Payment Methods at Online Casinos and Betting Sites

The Most Popular Online Payment Methods

We have put together a list with most payment options you may find in your online casino. Whether it is mobile, bank or e-wallet we will try to explain the process when funding your gambling account. Here is the list with the most popular payment methods:

• MasterCard: It is one of the largest actors on the market and offers payments through credit card, debit cards, prepaid cards as well as through their new e-wallet service called Masterpass. It was recently introduced to compete with the upcoming internet wallets out there. Mastercard have several built in security measures, such as the secure code, optional verification via mobile and a 24/7 hotline for you to call in to if anything has gone wrong with your card. You can get a Mastercard with most big banks, some are: Bank of Scotland, Barclays, Halifax, Lloyds and more.

• Visa:  Another popular card provider, very similar to Mastercard, is Visa. Visa is bigger on debit cards, and the Visa Electron is a debit card which doesn’t allow you to overdraw your account. Visa has similar security measures as Mastercard and can be used widely for depositing into your casino account. Visa is the standard card for many banks such as: HSBC, First Direkt, M & S bank and more.

• Skrill: Skrill is an e-wallet providing their services completely online. You can deposit into your e-wallet using a normal bank card or bank transfer, then you may use your Skrill account in order to deposit and withdraw funds online with most betting sites. It is quick and easy, with good security and fast transactions. You may as well buy their prepaid Mastercard to use your gambling funds in everyday life.

• NETELLER: Just like Skrill NETELLER is a wallet for your online purchases. It is just like Skrill supported widely amongst the online casinos. They provide you with fast and easy transactions. It is owned by the same group as Skrill. They offer VIP programs with different levels depending on your annual usage of the wallet. Owned by the same group as Skrill and they also offer a prepaid Net+ Mastercard. Created in 1999 in Canada they quickly took over 80% of the market before online gambling was prohibited in North America.

• PayPal: Perhaps the worlds largest, or one of the largest, online payment provider, PayPal, were first established along with eBay but broke free in 2015 and today have over 20 million customer in the UK alone. An e-wallet service that provides you with methods to pay in several ways all in one place. You can manage credit cards, debit cards and bank accounts in the same virtual space. It is accepted by a large amount of casinos as well as other online businesses and also offers an app for you to easier manage your money.

• Trustly: The Swedish based online banking service has grown to be a common e-payment service throughout the casino industry. You can send money straight from your bank account to pay bills or deposit money to your betting account. You provide your bank details and they make the transfer for you, fast and secure.

• Bitcoin: Bitcoin is the largest cryptocurrency and the gambling industry has adapted accordingly. More casinos now offer transactions in Bitcoins. It is a decentralized currency which no one owns, this gives users the ability to make transactions without identifying themselves. Some casinos are mainly made for Bitcoins and other cryptocurrencies. It is getting more popular due to it’s privacy.

• Cryptocurrency: More casinos offer their services through digital currencies such as Bitcoin, Litecoin and Etherum. They have grown more popular in recent years due to the privacy the currencies are offering. Transactions are normally fast and secure, even though there have been some security breaches in big crypto providers in the past.

• Revolut: An online bank that is gaining popularity fast. It’s inexpensive form, online and fast with very low fees have attracted many to the online banking community. Offering international transfers as well as several currencies along with the low fees has made Revolut a payment provider to count on in the future.

• Boku: A mobile payment platform that was first created for paying online subscriptions such as Spotify, Google Play and similar services. It moved into the online casino business and is aiming for the younger mobile generation who likes to use the phone for payments.

• Zimpler: Very similar to Boku and established in Finland and Sweden and are now looking to expand into the UK market. A quick and really convenient method to handle your online funds. Hopefully they can make their way into the UK gambling market in no time.

• Pay-by-phone: Some casinos offer the pay-by-phone option, this is where you call in to make a deposit. The amount will then be added to your mobile invoice by the end of the month. Fast and safe but you would need to make a bank transfer to withdraw your funds after. 
  

Payment Processing Times

While using different payment providers we need to be aware of the different process times. Some deposits and withdrawals are instant, while other may take a couple of days. 

We are going to help you figure out which ones are faster, and which ones a little bit slower.

As the online industries are developing so are the payment methods. Nowadays more and more casinos offer instant deposits as well as withdrawals. This is great for the customers as we no longer need to wait to get our winnings back.

To help you understand we’ve made you a list with all instant deposit methods:

As you can see most deposits are instant which means they will be added to your betting account within minutes from submitting relevant details. The only method that takes a little bit longer is the traditional bank transfer, these deposits are usually added to your casino funds within 1-3 banking days.

Sometimes deposits get stuck due to technical errors, if your instant deposit has not shown up in your account you should check if this is the case. You may then contact customer support for help with resolving the issue.

What About Withdrawals?

Even more important than deposits are withdrawals, so how fast can we get our money back while using these different payment methods?

Check the list below to find out with whom you can withdraw your winnings in an instant:

As you can see the process time for withdrawals differs from the deposit process time for some providers. For the rest, withdrawals are processed as follows:

• Trustly: For verified users withdrawals are normally instant. If unverified or with a bank that does not support instant Trustly withdrawals it will take up to 2 banking days for the winnings to arrive on your bank account.

• Visa: Even though most casinos accept deposits from Visa much fewer actually pay out to Visa cards. Quite often a bank transfer is made instead. For the casinos where you may withdraw to your Visa card the process time is usually 2-5 banking days.

• Mastercard: Almost all betting sites offer withdrawals through Mastercard. This is quite straightforward and take 1-5 banking days with 3 days being the normal time frame for the money to arrive.

• Bank transfer: You may also request a normal bank transfer from the gambling site straight into your bank account. This is the most traditional way and takes up to 5 banking days, pretty much like with Mastercard.

• Revolut: Revolut is a bank and withdrawals to your Revolut account may either be requested to your connected Mastercard which will take up to 5 banking days or straight to your account as they also operate as an E-wallet, in this case your withdrawal is instant. Please be aware that Revolut has had some issues recently when it comes to gambling transactions, they have been in a dispute with their payment partner and held gambling funds for weeks previously. We would advise to use a different payment method to make sure your funds don’t get held up.

Unfortunately Boku does not offer withdrawals at the moment so if you use them for depositing you would have to transfer winnings via a bank transfer to your account.

How do I Choose my Casino Payment Method?

To choose with payment provider that works best in your casino you first need to think about what matters most to you. Is it privacy, safety, convenience or speed?

All payment methods are normally very safe and have several measures for protecting your funds, otherwise they would not be popular within the gambling community as money is transferred here on a daily basis.

Check out the lists above and see what suits your needs better, then you log on to your gambling site where you access the payment page to see if your betting site offers what you are after. You can also ask the customer service agents what providers they offer for paying into and out from your account.

Normally you click “Make deposit” to access a list with all available options. Choose from this list to deposit and then in the future it will be remembered by the computer to make it easier for you. If you are uncertain if you may withdraw the same way you can check the list above or ask support if your casino offers withdrawals with the chosen method.

Remember that you need to create an account first if you wish to use an online wallet such as Skrill or NETELLER.