A Comprehensive Guide to Online Casino Payment Options Around the Globe

We are in the era of online gaming. The times of regular visits to land-based casinos to engage in your beloved slots or table games are long gone. The same applies to going to actual high-street bookmaker chains to put in wagers on sports. Everyone and his mom are now enjoying casino classics anytime, anywhere, anyplace via internet gambling sites. Online casinos are thriving – especially in these tough times. Wherever you are, there are online bookmakers and casinos eager to cater to you. What fuels it all is the wide range of online casino payment solutions for potential customers to use. Here you can check out a list of 20 Rand minimum deposit casinos.

It is the flexibility in deposit and withdrawal methods that online casinos offer that allows players from all over the globe to find a provider that is personally appropriate for them and play there.

That being said, your mileage will differ based on what country you live in when it comes to the availability, usability, and security of these instruments.

Different Payment Types

One of the most important things that most players take into account is the ability to deposit in a quick, easy, and safe manner. 

Most casinos and online sportsbooks offer various deposit and withdrawal methods.

Certain allow you to deposit using a specific payment method alone, while others may allow you to withdraw your winnings to your chosen deposit method. And in most cases, you might be able to withdraw to the same method used for deposit only. 

With all the varieties that online casinos have on offer, deposit and withdrawal options can be a bit complicated to comprehend.

That said, in order to help you determine which payment method suits your individual needs best, we've put together a comprehensive guide to the best payment methods for online gambling.

1. Credit and Debit Cards

This is the most popular payment method used around the world, particularly in Europe and the U.S. It is the leading payment method in France (52%), the UK (49%), Belgium (47%), and Spain (36%).

Also, online casinos and sportsbooks usually accept Visa, MasterCard, and/or Maestro.

The primary advantage of using credit and/or debit cards is its accessibility. That's because nearly anyone can obtain a credit/debit card and use it anywhere on the planet. 

Their primary disadvantage, however, is that some banks are not increasingly allowing online gambling payments.

This is at the discretion of the issuing bank because each bank has its own internal policy governing online gambling transactions. 

And more recently, credit card issuers have been the focus of stringent regulations because they have been used as an online casino payment method. 

We will discuss these new developments later in this article.

2. E-Wallets

E-wallets are becoming increasingly popular. They are also going to take over the market share of online casino payment systems with their ease of use and withdrawal (within 24 hours).

However, among its significant drawbacks is that most e-wallets have transaction fees. It must be noted that these fees are typically insignificant and are offset by loyalty programs provided by e-wallet operators.

Today, PayPal is the most utilized e-wallet in the world, with over 200 million active accounts in Europe and North America. 

The most utilized e-wallets besides PayPal include:

Paysafecard

One of the most reputed e-wallet providers for security. This prepaid card can be utilized by players using vouchers that have a special 16-number PIN code. Paysafecard is now owned by Skrill (formerly Moneybookers).

Skrill

Skrill is another popular e-wallet option that is governed and regulated by UK law and operates in the same way as PayPal. You can fund your online account and use it to pay for online casino deposits and withdrawals. It's available in almost all countries.

Neteller

Like Skrill, Neteller is an e-wallet that used to be the top online gambling payment provider but lost its appeal with the introduction of more payment providers.

Nevertheless, it remains a popular choice that's accepted almost everywhere. You can deposit just as you would with PayPal and withdraw instantly by either using their Net+ card or sending the balance back to your bank account.

EcoPayz

This is another secure e-wallet that's increasingly popular today. Its ecoAccount feature allows players to conduct all their online casino transactions in one place. 

3. Prepaid Cards and Vouchers

Paysafecard

It's the most widely used prepaid card in the online gaming business, especially for the UK and Europe.

It's accepted by nearly all online casinos as a payment option because of its high security (unlike using your credit/debit card directly) and low fees.

Paysafecard is not an option in the United States. That being said, you can purchase one in another locale and add money to it electronically. This would be a way for US citizens to gamble in a casino which offers this deposit option.

EcoPayz

EcoPayz also offers a prepaid card in its ecoCard. The ecoCard works exactly like a Paysafecard in the way that it handles online deposits and withdrawals at countless outlets all over the world.

It also is available for free and without a credit check. Customers have the option of using a one-time prepaid card or opt to use the ecoCard.

4. Bank Wire Transfers

Most iGaming bookmakers and operators embrace wire transfers as one of their significant payment methods. They are seen as a secure payment method by online casinos due to their rigorous requirements. 

For instance, wire transfers have stricter KYC (Know Your Customer) procedures to reduce possible money laundering or otherwise KYC-related risks for all parties in online casino transactions.

However, KYC procedures take time; hence, this payment option takes around seven days. Another disadvantage is that bank charges on wire transfers can vary depending on the deposited or withdrawn amount. 

For this reason, the payment option is more prevalent in countries where more convenient and quicker online payment methods are not prevalent. 

5. Instant Bank Transfers

This type of wire transfer weighs out the typical disadvantages of regular bank wire transfers, particularly in terms of transaction times.

Trustly

Another extremely popular type of instant bank transfer service for online sportsbooks and iGaming operators, particularly in Europe, is Trustly.

Trustly works as the “middleman” and transfers funds straight from your bank to your online casino or sportsbook of your choice, without having to send any of your essential payment details (e.g., credit/debit card details) to the iGaming operator.

Essentially, what this means is that your transactions will be safe from any kind of misuse or fraud.

But it has to be pointed out that instant bank transfer providers are available nearly solely for deposits, so you will need to select a different withdrawal method. Nevertheless, this is compensated by limited time promotions that these providers usually offer to its clients. 

iDEAL

One more widespread instant bank transfer provider is iDEAL, which is used more frequently in the Nordic countries.

It is most widely used in the Netherlands, with over 54% of all online payments in the Netherlands being processed through iDEAL. 

iDEAL does not charge any transfer fees and offers maximum transaction flexibility.

Giropay

Giropay is another online casino payment method that is very similar to iDEAL in terms of structure and function. 

The main advantage of this online payment method, like iDEAL, is the ease of use. This payment method is most commonly used in Germany, with over 80% of German banks being affiliated with Giropay.

It is one of the leading payment processors in Germany, and a Giropay card is owned by about 75% of Germans.

6. Cryptocurrencies

More and more online sportsbook and casino sites are starting to accept cryptocurrencies as a form of payment. This is largely because of the guarantee of security that Bitcoin and its other related cryptocurrencies provide.

One of the benefits of Bitcoin as a payment method is that it allows American players an opportunity to play online because Bitcoin gambling doesn't qualify as "online gambling" in the US, which is illegal in most US states as of writing.