Payment Methods For Online Betting: The Best Ways To Deposit & Withdraw

Gambler Saloon
June 7, 2019
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Payment is getting easier and easier with every development in technology these days. Today, we can pay via our smartphones, debit cards and even our watches.

In online gambling, the number of payment methods available to deposit and withdraw are continually evolving, with all manner now available to customers all over the world.

Below you’ll find the best methods for payment in online gambling from the biggest sportsbooks and online casinos in the USA.

What Payment Methods Can I Use To Deposit & Withdraw When Online Betting?

There are a huge range of payment methods currently available to deposit and withdraw. Below we’ve separated the types of payment available by category along with the most common ways from each…

Credit/Debit Cards

Credit and debit cards are of course the most popular method of payment and withdrawal, with Mastercard, Visa and American Express the three most common.

Maestro will be accepted with some casinos and sportsbooks, while with all types of credit and debit card, deposits are taken almost immediately, with withdrawals usually taking a couple of days.

It’s a secure method of payment and used by millions all over the world.

Main Credit/Debit Cards Accepted:

  • Visa
  • Mastercard
  • American Express

e-Wallets

e-Wallets are well and truly on the rise as a casino and sportsbook method of payment. They’re quick and simple to use and offer added security as your card and banking information isn’t sent to the casino in question.

Instead your e-Wallet will withdraw the funds from your bank account and then transfer into your betting account. You can keep all your account details within your e-Wallet, making it easy to transfer funds between various ones.

There are an increasing number of e-Wallets now accepted by online casinos, with the most common found below:

  • Skrill
  • Neteller
  • PayPal

Offline Methods

While not used very frequently these days, there are still a number of offline methods in which customers can deposit and withdraw. This will slowly start to become obsolete, with the more secure and faster transfer methods now taking over.

However, with many you will still be able to deposit to your account via:

  • Echeck
  • Bank Wire

Cryptocurrency

We’ve all heard of cryptocurrency, and if you own any Bitcoin you can in fact make deposits with a few sportsbooks and casinos.

This is available in only a small number currently, with the peer-to-peer currency still in its relatively early stages. Meanwhile, no other type of cryptocurrency is accepted in those particular casinos.

Things You Should Know About Payment Methods & Online Betting

There are a number of things you need to consider with each payment method for both withdrawals and deposits, as each type can have various different circumstances, terms and conditions.

When choosing which method to use consider the following:

The Most Secure Method of Payment:

Security is of the utmost importance for both casinos and customers, and you’ll find all the major names have extremely tight security measures.

However, e-Wallets offer the securest way to pay as it requires no connection between your bank and the casino. Instead it passes through your e-Wallet, with no account numbers or information being given to a casino.

The Fastest Method of Payment:

Every method of payment has different timescales when it comes to payment transfers, whether that be depositing or withdrawing.

e-Wallets operate extremely quickly, with their design focussed on transferring money online. Generally, deposits will be made instantly, while debit and credit cards are also among the fastest to transfer. Again, in a matter of seconds.

Withdrawals can generally take up to three days to appear in accounts, again credit and debit cards alongside e-Wallets being the quickest operators.

How Winnings Will Be Paid:

Winnings are usually required to be paid via the same means you deposited the funds. So if you deposited via a debit card, you’ll be required to withdraw them in the same way.

If you deposit via e-Wallet, a withdrawal will also then go back into your e-Wallet. Of course, how you transfer money from there is up to you.

Your Location:

Some methods of payment are only available in certain countries or locations. In the USA you’ll generally find all the usual options and all payment methods will be highlighted within a Sportsbook or Casinos FAQs and terms and conditions.

Sportsbooks & Casinos With The Biggest Variety Of Payment Methods

Usually you’ll find the bigger sportsbooks and casinos offer the largest range of payment methods as they ultimately have a bigger capacity to process them.

The likes of SugarHouse888casino and Caesars all have a large number of the payment methods above available, as well as some of the finest slots and casino games to place your bets on.

Author Gambler Saloon