The first online casino was launched in 1994. Two years later, betting with real money at online casinos became possible. Casino games in themselves are fun, but adding the chance of real money profits makes gambling more enjoyable. Over the years, online casinos have increased support for multiple payment options. Nowadays, there are nearly 114 payment options available for online gambling.
Real money transactions online always carry some amount of risks. As a result, online casinos strive to provide gamblers with safe money handling options. An online casino may specify which payment modes are supported for deposits and/or withdrawals. Having the option of familiar payment methods helps gamblers feel more comfortable in gambling with real money.
Some of the top payment modes offered by online casinos are:
Online Bank Transfer
Online bank transfers are familiar, simple and straightforward. Most people have some form of experience with online bank transfers. As a result, many online casinos also support online bank transfers for funding gambling. You can add money to your online casino account through the payment section. There will be a link that connects you to your standard banking page. The benefit of online bank transfer is that it is easy and accessible.
Credit/Debit Cards
Credit and Debit cards are among the most popular payment modes for online gambling. Cards such as Mastercard, Visa and American Express are widely accepted by online casinos. Most people have some credit or debit card that can be used for gambling. These payment providers themselves have extensive security, so making payments is safe. With credit cards, gamblers have greater freedom in adding money to their online casino accounts.
E-wallets
E-wallets such as Skrill, Neteller and PayPal are gaining popularity in daily life. Online casinos are also now supporting e-wallet payments. The best advantage of using e-wallets is that the transactions are almost instantaneous, completing within minutes. Also, e-wallets are flexible in using different currencies. So, if you are looking for a quick, flexible, and secure mode of payment, e-wallets are a good option.
Mobile Wallets
Similar to e-wallets are mobile wallets, such as PayTM, PayForIt and PhonePe. Online casinos are recognizing that many who use mobile wallets are more comfortable with them than e-wallets. Accordingly, mobile wallets are now also accepted by online casinos. Mobile wallets are especially convenient if you are using a mobile device for your online gambling. You can complete payment transactions directly from your mobile phone. They are fast, reliable and easy to operate.
Prepaid Cards
If you like to plan ahead, a prepaid card can be a great online casino payment mode for you. Prepaid cards such as EntroPayz or Paysafecard can be purchased in advance for specific amounts. These cards can then be used to transact that amount with your online casino. Since these cards are bought, you do not need to share personal bank details online. Prepaid cards are also beneficial if you want to keep your gambling within budget.
Cryptocurrency
Cryptocurrencies such as Bitcoin and Ethereum are a relatively new payment system. Nevertheless, many online casinos now accept cryptocurrencies for payments. To make a payment in the form of a cryptocurrency, you will need to have a cryptocurrency provider. Once you purchase the coins, the provider would then transfer to the online casino. The value of cryptocurrencies tends to be volatile, so remember to check in advance about current rates. The main advantages of cryptocurrency payments are that they tend to be fast, secure and with minimal transaction fees.
Offline Payments
Many people are not comfortable with money transactions online. Therefore, there are still many casinos that facilitate offline payments. Undoubtedly, the process is longer and cumbersome, but for some gamblers, offline payments are preferred. Advantages of offline payments are greater anonymity, and that large amounts can be safely transacted. Offline payments can be made through bank wire transfers, cheques, bank drafts and through payment systems such as PayNearMe.
Deposits Vs Withdrawals
Online casinos typically require you to use the same payment method for withdrawals as used for deposits. Using the same payment mode reduces the requirement for double verification. However, verify in advance, if the payment method you are using for deposits can be used for withdrawals as well.
Conclusion
When you plan to gamble online with real money, it is important to choose a suitable payment method. Always opt for a well-known and established payment service provider. Preferably, use a payment mode that is familiar and comfortable for you. With a known payment mode, you can fully focus on enjoying and winning casino games and bets.
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