A Guide to Understanding the Right Payment for Gaming
Casino gaming continues to increase in popularity, with more operators joining the industry on a regular basis. In order to compete in such a crowded sector, those companies need to provide as much choice to their customers as possible.
That choice can come in many forms: There should be a great selection of casino games online, including slots, roulette and blackjack. It also helps if those casinos offer players an extensive set of funding methods.
Casino forms just part of the overall gaming sector, but it is a big driver in a multi-million dollar industry.
Potential Providers
When players head to an established operator such as Bally’s Casino UK, there are many options for deposits and withdrawals. The minimum options expected are bank cards with VISA and Mastercard at the top of the list. Credit cards are no longer acceptable for funding sportsbooks, so these can be ruled out.
Most casinos also allow bank transfers, while many will also accept eWallets as a form of payment. Also known as digital wallets, these are financial institutions, such as PayPal, who hold funds in your account and allow you to pay for goods and services online.
Along with PayPal, there are many other eWallet providers including Skrill, Neteller, PaySafe and more.
A small set of established casino providers have also started to accept cryptocurrency for deposits and withdrawals. The likes of Bitcoin, Litecoin and the rest, may seem a mystery to some of us, but those that have mastered crypto, like to see those options made available.
It’s still a growth area, but more online casino operators will begin to accept cryptocurrencies moving forward.
Pros and Cons
There are advantages and disadvantages to using any form of funding for casino games online. The most popular option among the gaming community is a debit card and there are certainly more positives than downsides.
A debit card will usually be the fastest way with which to fund your casino account. Deposits will be instant and, while withdrawals can typically take up to 48 hours, they will usually appear in a player’s account on the same day.
Most transactions using a debit card will also be free, with no charges made by the casino.
The only potential negative is that, once a debit card has been used for an opening deposit, the details are stored by the casino. Remember, however, that all online operators employ high levels of security and encryption to keep sensitive information safe from unwanted third parties.
In contrast, an eWallet has an advantage over debit cards here. When an eWallet is used for a transaction, no financial details are shared with the merchant. However, the transactions could be slower and there is a greater likelihood of charges being applied.
One final point to remember relates to offers and promotions. Under many terms and conditions, casinos will often exclude certain funding methods, mainly eWallets and crypto. Be sure to check this point before taking up any promotion.
With that information in mind, let’s take a look at some types of games online and the choice of funding methods that are attached to them.
Casino Games Online
We’ve already touched on the pros and cons of all online payments, and those factors are particularly important with casino play. The main point to remember concerns those offers and promotions.
If you are signing up with a bookmaker and are looking to take up a welcome bonus, remember to check those terms and conditions in full. In many cases, the offer will be invalid if you fund your account via an eWallet. Because of this, the best option when you play casino games online is to use a debit card.
Sports Games
This is a wide category that can include games such as FIFA or PGA Tour 2K23. Unlike online casinos, there is less of a need to top up an account balance in order to keep playing. However, there may be an options to complete in-play purchases.
Players of sports games may need to maintain an account balance, or make one off payments, so which method is best? There is no promotion to take advantage of in this instance, so it’s usually acceptable to pay with debit cards or eWallets. Do remember to check terms and conditions to establish this point.
Debit cards are quick and easy, while eWallets such as PayPal do not share financial information with the merchant. The eventual choice is down to the player, but eWallets may be a better option due to that added security element.
General Video Games
This is an extensive category that could include many titles such as Fortnite, League of Legends, DOTA 2 and more.
Within this general category, there may be more options to make in-play purchases. The same principle applies here. Debit cards are fast, but eWallets have that extra security layer, and they may be the better option in this case.
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