Online payment methods are the bread and butter of every online casino today because they are the only means of existence. If you can’t deposit or withdraw money immediately, then these businesses can’t function. Using checks or bank transfers or even credit cards has a lot of problems with scams and frauds. So, the safety of third-party payment methods whether digital wallets or cryptocurrency has made online casinos rapidly spread across the globe in 2022.
eWallets: Skrill/Neteller/Etc
One of the most popular and safe options out there in 2022 is eWallets. These digital wallets have changed the way banking occurs at the forefront. Because users now do not need to contact the bank or their website, they always deal directly with the eWallet company, which in turn deals with the bank. So, with just a click you can send and receive money online from anywhere across the world. The commission of these transactions is very minimal.
Just one issue is that not all eWallets will accept withdrawals from online casinos. It is soon projected that in a few years eWallets will become the default method for online payments across the globe. It has a processing time of under 24 hours to receive money while the transfers are instant.
The only downside is that you have to give a transaction fee to the eWallet company. But they are very minimal and are compensated by casino bonuses most of the time. Some of the best eWallets are Skrill, Neteller, Paysafe, and EcoPayz because they are available with thousands of online casinos today. Most online casino groups from the UK and Europe accept this. If you play at one of Grand Battery Holdings Limited casinos, or casinos from Malta, or even Curacao, chances are that they accept these eWallets.
Crypto-Bitcoin/Ethereum/Etc
The digital currency revolution is creating new currencies and mining more and more to earn them. Since Bitcoin started, many others have joined this trend making Dogecoin, Litecoin, Ethereum, and dozens of others. While just 10 percent of online casinos accept this in 2022, they are quietly growing. Cryptocurrencies are useful for both deposits and withdrawals and are the safest and most reliable means to send and receive money online. The security offered by these cryptocurrencies has allowed them to spread like a wildfire.
Direct Bank Transfers
If you are old school and want to keep safety as the first criterion, direct bank transfers are the best for you. This is because you don’t have to share your banking information with any third party for making payments and receiving money. Also known as Wire Transfers, these are supported by almost all online casinos and many other businesses online. It takes time because the money is processed once or twice a week. Sometimes, you might have to use additional steps like enabling overseas money transfers with your bank account. Unless your bank is a local bank that works only in your state or country, most banks can send and receive money from any country.
But the biggest problem is that they are not always user-friendly. You might have to wait for a long time to contact the bank, wait for initiating a transfer, and wait for the transaction to process. Online gambling operators also need a lot of time to confirm and publish the transaction. The wire transfer fees are also quite high, so businesses try to use this as the last resort.
Internet Banking
Online banking involves a lot of things such as using debit cards, credit cards, and casino bank accounts to make instant online transfers. In this case, you don’t have to add the recipient as a new payee, wait for the bank to add them to your list and initiate payments. Trustly is the current world leader in making a peer-to-peer online casino payment system and it is better than common wire transfers. Because in Trustly, you do not need to contact the bank directly, where servers may be down or busy, it makes it safer. Trustly keeps the bank information and completes the transaction for you instantly. Currently, you will find that most online casinos accept Trustly for deposits only.
PayPal
Using an email address for making and receiving payments is still one of the popular methods in 2022. There are hundreds of online casinos, especially reputed brands that offer this payment method. It is one of the safest ways to bank online, overseas, and international transfers without worrying about your card information being leaked or used for fraudulent activities. Because of this, PayPal casinos are still around as online payment methods for fast deposits and withdrawals.
Final Thoughts
While payment methods have benefits and shortcomings, some are safer than others. Because of this, online casinos and any other online business stick to safe methods only. Flexibility, anonymity, ease of use, reliability, and privacy are many factors that make them safe for the user.
