Back in the 90s, when the first Internet-based bookmakers, casinos and poker rooms came into being, there used to be only limited banking options. People used to find it very hard to locate suitable providers for their needs, and it created a major financial obstacle for the online gambling industry as a whole.
Today, the number of payment methods offered by top-rated gambling websites is nothing short of staggering. In fact, people are so spoilt for choice that it can get confusing for them to find the most suitable option. Let’s acquaint you with some of the best ways you can pay at online gambling websites of today.
Bitcoin and other cryptocurrencies
Counted amongst the recent additions to payment/withdrawal mediums offered at online gambling portals, bitcoin and other cryptocurrencies became mainstream mainly after the 2017 boom. Nowadays it is extremely easy to find plenty of good quality bitcoin poker sites, bitcoin online casinos, bitcoin bingo platforms, bitcoin sportsbooks and more on the Internet. In fact, cryptocurrency is the only payment option capable of competing with e-wallets in terms of processing speed, with the additional benefit that they are not subjected to any promotions and bonuses related restrictions. It’s not without a reason that cryptocurrencies are being widely termed as the currencies of the future.
Debit and credit cards
Debit and credit cards like MasterCard, Maestro and Visa continue to be the most popular payment mediums in the online gambling industry. Although cryptocurrencies are catching up fast because of their various benefits, it will still take some time for them to completely replace these conventional options. Debit and credit cards have been extremely reliable banking methods for a very long time.
The primary advantages offered by these cards is their global acceptance, security and minimum fees. Almost every online gambling portal accepts both these payment mediums for deposits and withdrawals. The only big downside in their case is the waiting time involved for the pay outs. You will need to wait at least for 5 to 7 working days, sometimes even longer for your money to arrive. And that’s the reason why debit and credit cards are not favoured by players who frequent different gambling platforms, and like their money to be moved quickly between them. If at all you use them, try using credit cards instead of debit cards as they come with multiple security-related benefits.
e-Wallets are known to deliver in all the areas where debit and credit cards fail. Brands like Neteller, Skrill and PayPal have become commonplace in the online world today, and are extremely popular at online gambling portals. There are other big regional players involved in their respective countries too. However, not every country has a feasible legal framework to allow usage of e-Wallets for online gambling activities. For instance, there are no such e-Wallets in play in the US. In addition, you can’t benefit from major online gambling promotions if you use e-Wallet as your preferred payment method.