Online gambling is becoming increasingly popular all over the world in 2021. Gamblers are opening up accounts at online casinos to play more and more games. So, it is important to understand how to fund the accounts. There is a wide variety of alternatives available to a player when it comes to choosing the preferred mode of payment. So, you can take your pick in accordance with your personal convenience.
The processing time is different for every method. Usually, gamblers prefer using the method that takes the least amount of time for the transaction to be processed. Online banking usually takes relatively longer processing time while e-wallets take shorter processing time.
How to Fund a Casino Account
It is a good idea for newbies to start with a low-deposit casino to figure out how it works. You can simply select any online casino from the list at https://casinosters.com/minimum-deposit-casinos/ and start playing peacefully. The following figure depicts a simple step-by-step process of funding an account at an online casino:
At first, you have to log into your account. After that, you have to make a visit to the cashier’s section. Then, once you are presented the available options, you choose your preferred method of payment. After you put in the necessary details like your account number, your card number, your one-time password, etc, just click on the payment icon for the online casino deposit.
Types of Deposit Methods for Online Casinos
1. Credit Cards
Credit cards are a form of plastic money. It is a very convenient way of conducting payments. When you do not have sufficient money, you are able to borrow the sum from the company that issued you the credit card. Basically, the company ends up making the payment on behalf of you. In exchange, you have to pay back your debt in regular installments. The company charges a rate of interest on the loan. So, when you use a credit card, it is not necessary for you to have a tight budget. The most famous companies issuing credit cards are Master Card, Visa, American Express and Discovery.
2. Debit Cards
Debit cards are another type of plastic money. The famous companies manufacturing credit cards also manufacture debit cards. However, debit cards work in a different method. Debit cards act as a bridge between you and your bank account. When you make a payment with it, the amount gets directly deducted from your account. So, if you do not have sufficient money in your bank account, the card will not work. However, an exception can be made if you opt for the feature of overdraft at your bank. An overdraft is when you do not have the money in your account and the bank makes the payment on your behalf. Later, when you refill your account, the bank deducts the sum from there in addition to charging a minor amount for the service.
3. Online Banking
Almost every business is now going digital. Banks are no exception. The banks now allow account-holders to make payments online. All you have to do is visit the official website of the bank, log into your account and fill in the necessary details like whom you intend to make the payment to and how much you intend to pay. It is highly convenient due to its ubiquitous nature. Banks have to make sure to use special encryption in order to prevent breaches. The most preferred type of encryption is the 256-bit SSL encryption. SSL is the abbreviation of the term ‘Secure Socket Layer’. When a site has SSL encryption, you see ‘https’ on the extreme left of the domain name of the site appearing on the address bar of the tab. The “s” stands for ‘security. Cybersecurity must be taken very seriously whenever you make any type of payment online.
4. Electronic Wallets
Electronic wallets are a favorite of most gamblers because most of them take minimum time, i.e., less than a day to process payments. They are fast and efficient. Electronic wallets or e-wallets are available under various banners like PayPal, Skrill, Neteller and many more. The vast majority of e-wallets practically charge you nothing for their services. Sometimes, an instant withdrawal casino partners up with an e-wallet company. So, the site encourages its players to make transactions via that specific brand of e-wallet. Many of these sites even offer you bonuses in exchange. This is a very effective way for e-wallet companies to market themselves in the online gambling industry.
Cryptocurrencies use the technology of blockchain. They are considered to be secure as they are usually equipped with end-to-end encryption. Cryptocurrencies like Bitcoin, Dogecoin and Ethereum are gaining massive fame. There are many who are buying these in bulk just to sell them off later when their value increases. Due to such level of popularity, some online casinos are starting to include this in their set of optional payment methods. However, there is indeed a little bit of risk involved. Cryptocurrencies are prone to market fluctuations. They are not regulated by any form of financial institution having legal jurisdiction.
6. Electronic Cheques
Electronic cheques or e-cheques are actually a new form of technology that is being used by quite a few online casinos these days to accept payments from gamblers. The best thing about electronic cheques is that they require the digital signature of the owner in order for the transaction to be successfully completed. So, this makes it a secure way of transferring funds. However, e-cheques might face some delay in processing payments. The payment requires the approval of the bank.
So, now you probably have a better idea of how you can make deposits into your account while gambling at an online casino. However, you have to select your casino very carefully. It must be licensed under an internationally recognized administrative body like the UK Gambling Commission. That will enable you to hold the casino accountable in the case of discrepancies. Additionally, you will also have to understand the kind of bonuses that the casino offers its new users. These should include match deposits, free spins, cashbacks and so on. The wagering conditions are also important in determining how much you can win. As long as you keep these things in mind, you are good to go.