Players are increasingly looking to deposit real money to play online slots and casino games and hopefully cash out their winnings. Although there are many ways to pay, it can be difficult to know which is safer and more secure.
Credit and debit cards
Most online casinos accept credit or debit cards from Visa and MasterCard. A credit or debit card transaction is processed through a high-security network. You can withdraw the money immediately from your casino account.
Pros
- Widely accepted at most online casinos
- Fast processing of deposits and withdrawals
- Strong fraud protection from card issuer
Cons
- Credit card withdrawals can take 3-5 days to reflect in your bank account
- Some banks charge cash advance fees on credit card casino transactions
eWallets
An eWallet, like PayPal, Skrill, or Neteller, acts as an intermediary account between your bank and the online casino. You fund your eWallet from your bank, then use it to deposit and withdraw to casinos instantly.
Pros
- Super fast processing of deposits and withdrawals
- Encryption technology ensures high security
- Low fees compared to credit cards
Cons
- Limited to accepted casinos – not all accept eWallets
- Need to move money from eWallet to bank account
Prepaid cards
Prepaid debit cards, like Paysafecard and Flexepin, allow you to deposit funds to online casinos without linking a bank account. You purchase a prepaid card at retail outlets with cash then enter the card number to deposit the funds.
Pros
- Completely anonymous – no personal financial info required
- Convenient for cash deposits
- Funds instantly available at the casino
Cons
- Fees for purchasing and using cards
- Limited withdrawal options – need an alternative method
Bank wire transfer
A bank wire transfer directly links your bank account to the online casino to deposit and withdraw funds. This is done electronically through the SWIFT wire network. This link provides more information about the website: magic.ly.
Pros
- Secure method linking bank account
- No deposit limits for wires
- Widely available withdrawal method
Cons
- Slow processing – can take 3-5 business days
- Added wire transfer fees from the bank
Cryptocurrency
Cryptocurrencies like Bitcoin, Ethereum, and Tether are used to deposit and withdraw funds anonymously at crypto-friendly casinos. Transactions are processed on the blockchain.
Pros
- Anonymous – no personal information needed
- Fast transaction processing times
- Lower fees than other methods
Cons
- Price volatility – value can fluctuate
- Limited adoption – not all casinos accept crypto
- Store coins in a digital wallet
Paper checks
Paper checks are used to withdraw winnings from some online casinos. The casino will mail you a physical check for your withdrawal amount.
Pros
- Bank account not required
- Guaranteed payment
Cons
- Very slow processing and mailing times
- Not widely available – limited casinos offer
