Top Payment Modes for Online Casinos

Online casinos were first formed in the year 1994. By 1996, gamblers could place bets with real cash in mobile casinos. The idea of making money from gambling is what makes art even more thrilling.

Because of the growing number of online gamblers worldwide, live casinos are making it easier to make payments online. There are currently about 114 payment methods for online bitcoin casinos.

One of the major concerns about conducting money transactions is the potential risks involved. As a matter of duty, most online casinos go the extra mile to ensure safe and secure payment options.

Some online casinos may indicate which methods are most suitable for withdrawals and/or deposits. This goes a long way to create some ease for the gambler in parting with money.

We have listed below the top six payment methods offered by most online casinos:

Online Bank Transfer

This is one of the most common payment methods for online transactions. They are easy and straight to the point. This is why a lot of online casinos provide support for online bank transfers. There is typically a gateway in your betting account connecting you to your bank's online transfer page. People use online bank transfers a lot because of their seamless and ubiquitous nature.

Credit/Debit Cards

This is another popular payment alternative for playing casino games in online casinos. Almost all casinos accept Visa, MasterCard, and American Express cards. Credit/Debit cards are one of the safest and most secure modes of payment. These online payment gateways provide an exclusive, hack-proof system that ensures a great customer confidence level. This is why credit and debits are one of the top method of payment for gamblers.

E-wallets 

E-wallets are a great payment method supported by most online casinos. Examples of e-wallets are Neteller, Skrill, and Paypal. The good thing about e-wallets is that they let you carry out swift transactions in a few minutes. They are also good with foreign currencies, allowing you fast and seamless conversion at any time.

Mobile Wallets

Mobile Wallets come in as a payment method supported by a lot of online casinos. Examples of mobile wallets are PayForIt, PhonePe, and PayTM. Mobile Wallets are, in many cases, a better alternative to e-wallets, especially for gamblers who gamble from a mobile device. mobile casinos now seize the opportunity presented by this payment option to provide a great service for their customers. Mobile wallets are very fast and simple in their usage.

Prepaid Cards

Prepaid Cards offer you the option of converting to cash when you want to credit your gambling account. Examples of prepaid cards are Paysafecard and EntroPayz. These cards can be bought and kept until when needed.

You can use them to fund your online casino and get welcome casino bonuses. It spares you the risk of providing your sensitive bank information. They are also good at keeping you in check, so you don't go over-budget.

Cryptocurrency

With the coming-of-age of cryptocurrencies such as Ethereum and bitcoin, online payments have become a lot easier. Fortunately, many online casinos now offer cryptocurrency payment options for their customers. To use this service, you must be under a cryptocurrency provider.

Immediately you purchase the crypto coins; your provider would instantly credit them into your online casino account. Cryptocurrencies are relatively fast, safe, and attract very low transaction fees.

This option, however, comes with its shortfalls, mostly because of the erratic nature of cryptocurrencies. It is always advisable to confirm rates ahead of time before making purchases.