Safest Ways to Deposit Money in Online Casinos
$5,000 Welcome Bonus
Online casinos have been on the rise for the past few years. At the height of COVID-19 in 2020, Google searches related to iGaming reached an all-time high. Since then, new gambling sites have been launching every month.
One of the reasons people are embracing iGaming is because they are many ways to deposit and withdraw your money safely. Some of these payment options allow you to send as little as $1 to as much as $100,000, all while paying minimal fees.
In this article, we’ll look at some of the safest payment companies for banking at betting websites. Let’s get started.
Credit/Debit Cards
In almost every place where online gambling is legal, credit/debit cards are the most popular payment methods. Visa and MasterCard are the leading card networks around the world. But depending on where you live, you could also use Discover and Maestro for gambling payments.
How safe are credit and debit cards? For clarity, credit cards are different from debit cards. Credit cards allow you to use money loaned to you by a credit card company.
The best credit card companies take liability for fraudulent cases. So, if you lose your card or a hacker steals your credit card numbers and use them for fraud, you are not liable. Also, you can always ask for a chargeback in case you send money to a scam casino.
Debit cards, on the other hand, deduct money from your bank account. This means that in the case of theft, criminals could empty your bank account. Due to this reason, many financial experts believe that credit cards are safer than debit cards.
Still on card payments, many of them have adopted chip technology for security in the past decade. It’s much more secure than the traditional magnetic strip system cards used to have in the past. Chip technology encrypts your data in a way that makes it difficult to steal while you’re making payments.
Skrill
When Skrill launched in 2001, it primarily targeted two industries: online gambling and day trading. Due to that, Skrill quickly became known as one of the best payment methods for banking at online casinos.
But is it safe? Put simply, Skrill is a secure payment provider. It uses SSL to encrypt your data. It supports password protection and Two-Factor Authentication. Then it keeps your data protected and uses more technologies to protect its site from DDoS attacks.
Still on security, Skrill supports chargebacks. This means if you ever transact with a scam company, you can ask Skrill to reverse the payment. Additionally, the company has a safety feature called Skrill 1-Tap. It helps you make multiple payments while also keeping your sensitive data safe.
Another benefit is that Skrill is easy to use. All you need is a betting site’s email address or phone number. You can deposit between $10 and $10,000 at the best Skrill betting sites. And if you’re lucky, you can earn a welcome bonus in the process.
In case you’re wondering, Skrill supports debit and credit cards for deposits. It also supports Rapid Transfer, Paysafe, Neteller, wire transfer and Trustly.
Neteller
Neteller is Skrill’s sister company. Both of these payment methods are owned by Paysafe Ltd, yet another Britain-based payment provider. Neteller is similar to Skrill in many ways.
For starters, the digital wallet launched in 1999 to facilitate payments at day trading and gambling sites. Secondly, it is a secure payment provider that uses many of the security methods its sister site utilizes.
For example, Neteller safeguards your personal information through SSL. This keeps your data safe from hackers. Neteller also empowers you with a password, Two-Factor Authentication and the choice to determine which data the company can collect from you.
With that in mind, Neteller supports deposits through credit/debit cards and bank transfer. Although you might be charged to add funds to your Neteller account, sending money to betting sites is free.
PayPal
PayPal is arguably the largest e-wallet in the world. With annual revenues exceeding $25 billion per year, PayPal is large enough to be among the top 30 banks in the US.
People love the company for many reasons. One of them is that it takes security seriously. Whether it is about data protection or fraud prevention, PayPal has a solution to all major security threats.
Like many of its peers, the 2000-founded company uses SSL to safeguard people’s data. It also features common measures like Two-Factor Authentication and emphasizing strong password use.
However, PayPal’s biggest security selling points are its chargeback feature and One Touch. If you have disputes with a betting company, you can always ask PayPal for a refund.
On the other hand, One Touch reduces the number of people who view your data. It keeps your data while enabling you to transact with multiple merchants.
Bitcoin and Altcoins
Nowadays, you can deposit money to betting sites using crypto. You will need a crypto wallet to get started. Also, most crypto casinos support the major coins and not upcoming altcoins. So, have Bitcoin, Ethereum, Litecoin, USDT or Bitcoin Cash in your account.
Although crypto supports microtransactions, its miners’ fees can expensive at times. This is particularly true for Bitcoin. However, crypto is convenient for large transactions.
Security wise, no one disputes crypto as a safe form of payment. You don’t need to provide your email address or address when sending money. On the other hand, the funds are encrypted, making it impossible to hack crypto from the blockchain.
Bank/Wire Transfer
Bank transfer has its place in casino banking: Withdrawals. During deposits, everyone wants a fast and cheap payment method. Wire transfer is neither, especially when sending small amounts of money.
When it comes to withdrawals, wire transfer makes a lot of sense. Let’s say you win $100,000 at a betting site. Most e-wallets don’t support that kind of money. But your bank account can handle millions of dollars.
Bank transfer is also secure. It’s near impossible to hack. It’s trustworthy and it’s relatively fast at times.
