Some of us can remember a time when we didn’t have many options for moving money around online. PayPal, bank transfers and instant bank payments were the main ways in which things were done online. Times have evolved significantly since then, and there are now many different payment methods, even different currencies altogether, so anyone can make payments conveniently.
Players of iGaming sites may have some decisions to make regarding their deposit options. In the modern age, people are valuing things like speed and efficiency as well as anonymity and other aspects we’ve come to expect when moving money around. Plus, it is often more convenient to use some of the modern ways to pay that can be verified securely via phone.
In this guide, we’re exploring some of the most widely accepted casino payment options to use to deposit money in both modest amounts and large amounts to iGaming as well as online casinos sites.
Debit cards
Bank cards are still one of the most popular payment methods, and they are relatively secure, though the card does potentially pose some issues. People may link their account numbers to their browser or computer and be able to verify using Face ID or other methods, such as a fingerprint.
Debit cards still rely heavily on the banks who need to approve transactions and payments, so there can sometimes be a delay while this goes through.
Some people don’t like using this method in case of any security issues, which can occur if someone accesses the card numbers, for instance. An extra level of security can help, which is why some even add their cards to other accounts like Apple Pay, which is one of the methods we will explore below.
Many of us are accustomed to using debit cards, but they may not be as convenient as some of the other methods.
Crypto wallets
Crypto can be a little limiting in terms of choice of casinos, as not all casino brands accept cryptocurrencies. However, it is definitely worth including on the list, and it can be a way to transfer money with a high level of anonymity and speed.
Cryptocurrencies don’t rely on a middleman like a bank, so the transactions work on a P2P network. If you know a little about blockchain, you’ll understand what this means and exactly how those transactions can take place, with each part of the network serving as a block and helping to authenticate activity.
Cryptocurrencies go up and down in value more quickly than many traditional currencies, so there are downsides, but crypto wallets tend to be pretty secure if you are organized enough to keep your details and ensure you don’t lose your login information. New cryptocurrencies are being minted all the time and a lot of people are looking to find the best option for them.
Some people don’t have crypto and those that do may want to store it and hold it for investment purposes rather than transferring it to gambling sites. It is another option though with some benefits for players.
Bank transfers
Many of the sites on the market still allow people to use bank transfers to put money into their iGaming accounts. This usually involves having to enter the account details, along with a reference, and wait for the money to be sent from your bank. It can be done via online banking as well as from mobile banking apps.
The downsides outweigh the positives of this method for most people, as the transfers can sometimes take a while. There is often administration on the part of your bank as well as for the iGaming site in question, so the transfer is often not instant. Instantaneous transactions are something many of us have really come to expect in the modern age, and people may also not be organized enough to transfer the money in advance of when they want to play.
PayPal
This is a method that may feel old hat today! It isn’t as fast as some of the other options on the market, but people do enjoy using this e-wallet technology for the extra layer of security it provides compared to bank transfers.
Some of us have had PayPal accounts for a long time now and may find that it is a convenient way to move money around. It is available for deposits into accounts and sometimes withdrawals, but this depends on the brand in question. The withdrawals, in particular, may take a while.
Apple Pay
Apple Pay is an option for those who use Apple devices, that allows people to authorize payments with extra levels of security and encryption, rather than sharing your personal information with retailers and other sites.
Google Pay is an alternative for those who are using an Android OS, and it does a similar thing.
Not all sites that allow deposits with Apple Pay also allow withdrawals, so players may need to find another method of withdrawing their money if they wish to do so at some stage.
Skrill
Skrill is another digital platform that has become known for being a convenient money app, and there are estimates that around 15% of Skrill e-wallets are used by people making deposits with gambling and iGaming sites.
There may be fees for withdrawals, and they can take up to five business days to be processed, but this tends to be the minority of cases, with most happening in a matter of minutes or hours.
Skrill’s security has helped it to become a method that a lot of different iGaming sites use for deposits, and many players now have this method of paying, often from a simple app on their phones.
Neteller
This brand fits into a similar category to Skrill and PayPal, offering a digital wallet for transactions and low fees for small transactions.
Neteller has grown a lot in recent years and many iGaming brands now accept it as a form of payment, including deposits into their accounts. Neteller has a good reputation for security and people can hold and move funds around using their Neteller wallets.
To create an account, people need to sign up and enter some bank details before they can start moving their money around.
Conclusion
If you want to make a deposit into an iGaming account, then you will need to check the site and its list of available deposit and withdrawal options. Not every site will support all the methods that are on this list, but there are plenty out there allowing people to use digital wallets as well as the tried-and-tested methods such as debit card payments that have been possible for decades.
People who use crypto have yet another option and will need to use digital wallets in order to store and move the money around.
In the modern age, gamers have plenty of options when it comes to their transactions and the method they want to use to put money into a gaming or casino site in order to play casino games like table games and slots. Safety is the number one consideration, as always.