Best Online Casino Payment Options – 2021
In order to play your favourite online casino, you will need to deposit funds in your account before being able to play any game. There’s a large…
number of payment options nowadays, all you have to do is to choose the payment option you prefer, fill the necessary details and you are ready to go.
Not sure which online casino get your favourite payment option? Luckily our team reviewed the top UK online casino sites and indicate which payment options are available for each online casino.
In order to play your favourite online casino, you will need to deposit funds in your account before being able to play any game. There’s a large number of payment options nowadays, all you have to do is to choose the payment option you prefer, fill the necessary details and you are ready to go. Not sure which online casino get your favourite payment option? Luckily our team reviewed the top UK online casino sites and indicate which payment options are available for each online casino.
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An important update:
Since 14 April 2020, the Gambling Commission has banned the use of credit cards on online casinos. So, players who want to play at a UK regulated casino cannot do so with credit cards.
The ban will be valid for both online and offline gambling options, to try to prevent compulsive behaviour of gamblers which is known to use credit cards.
E-wallets are also valid for the new ban, so compulsive gamblers cannot deposit to their digital wallets using credit cards.
Online Casino Payment Options
With so many payment options, the simple task of funding your online casino account can be very hard.
As every payment option have its advantages and disadvantages, knowing the good and the bad of your payment option, can give you a different perspective and even make you change your thoughts regarding a specific choice.
Before we will review the most popular online casino payment options available today, let’s understand first how it all works.
Before you even make your first deposit, you first need to sign up with your favourite online casino site.
You’ll be required to fill details such as – first and last name, phone, email, address, and date of birth, once you’ve done creating your account, its time to make the deposit.
To play the games your online casino offers, you will need to deposit money first, unless you’re playing with Free No Deposit Bonus.
Normally, if there’s no such a bonus available, you’ll be requested by your online casino to choose one of the payment options available on their site.
Some online casinos have a great number of payment options while others, offering just fewer options.
You should always check if there are any limits on the chosen payment option that not suits you, make sure you know what the limits, so you won’t have any trouble doing the action you plan.
So, what about withdrawing money? Well, it mostly depends on the online casino you signed up with; usually, it takes them between two to seven days to transfer the money into your bank account.
It’s also important to look at which withdrawal options the chosen online casino offers.
Some will offer the option of withdrawing money through PayPal, directly to your bank account and even though Bitcoin or other cryptocurrencies.
Another essential thing to check is the withdrawal limit; some will offer a weekly limit of £3,000 while others will allow you to withdraw over £10,000 every week.
It can be very critical for players who play in large amounts or players who won a lot of money since it can take a long time to get the money into their bank account.
So, after learning the basics, let’s see what payment methods are popular among online casino users in the UK:
Perhaps the most popular and straightforward form of payment options available: Debit cards are the most popular payment method in the online world, and especially when it comes to online casinos in the UK.
This payment method doesn’t require any third-party registration; Players need to fill in the card details and personal information to fund their online casino account.
Important note: before using a debit card, make sure that the chosen online casino has a secure site sign (check the site’s URL, Https:/ means the site is secured while Http:/ isn’t safe).
At Dailycasinobonus.co.uk, we make sure that any online casino recommended on our site is fully secured.
Prepaid cards, unlike debit cards, are not connected to any bank account.
So how exactly do they work? Pretty simple – a person using this card must charge it in advance, once he used the money he loaded, he will be required to charge that card again for the next time he wants to use it.
Some of the most popular prepaid cards are Paysafecard, ecoCard, Neosurf, Neteller and Skrill.
One of the main reasons why people prefer using a prepaid card is they prefer to be anonymous.
As we mentioned above – prepaid cards are not linked to your bank account; In other words, the chosen online casino won’t have any personal details about you.
Another reason why people using a prepaid card is to set a limit for their gambling spending, unlike Debit Card (which linked to a bank account), the only funds that available for spending are the amount which you’ve changed in the prepaid card.
Electronic wallets are a form of payment option that gained momentum in recent years, and there is a good reason for that:
It’s the fastest deposit and withdrawal option as of today, transactions through e-wallet will pass in minutes (and likely to get approval in a matter of hours) which is much more quickly than in debit card.
But that’s not all! E-wallets has strong security as well, including encryption technology and password protection, so users can connect debit card and other different payment options in one place, knowing they have maximum protection on their information.
Some of the most known E-wallets are PayPal, Neteller, and ecoPayz.
Our team has collected the best bonuses of the top online casinos in the UK that offering an E-wallet deposit option.
As technology evolves, so does online casinos, and one of the things they emphasize is their payment options.
Digital currencies (cryptocurrencies) are the most advanced payment option in the world.
It’s such a new technology that at any given time, more and more new crypto coins are coming up with different solutions.
Online casinos have realized that the trend is growing in the cryptocurrency world and have developed payment methods through Bitcoin (the first and most popular digital currency in the world).
Bitcoin payment option is still new, and not every online casino accepts it, but more and more sites are joining the list that allows deposit via Bitcoin.
So why use Bitcoin in the first place when it comes to online casinos? Let’s talk about some of the advantages and disadvantages:
Anonymity, anonymity and once again anonymity
For those who want as much privacy as possible, Bitcoin is the most anonymous and secured option available in the world.
Users don’t need to add any personal information (no bank account, debit card, name or ID).
So, you can be confident that your details are confidential and there is no risk of leaking certain details that belong to you.
Deposit and withdraw money from Bitcoin, is free of fees, unlike when using E-wallets or debit cards which can cost you 1-3% charging fees.
Another big plus using Bitcoin when it comes to an online casino is that all the transactions players will make – will go instantly.
So users won’t need to wait a few days to get their deposits/withdrawals processed.
Okay, with so many benefits, what could be a disadvantage?
First – there are still relatively few online casinos that receive Bitcoin, so the options are quite limited.
Second is the need to open a digital wallet to store the Bitcoins before you can deposit Bitcoin to the online casino of your choice.
The last thing to note is – Bitcoin valuation:
Bitcoin’s value is very volatile and unstable like regular currencies, which can lead to sharp movements (devaluation and vice versa).
It’s time to play!
So, after understanding the basics of depositing and withdrawing money on online casinos, and learning about different types of payment options, it’s time to choose the payment option that suits you, and start playing the best online casinos available in the UK.
Frequently Asked Questions About Casino Payment Options
In general – it depends. Most online casinos limit the minimum deposit or withdrawal amount to £5.
In some cases, the amount will top up to £10. In exceptional cases, online casino sites will request from some deposit or withdrawal methods a minimum which starts at £15 up to £50, depends on the payment method.
Some of the fastest deposit methods are debit cards, bank cards, prepaid cards and e-wallets – these payment methods made instantly.
The slowest payment methods are wire transfer as the process take between one to five days.
In some cases, yes, but this is not quite common. Certain online casinos will exclude Skrill or Neteller deposits to be qualified to claim a welcome bonus.
As we mentioned above, in rare cases, these payment options may not be eligible for a welcome bonus, although free spins bonus or loyalty programs will apply to them too.
To avoid confusion, we always specify the terms and conditions of each casino bonus, to make it easy for you and quickly check each offer details.
Yes, in most cases, online casinos players are not forced to use the same payment method they have deposited.
However, some payment options like Prepaid cards or pay by phone bill – won’t be available for withdrawals. In that case, your online casino will require you to withdraw money in another way – usually through wire transfer or using an e-wallet.
In general, online casinos accepting more deposit methods, while withdrawal options are a bit more limited.
It depends, most online casinos won’t charge any fees; however, some payment methods like Bank transfer or Prepaid card will charge you a fee between £1-£5 on every transaction.
Important note: some online casinos offer its players several withdrawals per month with no fees.
Therefore, it is always important to check the terms and conditions of every online casino you are signing up with, to avoid unpleasant surprises.