5 Ways to Choose Your Best Payment Method for Online Casinos
Most online casinos are safe, legal, and secure. One of their ways to establish their reputation is to provide the best and fastest payment method for its players. Here are five ways to choose the best payment method for your online casino gambling.
Available Payment Methods
Online casinos often offer multiple payment methods for online gamblers. You can choose traditional methods or eWallets such as PayPal. Although these payment methods are available with casino sites, the applicability may vary from one country to another.
Cryptocurrency is also becoming popular among the newly developed casino sites. The convenience and anonymity are some of the reasons people prefer this kind of payment method.
When a country is part of the restricted areas, the payment method follows. Sometimes, you can still create an account with a casino and play, but you can't use specific payment methods.
So, choose the payment method that is available in your area, which the casino accepts as valid.
Gambling Legality in Your Area
In some countries, the government prohibits online gambling, and online casino is part of that prohibition. There's no precise regulation governing online casino on restricted countries.
But, to be on the safe side, most casinos prohibit access to their site. Some put restrictions on their policy statement.
So, always check the list of countries where residents can’t gamble online.
Depositing money often takes only less than five minutes to complete. It's the payout that's more important. Fast payout of your winning shouldn't take longer than necessary.
Most casinos offer hours up to days to complete the payout transactions, depending on the payment mode you chose. E-wallets often take within a few hours or at the most a day to complete. Visa, Mastercard, and other conventional methods may take days to complete.
So, if you want faster transactions, choose e-Wallets or other digital currencies. If you don't mind waiting for a few days and are more comfortable with conventional means, opt for Visa, Mastercard, or other bank transfers.
Requirements and Service Fee
Some casinos require you to submit necessary documents when you choose your payment mode. Often, you need to provide proof of identification when you exceed the allowed limit for withdrawal.
As to the service fee, it depends on the payment method you choose. Some casinos charge a service fee for deposits and withdrawals, on top of the service fee from your preferred method.
So, it’s best to choose the payment method that has the lowest service fee.
This criterion particularly applies to withdrawal amounts. Some casinos put a limit on the amount withdrawn.
Most of the time, you need to complete a wagering requirement, especially if the amount you use is the casino bonus. Some casinos will allow you to withdraw a maximum amount of winning even if you don't make any deposit.
So, select the payment method that has the highest amount of withdrawal limit without any additional requirements on proof of identity.
The best payment method for online casinos should be convenient to use. So, stick to a payment method you're comfortable using. Also, remember that some casinos don't credit welcome bonuses or any other kind of casino bonuses if you deposit through disqualified payment channels.