Playing slots and popular table games in online casinos has become one of the most thrilling things for people to do nowadays. Whether you jump on your PC after a long day at work or open your favorite games on the go via mobile, it is a great way to win real money and increase your bank account.
However, people no longer rely on the typical bank account to deposit and withdraw winnings, as online casinos are offering a wide range of alternative payment methods such as cryptocurrency, PayPal, and eChecks.
Here, we’ll do a deep dive into just some of the unique payment methods you can opt for when using online casinos and how they can benefit you.
Common payment methods
Before we get started on alternative payment methods, let’s discuss the most common ones. When you first use an online casino or betting site, you typically have to place a deposit to activate a welcome offer. You choose how much you want to place in your balance, and then you can use this money to place a bet or play a game.
The payment methods available on your chosen online casino will depend on what the site allows and the country you’re accessing it from. However, the most popular payment methods for these casinos are using fiat currency through the use of debit and credit cards.
Visa, MasterCard, and American Express are usually three of the main vendors you’ll find when making a deposit or withdrawal from an online casino. They are really easy to use, but the only problem is these options normally come with long withdrawal times, so you have to wait before you can cash in on your winnings.
Almost every casino offers these traditional payment methods, however, people are looking for more fast and more efficient ways to make deposits and withdrawals. That’s why they are now offering a wide range of alternative payment methods that make playing on these casinos a more enjoyable experience.
Cryptocurrency is one of the most innovative payment methods offered by online casinos, and the type of coins offered will depend on the website you’re using. Some casinos are even dedicated entirely to cryptocurrencies, such as BtStarz and mBit Casino. Whether you want to use basic coins such as Bitcoin and Ethereum, or other cryptos such as LiteCoin, you can use them to deposit and withdraw your winnings.
Using LiteCoin in online casinos is super easy, and it provides you with a higher level of security, transparency, and speed. You can make a withdrawal almost immediately, so it is the reason that many casinos are starting to introduce Litecoin and other cryptocurrencies into the mix.
Skrill is an online wallet used as a payment option for online casinos, mainly those based in the UK. It has been around since 2001, but it only started to kick off in 2015 when it became incorporated with the Paysafe Group. While people mainly use it to transfer money to friends, family, or different accounts, it is now able to let people make deposits and withdrawals on online casinos.
This payment method is often used as an e-wallet, which you can access via an app on your phone or through the Skrill website, but you can also now request a physical card in either GBP, EUR, USD, or PLN. However, this card can still be controlled through the app, which provides you with a safe and convenient way to make payments.
Similar to Skrill, PayPal is also an online wallet, but it is used much more globally and on a wider scale. Almost every online casino offers this popular payment method, which is no surprise considering the platform has over 360 million users across 200 countries, and it is a convenient way to send and receive money.
How PayPal works is simple. You add and link several bank accounts to your account, and you can make deposits without having to enter your bank details every time. Everything goes through a safe and secure system, so you never have to worry about any breaches. It has become to go-to payment option for many people.
Physical checks are now a day of the past when you have eChecks available. You no longer have to carry your checkbook around with you each day as this payment method has now gone digital, allowing you to process any deposits much faster. It is a super safe option and completely easy to use, so online casinos are allowing their players to use them.
You don’t have to ever worry about forged payments if someone finds your checkbook because everything is done over the internet. It also takes away any waste from paper, so it is a good option for the environment.