Best Payment Methods for Online Gambling - Deposit Safely Online

It's always a fun time - being able to make a deposit at your chosen online sportsbook or casino and then begin wagering on your favorite options. Then again, with so many platforms and different payment methods on hand, it can be a bit confusing at times as to where to register and what method to use at such sites.

But don't worry. We have brought together a selection of the most popular online payment methods here for you to read about. You don't want to feel overwhelmed or confused as to the methods on hand at your chosen gambling site. So, if you know what's what, things will be a lot easier for you when it comes to depositing (and of course, withdrawing).

Therefore, it's good to read through this section of our site to inform yourself on everything that is available to you to use online. So, without further ado, let's take a brief look at some of the internet's most popular payment methods.

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Cryptocurrencies

Bitcoin

Bitcoin is already known around the world as being the most popular (and the very first) digital currency. It's increasing in popularity all the time, which is what has led to multiple online sites from eCommerce through to gambling platforms offering it as a payment method. Using the Bitcoin cryptocurrency for funding your online sportsbook account is a simple procedure, only requiring you to know the address of your Bitcoin wallet. Transactions are usually very fast, and this relates to withdrawing funds from your account, too. You'll also find that some sites allow players to play games in the cryptocurrency, which means that you won't incur any conversion fees, either. In this modern day and age, Bitcoin payments are becoming ever more present.

Ethereum

If Bitcoin is the world's most popular cryptocurrency, then Ethereum isn't far behind it. Also gaining in popularity, this digital currency first began being used in the online world back in July of 2015. While it still isn't quite as widely known as the Bitcoin option, some online gambling sites have taken to incorporating it into their payment methods as an alternative cryptocurrency method. Again, it only requires the knowledge of the address of the wallet where your currency is being stored for you to be able to transfer funds into your account via Ethereum. It's true to say that soon enough, it could become just as big as the Bitcoin option.

Litecoin

Litecoin was released via an open-source client on October 7, 2011, and the network became available eight days later. Litecoin actually exists as a fork of the Bitcoin Core client, although it has somewhat of a more decreased block generation time and an increased maximum number of coins. Like Ethereum, it has started to become more accepted at online casinos and gambling sites, providing an alternative to the popular Bitcoin option. As with the others, you can add funds to your chosen platform via the wallet address that houses your currency, and withdrawals also take place in the same manner. It really does provide an appealing alternative to the standard cryptocurrency option.

Bitcoin Cash

If Bitcoin, Litecoin, and Ethereum are three of the world's most popular cryptocurrencies right now, then Bitcoin Cash is definitely the up-and-comer. Bitcoin Cash is actually a hard fork of the Bitcoin brand, with the split of the block size limit changing to accommodate this in August of 2017. When this happened, anyone in possession of Bitcoin also held the same number of Bitcoin Cash units. This swiftly boosted the status of Bitcoin Cash within days of the split occurring, which is why many online platforms chose to also provide it as an alternative option to the three aforementioned digital currencies. This is why it's quite common to see at some gambling platforms that Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are mentioned singularly, segregating them away from the remaining altcoins.

Others

There are many online currencies available to purchase and mine these days, although not all online platforms accept deposits in them as of yet. These masses of cryptocurrencies are known as altcoins, and if a casino or sportsbook doesn't accept them as depositing methods yet, then it's most likely that you'll need to convert them into Bitcoin first. There are several popular altcoins already, including Dash, Ripple, IOTA, and Monero. Generally speaking, if an online platform works solely with cryptocurrency deposits, then you're more than likely able to use altcoins for depositing purposes there. For those that have a wider choice of payment methods for players to choose from, it's not always a possibility.

Credit Cards

Visa

Everyone knows about Visa cards, right? It's one of the biggest brands in the world. Providing both debit and credit cards, a Visa product will generally be accepted at most online sportsbooks and casinos. They're great for offering up instant deposits, although the downside to paying with a Visa card online is that many people still don't like entering card details. Even though the sites that we recommend are fully regulated and provide secure transactions, Visa card payments aren't always the best for everyone. Furthermore, withdrawing via a Visa can take between one and three business days to complete. Therefore, while it's a well-known brand and pretty much available everywhere, Visa cards also have their drawbacks.

Mastercard

Being available and held in just as high esteem as Visa is the Mastercard option. Again, these cards require you to enter details such as the expiry date and CVV2 code from the back, and this is another reason why some online bettors prefer to use other payment methods. However, again, they do provide an instant form of depositing, although they're not as frequently available for withdrawing as the Visa cards. Yet Mastercard is still a trusted brand and can generally be found at most online gambling sites as an available payment method to use. Mastercard is also responsible for providing the Maestro debit card product, which is also accepted at a vast majority of platforms.

American Express

It stands to reason that the online sportsbooks and casinos that accept US-based players would be the ones that tend to also accept American Express cards more so than anywhere else. After all, Amex is usually provided to US citizens more so than any others. It works in the same way as Visa and Mastercard, requiring users to input the long digits and the expiry date and so on. The issue that most affects the American Express card, though, is that it can come with higher-than-average transaction fees - even in comparison to Mastercard and Visa deposits. Furthermore, some banks in the US do restrict deposits at online gambling sites, meaning that American Express payments can sometimes fail to process through.

Discover

Like the Amex cards, Discover is another credit card that is issued primarily in the United States. It was introduced back in 1985 by the Sears company, and at the time, it didn't have an annual fee to pay, while also providing a higher-than-average credit limit. Debit cards have also been brought into effect by Discover, beginning back in February of 2006. In actuality, Discover is the fourth-largest card brand in the United States, behind the three previously-spoken-of card companies. It's not as readily available to use at online sportsbooks and casinos as the others but can still be found at a fair few. The transactions take place in the same way, though - you enter the card details, and an instant deposit into your gambling account takes place.

E-Wallets

PayPal

PayPal works as one of the largest and best-known e-wallets around the world. Yet if you're a US citizen, then it's generally not something that you're able to use for funding an online gambling site account with. That being said, other countries can make use of it, providing a smooth and swift transaction. This is the case for both depositing purposes and withdrawals. E-wallets are generally the method that many people turn to when they have no interest in utilizing a credit or debit card. Generally speaking, though, PayPal isn't one of the more frequently-seen options at online casinos and sportsbooks. Usually, you'll get to see others appearing a lot more regularly.

Neteller

When it comes to e-wallets and online gambling sites, Neteller is very much the most often-seen option around. This one sometimes caters to the US market as well as everywhere else, making it quite the international option to take advantage of when it comes to funding an account. E-wallets have the added benefit of being speedy for both depositing and withdrawing, seeing users receive their cashed-out funds within 24 to 48 hours. Neteller has been around since the year of 1999, so it brings forth a brand that has a very solid foundation when it comes to online payments. This is also a reason that so many online gambling sites choose to work with the Neteller brand.

Skrill

This e-wallet originally began its life under the name of Moneybookers. However, in 2011, it became known as Skrill - a name that it still goes by today. At the time of its name-change, Skrill had over 25 million customers around the world, even including 120,000 merchant accounts, too. Facebook, Skype, and eBay have all had dealings with Skrill, making it a global phenomenon in the online payment industry. Alongside Neteller, it's very frequently seen at many online casinos and sportsbooks as being a possible method of payment. It's also deemed to be safer than making a credit or debit card deposit, which is another reason why it has reached such popular heights.

ecoPayz

Steadily building up its own reputation and standing in the online payment world, the ecoPayz e-wallet is one that started out its life in more recent years when compared with Skrill, PayPal, and Neteller. Yet this hasn't had any impact upon how successful the e-wallet has become. You'll find that it is now available at many online casinos, providing an alternative to the more popular options, while still offering up a great service. It isn't an option that is available to US players, unfortunately, but those gamers who can use it will be able to benefit from a secure transaction, both for depositing and withdrawing funds.

WebMoney

This option may seem like a less-known e-wallet, although it has been in operation since 1998. The system has over 36 million users, and there are over 100,000 online stores that accept payments via this option. Its headquarters are based in Moscow, Russia, which is where most of its customer base is located, too. It actually began operating as a money transfer system for Russian residents to send and receive US dollars. In the following years after its launch, the WebMoney e-wallet began supporting other currencies, including Ukrainian hyrvnias, Belarusian rubles, and Vietnamese dongs. Certain cryptocurrencies are also supported, and the e-wallet still provides a strong service for Russian online gamblers to utilize.

Yandex Money

In a similar move to the WebMoney option, Yandex Money first began operating with a sole purpose of providing Russian citizens with online money transfer options. It now also caters to residents of Turkey, Ukraine, Belarus, and Kazakhstan, having grown its user base significantly over the years of operation. While it's not particularly an option that appears at a huge mass of online sportsbook and casinos, it still remains as a popular addition for many. The issue with Yandex Money is that while deposits tend to be quite instantaneous, withdrawals can have longer time periods to complete. These withdrawals can sometimes take between five and seven business days to show within Yandex users' accounts.

Prepaid Cards

Paysafecard

If you ask online gamblers about prepaid cards, then the chances are that the Paysafecard brand will come to mind first. This option requires you to purchase cards with prepaid amounts on them from an outlet within your country. You can purchase several cards to tally up their amounts, with a maximum of €300 able to be deposited at an online casino via this method. Once you have purchased such cards, you will find that they have a 16-digit PIN on them for you to scratch foil off of and utilize for depositing funds into your chosen online sportsbook or casino. These are generally considered to be the safest form of making a deposit at such locations, although they frequently cannot be used for making a withdrawal.

Entropay

If you're a little bit skeptical about using credit or debit cards to fund your online account with, then perhaps an Entropay virtual card will be of more interest to you. With a virtual, disposable Visa card, you won't have as much to worry about. You basically fund the card with as much money as you would like and then utilize this at the online gambling site of your choice. Entropay cards can be created in multiple currencies, including Euros, US dollars, and British pounds sterling, and they're available in more than 120 countries around the world. You're also able to withdraw funds back to the virtual card in most cases, meaning that you can both deposit and cash out via this method. You're also able to have 10 active Entropay cards at a time!

Qiwi

Catering to Russian clients once more, the Qiwi service is a payment option that has its headquarters in Nicosia, Cyprus. It began operating back in 2007, but since that time has also branched out to incorporate other countries, including Romania, Belarus, Kazakhstan, the United States, and the United Arab Emirates. This electronic payment system is similar to the Entropay option in the sense that it provides you with the chance to receive a card and top it up with as much money as you wish. All you need to do is then utilize those funds wherever you'd like to at an online site that accepts Qiwi deposits. The main difference between this and Entropay is that Qiwi is not something that can always be used for withdrawal purposes.

Bank Transfers

Trustly

Founded in 2008, Trustly is perhaps one of the best-known bank transfer options for online gambling sites to incorporate into their accepted payment methods. By 2015, Trustly's payment solutions were being offered by over 800 online stores throughout Europe, and by 2016, it reached more than 67 million customers by integrating itself with over 100 banks in 29 countries. This includes locations like Sweden, Finland, Denmark, Estonia, and Spain. Trustly basically works as a middleman between the online gambling site and your bank. You transfer funds from the bank, they go through Trustly, and then end up in your casino or sportsbook account. In doing so, your bank details are never exposed to the gambling site, giving you a safer option to utilize when it comes to funding your account. Some platforms also allow withdrawals via Trustly as well.

Sofort

Sofort began offering its bank transfer services in 2005, specifically to the German and Austrian markets. However, the company was purchased by Klarna - a Swedish bank that provides its own online financial services - in 2012. Sofort has since branched out and provides its services to several other countries, including the Netherlands, Belgium, Switzerland, and the United Kingdom. This option provides a safe and reliable payment service, and it's accepted by over 25,000 online stores. Generally speaking, you can find it at many online gambling sites as well, giving it an appreciation by an even wider audience.

Western Union

Depositing funds into an online account via Western Union is a simple process to undertake, although it can be one of the longer options to utilize. Basically, you're required to go to any bank or financial institution that offers Western Union transfers, give them the cash money that you want to transfer, and advise on where it should be sent to. You can also partake in this online via the Western Union website. Someone from the sportsbook end then has to go and collect the funds or accept them before they will be deposited into your casino account. It's a safe way of funding a casino account, but also a much slower one.

Euteller

If you're a resident of Finland, then you'll no doubt have heard about the Euteller payment method. This company was founded back in 2007 and works very much in the same way as Sofort does for depositing purposes. In this respect, it acts as the number-one online payment service within Finland. All of the country's eight major banks, such as Nordea, Aktia, and Sampo Bank, are served by Euteller, ensuring that Finnish gamblers can easily transfer money into their online gambling site accounts. Like the others, no personal banking information is exchanged between the players' bank accounts and the platforms, offering up a safe payment method for residents of Finland.

Multibanco

The Multibanco option is specifically for online bankers in Portugal, operated by the Sociedade Interbancária de Serviços S.A. It links up the ATMs of the 27 different banks within Portugal and works as a fully integrated interbank network. This means that players who hold an account at any of the 27 banks within the country can utilize the Multibanco option for funding their online gambling accounts with. By 2014, this payment method had processed over 9 million transactions, many of which had taken place via online casinos and sportsbooks.

Giropay

This works as another country-specific bank transfer method, first opening its doors to the German and Austrian public in 2006. It works by uniting the online banking accounts of the more than 1,500 German and Austrian banks, serving about 17 million people in the process. Giropay is responsible for over 1 million payments each month, meaning that it's the second-most-used payment method for online transactions within Germany, following after the Sofort option spoken of earlier. Like most other online bank transfer options, Giropay simply works as a middle man between the bank and the online gambling site.

POLi

For online bettors in New Zealand and Australia, POLi is so very often an option that these players use. Like the others, it's an intermediary service between these gamblers' online bank accounts and the platforms that they're depositing into. It bases itself out of Melbourne, Australia, and has been providing its payment services since 2006. A total of 18 Australian and 7 New Zealand banks are linked with the POLi payment services. While this option is available for depositing, though, withdrawals cannot be processed via the POLi option in most cases.

Instadebit

Starting out its life back in 2003, Instadebit provides its bank transfer payment services to bettors within Canada. Instadebit essentially offers up a platform that customers are able to utilize to make online payments directly from their bank accounts. It is available within 30 countries, despite the fact that it is very much a Canadian-focused company. As with the other bank transfer payments, Instadebit stands in the middle between the bank and the gambling site account. Your funds are sent to Instadebit and then transferred straight into your gaming account, giving you instant possibilities for gaming.

Offline Banking

Bank Wire

Generally speaking, offline banking is a longer process than that of online bank transfers, so they're usually only recommended as a last resort. Bank wire transfers also tend to have a fee charged with them, both in terms of depositing and withdrawing. This is especially the case when it comes to money being converted, too. You'll usually see funds transferred within seven business days with this method, although sometimes it can take longer - more so where withdrawals are concerned. It does provide a safer method of sending payments, but it's usually only recommended to use this option if you're intending to deposit larger amounts.

Checks

As with the bank wire option, checks can often be quite slow when it comes to transferring money. In fact, they generally come with the longest wait time, sometimes taking up to 20 or more business days to be received and then clear through. Again, while they do provide a safer payment method to make use of, it's generally recommended to use checks for larger deposit amounts. Like the bank wire transfer, you'll also find that withdrawals can be made via this method, too.