From Cards to Crypto: How to Fund and Withdraw from Your Casino Account
You may play for real money, fill your gaming account, and, if you’re lucky, cash out your winnings using the different payment methods offered by online casinos.
This is an important topic to investigate because it’s easy to become confused with casino payments. Even if you don’t play very often, there are plenty of options for “to” and “from” funding your online casino account.
Payment Options for Casinos: What They Do
When online casinos first started popping up on the Internet, the main problem for suppliers was getting people to spend money. But suppose a slot machine or roulette enthusiast wanted to play these games online for real cash.
Think about it: this happened over 25 years ago, when no one had ever heard of a credit card, and online payment systems like PayPal and Skrill were still in their infancy.
The number of pay-to-play sites increased staggeringly from fifteen in 1996 to two hundred in 2017. Research conducted in 1998 found that internet gambling brought in $834 million.
What are the best practices for making an online casino deposit?
But let’s go back to the beginning and determine the most common methods for funding and releasing funds from online casinos. Here, we are discussing the process of making a deposit. After all, winning real money isn’t possible if you play for amusement.
Where do I start when I want to know how to fund my account at an online casino? While the exact details differ from one gambling hall to another in terms of decor, menu, and procedure, we may summarize the main points as follows:
- Go to your game account
- Among the settings, look for the one for managing your account
- You will find the option to deposit: click on it
- Various choices will open up for you: click on your preferred payment method.
- Complete the operation by entering the amount you want to deposit, respecting the operator’s limits.
- Wait for the email confirmation of your deposit.
Additionally, deposits are often processed far more quickly than withdrawals due to the reduced number of checks required. Withdrawals, however, are subject to legal requirements that the room verifies your identity before releasing the funds.
How to seek a withdrawal from a virtual gambling establishment
The opposite way is the retreat path. Withdrawing money from an online casino gaming account is as simple as repeating the procedures in the previous paragraph, except that in step three, you’ll need to choose the withdrawal options instead of the deposit ones. You will be asked to confirm the successful completion of the transaction again.
In case you’re interested in bonuses, be sure to check out the 7bit casino no deposit bonus codes for existing players. When you’re filling up your account, they could be a huge help. Additional documentation may be necessary in some instances to comply with legal requirements and safeguard your account against fraud and identity theft.
The most popular methods of making payments and receiving funds
Even though there is a plethora of alternatives available to you, not every online casino will take all of them to finance your gaming account. The variety of deposit options provided by an excellent online casino is an important feature. In any case, the available deposit methods are:
Credit or debit card
- Electronic wallet
- Prepaid cards
- Wire transfer or check
- Pay by phone
- Electronic currency
- Crypto
These methods may be studied independently.
Using a credit or debit card
You may use your credit or debit card at any online casino. Unlike the latter, which is linked to an account and allows for instant withdrawals, the former is unrelated to any bank or postal account and costs after the transaction. All of the online gambling establishments that accept a variety of payment methods are part of these networks:
Mastercard
Established in 1966, Mastercard is a US-based multinational financial services firm. More than half a century ago, it began accepting various types of payment cards. Since the beginning of the online casino industry, its cards have naturally been among the most popular.
Visa
Visa has been in the business of facilitating international prepaid, credit, and debit card electronic funds transfers for decades. Online casino gamers love using these cards since they are convenient and secure, much like Mastercard.
Electron Visa
Among the many products offered by Visa is the Visa Electron debit card. All countries, including the US, Canada, and Australia, are part of its worldwide operations. If there isn’t enough money on the card to cover the purchase, the transaction will be cancelled since you can’t be “overdrawn.”
American Express
American Express, founded in 1850 and headquartered in Manhattan, is a global provider of financial services. As the name suggests, the United States is its primary user base. In 2017, Forbes ranked the brand 23rd most valuable.
Since its inception in 1991, Maestro has been a leading provider of debit and prepaid cards via its affiliation with Mastercard. In contrast to prepaid cards, debit cards are associated with a bank account. Online casino gamers often use Maestro cards at point-of-sale terminals and ATMs.
Virtual wallet
The convenience and security of electronic wallets have made them a top choice for many customers. Digital wallets act as intermediaries, allowing users to link their debit cards, bank accounts, or postal accounts. The most popular electronic wallets are:
PayPal
Launched in December 1998, PayPal has quickly become the most popular electronic wallet globally. It allows for electronic money transfers rather than the more traditional methods of sending money via wires or checks. Among the various business goals pursued by the company is providing help to online sellers, such as casinos.
Skrill
One of several online payment and money transfer choices is Skrill, formerly known as Moneybookers. This electronic wallet first appeared in 2001. Skrill support for 40 different currencies and 120+ countries has grown over the years. Many payment methods are accepted by Skrill.
Paysafecard
One option for online payments is the Paysafecard voucher. There is a 16-digit PIN on these coupons, and it is not associated with any financial or personal data in any way. Vouchers are available at many stores and may be redeemed online, even at casinos (just enter the code when you check out).
Neteller
Many businesses, including online casinos, utilize Neteller to send and receive money. Withdrawals may be made to Net+ cards or bank accounts.
Prepaid card
Like a debit or credit card, a prepaid card doesn’t tie you into a bank account and doesn’t have a restriction on how much you may spend. To utilize them, you have to replenish them. Among prepaid cards, PostePay is by far the most used. Skrill is one of the online wallets that offers prepaid cards.
Caution: Withdrawals from certain online casinos may not be possible using prepaid cards.
Check/wire transfer
These days, who uses a bank transfer or a check to fund their online casino account? Although online gambling establishments seldom send checks home, this method of payment has remained! The fastest way to withdraw funds is via wire transfer, but isn’t the existing arrangement better? It might take up to a week.
Payments made using mobile devices
You may fund your gaming account with the convenience of paying by phone by using your mobile phone. This technology holds a lot of promise. More people are using Apple Pay to play casino games on an iPhone.
Digital currency, or Bitcoin
The new payment method known as electronic cash, or e-money, employs virtual currency. Ethereum is only one of several, with Bitcoin being the most well-known.
