The Untold Facts About The Most Popular Online Casino Payment Gateways
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Knowing everything about the payment options in an online casino is very important before you start playing. Aside from the deposits, you also need to know how to make a withdrawal to get your winnings.
Casinos are well aware that they need to provide their clients with a wide array of payment solutions. They also know that some clients may have difficulties with transactions, so most operators make this process as convenient as possible.
Of course, the step-by-step instructions in the casinos will not reveal everything. There are many small details that clients need to figure out themselves, which is why it’s time to learn more about them here. To make this article easier to understand, we will review all the popular payment solutions and focus on their specifics.
Katerina Gadzheva, Betting Expert & Writer for SilentBet
I experienced every single deposit and withdrawal alternative that casinos have in stock. Some are better than the rest, and I will show you why.
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Debit and Credit Cards
It’s no surprise that cards are the go-to options for users. Despite some of the potential drawbacks of relying on these options, users seem to prefer them over everything else. There is nothing in using these options, but there are a few specifics you need to know. The first one is related to availability because many countries, such as the UK, have banned the usage of credit cards for gambling. In other words, you can’t rely on those things.
Another thing you should know is that some operators charge an additional fee for using your card. There are many reasons why companies add this fee, but users are the ones who have to pay.
Lastly, these casino payment gateways can also cause issues because the bank may refuse the payment. In this case, you won’t be able to do much, so you will have to choose another payment solution.
Bank transfer
This is the most archaic deposit solution that casinos have in stock. They are a solid choice for some people because they allow players to transact much larger amounts than usual. The bad news is that everything else related to this payment gateway is not that impressive.
For starters, the bank transactions are always slow. Instead of being instant, the process can take several days.
The next issue is the fees. They can be high, meaning that you should probably focus on something else unless you want to deposit very large amounts.
E-wallets
Even if you are not an expert in online casinos, you can tell that e-wallets are extremely popular. To be fair, there are many different e-wallets because PayPal, Neteller, Skrill, ecoPayz, and NeoSurf belong in this category.
Despite their many advantages, e-wallets have one big drawback that users need to remember, and that is related to bonuses. Since some of these options work slightly differently, it seems like casinos can’t optimize them to work with some of their bonuses. As a result, people who deposit with a specific e-wallet may not be able to get the promotion they want.
This problem is very annoying, so once you learn the tips and tricks about online casinos, it’s a good idea to see the T&C of the bonus you want to use. Fortunately, casinos will almost always state that clients should avoid certain e-wallets if they want to get a bonus. Users who do not care about the particular offer are free to choose whatever they want.
Katerina Gadzheva, Betting Expert & Writer for SilentBet
Skrill and Neteller are the two digital wallets that are usually affected by the exclusion. However, there might be even more options.
Cryptocurrencies
It’s no surprise that cryptocurrencies are among the hottest alternatives for payments in a casino. You can find them in numerous casinos, and some of them offer more than 20 different options. On top of that, there are operators that focus entirely on digital currencies and everything around them.
These payment options have several potential drawbacks that casino users must be aware of. The most common one is the potential to lose much more money because of the crypto’s volatility. You can’t do much about that, but you have to know that your losses may end up being 2x or even 10x more than you thought.
Another thing that cryptocurrency users rarely think of is that they can get scammed. Those who need to check if a casino is rigged can encounter many operators that only exist to scam their customers. After depositing with crypto, getting your transaction back is almost impossible, so research everything before choosing which payment solution to use.
Mobile transactions
Although transacting via mobile phone is not as popular as the other options, things are changing. Nowadays, you can find this deposit solution in certain parts of the world, but we expect to see it worldwide.
Besides the advantages of using mobile payment solutions, there are many a few key drawbacks. Perhaps the biggest one is the additional fees associated with each payment. Some mobile payment options do not have these things, but most are not like that.
Another issue about mobile transactions is that they are only available when making a deposit. It’s almost never possible to withdraw what you have won, which means everyone must choose different payment gateways for their withdrawals. This may be a problem for some people.
Katerina Gadzheva, Betting Expert & Writer for SilentBet
Nowadays, mobile payments are popular in Africa, but things will change in the future.
NFTs
The last payment solution that some online casinos have in stock is an NFT. This is probably the weirdest option on the list because NFTs are not a payment system or option. Instead, they are digital images with a certain value, and casinos are willing to accept them.
To be honest, there are not that many downsides related to using NFTs other than the fact that their value can increase in the future, and you may end up spending a fortune without knowing it. The real problem is finding a casino that will accept the NFT because most only have cryptocurrencies.
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