Which deposit method offers the easiest way to fund your online casino account? There are many options including credit cards, debit cards, eWallets, and wire transfers, each with their own pros and cons. Every country has its own set of rules and regulations when it comes to online gambling. Hence there is no single standard for determining the simplest method. For example, due to federal and state financial institution laws, US players are much more restricted in the way they can fund their online casino accounts, while UK players generally have no problems.
Below is a list of the most common methods of depositing funds into your online casino player account. Some gambling sites like most bet actually offer additional bonus offers depending on which method you use.
Credit cards
The most common deposit method is using credit cards. A big advantage is that they are easy to use; You simply go to your casino’s cashier, enter your credit card information and the amount you wish to deposit, and the finds are instantly added to your account.
One disadvantage of credit cards is that gambling-related transactions often have higher interest rates. In addition, not all cards are accepted in every online casino. Accepted credit cards are usually clearly stated in the deposit section of the website. US players also face a unique set of challenges as their credit card companies may decline the transaction when it is clear that the funds will be used for an online casino account.
Debit cards
Debit card deposits are becoming more standardized as players can bypass the higher interest rates of credit cards. Debit cards are widely used in the UK and Europe. Depositing and withdrawing money is much easier at these sites as online gambling is not only legal but is actually regulated by the government.
An increasingly popular alternative to credit and debit cards are prepaid cards. These allow US players to bypass credit card restrictions and because you pay for them up front, players have more control over their spending.
eWallets
Electronic wallets or eWallets are exactly what they sound like. They are online accounts that hold your money and can be electronically allocated elsewhere. The draw of eWallets is their convenience. You can easily fund your player account and there are no excessive charges for using it at an online casino.
eWallets are usually free to open, but you’ll be charged a percentage of each transaction (something to keep in mind when transferring large sums of money). Once you have signed up for an account, all you have to do is provide your bank account details such as your account number and sort code. This will link your bank account to your online eWallet and you can easily transfer funds between the two. In a way, eWallets can be seen as a virtual intermediary between your real bank account and your online casino account.
Common eWallets include Neteller, Moneybookers and Click2Play. Many people also use NetPay, Central Coin, Payspark, Citadel, and UseMyBank. PayPal is also regaining popularity on online casino sites, but it is mostly limited to players from countries where online gambling is legal, such as the UK. Due to the legal situation surrounding online gambling in the US, most eWallets no longer accept US players.
Bank Transfer
Another option is to transfer money directly from your bank account to your online casino account. A few downsides to wire transfers are that it can take several days for the funds to show up in your account. They also tend to have higher fees than other deposit methods. The beauty is that your bank will walk you through the entire process, including all the information you need to get from the gambling site if you’ve never made a wire transfer before.
