Online Casino Deposit Methods
The concept of making deposits and withdrawals is easy enough. Give the casino money. Play. Win. Ask for your money back.
It’s not that banking is difficult. But it can be overwhelming. What deposit methods do you use? Which ones are the fastest? Which are the best options for US players? What about fees?
These are the types of questions we want to answer on this page.
Beginner’s Casino Guide
- Part 1: The Basics
- Part 2: The Bonuses
- Part 3: Software
- Part 4: Deposit Methods
- Part 5: Choosing A Casino
Methods We Have Covered For You
Find a complete listing of banking methods that we have reviewed. Each individual method review also features top 3 casino bonuses for that particular method. This should come in real handy!
Types of Banking Methods
There are several types of banking methods that online casinos use. Before we get to the specific companies, we thought it’d be useful to explain to you what the different types are, their pros and cons, and how they work.
Credit Cards / Debit Cards – Credit and debit cards are issued by your bank. They’re the plastic things in your wallet or purse. To use them online you’ll give the casino the numbers, expiration date and the 3 digit code on the back. Using plastic is the fastest and most convenient way to get money online, however, you do risk giving your information to bad casinos. Americans and Canadians may face declines, too.
E-Wallets – E-wallets are virtual wallets. You store your money online, and spend it anywhere that accepts that specific e-wallet. They’re simple to use. Just log-in to the web app, fund your account and then spend your money. When depositing to a casino you’ll give the casino your account information (email, account number, etc), and your money will be transferred instantly. Unfortunately, they’re not available to all players (mostly Americans).
Money Transfers – A money transfer is using a 3rd party company to send the money for you, kind of like asking your bank to wire money. However, you’re not using your bank, which is a good thing — you leave no paper trail. Money transfers are particularly useful for Americans when ideal options like credit or prepaid cards fail. The most popular money transfer solution is Western Union and MoneyGram.
Bitcoins – Bitcoins are digital currency. They work similar to e-wallets, other than their value fluctuates like individual stocks. Casinos are not readily accepting this payment type yet, although that may change if the US market continues to progress towards regulation at a slow pace.
Bank Wires, Transfers eChecks – Bank wires, transfers and echecks are digital methods for moving money directly to and from your bank account. eChecks are usually used for deposits, and bank wires and transfers are for withdrawals. Keep in mind that these methods can be risky for US players. They also take a couple of days to process/complete and will have fees.
Top 10 Deposit Options for Casino Players
There are tens, if not hundreds of deposit methods that you can use to fund your casino account. Below you’ll find the top 10 methods that are readily available and used by players all over the world.
Credit / Debit Cards – This is the ideal option for US players because the acceptance rates are so fast. You could make a deposit and be ready to play no more than 5 minutes later. The only downside to credit or debit cards is that the majority of players cannot receive withdrawals with them.
The following brands are accepted online:
• American Express
Gift Cards / Prepaid Cards – These are the Visa and MasterCard cash cards that you see in grocery and department stores. These spend just like a standard credit/debit card, except that they leave no paper trail. Gift cards are a good backup for American players.
NETeller – An e-wallet solution for European players. They’re known for having fast transaction times. NETeller is available at all the casinos worth playing at, but unfortunately is not available to US or Canadian players.
Skrill (Moneybookers) – An e-wallet that is similar to NETeller. Skrill is available at all the major online casinos. They are very simple to use; just fund your Skrill account and transfer the funds to your casino account. Skrill is not an option for US players.
Western Union – Western Union is a money transfer service. Take the casinos account information to your local WU, fill out the forms, pay them a nominal fee and they’ll ship your funds right away. This is an ideal (backup) option for US players, and one that leaves no paper trail.
eCheck – Similar to using a paper check, but digital instead. You will need a routing and account number, as well as your personal details. You may also need to provide the casino with ID. eChecks are a fast solution. However, they’re not readily available.
PayPal – PayPal is a well-known payment processor. They only work with licensed and gambling operators in countries where gambling is illegal. They’re fast and safe, too. Any casino that accepts PayPal is (usually) a good indicator that the casino is worth playing at. Unfortunately, PayPal is not available to American players (for gambling).
UKash – UKash is a combination of a prepaid card and voucher. You’re given a unique ID number (as opposed to storing your money online), and all you need to do is give the casino this number and how much you want to deposit. UKash is used/accepted in 30+ countries. Unfortunately the US is not one of them.
WebMoney – WebMoney is popular in Europe and the UK. It’s similar to PayPal in that you load your account with money, then you can transfer those funds to other people, or your casino account. The upside is that your money is available to play with immediately. However, there are fees when you deposit (to WebMoney), and withdrawal fees are hit or miss. This option is not available to Americans.
Entropay – Entropay is like a credit card, but no card is need. Just fund your account and transfer your money to the casino. Keep in mind that there are fees when you load your account, but you should not have fees when you request a withdrawal. Entropay is not available to US players.
Keep in mind that there are many, many more banking options than the 10 in this list. However, once you get outside the most popular options you come across banking methods that are country specific.
There are a couple of other things worth noting:
Most banking options will not have fees for depositing to the casino. However, there may be fees ranging from $5 to $75 for withdrawals. So you’ll want to keep this in mind when scoping out a casino. You might want to find 2 different fee-free methods to use; one for depositing, and the other for withdrawals, if that’s possible.
Secondly, processing times vary from method to method. Lots of options, like credit cards, prepaid cards, PayPal and NETeller, are quick and make the funds instantly available. With other options, however, you might have to wait a few hours for the money to hit your account. And withdrawals can take as long as a few minutes to as long as a few weeks, depending on the method you use.
Best Deposit Methods for Americans
The best deposit method for Americans is credit or debit cards. They have a high acceptance rate, are fast and convenient. However, the downside is that declines do happen.
So if you can’t get your credit card to work, I’ve heard (not experienced) that calling the casino and having them manually enter in the card information can work.
If that doesn’t work I recommend going with a money transfer solution like Western Union. Your bank won’t see it, so you don’t run the risk of having your request declined, or having your bank account closed, which does happen on rare occasion.
Another option worth talking about are bitcoins. Bitcoins are newish, having been around since 2009. Bitcoins are a digital currency that is not (currently) regulated by the US government. You buy them from a broker, store them in a bitcoin e-wallet and can spend them online like cash, which includes transferring them to your casino account. Then transfer them back when you’re ready to cash out.
There are a couple of downsides to bitcoins, though. One, the value of bitcoins fluctuate like stocks. So it’s very possible to withdraw your money from the casino and have your bitcoins be worth less. Secondly, few casinos are accepting bitcoins right now. However, time will only tell if that changes.