understanding-online-casino-payment-methods

When you’re playing in online casinos, on occasion you’re going to strike it lucky and you’re going to have a balance you want to withdraw. Or perhaps it may go the other way, your luck is out and you need to inject some more capital to keep on playing and change your fortunes. Either way, you’ll want to know what payment method offers the quickest and easiest way to do this.

There is nothing worse than being on a hot streak and then having it cut short because you have to wait on more funds to arrive from your account. Though with the ideal payment method, you won’t have to wait too long for deposits or withdrawals. Allowing for a stress-free service with no hurdles to clear just to play or receive your winnings.

To help you decide which payment method is best, we have taken the most commonly used methods and researched their pros and cons so you don’t have to. All you have to do is look at the stats and features, then decide what one is best for you. Here is our list of the best payment methods for online casinos.

Visa/Mastercard

Easily the most commonly used payment method on online casinos. The player simply enters their card details and can deposit money into their account freely from their bank account. In terms of a quick deposit, the funds tend to arrive in the retailer’s account and therefore your casino wallet almost instantly. However, it’s the delays in the withdrawal process that can be a pain.

This method has the most variation and will depend on the policies of both your bank and that of the casino. However, the general timescale is anywhere between one day and five. Meaning that in some cases you will have to wait a full working week just to get your hands on your winnings. It’s not ideal for making plans or having instant access.

Though what it does have going for it is the sheer accessibility of the method. I mean who doesn’t have a bank account these days? It is also a very secure method and one that is accepted in almost all online casinos. So aside from the withdrawal time, this is a very viable method.

PayPal

Then we have PayPal, everyone’s favorite online middle man between your bank balance and online retailers. This is a service that allows you to easily deposit and withdraw funds to your casino wallet. Deposits are again, instant. Though the withdrawal speed, when compared to the conventional card detail method, is 1-3 days, making it a much more consistent and reliable timescale to work with.

In terms of finding a casino that supports PayPal payments, it can be a little harder to do. Though, due to the popularity of Paypal, there is still a multitude of options with the likes of 32red being the most notable casinos that support this. In addition to fast services, PayPal also has a renowned customer service reputation into the bargain. So if you don’t mind searching a little for a casino that supports PayPal, you’ll get faster and more consistent service for your trouble.

Erik King the Chief Editor over at Zamsino.com is confident that PayPal will become one of the biggest payment methods for online casinos in New Zeland in the next few years.

Bank Transfer

Despite the technological advances we have seen in the last decade, with online wallets and the like being commonplace. It is still a very common thing to see those who use online casinos prefer bank transfers as their method of payment. Where this method has strength is for those who prefer to keep their details off the internet for safety and anonymity. Plus in terms of the actual transfer process, this is done through the bank directly, making it easily the safest and most secure method on this list.

However, where you see the negatives of this method is in the processing times for deposits and withdrawals. With both of these processes taking anywhere from a day to four full days. Meaning that if you want instant access to funds to get betting as soon as possible, this may not be the method for you. This method clearly favors security over speed and convenience. So if your priorities are very much the same, this is probably the way to do things.

Paysafe

Paysafe is a service made especially for those who love online gambling. This takes the form of a prepaid card similar to that of a debit or credit card. You add funds to the card, enter the 16 digit pin associated with the card and the casino will realize this and allow you to use the balance. It’s a straightforward system that is accepted by just about every casino out there.

In terms of adding and taking funds out of the account via payouts. Each of these is nearly instant. Making this the most efficient way to get funds into and extract from your betting account. The only issue with this is the small inconvenience of needing to do this through your local shop or retailer. Meaning that you’ll have to travel a little bit just to add and take funds. Though if this isn’t an issue to you then you can reap the rewards that instant adding and taking of funds provides.

Skrill

Then finally we have Skrill, a company that has massive similarities to another popular e-wallet, Paypal. Though without the same popularity and acclaim. This service allows you to use a middle man between you and the casino meaning that they never have to handle your funds directly. Which can be a preference for many players.

The key feature that may draw you to this method is the instant deposit and withdrawal options. There is no delay in either function. Making it a more slick processor of withdrawals than Paypal. This is a service that you may have to search around to find a provider that supports it. Though most of the popular online casinos have this function. Plus the Skrill service boasts a high level of security. So if you don’t mind hunting for a casino that supports Skrill, it may be the best way forward for you.

So that’s our view on the most popular payment methods when using online casinos. What method of payment do you prefer and why? Which of these methods have you used before? Are there any methods that you really disliked using? Let us know in the comments and thank you for reading?

Resources:

https://kiwislots.nz/online-casino-laws-in-new-zealand/

https://www.dia.govt.nz/Web/diawebsite_historical.nsf/wpg_URL/Services-Casino-and-Non-Casino-Gaming-New-Zealand-Gambling-Laws