What Is The Best Way To Pay/Bet Online? Pros And Cons

One thing synonymous with most modern casinos is that it offers punters multiple payment methods. You must deposit money into your account if you intend to play at an online casino with real money. Therefore, the payment method that an online casino operator lists as supported is essential.

New payment methods appear in the industry frequently. Some payment methods are faster, while some others are more secure. And with the emergence of a new payment method comes new features. If you want to know the best way to deposit at an online casino with pros and cons, you've come to the right place.

Top 5 payment methods to deposit online with pros and cons

Different casinos have a different list of payment methods they support. You can find many well-known payment solutions with Boku. Below are some of the best payment solutions you can use and their pros and cons.

1. Cryptocurrencies

One of the safest ways to deposit money into your online casino account is using cryptocurrencies. Many online casinos accept all kinds of cryptocurrencies like BTC, ETH, XRP, BCH, etc. This payment option is great because it removes some punters' concerns about giving their banking information to an online casino. Also, cryptocurrencies help keep users anonymous while having fun at their favorite online casino.

Cryptocurrency transactions are processed instantly at incredible speed. When players decide to use cryptocurrency as a deposit, it allows them to access more international casinos. And the best part is that players' can send funds to these international platforms without the hassle of high processing fees or long waits.

Pros

• Instant payment method
• Low processing fee
• High-security features
• Keeps players' information private

Cons

• Crypto is volatile, and its value is prone to fluctuate drastically

2. E-wallets

Using e-wallets to make a deposit is the next best way to deposit money into your online casino account. It is a digital wallet that allows users to store, send and receive money online. Common examples of e-wallets you will find at online casinos include PayPal, Neteller, Skrill, and so on. There are other types of e-wallets, like Google Wallet, Apple Pay, and Amazon Payment, accepted by some online casinos.

The reason using an e-wallet as a payment solution stands out is that it also eliminates the concern some players have given their bank information to online casinos. With an e-wallet, you can safely deposit into your online casino account without worrying about compromised banking information. Another reason e-wallets are an excellent payment solution is that they process deposits instantly.

Pros

• Accepted at most online casinos
• Instant payment option
• High-security features
• Convenient

Cons

• A high processing fee may apply

3. Prepaid cards

If you are looking for another secure way to deposit into your online casino account, prepaid cards are an excellent option. There are several prepaid cards you can use for online gaming. Common prepaid cards accepted at online casinos include Paysafecard, EcoCard, NeoSurf, American Express Prepaid Cards, and so on.

Using prepaid cards eliminates the concern of giving your banking information to the online casino. Also, because prepaid cards come with a balance that acts as a spending limit, it helps players have better control over their spending. So, a user using prepaid cards can only gamble with the amount loaded as there are no credit lines. Note that the use of prepaid cards in most cases is to make a deposit and does not support withdrawal.

Pros

• Safe to use as no sensitive information is at risk
• Online casinos accept several prepaid cards
• Most prepaid cards have mobile apps for more effortless loading
• Fixed spending for better control over finance while gambling

Cons

• Lower deposit limit

4. Credit/debit cards

The use of credit cards or debit cards to deposit money into your online casino account is also a common practice among players. This payment method is one of the most common at online casinos as new investors like Samsung launch their credit card. One reason for the widespread use of credit cards or debit cards is that they often allow the easy transaction of fiat currencies. So, when a player deposits money into their account, they don't have to get a digital currency as with most e-wallets.

In most cases, the credit cards or debit cards players use are issued by their financial institution. As such, it is linked to their bank account. But as long as the player is careful with their card details, they should be fine and able to transact online safely. Common examples of credit or debit cards you'd find accepted at online casinos include Visa and MasterCard.

Pros

• It can be used anywhere in the world
• It does not affect your credit score
• Points and cash backs are earned depending on the card
• Instant transaction processing

Cons

• Immediate access to funds may cause overspending

Conclusion

In conclusion, when depositing at an online casino, you must be cautious about the payment method you use. Every payment option has its fair share of advantages and disadvantages, as you can see from this review. It is left to you as the player to choose the payment option that is most convenient for you.