We engage in online gambling with the primary purpose of having fun and relaxing after a busy day. And that is precisely why we need to ensure that the whole experience will be as streamlined as possible. From the moment you register your account with an online casino to the deposit and withdrawal methods available. Everything needs to be simple, intuitive, and fast.
After you have decided on an online casino with your favorite video slots, all that is left to do is make a deposit. The process should take no more than a few minutes, and you should have a wide variety of payment methods available. It doesn’t matter if you plan on spinning reels or betting on sports events; you want to add funds effortlessly. So without further ado, let’s take a look at some of the most reliable banking methods that will help you win at online slots and withdraw the winnings immediately.
PayPal Gambling Payment Solution
PayPal is one of the oldest and most successful e-wallets with a strong presence in the gambling world and online shopping. Depositing with PayPal comes with unmatched security, instant transactions, and advantageous limits. All of the above perks make PayPal a top choice for serious gamblers. Established in 1998, PayPal has seen a rapid expansion under Confinity and partnered up with eBay in 2002; the two companies split in 2015. PayPal headquarters are located in San Jose, California, and they have more than 20,000 employees, ranking 204th on the US corporation top 500 by revenue.
Depositing with PayPal on a gambling website is simple and quick. In the “Cashier,” you can choose “PayPal” and simply type in the desired amount. After you click on “Deposit,” you will be automatically redirected to PayPal’s website, where you will confirm the payment. You will need to log in to your PayPal account, click on “Confirm,” and the funds will automatically appear in your online casino balance. The same simple process applies when trying to withdraw funds to your PayPal balance. The only difference is that you won’t need to confirm the transaction with PayPal; the casino will make the payment directly, and you’ll notice it in your PayPal balance. Let’s take a look at some of the advantages and disadvantages of PayPal:
Pros
- High availability across gambling platforms.
- Your banking details remain private.
- Straightforward process for withdrawals and deposits that you can complete in a few clicks.
- High limits capable of accommodating even high-roller gamblers.
Cons
- Fees between 2-4% when you transfer money to your bank account.
- The MasterCard prepaid card can only be used by those who reside in the USA.
- No live chat and phone queues when dealing with PayPal customer support.
Skrill Gambling Payment Solution
Skrill is a household name in online gambling, enabling players to keep their banking details private while also benefiting from fast deposits and withdrawals. The company was founded in 2011, with its office based in London, UK. In 2015, Skrill became part of the Paysafe Group, along with Paysafecard and Neteller. The company has also partnered up with AC Milan in May 2020, further boosting its already impressive gambling presence.
Pros
- Most online casinos will accept Skrill, making it a convenient payment method, especially if you play on multiple websites.
- Instant deposits and fast withdrawals are guaranteed.
- Skrill will not share your banking details with anyone, including state authorities.
- Easy to use while also offering some of the highest security on the market.
Cons
- The main reason gamblers avoid using Skrill is that not all online casinos allow it for their welcome package bonus.
- To maintain high-security standards, you will have to provide multiple documents to verify your Skrill account.
- Skrill adds fees for deposits and withdrawals on top of the already high currency exchange rate.
Payoneer Gambling Payment Solution
The last entry in our article, Payoneer, has remained one of the premium payment providers. Their services are mainly used by professionals, business owners, and freelancers. The service is available in more than 200 countries and over 150 currencies. Payoneer prohibits gambling transactions, and you’ll have a hard time finding an online casino that accepts this payment method. However, if you already have funds on your Payoneer, you could link it through an e-wallet, like Neteller, PayPal, or Skrill, that can be later used for both deposits and withdrawals on gambling websites.
Pros
- The most robust global presence on our list with more than 200 countries serviced.
- You can transfer between Payoneer accounts without any fees.
- Fair currency exchange fees or a flat $/£/€1.50 transaction fee if conversion is not needed.
- It takes between 0 to 3 business days for Payoneer to process payments.
Cons
- It is not allowed for gambling. If you try to deposit with Payoneer in an online casino, you will either have the transaction declined or have the account suspended.
- Several additional fees add up if you plan on using Payoneer regularly.
