restoring your money to you if there’s a failing on the seller’s part, in many countries such as the US, Canada, and Brazil, this no longer applies to online casinos or online slots.
This means that if you make a deposit and a technical error prevents your money from arriving in your gambling account, you’re reliant on the casino themselves to resolve your issue. This does not affect the UK or Germany, among others.
Bear in mind that, as mentioned, not all casinos support PayPal, or if they do, they might only support it for deposits, not withdrawals. In these cases, you should ensure you know beforehand so your money isn’t trapped in the gaming site account.
What are the Disadvantages of Visa?
While debit cards have few downsides when it comes to payments, as with MasterCard, there are fees to be paid in terms of Visa credit cards, such as interest, and potentially there may be additional fees from the gaming sites. On top of that, not all banks authorise online gaming transactions.
Another issue might be limits on your withdrawals – such as a time period between withdrawals up to as much as 30 days, with any withdrawals before that time has elapsed being issued with an additional fee.
Sites may also refuse withdrawals to credit card accounts, which means that you have the inconvenience of having to use multiple payment methods on certain sites if you make your deposits through Visa.
What are the Disadvantages of MasterCard?
Credit cards such as MasterCard’s credit options have some drawbacks – including interest charges and cash advance fee. There may also be additional casino and sportsbook fees, and not all banks authorise online gaming transactions.
What’s more, there may be limits on your withdrawals – such as a time period between withdrawals up to as much as 30 days, with any withdrawals before that time has elapsed being issued with an additional fee.
More of an issue the aforementioned fact that sites may refuse withdrawals to credit card accounts, which means that you have the inconvenience of having to use multiple payment methods on certain sites if you make your deposits through MasterCard.
What are the Disadvantages of Bitcoin?
As it’s a comparatively new currency, not all gaming sites with an online casino accept Bitcoin. This means that if you’re keen to start gambling using BTC, you should check out our interactive tool to find those which do accept it before putting all of your gaming money into a Bitcoin wallet.
Bitcoin is also very volatile as a currency. While it was relatively stable for many years, in 2017 there was a large spike of interest and value, which has affected the way Bitcoin may be used.
What are the Disadvantages of paysafecard?
paysafecard isn’t completely free. After one year of use, there’s a small monthly service fee – as well as the initial £8 sign-up fee when applying for the card. This can put off those looking to use it long-term as other options involve fewer costs, and is certainly something you should be aware of before looking into the card.
But the primary disadvantage of using paysafecard is that it is not eligible for receiving withdrawals from online casino sites. This means that to receive any winnings, you will have to use a separate payment method, which may affect whether you wish to use the card.
What are the Disadvantages of Skrill?
The most immediate issue with Skrill for many people is that it may be less commonly used by operators outside of the UK, and it is not backed by banks in financial support or administration. This means its availability is limited outside of UK or European sites.
It’s also important to be aware of fees, though with forward thinking they aren’t an issue. As mentioned already, it’s possible to deposit and withdraw fees from Skrill without incurring any costs. But payment methods outside of bank transfers and Maestro will mean you’re charged up to 7.5% at maximum – which may also apply when withdrawing funds from the Skrill account to a bank or credit account.