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With the increasing popularity of online gambling, providing the best online casino payment methods has become even more crucial. Online casino players increasingly flock to casino sites where financial transactions are safer, faster, and less expensive, but these are not all they are looking for.
Players also love variety since it means they have payment options to choose from at their convenience. This is why, in addition to speed, safety, and affordability, online casino operators now also prioritize a variety of payment methods and offer many deposit methods on their online gambling sites from which players can choose. So, let’s explore these casino transaction methods below.
Online Casinos Offering the Best Payment Method Options
A casino deposit method is a form of payment that you, as the player, will use to add cash funds to your casino account from your own bank account. When deciding which method to use to fund your account balance, it is advisable to understand what each payment method offers and the benefits of using them.
Top 1 Deposit Method – Paypal
PayPal is the number one payment method in the UK for making a deposit to an online casino provider using your own money. PayPal is an e-wallet that is extremely popular with UK players and allows you to make secure and convenient money transfers without disclosing sensitive financial data.
Benefits of Pay by Phone
Paying by phone at an online casino has many benefits. This method is secure and convenient as it does not require any access to a money source, such as a bank account or debit card. You can specify an amount to deposit to a casino and it will be deducted from your pre-paid balance, or if you are on a mobile phone contract – it will charge the specified amount to your bill at the end of the month. What’s more is, deposits using your phone are instant, meaning you can begin playing real money casino games immediately.
With the rise of mobile casinos comes a rise in more flexible deposit methods. Boku Pay by phone – a revolutionary casino deposit method, whereby players can add funds to their casino account using their mobile phone bill or pre-paid mobile balance. Simply activate your mobile as a deposit method on your casino provider’s website and you can use a pre-paid balance (pay and go) or the designated amount will be added to your phone bill during your next billing term.
Benefits of Boku
Paying by phone at an online casino has many benefits. This method is secure and convenient as it does not require any access to a money source, such as a bank account or debit card. You can specify an amount to deposit to a casino and it will be deducted from your pre-paid balance, or if you are on a mobile phone contract – it will charge the specified amount to your bill at the end of the month. What’s more is, deposits using your phone are instant, meaning you can begin playing real money casino games immediately.
At Citeulike, we regularly rate and review payment methods for casino deposits and Paysafe is currently in position 3. This reliable and secure deposit method is widely used in online gambling and allows you to exchange cash for a pre-paid voucher or purchase ‘credit’ online. This can then be added to your casino account balance for use on slots and other casino games.
Benefits of Paysafe
Paysafe is one of the most beneficial methods of depositing funds to your account. It puts you fully in control of the exact amount you wish to deposit and adds the funds immediately to your play balance. As Paysafe is owned by a leading online payment provider, it is widely available at almost all online gambling providers and is a popular e-voucher system in the gambling community.
Top Online Casino Payment Methods UK 2024
There are many other different ways to send money and receive payments in online casinos. Some of them go way back and have only recently been authorized for use in online casinos, while others were developed for casino play. But in any case, these are the most favored among the different online casino deposit methods.
Debit Card and Credit Card Payments
Banks and other financial institutions issue credit and debit cards (sometimes powered by external communications networks) which provide safe transactions, very short processing times, and quick payouts. They essentially provide a legit and secure way to conduct online cash transactions, and of the two, most casino operators and casino players favor the debit card. Let’s look at the most popular credit/debit cards casinos accept.
Visa – Visa is a payment card that is used for depositing and withdrawing funds from an online casino. Since the change in legislation by government officials, Visa credit cards are no longer legal for online gambling and only Visa debit card is accepted. You can deposit and withdraw to your bank using Visa debit, one of the most popular brands of card in the UK.
MasterCard – As with Visa, a change in UK law stops the use of MasterCard credit card transactions for casino gambling. However, you can use a MasterCard debit card to add funds to your casino account and withdraw winnings. Almost all online casinos in the UK offer MasterCard as a valid payment method.
E-Wallets
As electronic transaction methods diversify, e-wallets have steadily joined the ranks of the most secure ways to store money for online payments. With e-wallets, users don’t have to transfer money directly from their bank account to their online casino account. This is very useful in countries where gambling is illegal and bank transaction records might betray gambling activity. Here are some of the top e-wallets that gambling sites accept:
Neteller – Neteller is an electronic money transfer service that sends and receives money between merchants, including social networks and forex trading companies. The Net+ card can be used to withdraw money directly, or the balance can be transferred to personal bank accounts.
PayPal – Paypal is another very secure payment method, but it is only accepted for casino deposits in a few nations worldwide, including the UK as well.
EcoPayz – EcoPayz is a very popular casino deposit option. EcoPayz is a brand of PSI-Pay Ltd, an FCA-regulated business that offers customized virtual and physical card programs for businesses and individuals. It also offers a fast, safe, and private way to transfer money and receive them.
Boku – Boku is one of the most popular and leading brands in mobile casino payments. Players can deposit funds to their account to play real favourite casino games using their mobile phone number, which deducts funds directly from a pre-paid pay and go balance or is added to your monthly bill. Withdrawals are not possible with Boku.
Bank & Wire Transfers
Bank transfer is one of the most accessible payment options in online casinos. It is suitable for fast and easy deposits, especially through mobile apps. However, such transfers are subject to transaction fees set by the bank. Some of the methods accepted by banks include:
Wire Transfer – Most casinos allow online casino deposits through wire transfers from the bank, a payment method perfect for large online transactions.
iDeal – iDeal is a Dutch native payment option and one of the Netherlands’ most popular casino deposit methods.
Cryptocurrencies
While they haven’t gained universal acceptance in commercial sectors, cryptocurrencies are still carving a niche among financial payment options in many spheres, especially online gambling. The reason for their popularity is the unique kind of secure digital encryption they bring to the table and the unparalleled anonymity offered by their blockchain substrates. Like with e-wallets, casino players can add funds to their crypto wallets in the form of crypto tokens, which they can then use to fund their online casino account.
Many top cryptocurrencies have become popular deposit methods in gambling circles. The major ones are:
Bitcoin – The uncontested king of all crypto, Bitcoin is the world’s most valuable and recognized cryptocurrency. Any casino in the UK that accepts crypto payments accepts Bitcoin.
Ethereum – Following at a considerable distance behind Bitcoin, Ethereum is the second most recognized and valued cryptocurrency and is now widely accepted by many in the gaming industry.
Prepaid Card Payments
The Prepaid card is a special card with specific amounts loaded into it for transactional use. Some prepaid cards are non-reloadable such as the widely-used Paysafecard, while others can be reloaded whenever necessary. Here are some popular prepaid service deposit options in casino sites:
Visa Prepaid – This is the prepaid service offered by the Visa financial service company, which is obtainable in almost any bank.
MasterCard Prepaid – This prepaid service is offered by MasterCard and is accepted everywhere the Master debit card is.
Other Payment Methods
Aside from these, there are other options for making casino deposits. They include:
Google Pay – This is an electronic payment service by Google that is available to android users.
Apple Pay – A counterpart to Google pay, this e-payment service is one of the casino deposit methods exclusive to apple users.
Klarna – Klarna is a Swedish e-payment service and is one of the most popular options casino operators accept.
Casino Payments Comparison
Let’s weigh the pros and cons of the top payment options at our suggested casinos.
Payment method
Advantages
Disadvantages
Card Payments
Fast and safe
Not private
E-wallets
Private
Compatibility
Bank Transfer
Highest security
Can be slow
Crypto
Anonymous
High volatility
Online Casino Mobile Payments
These are the best methods you can use if you gamble on a mobile platform.
Card payments – Visa, Mastercard and AmEx.
E-wallets – Skrill, Neteller and EcoPayz.
Bank transfer apps – Payoneer, TransferGO and Wise.
Most Popular Payment Methods for High Rollers
If you are a high roller who likes to bet big on online casinos, you need less limiting payment options. These options will allow you to wager and cash out massively. These are the best ones for you.
Credit and debit cards
Cryptocurrency payments
Bank transfers (including instant bank transfers)
Best Casino Payment Methods Tips
Always weigh the method against your specific needs.
Always prioritize safety.
Always research a given method before using it.
Casino Account Verification And KYC procedure
Because gambling outfits are known targets for money laundering and other types of fraud, they’re now subject to the same standards of scrutiny as banks. Mandatory KYC verification for casino players is one of the results. To complete the KYC verification on a casino site, you must supply specified proof of identity documents such as Identity cards or passports. You will also have to submit some proof of address, which may be anything from a utility bill to a house deed. Note that establishments are legally forbidden to ask for any unnecessary information like sensitive financial data during the verification.
How to Make a Casino Deposit in Your Online Casino Account
If you are new to the online gambling world, then let our team at Citeulike reassure you that making your first deposit to an online casino need not be as daunting as you think.
If you have ever shopped online before, depositing your money to an online casino is as simple as making an online purchase. In fact, many people see depositing funds as a purchase of ‘casino credit’ in exchange for their cash. Using this login, we have detailed the steps you need to take in order to deposit funds to your new casino account, and although the process can vary from one casino to another, all providers generally use the same principle:
Log in to your online casino account.
Click on the cashier section or look for the ‘deposit’ button.
Select your preferred payment method / type of payment.
Enter the details of your payment method, e.g. debit card number and other bank details, PayPal user details.
Enter the amount you wish to deposit and click confirm. If you register a new online casino account you’ll have to get online casino account verification.
The specified amount will be added to your online casino account balance ready for you to use to play real money casino games.
How to Make a Casino Withdrawal
Making a withdrawal from an online casino provider is also known as cashing out winnings. Regardless of what you call it, the process is straightforward and similar to making a deposit.
When you want to withdraw funds from your account in the event of a win, simply navigate to the cashier section or casino wallet area of your account. From here you will be able to specify how much you wish to withdraw and follow the simple instructions. Below is a generic guide to cashing out:
Log in to your casino account.
Navigate to the cashier section of the casino provider.
Click on the withdraw or withdrawal button.
Select a payment method you wish to use for the withdrawal.
Enter the amount you want to withdraw and click confirm.
The money you’ve cashed out will then be sent to your bank account or whichever secure account you’ve chosen for withdrawing money.
What you Need to Know Before Making a Casino Withdrawal
Before making a withdrawal of funds from an online casino, there are a number of important points you should know. It is important to not only understand how withdrawals work, but to know the functional criteria behind withdrawals and the rules set out by each casino. Below is a list of points that may affect how you choose to withdraw winnings from an online casino:
Bonus terms (wagering requirements): Some online casinos attach wagering requirements to any bonuses or promotions that you can claim. This means that a withdrawal cannot take place until the specified amount has been played through on casino games.
Duration: Withdrawals take longer than deposits and usually take a minimum of 24 hours up to 5 days.
Minimum / Maximum limits: Online casinos set their own limits for the minimum and maximum amount you can withdraw at any one time. If you are withdrawing large amounts, there may also be a cap on the amount you can withdraw per week / month.
Security checks: Some online casinos carry out additional security checks before processing a withdrawal. This may involve transferring some of the money back to the original deposit method.
It is important to always check the information on each individual casino site with regards to payment types and any restrictions.
How We Evaluate the Best Online Casino Payment Methods
When it comes to evaluating which casino payment method is right for you, our team of industry experts does the legwork for you. We use our industry knowledge and experience to research and test each payment method so that we can compile valuable data for our visitors, to allow them to make an informed decision and weigh the pros and cons beforehand.
At Citeulike, all of the information we provide is transparent and genuine. When reviewing the latest payment methods to use at many online casinos, we work through a checklist of criteria to ensure a top-notch service at all times. Our team checks:
Fees
Security and safety
Anonymity
Transaction speed
Deposit limits or restrictions
Withdrawal limits or restrictions
Convenience
Bonuses
History and Present of Casino Payment Methods in UK
When online casinos first launched, the primary methods for funding an account were via instant bank transfers or debit / credit card. Now that credit cards have been banned in the UK, debit cards and bank transfers remain as the foundations and staple methods of the gambling industry.
Neteller and PayPal were some of the first e-wallet casino payment methods to send and receive money to and from a provider. Though Neteller was more widely used for gambling, particularly in online poker rooms. It wasn’t until more recently that PayPal grew in popularity in the gambling world and become a leading e-wallet gambling method.
As the internet and technology progressed, the industry witnessed the introduction of mobile casinos. In light of this, it wasn’t long before a revolutionary mobile payment method was invented, which meant a prepaid mobile phone credit or phone bill could be used for gambling.
Casino Payment Methods Fees & Limits
When making a deposit to an online casino, there are no fees involved. However, there may be limits on the amount you can deposit at any one time. This varies from one casino to another and may be along the lines of £1000 maximum deposit during any one transaction. Some casino providers increase the limit the longer you play. So if you are a customer for a longer period of time, you will be able to deposit larger amounts compared with brand-new players.
Withdrawals of winnings sometimes come with processing fees. Though this used to apply more to credit cards, which are now banned under UK law. However, the fee taken from your winnings is often not by the casino provider, but by the payment method company. For example, using an e-wallet account may take a transaction fee of 3% of the total amount, meaning for a £1000 withdrawal you will be charged £30.
In addition, online casinos often put a cap / limit on the amount you can withdraw on a daily, weekly, or monthly basis. This is standard practice and is classed as ‘small-print’ that allows the provider to still operate their business in the event of a large win. Though more reputable casinos tend to have larger limits.
Popular Terms Used for Casino Payment Methods
Below is a list of popular terms used at online casinos when referencing payments and legal casino banking methods.
Deposit – A sum of money paid into the casino to play real money games with.
Withdraw – A sum of money removed from the casino.
Cashier – A person, or system that handles payments to and from the casino. In a physical casino venue, the cashier converts your cash to casino chips and vice versa. The online cashier is designed to mimic this role.
Banking – The activities related to money and your casino account.
e-Wallet – Also known as a digital wallet, the e-wallet is a third-party service from a company that allows you to make electronic financial transactions to and from a casino provider, such as PayPal.
Bankroll – The player’s total money balance to bet with.
Croupier – French word for a casino dealer, often used in roulette. In live roulette, the croupier will announce when to play your bets.
House – The house in gambling is the casino.
High Roller – A player who gambles ‘big money’ or high stakes. Some online casinos do not allow high rollers to deposit at their site for fear of being put out of business if the player lands a big win.
Stake – The total amount a player bets on a particular game round.
Conclusion
There are many online methods you can use for payments on gambling sites, and which one is best for you depends on what you are after. We hope, though, that this comprehensive guide has provided you with all the information you need in order to decide which one will best suit your gambling needs.
Although we can recommend a particular payment method based on pros and cons, ultimately we are here to bring you useful information in order for you to make an informed decision about what suits you and your style of gambling. For example, some online casinos do not provide casino bonuses for e-wallets. So if you are looking to claim a casino bonus, then check the small print and consider using a debit card instead.
Debit cards and bank transfers are convenient and quick, but e-wallets provide the most security and anonymity and is one of the most preferred alternative payment methods. However, if you play mobile casino games for real money and don’t mind your losses being charged to your phone bill, a method such as Boku is ideal for gaming on the move. Although our team is able to offer advice, preference and circumstance play the most important roles in what matters to you most; speed, security, convenience, limits, and bonuses.
FAQs
The quickest payment method at an online casino is an e-wallet, such as PayPal, Skrill, or Neteller. These methods allow quicker deposits and withdrawals combined than most other options.
No. Some casinos limit welcome bonuses to specific online casino deposit methods only, such as debit cards. Using an e-wallet can sometimes result in you missing out on a casino bonus.
The maximum time you should have to wait for winnings is 5 days on average. Though this can vary from one casino to another. Typically, the more reputable the casino operator; the quicker withdrawals they will provide.
The best way is through card payments. They are fast, easily accessible, and secure.
Wire transfers, electronic wallets, and credit/debit cards are the safest options.
Security and safety are the most important considerations when selecting casino deposit methods.
Online gamblers can use their bank accounts, although this is not always ideal.
Emily Campbell (professional name) is our go-to person, and she has served as our Chief Editor since 2018. Educated at Newcastle University, Emily has worked in the marketing industry across the UK, helping various companies to gain traction and to build up quality, value-driven information aimed at readers.