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Best Online Casino Banking Methods

By Jim Beviglia Published: Updated:

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The rise in popularity of online gambling shows no signs of stopping anytime soon. You might be one of the folks considering getting involved and could be wondering how payment works. We’re here to help you out with an in-depth overview of how banking works at top gambling sites.

Novice gamblers often overlook the importance of the banking process when considering whether to begin online betting and choosing which sites they want to use. But since getting paid is the ultimate goal of online gambling, you need to know the whole setup of withdrawals and deposits. Lucky for you that we’ve got you covered with an explanation and exploration of online gambling methods.

Important Qualities of Online Gambling Banking Methods

When you check out any gambling site on the internet, you’re likely to see a part of the menu that says something like “Cashier” or “Deposit” or even just “Banking.” That’s where the site will tell you what options they’ll provide you for depositing and withdrawing money. After all, it’s not like you can simply hand over cash to a website like you could at a land-based casino.

What should you be seeking, not just from the banking methods, but from the sites themselves? We suggest that you start with the following qualities.

  • Quick payments: Part of this comes from the gambling site, as they need to be quick about processing your requests for withdrawals. And the other part is the method that you choose to get paid, because some options are much faster than others.
  • Low fees: Again, this comes on both ends. Some gambling sites tack on methods for processing your withdrawals, while others do no such thing. And you can use certain payment methods without having to add a little extra, while others might cost you (think about interest on credit cards as one example.)
  • Safety: It’s important to consider safety when thinking about banking at top gambling sites. You’ll have to surrender crucial information to deposit money, such as credit cards numbers or cryptocurrency keys. If you yield that data at a site you can’t trust, you could put yourself in financial jeopardy.
  • Convenience: In terms of online gambling banking, convenience could come from the ease (or lack thereof) with which you’re able to deposit and withdraw due to the site’s interface. Convenience might also simply mean availability, as not all banking methods are available at each and every gambling site.

Types of Online Gambling Payment and Deposit Methods

Let’s break down the different ways that sites allow you to both fund your account and get paid when you win money. Each of these methods contain their own sets of advantages and disadvantages. What you choose might come from your own personal preferences or simply from what you have at hand and what the site allows.

Credit Cards/Debit Cards

People used to online shopping might feel most comfortable with this method. They’re easy to use in that respect, as you just need to enter the numbers on your card when you’re on the site’s banking page.

Main Types:

  • Visa
  • MasterCard
  • Discover
  • American Express

PROS

  • As we mentioned above, there’s a familiarity factor with using credit and debit cards that people might enjoy. In addition, it’s rare to find a site that doesn’t accept these cards as payment. Since most adults have some sort of credit or debit cards in their possession, it’s a good fit.

Cons

  • If you’re not paying credit cards monthly, you might have to deal with interest fees. Those fees can lessen the impact of any winnings you might get. In addition, you might find that some credit and debit cards won’t allow their funds to be used for online gambling sites because of legal restrictions in certain areas.

E-Wallets

E-Wallets have experienced a boom in recent years as people look for more convenient ways to pay for things online. That’s allowed them to make a smooth transition into the world of online gambling.

Main Types:

  • PayPal
  • Skrill
  • Venmo

PROS

  • You can connect E-Wallets to your bank accounts, and they’ll make payments to your gambling site with ease. The process is smooth and secure, and many people use E-wallets like PayPal in their everyday lives, so there’s a familiarity factor there.

Cons

  • You’re adding another party to your online gambling exploits to make them happen. That means less privacy. In addition, many gambling sites are a bit light on their options for E-wallet payments.

Checks

PROS

  • This is an old-fashioned way to do things, but that’s what many people like about it. As a method of withdrawal, checks can be then deposited into your bank account at your leisure, giving you an extra layer of control.

Cons

  • You won’t get your payback nearly as quick with checks as with some of the other methods available. In addition, many sites will add a fee on their end to process your payment via checks.

Bank/Wire Transfer

PROS

  • You don’t have to sign up for another service, such as an E-Wallet, to make this work. Most people have bank accounts. As a result, all you need to do is enter the information from your account, and you’ll be all set to process.

Cons

  • Processing times for payment are slower than with most other banking methods. And there’s a distinct possibility that your bank will balk and having anything to do with online gambling.

Cryptocurrency

Main Types:

  • Bitcoin
  • Litecoin
  • Bitcoin Cash
  • Ethereum

PROS

  • Processing times with digital coins are extremely quick. It’s extremely rare that a gambling site will tack on any fees, because they generally want to be in the crypto business. And there is no third party involved in the transaction, giving you the ultimate privacy.

Cons

  • The value of crypto coins tends to be volatile, which means that you’ll have a hard time pinning down how much you’re giving and getting to the site. Many people who are fearful of technology don’t like getting involved in crypto.

How Do You Pay for Online Gambling?

The process for making payments into your gambling account only requires a few easy steps. Once you’ve done it a few times, you’ll realize that you can do it without putting too much thought into it. Here are the main steps you have to take:

  1. Choose a gambling site. We suggest that you choose from one of the sites that we regard as the best and safest for online gambling.
  2. Sign up for an account. This usually requires just some simple information, such as your name, address, email address, and age. You might also need to verify your account via email or text.
  3. Choose your method of payment. The site will give you choices on its banking page. Click on the method you’d like to use.
  4. Enter the necessary information. This information depends on the method that you choose. For example, it could be a credit card or debit card number, or your bank account number for a bank transfer, or a cryptocurrency key code for crypto deposits.
  5. Choose the amount you want to deposit. Keep in mind that there will likely be minimum and maximum amounts set by the site you’re using, depending on what method you chooe.
  6. Remember to activate any bonuses you might have coming to you. You’ll usually find these indicated to you during the signup process.
  7. Initiate the deposit. You’ll just click on the link that finalizes the process.
  8. Withdraw money. When you reach a point where you want to withdraw some money, simply follow the process indicated by the site. Keep in mind that the first time you’ll withdraw, you’ll likely have to complete verification steps so that the site knows it’s you and now someone pretending to be you.

Withdrawal and Deposit Methods of the Top Gambling Sites

To give you an indication of how the best gambling sites operate, check out the banking methods that are included for each.

Operator Deposits Withdrawals Review Visit Site
Wild Casino MasterCard, Visa, American Express, Discover, Person2Person, Money Order, Bank/Wire Transfer, Check, Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Tether, several other cryptocurrency coins Person2Person, Money Order, Bank/Wire Transfer, Check, Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Tether, several other cryptocurrency coins Wild Casino Review Visit Wild Casino
Ducky Luck MasterCard, Visa, American Express, Discover, Interac e-Transfer, Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Tether Wire Transfer, Interac e-Transfer, Check, Bitcoin Ducky Luck Review Visit Ducky Luck
Bovada MasterCard, Visa, American Express, Bitcoin, Bitcoin Cash, Ethereum, Bitcoin SV, Litecoin, Tether Check, Bank Transfer, Vouchers, MasterCard, Visa, American Express, Bitcoin, Bitcoin Cash, Ethereum, Bitcoin SV, Litecoin, Tether Bovada Review Visit Bovada
Slotsandcasino MasterCard, Visa, American Express, Discover, Interac e-Transfer, Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Tether Wire Transfer, Interac e-Transfer, Check, Bitcoin Slotsandcasino Review Visit Slotsandcasino
Ignition MasterCard, Visa, American Express, Bitcoin, Litecoin, Ethereum, Tether, Vouchers Check, Wire Transfer, Voucher, Bitcoin, Bitcoin Cash Ignition Casino Review Visit Ignition Casino

Tips for Banking at Top Gambling Sites

  • Remember to check the limits on the high and low end for any method of banking that you choose. This could play into which method you choose and, if these methods are too strict, you might even consider choosing a different site.
  • Be wary of any site that doesn’t make their banking methods clear somewhere on their website. It could be an indication of either a poorly-run site, or perhaps the site is purposely trying to hide something.
  • Always read the terms and conditions whenever possible as it relates to banking. While this might seem like a dry task, it can be helpful in finding out banking information that might be important to your online gambling practices.
  • Choose the amounts of your deposits and withdrawals wisely. If you’re not depositing enough or if you’re withdrawing too much, you might not have enough in your account to make the bets that you want to make.
  • Remember to gamble responsibly. Don’t get caught up depositing too much into your account to the point where it makes it difficult to pay for necessities in your life. Keeping the amount in your account at a reasonable level will also prevent you from betting ore than you can afford.

Casino Banking Methods FAQ

Jim Beviglia
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About Jim Beviglia
Jim Beviglia has been a gambling writer at LegitGamblingSites.com since 2018. During that time, he’s written just about every type of article related to gambling, including reviews of betting sites, guides to popular casino games, betting tips on both casino and sports betting, sports and casino blog posts, and game picks. In addition to online gambling, one of Jim’s other major interests is music. He has been doing freelance work for various music sites and magazines for two decades. Among his outlets past and present are American Songwriter, VinylMePlease, Treble, and The Bluegrass Situation. Jim has also written five books on music that were published by Rowman & Littlefield.
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