UNITED STATES—People have been interested in gambling since the concept was invented. Something about it is just intrinsic to human nature, but the internet has really supercharged its popularity.
That is because it is able to provide casino gambling in a format that is convenient. Once someone has created a casino account, they can just log in and start to play.
This has made online casinos a big hit and led to hundreds being set up. They are a mix of licensed ones and much more dubious sites, but thankfully there are ways to tell the difference.
For example, this site has published a review of the Jackpot City casino and others like it, examining everything from their games choice to the methods of payment they offer. That latter issue is crucial, because it also relates to data security.
In this article, we will outline the main payment methods and their pros and cons.
Bank Transfer
This is a fairly common payment method at casino sites, and it involves the straightforward movement of money between your casino and bank accounts. It is popular because it is a very quick way of depositing the money needed to play the games in a casino account, letting people get started more or less immediately.
Equally, it means that any winnings from a casino gaming session can be in your bank account almost as fast. However there are downsides to bank transfers too.
For one, they mean providing a lot of financial and personal information to the casino site. That is fine as long as you check that it has a license from a body like the Malta Gaming Authority and SSL encryption software, but it still leaves some risk of cyber-crime.
Another downside to using bank transfers is that most banks charge a fee for carrying out the transaction. Overall it is a decent and secure payment method as long as the casino is safe though.
PayPal
PayPal is an e-wallet and it is used by roughly 200 million people globally. The biggest reason why it has built up such a large user base is that it takes the data security of its clients extremely seriously.
The vast majority of licensed online casinos accept deposits and withdrawals via PayPal now, so you should have no problems if you choose it. Another advantage of PayPal is that using means you will not have to share bank details with the casino site – they will be securely stored on your PayPal account. That is because e-wallets of this kind act as a financial ‘middleman’.
One negative aspect of PayPal is the hefty fees it charges for international transactions, but in most cases it will still be an excellent payment method to pick.
Debit Cards
The two most frequently used debit cards for casino payments are MasterCard and Visa. Making payments in this way is very popular and with good reason – it is probably the single most secure payment method available.
Using a debit card of this sort to carry out payments is very secure because banks deploy encryption software for all incoming and outgoing transactions. It is also a method that is on offer at virtually all online casinos, which is another big point in its favor.
Finally, using a debit card is quick and payments can be made without incurring any additional charges. The main drawback to using debit cards is that some restrictions can be imposed based on what country the casino site is located in.
Credit Cards
Most casinos will let people make payments on a credit card and it is another method that is very quick, but it may not be available much longer. There is talk of banning them and another big downside to using credit cards is that it makes building up debt easier.
Crypto currencies
These digital currencies have definite advantages as a casino payment method. For one thing, crypto transactions can be carried out without the need for any personal or bank information to be shared.
That makes them a very secure method. The transfers are extremely rapid too and there are usually no transaction fees involved. It is not all positives when it comes to crypto payments though.
The lack of any regulatory oversight of the crypto markets should be a big concern. It means that if something goes wrong with your casino payment, there will be no authority that you can turn to for recompense. You will be relying on the casino to refund any lost money.
At the moment, the minority of casinos that accept crypto payments are not usually the big, licensed ones, so that is taking a serious risk.
Each of these methods has its benefits and drawbacks, but PayPal and debit cards are probably the safest.
