With online casinos becoming more popular, there is an increasing need to have a safe and convenient means of moving gamers’ money in and out of the online gaming halls. With the myriad online payment options around, one would get stuck with choosing the best casino deposit option to go for. This article offers to give a comprehensive summary of the best and most popular casino deposit options. This review will guide you to choose an effective casino deposit option.
Overview of Online Payment Options
Ranging from virtual money to cryptocurrency, there are hundreds of options one would go for when transacting money online. The key determining factors when picking a payment option is the convenience, security and efficiency. As such, for many online gamers, the most commonly used methods for making casino deposits are ewallets, vouchers and credit and debit cards. In the next section, you will find a list of the most popular casino deposit options. We have gone further to give you a brief outline of the companies behind these deposit options.
Most Popular Casino Deposit Options
PayPal
PayPal was founded in 1998 and was later acquired by e-commerce giant eBay. The American company has since grown to become one of the most popular online money transfer companies. PayPal is accessible in more than 190 countries. When it comes to online casino deposits, PayPal, however, is not as popular as some other payment options. This is probably a corporate strategy to try keeping the online payments giant out of trouble with most jurisdictions that are still sceptical of online gaming. However, this does not mean that you will not have a good selection of online casinos accepting deposits via PayPal. This is a payment method that can come in handy mostly for gamers in the United States.
Moneybookers
Also referred to as Skrill, this is an online payment method that you will find in virtually all online casinos. Moneybookers was founded in the United Kingdom in mid-2001. The company has since rebranded and is commonly referred to as Skrill. Moneybookers offers arguably one of the best and most accessible casino deposit options since casinos from all around the world accept it as a deposit option.
Neteller
Carefully following Skrill-Moneybookers in popularity is Neteller. The company was founded in Canada in 1999 but later moved its operation to the Isle of Man. Since its inception, Neteller embraced the growing online gaming industry and became one of the first e-wallet companies to facilitate online casino deposits and withdrawals. Even after the U.S came in to freeze some Neteller accounts, Neteller remains the closest rival to Skrill’s popularity. With its high-level security and efficiency, Neteller is the go-to casino deposit option for many gamers, especially in Europe.
VISA
This is a brand that needs very little introduction to many. Founded more than fifty years ago, VISA has morphed to become a multinational financial services company that is accepted globally. Your VISA card can be used as a link to transfer funds from your bank account directly into your casino gaming account. The use of VISA as a casino deposit option is however limited by the major challenges associated with using credit and debit cards for online transaction. With most jurisdictions, there is a limit to the use of credit cards for gambling activities. If you are in a country with no such restrictions, you can then go for VISA as your casino deposit option as it has a higher acceptance rate in comparison to other credit cards.
Mastercard
Founded out of the cooperation of several American banks, Mastercard has since grown to become a major player in the global financial sphere. Mastercard is arguably the closest competitor to VISA. Mastercard, however, has a higher decline rate when it comes to online casino deposits, in particular for gamers in the United States. You will still find thousands of online casinos accepting Mastercard deposits, and therefore this can still be considered a convenient deposit option.
American Express
An analysis of traditional credit card options would not be complete without considering American Express. Commonly referred to as Amex, this is one of the most popular American brands. Amex is also well known for its high regulatory standards. For this reason, it is not very common as a payment method in online gaming. This, however, does not mean you will not find numerous online casinos accepting Amex as a deposit option.
Ukash
Ukash is an e-voucher system based in the United Kingdom and has been in operation for more than a decade. Ukash uses an electronically generated code that carries the value of the money paid. This code then functions as your e-voucher for whatever online payments you intend to make. Ukash has proved to be convenient for online gamers in Europe, Africa, Australia and the United Kingdom. When used as a casino deposit option, the gamer has the convenience of keeping their personal bank accounts away from the gaming sites.
PaySafeCard
Closely related to Ukash is PaySafeCard, an Austrian e-voucher system. PaySafeCard vouchers can be purchased from physical outlets available all across Europe. Once you have purchased your voucher, you can then use it to make your payments online or even top up your gaming account. Though not as popular as other online payment methods, you will still find hundreds of online casinos accepting deposits via PaySafeCard. This is mostly common in Europe and some U.K online casinos.
UseMyBank
This is a Canadian e-wallet service that offers to link your bank account with your online payments. Also referred to as UseMyFunds, this method offers an instant link to the funds in your bank account. When choosing this method, however, one has to consider the security threats that this may pose. Also, the UseMyBank system is not yet available in the United States. For Canadian gamers, this can still offer a convenient casino deposit option.
MyPayLinQ
Based in Costa Rica, MyPayLinQ provides e-wallet services accessible globally. This payment option can be a great option for American gamers since more than thirty American online casinos are accepting it. MyPayLinQ guarantees their clientele utmost privacy and security for their personal banking information. However, it is important to note that the transactional fees charged by MyPayLinQ are relatively higher compared to other standard e-wallet companies.
eCheck
This payment method functions like the conventional checking system, only that here the checks are electronic. This offers the added convenience of quickly transferring money from your checking account to recipients miles away. The echeck payment system has become popular with online casinos and can be efficiently used as a deposit option even in the United States and Canada.
Giropay
Giropay offers an electronic funds transfer system for account holders in more than 1,500 banks. The system offers a network to transfer funds through German banks securely. As such, this method is mostly efficient for online casino players who have a German bank account.
iDEAL
The ideal is a system that functions like the Giropay system. The iDEAL system is founded upon the cooperation of several European banks including popular brands such as ING Bank, ASN Bank, Rabobank, ABN AMRO and SNS Bank. The system functions like an e-wallet service allowing access to the funds in your bank account. This can be a great casino deposit option for gamers in Europe.
Western Union
If you are a gamer who looks for a more traditional money transfer system, the Western Union is without a doubt the payment method you should go for. For centuries, Western Union as offered a legal money transfer solution and has proven to be greatly reliable. With modern technological advancements, Western Union has modified their systems to ensure they remain the go-to option for online funds transfer. You are assured to find hundreds of online casinos accepting the Western Union as a deposit option.
Wire Transfer
Also commonly called electronic funds transfer, bank wire transfers offer a secure and instantaneous access to the money in your bank account. You will hardly find an online casino that does not accept bank wire transfers for deposits.
Conclusion
The thrill of online gaming is even more intensified when you are assured of a hustle-free money transfer process. With all the above methods, you can enjoy uninterrupted gaming. However, with any casino deposit option, it always important to first ensure you are gaming in a legitimate online casino to protect yourself from online fraud.