Depositing funds into an online casino is at times a tricky process and sometimes it can be a pain due to several factors which we will discuss in this article.
What you need to look out for are banks that allow online gambling, online casinos that accept debit cards and also online casinos that accept PayPal.
Almost every casino has its own list of supported deposit methods, which means that you have to carefully read the fine print before you sign up to an online casino.
The next factor which affects deposit methods available to you is the regulation of the country/jurisdiction where you live or the jurisdiction of your payment processor.
In this article, we’ll analyze top 15 methods to deposit funds into your online casino account.
For the sake of simplicity, we have broken these 15 into 5 main categories of payment methods commonly available to most gamblers.
eWallets
eWallets are at the top of our list due to the ease and extremely low payment processing times.
Almost all casinos accept one or other kind of eWallet, although an eWallet may not allow you to make a casino deposit if you happen to live in a jurisdiction where gambling is prohibited or there are specific laws banning the use of eWallets for making gambling deposits.
PayPal is a good example of this as users from the US can’t make casino deposits via PayPal, although users based in other countries may use PayPal for depositing funds into their online casino account.
European casino players don’t face any hurdles and many use online casinos accept Paypal as a type of depositing method.
eWallets are also among the fastest methods available for depositing funds into an online casino as your funds may be credited to your online casino account almost instantly.
In most cases, you will not have to wait more than a few minutes before funds transferred via an eWallet are credited to your online casino account.
Online Casinos work with several eWallets and you may use the following eWallets for depositing funds into an online casino:
- PayPal
- Neteller
- Skrill
Credit/Debit Cards
Credit and Debit Cards are perhaps the most popular option for making a deposit into an online casino due to the ease of it all.
In most cases, your funds will appear immediately in your online casino account.
Generally, if a casino accepts a credit card then they also accept the debit card of the same network.
But there may be some factors which you must consider before using your credit/debit card for depositing funds into your online casino account.
Generally, if a casino accepts a credit card then they also accept the debit card of the same network. But there may be some factors which you must consider before using your credit/debit card for depositing funds into your online casino account.
Most Credit Cards come with credit limits and debit cards normally have daily spending limits in place.
So, in the case of credit cards, you cannot deposit more than the total credit limit available to you at a time, while debit card transactions will tend to be limited by the daily spending limit in place.
Even the online casinos have their own deposit limits in place. for most deposit methods and not many casinos offer high deposit limit as users are limited to just a few thousand dollars/euros/pounds a day in the case of credit/debit cards.
For most deposit methods and not many casinos offer high deposit limit as users are limited to just a few thousand dollars/euros/pounds a day in the case of credit/debit cards.
There is also another thing which you must remember before depositing funds into an online casino via credit/debit cards.
Although most online casinos are more than happy to accept funds deposited via credit/debit cards, many casinos don’t offer withdrawals via credit/debit cards.
If you make a deposit using a credit or debit card then you may unintentionally limit yourself as this option will not be available at the time of withdrawal.
Cards issued by following networks are accepted at most major online casinos:
- MasterCard
- Visa
- American Express
- Discover Network
Money Transfer Services
Money transfer services such as the Western Union and MoneyGram are quite popular among gamblers for several reasons.
First and foremost, the heavy government regulations which are a hallmark of countries like the US, where it’s almost impossible for a punter to place a deposit into his online casino account using traditional banking methods.
Companies like the Western Union allow players in these countries to bypass these restrictions as, unlike banks, they are classified as financial services firms and are used by a wide group of professional and non-professional gamblers for depositing funds into an online casino account.
Online Casinos are aware of the trouble of their customers when it comes to depositing funds into their casino accounts, and as such most, especially the ones targeting US-based players accept deposits by a money transfer service.
The following money transfer services are accepted by many online casinos:
- Western Union
- MoneyGram
Cryptocurrencies
Cryptocurrencies are a rage these days, and no discussion about methods for depositing funds into an online casino would be complete without discussing some of the most widely used cryptocurrencies of our time.
Cryptocurrencies are a recent invention and their story starts with the launch of Bitcoin in 2009.
Bitcoin was launched as the world’s first cryptocurrency or a digital currency which is not controlled by any government or central bank.
Bitcoin promised anonymity and privacy which is sadly, not possible with credit/debit cards, bank wires as transactions done via traditional banking methods can be easily tracked and traced back to the person who initiated the transaction in question.
Bitcoin became an instant hit and attracted a wide range of audience.
Gamblers decided to use bitcoin due to the anonymity and ease offered by it and now there are hundreds of online casinos which support Bitcoin along with other cryptocurrencies.
The good news is that many cryptocurrency wallets also run their own exchanges allowing most of their buyers to buy the amount of cryptocurrency they need directly from the site where they hold a cryptocurrency wallet.
The following cryptocurrencies are the most popular ones for depositing funds into an online casino account:
- Bitcoin
- Litecoin
- Ethereum
- Ethereum Classic
- Gridcoin
Traditional Banking Methods
In most countries, it’s still possible to use normal banking channels available to most of us for depositing funds into an online casino account.
Bank checks and bank wires can be used for depositing funds into an online casino account.
Users based in most European countries including the UK, and Ireland along with others from countries such as Australia, New Zealand and Canada can easily use traditional banking methods for depositing funds into their online casino accounts.
One drawback with most traditional banking methods is the time and effort required for using them.
As if you plan to use a cheque, then you’ll have to mail the cheque to the online casino and the funds will only be credited to your online casino account only after the cheque is cleared by the clearing house.
This is a time-consuming process and you may have to wait anywhere from 5-30 days or more.
For users based in a country different from the one where the online casino is based, waiting times can be even longer due to the distance and bureaucratic procedures of banks and clearing houses.
Due to these factors, cheques are used only by a minority of users, as in most cases if a casino accepts a check then they will also accept a deposit made via bank wire.
Bank wires are much faster than cheque and the wired funds may be credited to your online casino account in as little time as 3 working days.
The number of waiting days before you see the funds wired into an online casino account is even lower if your online casino is based in the country or jurisdiction from where the wire transfer has been initiated as in such cases you may have to wait just 1 or 2 days.
Conclusion
Each of the payment methods listed above has its own pros and cons and may not all may be available to you.
But we’ve ensured that all the popular methods for depositing funds into an online casino are listed in this article as it’s highly unlikely that you don’t have access to at least a few of these payment methods.
Keep a sharp eye out of online casinos that accept the depositing methods which you ultimately, feel most comfortable with.
If you feel that we have missed an important deposit method, then please feel free to add any other method for depositing funds into an online casino, which you feel also deserves to be included in this list, in the comments section below.
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