One of the biggest parts of an online casino comes within the payments – both for handling your deposits in order to play, but also for handling the withdrawal process when you’re looking to pull your winnings out too. Over the years, payment methods have evolved quite a lot with a lot more variation in both deposit and withdrawal methods, and whilst all are safe now for the most part they certainly come with different pros and cons depending on what you’re looking for the most – but which are the best to suit what you need?
Ewallets have certainly become the most popular – With the rising number of ewallets on offer from the likes of PayPal, Amazon Pay, Apple Pay, and more, it’s no surprise that this is often the most used form of payment for these online services. They don’t require you to enter any payment information and instead just use log-in credentials for the other services making them much safer as your details are never passed along. There is often a surcharge for using these services though, with the industry standard being at around 2.9% or higher for international payments, with can be quite costly and adding up over time.
Crypto is finding growing usage – Many of the bigger services now also have various crypto currency options as a payment option too just like these bitcoin casinos not on Gamstop, typically the biggest benefit of these is that withdrawals and deposits can be instant as there’s no requirement for transfer of funds between different institutions meaning pay-outs can be instantaneous, but with the volatility of pricing for the currency even if only handled in small fractions of a currency, swings up and down can have a huge impact and the $100 you were able to win may be worth much less, or much more, just a few hours later.
Credit and debit still tops the list, but may be disappearing – Unsurprisingly, the traditional debit or credit card method of payment tops the list as the most popular option as it is also the most familiar too, coming with the same surcharge as ewallets there is that to be considered too. Some countries have started to change this, though, with the UK recently being the first to completely ban deposits and withdrawals from credit or debit card in online gambling platforms, and perhaps the first of many to do so, in an effort to protect players most at risk. If others do follow, then this popular payment method may become less accessible over time, and may even be a service that many online casinos are unable to provide at all as the other payment methods in this list become more favoured, and more normalized too.
