Online Casino Banking Guide
Ever since the legalization process of online gambling sites in USA started, the sites were forced to find ways to legally and easily complete the money transactions from their customers. This includes both deposits and cashouts. Various payment services are employed to this end, in order to provide all customers with a legitimate way to process their payments.
When choosing a payment method to use at an online casino or sports betting site, players should consider:
- The transaction speed
- Applicable fees
- Availability at the sites
- Security
All of these elements make a payment method either very attractive or not attractive at all. Credit and debit cards are the easiest payment methods to use, but security can be somewhat of a concern as users to have to share their real life banking information at online websites. While gambling site take security very seriously, there is always a chance of something going wrong, which is why e-wallets have become so popular.
Sports Betting Banking Guide
Like casino players, sports betting customers need to choose a payment method to use when betting online. For the same safety reasons, many bettors choose to use services like PayPal, NETELLER or Skrill to process their deposits and request their cashouts.
To make online banking easy for their customers, online sports betting sites make it possible for players to also use other payment methods. These include cash payment methods like PayNearMe and cash at cage, which applies to sportsbooks attached to live casino venues.
If you are looking to bet on sports online from the US, you should not have any legal or other issues with payment processing. In states where online sports betting is legalized, payments made to such sites are 100% legal and just as clear as regular online purchases.
Online Poker Banking Guide
Online poker is the third type of online gambling that was legalized in some states. Much like casino gambling and sports betting, online poker requires real money deposits from players. Many of the same companies that provide the other games also offer poker tables and payment processing is very similar.
Poker players from across the USA can fund their online poker accounts via:
- Visa
- MasterCard
- AmEx
- PayPal
- NETELLER
- Skrill
- PayNearMe
- Cash at Cage
- Check
All online poker deposits are usually processed instantly, and the only waiting periods apply to withdrawal requests. Depending on the cashout method you choose for your withdrawal, you may have to wait anywhere between a couple of days and a couple of weeks to get the hands on your cash.
Many American players use checks as their preferred method of cashout. However, it is important to remember that checks are by far the slowest of all cashout methods, so if you do choose this payment method make sure you understand that some waiting time may apply.
Avoid fees: How it works
We have already discussed how various online gambling sites offer many different payment methods. While the difference between using them may be slight in terms of the end result, there can be some differences in the process itself.
One of the biggest differences between different banking methods are the fees associated with such transfers. Various payment services may charge fees on deposits, and this is especially the case when making a deposit straight out of your banking account.
Payment processors such as PayPal will also charge you fees when you try to move the money you cashed out of your casino or sports betting balance into your bank account. The fees associated with different payment processors may be a percentage of the payment or a fixed fee, depending on the service you use.
In either case, it is important for players to educate themselves about the payment method they are going to use and also check the rules at the site you are playing at in regard to your payment method. One sure way to avoid any fees is to avoid depositing and cashing out too often and rather leave some money in your casino balance for when you intend to play again.
Best payment methods: Choose your favorite option
With so many payment options available at online gambling sites, it can be difficult to pick one and stick to it. The truth is there isn’t a single best payment method out there and every player has to make his mind up on his own. The best we can do is give you a few tips in regards to the best possible payment methods out there.
Safest payment method
Safety can be really important when it comes to playing online casino games. When you are depositing money online, some payment methods like credit cards require you to share your banking details with the operator, which some users may not see as very safe. To be sure you are 100% safe at all times, using a prepaid method like PayNearMe can be a very good choice. With absolute anonymity, such payment methods keep you safe from any potential hackers online.
Fastest payment method
If you are just looking to make a fast deposit and cashout, e-wallets like PayPal are certainly the way to go. Every deposit made via PayPal is instantly processed and you can get money straight from your credit card to the casino this way. E-wallet cashouts are also very fast and are usually the quickest way to get cash out of your account and into your banking balance.
Cheapest payment method
Are you simply looking to avoid paying any fees? While there are multiple payment methods that may not charge fees, making a deposit directly at a cage of a live casino is often the cheapest way to put money into your online casino balance. Simply walk up to the cashier, deposit the amount you are looking to play with and use the entire balance at the online tables, no fees and no charges.
FAQ: Often asked & answered here
FAQ
Online casinos, sports betting sites and poker sites in the USA offer many payment processing services, such as credit cards, e-wallets, cash payment systems and more. Players can make instant deposit via all these methods, while paying minimal or no deposit fees at all.
There is no single best payment method. Our banking guide was designed to help you make up your own mind and we hope you will find a preferred payment method quickly with its help. Now you get to choose which payment method you prefer for ease, privacy and price.
Most online casino deposits are instantly processed. The only payments that may take some time are those made via check or wire transfers, while others are immediately available for play. As soon as you click that deposit button, you will be good to join real money action.
Depending on the payment method a player chooses, there may be some fees that apply when depositing funds into an account. However, in most cases there are no fees associated with deposits, especially if you deposit directly from your credit or debit card.
Once you have won some money at an online casino or another gambling site, you may request a cashout. Depending on the payment method you choose, you will have to wait several days for the money to reach your banking account.
As long as you play at licensed gambling sites and do everything by the book, online transactions are secure. If you have any doubts, you can use different payment methods like PayNearMe to make sure your transactions are completely anonymous and secure.
E-wallets, such as PayPal and NETELLER generally allow for the fastest deposits and cashouts. With these payment methods, your deposits are processed instantly and most online gambling sites process cashouts within a few business days. Some online casinos will even process withdrawals into e-wallet balances within a few hours.
Conclusion
With so many online gambling sites available, players get many choices. At each of the sites, multiple payment methods are offered and some do the job better than others. If you are looking to play online slots, we invite you to learn more about the best online payment processing services and choose the best payment method for yourself among them. Remember, the payment method you pick can be important for many reasons including security, speed and cost, so pick carefully and don’t rush into anything.
