If you are thinking of playing in an online casino, you have to understand that there is real money involved in doing so. Thus, you have to have the means to send and receive money to and from your online casino account. This is where the importance of a good payout and payment method comes in.
While it is important to learn how to choose the best online casinos, it is equally important to know the best online casino payouts. With that in mind, here are the best payment methods to use in an online casino.
Credit or debit card
A debit or a credit card is the most common method of payment or payout that someone who plays in an online casino may choose. This is because almost everybody has either a credit card, a debit card, or sometimes even both. If you have both types of cards, then it can be easier for you to pull out money to spend in an online casino.
Another good thing about using a credit card is that you can technically “borrow” money from your bank using it. This is because the way a credit card works is that you can make a purchase up to a certain limit set by your bank. Then, you can pay those purchases you made after a certain period of time, usually within one month of a billing cycle. Be careful though, as you are technically gambling using borrowed money–it can be very risky!
Direct bank transfer
Direct bank transfer is another one of the most popular payment and withdrawal methods used in an online casino. What makes using direct bank transfer very convenient is that once you have given your bank details to your bookmaker or the online casino provider, you are usually not asked for it ever again. Once the casino had your information saved, all outgoing and incoming transactions can be done with ease already.
Direct bank transfer is also used by high-rollers as there is no limit on how much they can get in and out of their bank account, unlike credit cards that are restricted depending on the spending or credit limit that the card has.
However, one downside of using a direct bank transfer as your form of payment and withdrawal for an online casino is that sometimes, transactions may take time to get through. This is a fact, especially for withdrawals. Usually, if you use a direct bank transfer to withdraw your money, there is a processing period of 2-3 business days or sometimes, even a week.
E-money wallets
E-money wallets are online accounts that you have with online financial institutions that you can use for spending online, including in an online casino. What makes e-money wallets unique from using a debit card, credit card, or even direct bank transfer deposit is that you can keep your personal card or banking details hidden and still continue to pay and get paid.
This is because of e-money wallets work by only using other information to facilitate transactions. For example, if you pay through an e-money wallet like PayPal, all you need to provide is your PayPal email. You don’t need to input your credit card details or your bank account information anymore.
It also works the same with withdrawals. If you are using an e-money wallet, all you need in order to receive money is usually the email address associated with your wallet. You can then move your money from your e-money wallet to your bank account after you receive it.
