Why we recommend to use e-wallets? Check this article out and let us know what you think!
Online casinos have come a long way since the 90s, growing side by side with other branches of technology in order to keep up and meet the demands imposed by the general progress and payment trends evolution.
Today, the online casinos are rated using a number of different criteria that can make or break them. Particular attention is paid to casinos’ banking methods and the options provided for payment submissions and withdrawals. Whether or not a transaction will run smoothly can in some cases depend on several external factors, including the player himself.
Credit Card pros and cons
There was a time, however, where cards were practically the only available instruments one could use for online gambling related money transfers. VISA Debit / Credit cards and Mastercard deposits are still the most popular way to fund your casino account, but nowadays they are far from being the ideal solution.
There are two major issues one can encounter when using cards for online gambling: process time and safety.
Even with the largest and most popular online casinos with short processing time, using cards can unnecessary prolong the transfer and delay the payments.
Instead of having the money at your disposal within only a few hours or minutes, you may find yourself waiting for at least 1 or 2 days, depending on your bank’s efficiency and safety guidelines. In addition to that, gambling regulations of your country of residence may authorize the bank to decline these type of transactions, even if there are no strict laws against gambling.
Preserving your anonymity
Another critical issue is preserving your anonymity. Paying with credit card will require the users to disclose additional information and leave their comfort zone – a notion that can be distressing.
You are likely to play in more than just one casino and use the benefits of a number of online stores – all of which will preserve your credit card information. To avoid this and simplify the entire process, the best solution by far would be directing all of your monetary transactions to and from one single eWallet account that protects your safety and identity, keeping all your sensitive banking details in one place.
Which e-wallets can be used in online gambling
Did you know that in certain regions (UK and Europe) there are casino operators who accept PayPal? At the moment, two of the most widely used eWallets are PayPal and Skrill, both offered as payment and withdrawal options in many online casinos. There, all games pay
Unlike with credit cards where your personal details immediately become available to the receiver, PayPal and Skrill accounts can only be accessed by you, disclosing only your email address.
When it comes to USA friendly casinos, the situation is a bit more difficult since ewallets like the ones mentioned above do not operate in US. However you do have other options to choose from, such as UPayCard for example.
Opening a Paypal account
The steps required to open your PayPal account are rather simple – all you need to do is sign up and select the email you would like to use.
Once the account is created, the users link it to the credit or debit card which will be the payment source and where the withdrawals will be directed, all the while using PayPal as a mediator.
An extra perk is the safety guarantee included in PayPal’s offer; should something go wrong in the process, PayPal steps up to investigate the problem and resolve it in the best possible manner.
It is important to note that in order to use PayPal as a withdrawal option, one must have at least one PayPal purchase in the last 12 months.
Withdrawals to PayPal will be visible in your account in literally minutes, while other withdrawal methods, such as eChecks, Direct Bank Transfer, Wire Transfer, payment cards etc can take 48 to 72 hours due to safety and fraud prevention features.
Using PayPal as a banking method within a casino does not incur any extra fees, except of course the ones charged by PayPal, which, considering the benefits of this particular eWallet, are perfectly acceptable.
Once the balance is visible on your Paypal account, you can also convert it to a different currency right then and there, without having to seek alternative solutions.
More about Skrill
Skrill is in many ways similar to PayPal. Their goal is to facilitate the deposit and other payment submissions, making them swift and discreet.
Skrill users are provided with a personal eWallet account with a valid email address – just as with PayPal. Once active, the account becomes fully functional after the users set up their balance.
This can be done by money transfer from your bank or by directing your funds from another eWallet account. The benefits of using Skrill are fast processing time, no additional fees and safe transactions. There are also some rewards and VIP programs offered by Skrill (free Skrill card promo for example), not to mention the fact that it is difficult to find a casino without one or both of the above mentioned payment solutions available.
Often, your selected banking method will of course be determined by many different factors, such as country of residence, casino offers and promotions (some casino promotions are connected to the usage of a certain payment method), personal preferences and so on. Nevertheless, if you are after a fast and safe medium in the secure environment, eWallets are the way to go. They are fully functional and optimized, with everything you need to conduct a successful transaction in one place.