Best Payment Methods for Online Casino Sites ☘️ Casino Strategy
In Ireland, there are an array of exciting online casino sites to choose from. However, they all have similar payment methods, therefore it is important to recognise which ones are the most suited to you. Below we have compiled a list of the most relevant ways to fund your betting site wallet, including their advantages and disadvantages. This way, you can choose which payment methods works best for you.
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Undoubtedly the most popular payment method for online casino sites is debit card or credit card. This is because all punters have one, making it extremely widespread and therefore suitable.
Popular cards include Visa and Mastercard, which are the traditional cards that all online casino sites accept. Others include American Express and similar.
There are many advantages to using a debit card. Firstly, there is no need to register any new accounts, because most people already have an existing debit card. This saves time compared to the long registration process for other payment methods such as some e-wallets. As well as this, your bank is partially responsible for safe payments. Subsequently, in the event you are apprehensive about making a payment, you have a safety net knowing that the transfer is secure. Lastly, processing times are fast. Deposits are usually instant, and withdrawals can take between 1-5 days.
The only disadvantage of using debit cards as a payment method on online casino sites is the transaction fees. Whilst these vary, they are usually not more than 2%. When compared against the convenience and ease, it is clear that using a debit card is a great option.
E-Wallet
An e-wallet, otherwise known as a digital wallet, is used to make fast electronic transactions such as those on online casino. There are several different types, therefore it is vital to check whether your betting site accepts the e-wallet you have.
Below are the most common e-wallets:
Skrill is an e-wallet founded in 2001 in the United Kingdom. It compatible with the majority of online casino sites. Punters can benefit from its security, low transaction fees, and range of currencies.
Neteller is a Canadian online wallet that has been in operation since 1999. The main advantages of Neteller are its virtual debit card, stellar reputation, and renowned customer support.
Revolut is an online banking platform established in 2015. It is known for its swift registration process, great currency conversion rates, and useful apple pay integration.
PayPal is an American e-wallet founded in 1999, used for worldwide transfers. Its payments originate from bank transfer, and its main advantage is the fast process times.
The main advantage of using an e-wallet is that you can separate your online casino funds from your main bank account. Hence, you can clearly see how much money you are depositing and withdrawing, making balance much easier to attain. Additionally, processing times are swift, and transaction fees are minimal. However, this depends on the e-wallet so it is worth checking.
A drawback to consider is that not all online casino sites will allow you to benefit from the welcome offer using e-wallet deposits. Be sure to research this information before registering.
Cryptocurrency
Cryptocurrency is an innovative digital currency which is used globally. Despite it being considered the future, online casino sites have quickly caught on and therefore cryptocurrency is accepted by all major websites. This includes currencies like:
Bitcoin
Litecoin
Dogecoin
Ethereum
Fasttoken
Dash
Monero
Tether
And more
One of the main advantages of using cryptocurrency when online is the high level of security. This is due to blockchain technology, the core of cryptocurrency. Furthermore, crypto uses two-factor authentication and ensures anonymity. Another huge benefit is that crypto often has the fastest processing times of all payment methods. Usually, withdrawals with other transfer can take 3-5 business days; on the other hand, crypto deposits and withdrawals are instant.
However, because it is a relatively new payment method, crypto can have some downsides. Although it is accepted in Ireland and the UK, other countries may not authorise its use.
Bank Wire Transfer
A bank wire transfer is incredibly common in online casino sites. This is because most punters have previously made a bank wire transfer before, as it is a widespread way to transfer money. Hence, it is easy and quick.
To make a bank wire transfer, you should have the following information. This includes providing your name and bank account number, the amount you wish to transfer, as well as the banking information of the online casino site. After this, you simply wait for the funds to be received. However, this process is relatively slower than other payment methods, because you must type in the above information, or be required to search for it when not readily available.
As well as ease of accessibility, this is a great payment method when you prefer to avoid modern technology like e-wallets. Moreover, some countries don’t allow these payment methods. Another advantage to note is security, as your banking corporation will be responsible for the seamless transfer of funds.
It is worth noting that these transaction fees are the highest in comparison to other payment methods.
Pre-Paid Card
An overlooked yet efficient payment method is pre-paid cards. A popular example of this is paysafecard, which is a common pre-paid card in Ireland. It is a 16-digit pin code which can consequently be used online to fund your online casino account. Advantages include:
Free registration: it is quick and simple to register. In fact, some pre-paid cards can be purchased without registration, making it even faster to get hold of them.
Separate from your bank account: using a pre-paid cards means that you don’t need to provide information from your regular bank account. Not only is this more secure, but you can keep a clear boundary between the two, making it easier to budget.
Safety: like we mentioned, no other information is necessary when using a pre-paid card. This includes bank details, billing information, contact information, and addresses. As a result, you can feel secure in the fact that these sensitive details aren’t disclosed.
Something to note with pre-paid cards is that you can only deposit, and not withdraw funds. If you want to cash in your winnings, you will have to use an alternative payment method.
Mobile Payments
The two most popular mobile payments are:
Apple Pay (used with iPhone, iPad, Mac, or Apple Watch)
Google Pay (used with Android phones, tablets, and watches)
Mobile payments are the ideal payment method for online casino sites for numerous reasons. Firstly, they are the fastest payment method out there, as you simply choose the apple pay/google pay option, and can immediately transfer money into your online casino account. Additionally, the verification features means that safety is ensures, as you must enter a password, have fingerprint identification, or face recognition, in order to make a payment. It is available on the majority of online betting sites, and is available in several countries including Ireland.
Conclusion
Overall, there are a range of payment methods available for use on online casino sites. You should look out for key features like fast registration, low transaction fees, security, safety, good currency conversion, accessibility, and reputation. All of these factors combined will ensure that you are using the perfect payment method tailored to you.
Below, we have demonstrated a table to summarise the information above on the most popular payment methods.
