Whether you plan to become a sports bettor or play slots during the weekends, there’s a strong chance you hope to win money. Maybe you’re even dreaming of the day you hit a large jackpot.
Regardless, you will need a reliable payment method to withdraw your money. What are the best banking options for casino payments?
Skrill
Established in 2001, Skrill is one of the most popular casino payment methods. It operates in 131 countries and supports over 40 currencies, including the US dollar, the euro, GBP and Australian dollars.
Gambling companies love Skrill. And it is easy to see why. For starters, Skrill has been facilitating payments to casinos and sports betting sites longer than most of its competitors. In fact, Skrill used to work with casinos back when other payment providers avoided the industry.
Should you use Skrill for gambling payments in 2023? It's a safe, mobile-friendly payment method. It processes money fast and at a low cost. What's more, you can withdraw up to $10,000.
So, yes. Find a safe casino with Skrill as a supported payment method and use it to deposit money. Look for a site that gives out bonuses when you use Skrill. Also, check for other important features like a casino's game library and reputation.
PayPal
PayPal needs no introduction. It’s arguably the largest e-wallet in the world. It has more than 400 million customers, works in 200+ countries and supports over a dozen languages.
Like Skrill, PayPal works with safe betting sites. It won’t partner with a casino unless it’s safe and genuine. That being said, not every gambling site works with PayPal. Some casinos prefer to work with other payment providers.
That's alright, though. If you love PayPal, you won't struggle to find a good PayPal casino or betting site. What's more, you'll probably love your experience. Here's why.
PayPal is safe—it encrypts your data and uses OneTouch technology to keep your information safe from betting sites. Additionally, this company processes payouts fast. It has low fees and allows you to withdraw up to $10,000 from casinos.
There are more reasons to use PayPal for casino payments. For example, it has a chargeback feature that lets you ask for a refund in case you encounter a scam site. Also, most betting sites give out bonuses to PayPal users.
Neteller
Neteller launched in 1999 with a focus on the online gambling industry. In less than two years, Neteller was handling payments for 85% of all iGaming businesses.
This market dominance later dwindled down after the company exited the US market. But it did not stop Neteller from working with betting sites. To date, Neteller is one of the major payment providers for casinos.
Because it’s owned by Paysafe—the same company that owns Skrill—there’s not a major difference between these e-wallets. You can fund your account through wire transfer or MasterCard. And you can withdraw up to $10,000 from gambling sites.
Google Pay
If you’re looking for a safe and trustworthy payment method, you won’t go wrong with Google Pay. It’s a relatively new payment option, but it’s a good alternative to PayPal and Neteller.
It uses SSL to encrypt data. It offers password protection and Two-FA. What’s more, Google works with regulators to ensure your financial data is safe. That being said, this company works in a handful of countries only.
You can use Google Pay in the US, Canada, the UK, India, Australia, Singapore and a few more countries. But that’s it. In most countries, it's tough to find a casino that works with Google Pay. Then there's the issue of limits—you can't withdraw more than $10,000.
Visa/MasterCard
If you like to use credit/debit cards for online payments, ensure you have Visa or MasterCard. Almost every gambling site supports Visa and MasterCard. Some of them also work with Discover and Maestro.
Is there a difference between the cards? In most cases, no. You get the same limits ($10 to $10,000) whether you use Visa or MasterCard. Also, the cards have similar payment speeds: one to three days.
Both Visa and MasterCard are safe. The only reason you may want to avoid them is if you’re looking for quicker payment companies. In that case, PayPal or Skrill would be better options.
Bank Transfer
Banks take up to a week to process payouts from online casinos. So, why choose wire transfer when you can withdraw through Skrill and receive your money within 24 hours?
High payment limits. If you ever win more than $10,000 from a gambling site, a bank transfer will be your best option. Banks can process billions of dollars, often at reasonable fees. Banks are also safe. All you need is to provide the correct details.
Although some casinos ask you to use the same payment company for both deposits and withdrawals, they have an exception for wire transfers. Let's say you use PayPal for deposits and withdrawals. Then you win $100,000. You can select bank transfer as your chosen payment option.
Crypto
Crypto might have crashed in 2022. But it’s back in the headlines. Bitcoin is regaining its price value and so are altcoins like Ethereum, Litecoin and Cardano. If you love crypto, look for a bitcoin betting site.
You will likely qualify for the biggest bonus you’ve ever received from a betting site. Picture this. Crypto gambling sites give you up to 5Bbtc. The only catch is that this is a deposit-based bonus. If you deposit 1BTC, you receive an extra 1BTC as a bonus.
Beyond generous bonuses, crypto is a borderless payment method. You can use BTC in any country. Also, it has low fees, it's safe and supports large limits. In other words, it offers the best of wire transfers and e-wallets.
Your Turn
Gambling sites support a wide variety of payment methods, from crypto to e-wallets. There’s no wrong payment method. It all depends on what you really want.
If you want a fast payment company, pick a digital wallet or crypto. If you want a company that can process high amounts of money, crypto and wire transfer are excellent choices.
