Millions of people around the world are choosing to play at online casinos nowadays, and it’s certainly understandable due to the conveniences they offer and the relaxing of legislation in parts of North America and beyond.
We won’t go into the tired debate of online versus land-based casinos, as both certainly have their advantages and disadvantages. However, it is interesting to explore what makes us choose a particular online casino. Perhaps it’s an advert we see online? Maybe it has some connection with a casino resort we visited? Much of the time it’s the sign-up bonus offer that gets us through the virtual door.
And yet, one would argue that players tend to overlook a critical issue – payment methods. Having a good range on offer is vital for convenience, sure, but also for your security and for getting value for money.
Cards are going out of fashion
Most online casinos will have the option of depositing by credit and debit cards, but these methods are going out of fashion quickly. But increasingly we are seeing other methods added to casinos’ cashiers, and the best operators are aware that going beyond the standard offering is good business. Players, especially pros, want fast and secure options to move their money.
But security should be your top priority; and, while online casinos operate under the strictest levels of encryption and firewall protection (as part of their licensing agreement), people tend to worry about inputting financial data online. They hear the horror stories – an estimated 1 in 10 people have fallen victim to online fraud – and it makes them question whether they should use their cards and bank details.
Of course, a top casino will offer alternatives where you don’t need to enter any financial data. For example, you can see this with the iDebit withdrawals at casino.com or the popularity of payment vouchers like Paysafecard. With the former, you are using a trusted intermediary to take care of the transaction, so your banking details don’t get involved. With the latter, Paysafecard, it’s a matter of entering a code from a pre-paid voucher usually paid for with cash. Although Paysafecard does run into issues when used for withdrawals, i.e. you will need to withdraw to a specialist account or input your card details.
Always read the terms around promotions
We shouldn’t forget the internet wallets, of course. The likes of Skrill, PayPal, Neteller and a bunch of other e-wallets have transformed the way you pay for things online, and, in most cases, added an extra layer of security to your purposes. However, you should always double-check that your chosen casino does not exempt internet wallets from any bonuses and promotions, as some do from time to time.
In all this talk of payment methods, there is one issue hanging over the entire industry – cryptocurrency. It’s a difficult one for reputable online casinos to manage because regulatory bodies are not exactly fans of payment methods like Bitcoin, mainly due to the fact there isn’t the same amount of transparency in terms of money laundering and fraud. As such, most of the leading licensing bodies around the globe do not allow cryptocurrency payments at casinos.
In the end, a varied choice of payment methods is critical in making a good online casino a great one. But you should also take the time to consider which method is best for you. Is speed of withdrawal your priority? Or is security the critical issue? If you do join a new online casino; make sure the options are available so that you can choose the best method for you.