What are the most popular payment methods of online casinos

what-are-the-most-popular-payment-methods-of-online-casinos

Nowadays, online casino operators can offer gambling lovers a whole package of safe and secure payment methods. In fact, the majority of online casinos provide at least six or seven various payment options, while the leading online casinos with advanced payment systems can propose a whole lot more. Therefore, if you are planning to start an online casino, you must develop a strong payment system with multiple payment options that give players the convenience of paying with their preferred methods.

Online casino Payment options can be divided according to card payments, e-wallets, bank transfers, and cryptocurrencies. Card payments include credit cards, debit cards, and prepaid cards. E-wallets encompass online financial service companies such as PayPal, Neteller, MyCitadel, EcoCard, etc. Bank transfers operate through Wire Transfer, eCheck, InstaDebit, and iDeal. The most popular cryptocurrencies in the iGaming industry include Bitcoin, Litecoin, Ethereum, and Tether. We will go through these categories and examine each method in detail.

Credit Cards, Debit Cards, and Prepaid Cards

A credit card is a type of payment card that enables a cardholder to pay for services and goods based on the accumulated debt. It means that credit cards allow users to spend more money than they actually have on their accounts and pay for the accrued debt afterward.

Credit cards are one of the most common and preferred depositing methods for online casinos. They are easy to use and widely available, providing the safest and most convenient banking service for your users. In addition, operators like American Express, Visa, and MasterCard offer the highest levels of security when it comes to credit, debit, and prepaid cards.

On the other hand, debit cards only allow the client to spend money they actually have on the account. It is also a very popular method for depositing at online casinos and withdrawing the winnings.

On the contrary, the prepaid card is not linked to a particular bank account. When using a prepaid card, you are spending the amount you have already loaded into the card. Since it’s not linked to a specific bank account, it ensures anonymity and security when paying online. Most users do not want to give their personal details to the recipient. In this case, prepaid cards are the best option for paying without disclosing personal information.

Below you can see the information about various card-issuing entities and their compatibility with online casino services. Needless to say, the number of available options can be puzzling, but we will review only the most famous, recognized, widely accessible, and trusted methods.

Visa cards are the most accepted and popular debit or credit cards to incorporate into the online casino payment systems. It is the most trusted and convenient method for clients making deposits and withdrawing winnings. The visa is also suitable for transferring the winnings and is a perfect banking method for every online casino and client worldwide.

MasterCard is also a popular and approved method for depositing and withdrawing money from casinos. It is simple, easy to use, and quick. This brand issues credit and debit cards. Being one of the most proliferated banking methods for deposit and withdrawal operations, every online casino operator needs to include it in the payment system.

American Express is one of the most famous and secure cards around the world. Users can enjoy the benefits of increased limits and secure and safe transactions with it. The best online casino payment systems incorporate AMEX since it is a great payment option for iGaming. In addition, it’s suitable for online casino deposits and withdrawals. Even though the central part of its clientele is in the USA, AMEX is not limited to one region and has a vast global footprint.

PaySafe Card is a prepaid card solution spread in Europe and the UK. It provides an excellent level of security and is one of the safest online casino payment methods. PaySafe card does not require sharing banking details across the websites, and it has a free mobile application for Android and IOS to make payments through QR codes. Inserting the most highly secured payment options, like PaySafe Card, into the system will help you gain your clientele’s trust.

SEPA (Single Euro Payments Area) is a very effective solution for coordinating systems between banking networks of different EU countries. Using a SEPA card lets your online casino take direct debit payments from players securely, efficiently, and quickly. There are myriad options for deploying the SEPA in the iGaming industry, and a growing list of online casinos are using it for deposits and withdrawals.

E-Wallets as online casino payment methods

Although credit and debit cards are the most common methods of making online casino deposits, e-wallets are emerging as the fastest-growing sector for executing financial transfers at online gambling websites.

An E-wallet is an electronic account that enables the user to store money in a digital form and spend it on goods and services online. At first, the user signs up for an account through a provider website (PayPal, Skrill, Neteller, etc.). Afterward, a player links the bank account or credit card to add money to the wallet. Finally, the customer visits your online casino to deposit and start playing.

E-wallets have various benefits. Nevertheless, the best convenience they offer is the instant transfer of the funds to the casino and back to the account in case of winnings. Furthermore, by using e-wallets, players can make deposits and withdrawals in an ultrafast manner, without time lags and delays. When it comes to speed, e-wallets certainly beat the timeframes of credit/debit cards and bank wires.

PayPal can provide a fast electronic digital currency deposit service for online casino players. Lately, it has become one of the significant depositing methods by the most prominent online casinos. This is because it is a highly secure system that guarantees safe transactions and the protection of personal information. Nevertheless, several countries, including the UK, only accept PayPal for online casino deposits and don’t enact it for withdrawal operations. Moreover, remember that you need to have a local license to include PayPal in your payment system.

Skrill is another digital wallet that can make online betting payments very fast. Skrill is accepted by various major casinos, poker rooms, and bookmakers. The privacy is protected, and there is no need for third-party verifications. Furthermore, Skrill will be favorable for your clients because it can make transfers without inducing charges and extra fees from financial institutions. Your players can use this service when making deposits or withdrawing the winnings. Skrill is one of the most gambling-compatible e-banking options available for your betting site.

Neteller is a popular e-wallet for online betting payments, deposits, and withdrawals. It is accepted by almost all popular online casinos and ensures rapid processing for depositing and withdrawing money from them. In addition, Neteller has a high level of security with 128-bit encryption and 2-step authentication, and it protects the sensitive information of your players.

EcoPayz is becoming a highly popular payment method for online casinos. It guarantees the speedy transfer of deposits, has a sophisticated layer of security, and is equipped with the latest technology. The platform is very simple to set up and use. Furthermore, EcoPayz ensures the existence of a buffer between the player’s bank account and your online casino account so that sensitive information is not overshared.

Bank Transfers for online casino payments

Bank transfer, also referred to as wire transfer, is a method of e-funds transfer from one entity or person to another. It is a payment method by which gamblers can directly move their funds from their bank account to your casino bank account. The involving banks deliberately protect such transactions to ensure the safety of the transfer and data.

Most online casinos are allowing their players to make withdrawals and deposits via wire transfer. It is a simple method available for online gamblers. Wire transfer is especially effective to use for large deposits and withdrawals. Thus, it will be the most preferable option for high roller gamblers wagering in your casino.

When it comes to finding a time-tested, secure gateway for making online casino deposits and withdrawals, SWIFT is one of the best choices online casino operators can include in their payment system. SWIFT payments are cost-efficient, secure, and can operate globally, bypassing potential local restrictions. SWIFT offers the utmost security, effective delivery, and global reach, but on the downside, in some cases, there may be delayed withdrawals (max. 5-7 business day period) and fees for withdrawal depending on the amount of money transferred.

Cryptocurrencies for online casino payments

Another option for making online casino deposits is cryptocurrencies that are taking over the internet. They offer a faster and more secure alternative to traditional, conventional payment methods. As a result, your online casino must integrate digital currencies to speed up payments and offer new, convenient approaches to the players.

The growing number of crypto casinos proves that cryptocurrencies are becoming one of the leading payment methods in the online gambling industry. Various online gambling sites have implemented digital currencies such as Bitcoin, Ethereum, Litecoin, and Tether, into their payment system. Let’s have a look at the best cryptocurrencies that are widely accepted by online casinos.

Bitcoin is one of the most popular cryptocurrencies and payment methods for online casinos. The most important advantage is its anonymity and decentralized nature. In addition, it has no connection to any personal bank account. Thus, using Bitcoin while gambling protects the identity of your users. It does not require sharing personal info or banking data and protects users’ privacy.

Tether is mainly a stable coin, with its value tied to fiat currencies, primarily USD. Therefore, Tether will remain stable even if there are vast fluctuations and massive swings in the crypto market. This characteristic makes it a perfect payment method for online casinos. Furthermore, it ensures instant deposits and withdrawals for your clients. The process will be carried out without long delays and the involvement of third-party organizations, such as banks or government agencies.

Litecoin holds its place among the top digital bone of the main competitors of Bitcoin. Moreover, it can guarantee faster online transactions processed under three minutes, making it a perfect option for online casino deposits and withdrawals. Therefore, it is not surprising that modern online gambling sites have Litecoin in their payment options.

Ethereum is not only a cryptocurrency, but it also serves as the decentralized software platform for the exchange of money, content, and other types of assets. It ensures an excellent level of security, enabling the users to stay anonymous while making deposits and withdrawals. Another essential advantage of Ethereum is the high speed of transactions with significantly low fees. It is a very favorable option for gamblers and crypto lovers. As a result, most online casino operators have incorporated it into their payment system.

Frequently asked questions about online casino payments

What are the most important factors to consider when selecting online casino payment methods?

Security and authority are the two main factors you should consider when choosing the payment options for your system. Thus, it is of utmost importance to ensure that the payment source you incorporate is trusted, secure, easy to use, and comfortable for your clients.

Upgaming offers one of the most secure and safest payment systems equipped with leading payment infrastructure and an AI-furnished anti-fraud system that protects you and your clients from illicit, fraudulent financial attacks and activities. By acquiring Upgaming’s iGaming platform, you will get an all-inclusive, efficient payment system with the highest security and risk management system that creates a safe environment for your business growth. Contact our customer success or business development team to obtain more detailed information about our services.

What are the fastest payment methods for online casinos?

perfected for speedy payments. There are some cases when credit and debit cards can also tackle with them, but mainly it is up to the banking service provider. Upgaming’s payment system includes both options to ensure the finest service for your clients.

Which methods are more secure for online casinos?

First of all, consider incorporating and using only recommended and well-known services and avoid obscure payment gateway providers. Fraud, theft, and bad service are the last things you and your client need.

All payment options listed in this article are safe as security is their top priority. Nevertheless, they use different methods or a combination of those to ensure the safety of transactions. These methods can be Credit Card companies’ insurance, fraud prevention algorithms, 16-digit security codes, etc.

Our payment system incorporates only authoritative, internationally attested, verified, and highly protected payment options that are easy to use and accessible for your clientele.

What card payment methods are the most popular to use in online casinos?

The most popular card payment methods are VISA and MasterCard. They are among the most suitable, worldwide, and widely known means for executing financial transactions and operations, including depositing and withdrawing money from online casinos. They are issued by trusted, reliable operators and represent simple, easy-to-use methods for playing on an online gambling website.

What is the most widely used e-wallet for making deposits and withdrawals?

PayPal and Skrill are the most popular and frequently used platforms for executing transactions when it comes to digital wallets and their deployment by gamblers. This is because they are both highly secured and guarantee fast services, which is very suitable for most gamblers seeking a way to make quick transactions without compromising their safety and security.

What is the most proliferated digital currency in the iGaming market?

When we speak about cryptocurrencies, the first thing that may pop into your brain is Bitcoin. Why? Because it is one of the first digital currencies invented and is still popular for multiple reasons. Due to the decentralized blockchain system, Bitcoin ensures the anonymity of its users while remaining transparent in the internal network through multiple public key addresses. It is a highly secured system characterized by simplicity and no-fee transaction processing. It is a very attractive and practical, profitable option for gamblers who are dedicated users of online casinos.

Conclusion

Online casino payment methods can vary depending on the country and its jurisdictions. Nevertheless, countless reliable and secure services provide fast and easy payments.

Most successful online casinos offer various payment methods to ensure that clients choose from their favorite one and pay with its service. Every operator knows the significance of the leading payments infrastructure, with multiple types of local and international payments allowed. Thus, you also need to opt for diversity and security when designing the payment system for your online casino.

Nowadays, payment systems go beyond the scopes of credit/debit cards and bank transfers. The high level of customization, a wide variety of methods, and modern, AI-equipped anti-fraud systems are the main components of evaluating the efficacy of an online casino’s payment platform. This is why you should think about acquiring our payment system. It provides a wide variety of trusted payment methods. In addition, it is armed with the most robust AI defensive barriers and can provide simple, easy service to your customers.

The payment system plays a decisive role in the successful operation of your online casino. Therefore, you need to ensure the safety of your platform, incorporate as many methods as possible, and offer clients a fast, secure service. Get in touch if you have any additional questions. We will help you design a leading-edge iGaming business with effective and quick payment solutions for your online casino business.