Joining an online casino for the first time is always fun when you know you’re potentially about to make a lot of money gambling on some amazing games. But before you can start playing you’ll have to deposit funds to your account.
Depositing funds can be a stress-free transaction if you know the options available to you, and those that are best fitted to your needs. Here in this US Gambling Payments Guide, we’ll give you all the information you’ll need before you make your first deposits to some top online casinos.
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What are the payment options available?
There are several payment options available for US players, across several platforms such as online casinos, sportsbooks, bingo, and poker. The top online casinos provide almost all payment options you could think of.
Here’s a list of options you’ll find:
- Debit Cards
- Credit Cards
- PrePaid Cards
- Bank Transfer
- E-wallets
- Cryptocurrencies
The payment option mentioned all have a range of products to choose from and use. Some providers have incentives to get you to use their services, while others will have higher payment values and quicker or slower depositing times. We’ll go through each payment type, and give you a rundown on the different products available. So you can make a decision on which option you’d like to use when making your deposits and withdrawals.
Debit Cards
The most popular debit card provider is VISA. The Visa debit card is popular because it’s accepted at almost all retailers. There’s hardly a retailer that won’t accept your Visa debit card. It was reported that Visa has supplied 2.2 million cards across the globe and processes a massive 11 trillion dollars per annum.
It’s available to use in 160+ currencies and is reported to process 65,000 transactions per second. Further information can be located at the Visa facesheet. So if you’re looking for a well-established payment provider then this might be a good option.
Debit cards are one of the top payment options used at online gambling websites. The closest competitor is the credit card. It’s the easiest and fastest way to make payments, hence why it’s so attractive to use. All you’ll have to do is input your card details into the computer and press the “confirm deposit” button option, and the funds are in your account within seconds.
The security level with Visa is extremely high. The only way you’re having money stolen is if there is a virus on your device, or someone steals your card. Online casinos have top-level security, so funds are highly unlikely to be pulled out of your bank accounts using your card details this way.
Here’s a list of other companies that also provide debit cards for users:
- Swift
- Maestro
- Laser
- Visa Electron
You can sign up to these debit cards by going directly to their website and signing up.
Credit Cards
This is also another popular option for payments to gambling sites, simply because it’s quick, easy to use and funds sent are insured in case something goes wrong with your payment. It’s very similar to a debit card in terms of processing times for deposit and withdrawals.
The differences are with the credit part. When you use a credit card, you’re borrowing money, and it’s not directly being pulled out of your personal funds. A lot of users prefer this option as it allows them to gamble and pay it back at a later date.
There are a few top credit cards available for users. The main two most credit card option is provided by:
- Mastercard
- American Express
Let’s go through Mastercard first. There are three available options for users with Mastercard credit cards. Users can get either a standard Mastercard with limits specified to their credit score. The World Mastercard specifically used for people who want to travel a lot and purchase items, and the world elite Mastercard. A card for users who want to have higher limits while travelling.
American Express offers a larger range of cards for its users. The more popular cards consist of the following:
- Platinum cashback everyday credit card
- Platinum cashback credit card
- The platinum card
- American Express preferred rewards gold credit card
If you want to have a look at the range of American Express credit cards available to you. You can find them at the American Express website.
Prepaid Cards
These cards are not as popular as the debit and credit cards, however, they’re still a great option for users who want to set a budget for gambling. Prepaid cards allow users to pay money into the card, and only use the funds that were added. This assists the gambler with bankroll management as it allows you to set a hard limit before you start playing. This option is awesome and great for users struggling with gambling addiction. So who are the top providers for this option? Here is a list:
- Visa
- American Express
- Play +
These top providers have an extensive list of different types of prepaid cards you can use. For instance, Visa offers 36 different prepaid cards for its users.
Bank Transfer
The bank transfer is the safest and secure way to make payments to gambling websites. You’re covered by the security level of the bank alongside the online casino’s security, so it’s extremely unlikely that the things will go wrong. This option is preferred by users who want to make large payments knowing things are secure.
Transaction times with bank transfers can be far longer than other payment options. It can take anywhere between 1 – 3 working days for funds to reach your accounts. The money needs to be processed by the bank and online gambling provider before it can be used. The fees may also be higher with bank transfers which puts it at a slight advantage to other options which have much smaller fees.
If you’re making your first bank transfer, it’s effortless. You’ll need to input your details to the online casino before they give you their own depositing details. Sometimes they’ll give you a virtual account number (VAN) which you can input. Once you’ve got the details all you need to do it head over to your online bank account to input the numbers and confirm the transaction.
E-Wallets
E-wallets are becoming increasingly popular for users who want to make transactions to online gambling sites with added security and ease. It also ensures users make transfers without their banks having a recollection of every single transaction that’s being made. There is an extensive selection of E-wallets ready for use, here’s a list of the more popular options currently available:
These popular options are great for users who want some added security. Payments require phrases and codes set by the user or biometric confirmation to ensure payments are made. This is far more secure than using a physical card that can be stolen. Withdrawal times for E-wallets are also fast, they can take up to 1 – 2 hours to reach your accounts. This is because only the online casino needs to process the transaction and not the banks as well.
There are a few ways to use an E-wallet. One way would be to link your debit card or Mastercard. Once transactions are made they are directly pulled from your account and go through the security of the E-wallet before the transaction is completed. The second option is to prepay the E-wallet, similar to a prepaid card and use the funds this way.
Cryptocurrencies
This is a newer form of currency. The inception of bitcoin was only in January 2009, making it one of the youngest currencies in the world. The blockchain is a decentralized platform that allows users to have full control of their funds. Online gambling providers have seen the potential of cryptocurrencies and are starting to add it to their payment options. There are several cryptocurrencies you can choose from when making deposits a few popular currencies include:
- Bitcoin
- Ethereum
- DAI
- Babb
- Tether
- Litecoin
- Steller
- Cardano
- Tron
Cryptocurrencies are held in a cryptocurrency wallet. These wallets have passphrases known as wallet keys, allowing users with the specific passphrase to enter and move funds.
Here are a few of the top wallets you can use:
- My Ether Wallet
- Meta Mask
- Trezor Wallet
- Ledger Nano
If you’re looking to start using cryptocurrencies as a payment form, the larger providers who work mainly in fiat will only accept bitcoin or Ethereum as an option. However, there are specific sites that accept a large range of cryptocurrencies, like the ones mentioned above.
Conclusion
Making payments to online gambling sites should be an easy and secure process. The payment options mentioned above are all secure and have several benefits. If you’re new to online gambling we recommend using simpler options such as debit card and Mastercard. If you want a higher level of security then we recommend using bank transfers and e-wallets. Finally, if you want to have full control of your funds before and after depositing then we recommend using cryptocurrencies.
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