Payment Providers for Online Casinos

Making a payment online is a source of great concern for a lot of those who are considering depositing with an online casino. This is in part relating to the risk of their information being accessed by a third party and then used for activity not authorized by them. While this was a concern in the early days of online gambling prior to advanced 128-bit encryption software with SSL certificates being improved, it is no longer a concern that should be considered a risk.

The online gaming industry is highly regulated, and casinos are required and governed by licensing bodies that dictate the type of financial systems they use to process deposits and outgoing transactions. It is important to understand that it is not the individual casino cashier that is processing your transactions but a processing company that processes billions in online transactions every year. Therefore the individual casino you are making a deposit with does not have access to your personal banking details, further reducing any risk associated with an online transaction.

The largest risk in depositing would relate to the use of a credit card. However there are many alternatives to using your card directly at the casino. This includes the use of a prepaid credit card or an e-wallet. As you delve deeper into this article you will discover the options available to you, how to use them, what protection and value they offer and several other interesting bits of information you may find useful.

Deposit/Withdrawal Payment Options

E-Wallets – One of the more common options in use today, the e-wallet solution is probably more popular than the use of a credit card, at least for the gambling industry where card transactions are often rejected by the banks. Though they add an extra step you have to go through in confirming your account through a long in process, e-wallets are convenient, and your information is not shared with the casino.

E-wallets allow for several funding methods including credit card deposits, and direct bank transfers. This is a real advantage as it limits the number of times you enter personal information online. A few notable e-wallets include Ecopayz, PayPal, Skrill, and Neteller.

Credit Cards – Credit cards remain a popular payment method for many. While for many this is not a preferred method for fear of identity fraud or the compromising of your credit card number, it is important to recognize that the same levels of security you find when making a purchase at any retailer or merchant is used when doing so with a licensed gaming establishment. Therefore the risk is small, to nonexistent and should not be a concern.

Debit Cards – Debit cards are somewhat more of a safer solution. The debit card allows you to load it the amount you wish to use for gaming entertainment. Once you have used the amount loading, the card cannot be used again until such time as additional funds have been added.

Wire Transfer – Wire transfer is an option that can be used, but is one most will be less comfortable with. This is due to having to upload personal banking information and waiting for those funds to be processed by your bank and then added to your casino account.

Virtual Cards – Virtual debit cards act as an e-wallet and allow you to maintain a higher level of privacy as it is not required to enter personal information when using a virtual card.

Overview:

The bottom line when depositing with any of the multiple methods available to you online is they are safe. It is exceptionally rare today to learn of anyone having their accounts compromised, either by a third party or internal employees. This is due to the information entered is 100% encrypted and not viewable to those working for a casino or payment processing company. However, if still unsure or uncomfortable, you can go directly to any of those mentioned above and review the level of security they employ to ensure your safety, it is safe to suggest once doing so that your level of comfortability will increase to a level you feel confident depositing online.

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