It wasn't that long ago that we approached online payments with hesitation and intense scrutiny. These days, with the stringent security measures that casinos have in place, making payments online is safe. We don’t give a second thought to throwing our card details into the ether to cash in on a deposit bonus.
One of the things to consider when choosing an online casino is the payment methods that it accepts. It can be daunting when you see the list of options available, many of which you may never have heard of before. If you stick to those that you’re comfortable with, you can enjoy the casino experience stress-free.
Are All Online Casino Payment Methods Safe?
Since the legalization of online gambling in Canada in 2009, the number of people participating in this popular pastime has skyrocketed. With over 19 million Canadians flocking to the virtual gates of online casinos, large sums of money increase these casinos’ coffers daily.
Casinos have a responsibility to their punters to ensure that transactions are secure and their money is safe. Make sure that the online casino you use is licensed and regulated by a reputable gaming authority, such as the UK Gambling Commission or Malta Gaming Authority.
In addition to this, the casino should use SSL (Secure Socket Layer) encryption technology for all transactions to ensure that your payment information is secure. This technology is the same as that used by banks and shops, and it keeps your details as safe as they would be if you were paying in person.
Even with licensing and technology ensuring the transactions’ safety, you should always feel comfortable making online payments. You’re unlikely to feel as confident trying a new payment method as you would when paying by one that you’re familiar with.
If you usually pay by Visa or Mastercard when shopping online, it’s advisable to do the same at an online casino. Similarly, if you prefer using e-wallets like Paypal and EcoPayz, use them when depositing real money at a casino.
If you’re the experimental type and happy to try different casino online payment methods, always check the casino’s terms and conditions first. These will give you an idea about which will be best to try. Some might impose fees or deposit limitations, and it would be awful to get caught out before you’ve had a chance to wager anything.
Most casino operators have strict requirements for withdrawals, which provide added security for both you and the casino. These are some of the most common, but they can vary from operator to operator.
You should expect to use the same online casino payment methods for withdrawals as you do for deposits unless a withdrawal option isn’t available.
Security checks ensure that you’re of legal gambling age, and they also verify that you’re the holder of the bank account/card used for withdrawals.
Proof of identity is usually sufficient, but you could be asked to email or upload a proof of address as well. For card withdrawals, you’ll also need to provide a copy of the front and back of the card.
Number of Withdrawals
Some casinos restrict the number of withdrawals you can make within a predetermined time frame. You might be able to make three withdrawals in a week, but only five in a month.
You’re limited to how much you can withdraw, whether daily, weekly or monthly. These minimum and maximum limits are usually available in the Payments section of the website. Some payment methods determine these amounts rather than the casino. It’s wise to check out any limits that apply to your preferred casino payment methods.
Make sure you read the terms and conditions for payments, both deposits and withdrawals, on the casino’s website.
Casino Deposit Options And Bonuses
Casino bonuses are a big attraction at an online casino. It’s a popular way for the casino to lure new users and retain their existing customers. The difference between you joining one casino and not joining another often comes down to the size of the bonuses available.
If this is a factor in your decision making, make sure you look closely at any limitations that your preferred payment method places on the bonuses. You’ll find that not all casino deposit options are eligible for a welcome or deposit bonus.
Neteller and E-wallets
Neteller is one of the casino payment methods accepted at most casinos but exempt from the deposit bonus scheme. The reason for this is to combat bonus abuse that has previously occurred with Neteller payments.
Neteller is a type of e-wallet and acts as the middleman in the payment process. It ensures a degree of privacy to its customers, which can hinder the verification of your ID.
Each player can only claim a welcome bonus once. Some players have used Neteller to open multiple accounts and claim the rewards, thus breaking the rules. This practice amounts to bonus abuse.
Other e-wallets may also be ineligible for welcome or deposit bonuses. You can find information in this regard either on the casino’s terms and conditions or included in those for the specific bonus if it’s not a blanket restriction.
Other Factors To Consider
Speed of Transactions
The faster you can pay and play, the better. Similarly, if you have a decent win, you’re not going to want to wait days for the money to reach your account. Most deposit options are instantaneous, but make sure you look at the waiting times for withdrawals before deciding on your online casino payment methods.
If you run into problems when transacting at an online casino, it’s reassuring to know that assistance is available. Live chat facilities are perfect as the response is quick, but multiple methods of reaching the support team go a long way to making you feel secure.
Try and steer clear of payment types that incur fees. If you’re depositing C$100, you want to be able to play through that amount and not relinquish a portion of it due to charges. Remember that it’s not always the casino that charges the fees.
Credit and debit card companies themselves levy a charge for transactions. Some e-wallets like Paypal charge fees when you withdraw money back into your bank account or card. Choose a payment method that doesn’t charge fees or has costs that you’re comfortable accepting.
Wagering in online casinos can be a fun way and lucrative way to pass the time. If you’ve done your research before venturing into this adrenaline-fuelled world, there’s no reason why you won’t love every minute.