Discover All the Different Methods to Deposit and Withdraw at Online Casinos
The first step before you can start gambling is, of course, to deposit money into your casino account. A few online casinos do not require their players to have accounts, but you still need a payment method to fund your gambling.
If this is your first time playing at an online casino, then perhaps you are in for a surprise! Card payments are no longer the only way to deposit and withdraw money when gambling on the internet, and you now have the option of using secure e-wallets, wire transfers and even cryptocurrency payments!
You might also be in a situation where you have been playing for some time using the same payment method—unaware that there might be a method out there that is better suited for you and your gambling habits.
Different Types of Payment Methods
Long gone are the days when you only had one option for deposits and withdrawals online, and thanks to the increased interest in online shopping and payments—you can now choose between 5-20 different payment methods at every casino.
Personal preference plays a big part when choosing your payment method, as they all come with pros and cons. Some allow you to make instant deposits and withdrawals, while others can take hours and even days to reflect.
Fees also differ depending on the payment method you choose to use, but this can also be affected by your chosen casino platform. To make the choice a little easier—we have put together a quick guide to the most common payment options for casino gamblers.
While bank card payments have dropped in popularity in recent years, it remains one of the most reliable payment methods, and one that tends to be available at almost every online casino. The other plus that comes with bank cards is that most people have them already, which means you won’t need to go through the hassle of opening new accounts.
While credit card payments with VISA, Mastercard and other bank cards are still available at some casinos, it has become harder to find them. The reason is a recent legal change, where U.K registered casinos are no longer allowed to offer credit card payments as an option for their players.
We can speculate that the change is most likely due to the increase in people seeking help for gambling addiction, to help prevent players from gambling with more money than they have available in their bank account.
These changes affect everyone—including Canadian players—who play at a U.K registered casino, regardless of where in the world you are located, and it is something you need to double-check before you join a new online casino.
- Debit Cards
Debit cards are a bullet proof payment option as they are almost always offered as a payment method. Note that the new rules for UK registered casinos only affect credit cards, while debit card use is still allowed.
The only downside to using a debit card to fund your gambling is that the transactions will show up on your bank statement, and that you need to have your card number available every time you make a payment. Unless you have your card or your card number written down somewhere—you won’t be able to use this payment method.
When you use a debit card for deposits and withdrawals, you should keep in mind that there tends to be fees. Your bank might charge you for each transaction, and some casinos also charge a separate fee from their debit card users.
- Prepaid Cards
Prepaid cards are cards that aren’t connected to a bank account, where you either purchase a card with a certain amount or top up the card you already have. Most prepaid cards will have a VISA, Mastercard or American Express logo on it, and work just like a regular debit card. You can pay with these both online and in physical stores.
Another example of prepaid cards is the Paysafecard, which has grown into a popular payment method for online gamblers in North America and worldwide.
E-wallets, or electronic wallets, are digital applications that can send, receive and store money. Most e-wallets let you deposit money into your digital wallet, and you can then use that money to make payments at online casinos and digital shops.
The most common way for this to work is that you link a bank account or bank card to your e-wallet, so that you can pay with your e-wallet even if there is no money in it, and instead the money is taken directly from your bank account or card.
A huge benefit is that you don’t need to give up your card number, as you don’t need anything else than your login information for your e-wallet. It is also a very quick transaction method with instant deposits and withdrawals within a couple of hours.
Skrill is an e-wallet you find available as a payment option at most online casinos, and it is currently operating in over 120 different countries across the globe. The company is owned by the Paysafe Group since 2015, just like Neteller, and run by Paysafe Payment Solutions Limited.
Neteller, just like Skrill, is currently owned by Paysafe Group and it is an e-wallet that lets you make quick and easy transfers to and from online casinos. This is also a popular casino payment option and one you can find almost everywhere.
While PayPal is a very well-known e-wallet that you can use for numerous internet purchases, it is not the most commonly offered payment method at casinos. The reason is that PayPal tends to be selective with the casinos they choose to collaborate with.
The company was founded in 2000 and previously went by the name of ecoCard, and it allows you to make casino deposits and withdrawals without giving up your card details every time. It is considered safe and reliable for casino transactions.
Apple Pay is a digital wallet application available for apple users. You can use it on your iPhone, iPad or Mac, and it works just like a regular e-wallet. The main difference is that you cannot withdraw money with Apple Pay, and you will have to use another method for your casino withdrawals.
For Android users, Google Pay is a convenient app that lets you deposit money into your casino account. A limited version of the app is available for iOS users, but only in the United States and India. Just like with Apple Pay, this e-wallet can only be used for deposits and not when making withdrawals.
Available in over 170 different countries, Canadian players will be spoilt for choice when it comes to finding the best casinos that accept Mifinity. Deposits are instant, withdrawals are speedy and best of all it’s known to be one of the safest ways to gamble online in Canada.
Most banks these days offer an internet service to their clients, where you can manage your account and transfer money to other clients and services. Online casinos have been accepting bank and wire transfers for years, and it is a convenient transaction made through your internet bank.
Bank transfers are extremely safe, and due to most players having a bank account—it is also a highly convenient payment method. The downside is the time it might take for deposits and withdrawals to go through. This will vary from bank to bank, but some bank transfers can take hours or even days.
With payment methods that can only be used for deposits, such as Apple Pay and Google Pay, it is common to use bank transfers for withdrawals. Many casinos require players to use the same payment method for both deposits and withdrawals, but when this isn’t possible—traditional bank transfers are usually the easiest way to withdraw.
Honourable mentiones also go out to:
In Canada, some casinos are now offering mobile payments, where you can deposit money into your casino account directly from your phone. These payments are usually charged on your phone bill and carrier billing. There is a service called Boku that simplifies mobile payments and the method is becoming increasingly popular.
Another easy way to top up your casino account is through vouchers. A perfect example is CashLib, where players do not need to use credit or debit cards, keeping their information safe. The added privacy is what really makes vouchers stand out to gamblers as all you need is a PIN number printed on the voucher itself.
It is no secret that cryptocurrency is considered the currency of the future, and more and more online casinos are catching on. There are still only a handful of trustable casinos that offer cryptocurrency as a payment method, but those that do allow you to make deposits and withdrawals through your crypto wallet.
Fees are generally low or non-existent when using cryptocurrency to fund your casino gambling, and for someone who is already familiar with how crypto tokens work—it can certainly be a convenient payment method.
Pro tip: If you struggle to find a casino accepting cryptocurrency, you can use Skrill as a practical middle man, as this e-wallet accepts crypto payments. In this scenario you would have to use crypto to make a deposit to your Skrill account, and then pay your casino just like a normal Skrill transaction.
Examples of crypto tokens accepted at many crypto-friendly casinos:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Stellar (XLM)
- Binance (BNB)
Frequently Asked Questions About Payment Methods
What to think about when choosing a payment alternative?
Start by making sure your chosen payment method is safe and secure, and that it is one that is commonly recognized at popular online casinos. Once this is out of the way—search for one that works for you and your gambling habits.
Which casino payment method is the safest?
Online casinos are very safe with all their virtual protection, such as SSL encryption, and all payment methods offered by reputable casinos are considered safe. Bank transfers were once considered the safest, but e-wallets and other payment methods have caught up and are now considered more or less equally safe.
Do you have to have a bank account to gamble online?
No. You can use a prepaid card to deposit money into your casino account if you do not have a bank account, or if you prefer not to link your bank account to a casino.
Are some casino payment methods faster than others?
Yes, e-wallets like Skrill, Neteller and PayPal tend to be some of the fastest payment methods for both withdrawals and deposits.
Are e-wallets better than VISA or Mastercard payments?
It depends on your preferences. Both are great ways of depositing and withdrawing money when gambling, and while some prefer e-wallets where you don’t have to give out your card number, others prefer the familiar method of bank card payments.
Who can I turn to if I’m having trouble with casino deposits?
When a problem occurs, the best thing you can do is most likely to confirm with the casino customer service that the money has been sent, and then follow up with customer service for your chosen payment method.
Are all payment methods available worldwide?
Depending on where you are located, different rules and laws may apply that affect the availability of certain payment methods. For Canadians, this could be worth taking into consideration if you plan to gamble while traveling abroad.
Can you use different payment methods for deposits and withdrawals?
It is usually required by casinos to use the same payment and withdrawal method, as this helps combat money laundering and other illegal activities. However, some payment methods are only available for deposits, and in these cases you will be able to use a different method for withdrawals.
What to Look for When Choosing Casino Payment Methods
Let’s be realistic—there is no payment method that works for everyone, and you will need to investigate based on your own needs, preferences and abilities. It can be confusing with so many options available, and we have put together a list of what to look for to make the choice a little easier.
Making sure you choose a secure payment method is the most important thing, as this is what will keep your money safe when gambling online. Opt for payment methods that are well-known and readily available at reputable online casinos, and don’t share your card number or e-wallet login information with anyone.
The payment methods mentioned in this article are all approved for gambling-related purposes, but if you want to pay by bank transfer or card, you do need to double-check with your bank to make sure transactions for gambling are allowed.
Another thing to consider is that most payment methods have fees. Read up on the fees associated with your chosen payment method to make sure you aren’t losing too much money on your transactions.
The number of different payment methods offered by online casinos differ. Some casinos may offer almost every single payment method there is, while others might only have a few available. Before you pick the method of your choice—double-check that your online casino offers it as an option.
Depending on the types of games you plan to play, different payment methods could be more or less convenient to you. This usually comes down to the size of deposits you will be making and it will affect your fees, etc, etc.
Safety Concerns when Choosing Payment Method
The good news is that most payment methods are equally safe when gambling at a reliable online casino, as these casino sites tend to be heavily protected with SSL encryption and a variety of safety filters. With this in mind, safety should not be your only perimeter when choosing the right payment method for you.
Card payments tend to be the method people worry about the most, simply because you have to give up your card number with every transaction. Provided you are using a reliable gambling site, this is rarely a problem, and your bank details and personal information is generally safe when you gamble online.
Best Payment Methods for Depositing Money at Online Casinos
When you gamble online, you usually want to get started right away—nobody wants to wait hours or days for a casino deposit to go through. Luckily, most modern payment methods will have your money available on your casino account within seconds, but there are more aspects to take into consideration as well.
The below suggestions are based on how fast the money becomes available in your casino account, fees associated with the transactions and overall convenience.
Bank and prepay card deposits are instant, available at most casinos and very safe, and most people already own some type of debit or credit card.
This e-wallet offers convenient deposits that instantly reflect on your casino account, and it is one of the top e-wallet options offered by casinos.
Just like Skrill, Neteller also tends to be available as a payment method at most casinos, with instant deposits and no bank card numbers needed.
While only a top choice for those who already have crypto tokens—crypto is convenient due to the low deposit fees and anonymous money transactions.
Best Payment Methods for Withdrawing Money from Casinos
In most cases, you use the same payment method for deposits and withdrawals, as many casinos request this as part of their attempts to combat money laundering. There are, however, a few exceptions, where you can only use a method to deposit but not to withdraw money from your casino account (with Google Pay being an example).
The following payment methods are excellent for withdrawing money, and are worth taking into consideration when you make your choice. Keep in mind that withdrawal times may also be affected by how fast/slow an online casino releases your money.
Withdrawing your money with a wire or bank transfer is very secure. It might take a few days for your money to appear on your bank account, but its availability and reliability makes it a top choice.
A bank card withdrawal works almost the same as a bank transfer, and all you need is your card number. Online casinos tend to offer highly secure card payments, with no hidden fees.
Unfortunately, few casinos offer PayPal as a payment method, but when they do—it tends to be one of the fastest withdrawal methods currently available to impatient online casino players.
E-wallets tend to be your best option when withdrawing money from your casino account, as payments are usually processed within 24 hours or less, depending on the casino.
Best Payment Methods for Online Casinos in Canada
|VISA/Mastercard||Deposits are instant. Available at most casinos. Very safe. Most people already own some type of debit or credit card.||May take a few days to reflect on your bank statement. Transaction fees. Must have your bank card number readily available.|
|Skrill||Instant deposits. Quick withdrawals. Hidden payment information. Transparent terms and conditions.||You need a separate Skrill account. Fees on transactions from your bank. Bonus offers may be unavailable.|
|Trustly||Low to no fees. Instant casino deposits and withdrawals. Available at no account casinos.||Limited availability outside Canada and Europe. A bank account and bank ID needed. Not anonymous.|
|Bank Transfer||Extremely secure. Easy to keep track of your transactions. Low fees with no middle man.||Extended deposit and withdrawal times. Shows up on your bank statement.|
|Neteller||Easy and quick to sign up. Available at most online casinos. User-friendly.||Bonuses may not be available at casinos. Verification required when signing up.|
|Google Pay||No fees on deposits. Quick and easy to use. Available at most online casinos.||Not possible to withdraw with Google Pay. Limited availability for iOS users.|
|Apple Pay||Great option for iOS users. Contact-less payment form.||Not available for Android users. Deposits only and no withdrawals.|
The Future of Casino Payment Methods
Online casinos are gaining more and more popularity every year, and a big sales point is offering solutions that work for everyone. It may seem overwhelming at first when looking at all the different payment options offered by your favorite casino, but the truth is that this makes online gambling available to more people.
Not everyone has a bank account, and then you can use a prepaid card to fund your gambling instead. Others are hesitant to type in their card number at casinos they haven’t played at before, and here an e-wallet can be a game-changer with its slightly more anonymous setup.
The fact that many casinos are now accepting cryptocurrency also shows the versatility of the industry, and how it adapts to the needs and requests of a changing clientele.
Based on what we have seen so far—the future likely holds additional payment options for casino gamblers, to make the scene even more inclusive and welcoming.