Many gamblers decide to use their credit or debit cards while gambling. It is a good alternative because it’s always available and easy to use. However, it could lead to unexpected and sometimes painful charges on your card statement.
This article will go through many different payment methods you can use at online casino India and what ease they offer so that you can make an educated decision when choosing your payment method
1. Card payments
Debit and credit cards are the most popular form of payment for online casinos because they are easy to use, secure, and simple to set up. Many online casinos will have you fill out a quick application to verify your identity before you can start using your card at the casino.
This is usually required in order to combat money laundering and fraud as well as underage gambling. Once your account is verified, you can start playing with your card as normal.
You will usually need to provide your credit or debit card number for the different casinos you want to play and the amount of your purchase. Likewise, you will need to enter any security codes on the back of your card each time you use it.
Some online casinos will even sell information about how much you have played and what real money casino games you have played to target more ads toward you as a customer.
While this is a good thing for the advertisers, it’s also a bit of an invasion of privacy on the online casino’s part.
Most credit and debit cards allow you to play online casinos with their money without having to pay for anything upfront. You will usually only be charged after you have withdrawn your winnings from the site.
If you win enough money or place high bets, you might also have to pay a small fee to get your winnings back.
2. Gcash
Gcash is a cash advance card that you can use at online casinos. The card is issued by Credit Karma, a company that specializes in issuing cash advances and financial education.
The Gcash card has an initial fee of $10 and additional fees ranging from $3 to $10 for each subsequent transaction. Like most cash advances, the costs are added to your credit card statement rather than going directly to your bank account.
The good thing about Gcash is that it’s accepted at almost every online casino. So if you use Gcash, you will not have to contact each casino and ask if they accept the card.
3. Skrill
Skrill is a popular online payment method that is also used by many brick and mortar casinos through a partnership with the company Neteller.
Skrill is a prepaid card like the Gcash card, except you can get it for free. There is a $10,000 transaction limit on Skrill, and it takes about one week for your money to reach the online casinos.
Gcash and Skrill are both similar in that they are accepted at almost every online casino. Your money will also be available to you more quickly with Skrill than with other cards.
4. Paypal
Paypal is another popular online payment method that you can use to play at casinos. Paypal is one of the best ways to make deposits and cashouts at online casinos.
Paypal offers several advantages over other cards like Gcash and Skrill because it’s accepted by an even larger number of online casinos.
The biggest disadvantage with Paypal is that you will have to deal with the company’s fees. Unlike Gcash and Skrill, Paypal will charge you a fee for any money that you withdraw from your account. In addition, there is no $10,000 transaction limit on Paypal, but there is a $2,500 withdrawal limit.
5. Bank Transfer
Some casinos like Intertops and Intercasino also accept bank transfers. Bank transfers are one of the safest ways to make online transactions. Unlike Gcash and Skrill, it can take several days for your money to reach an online casino when you use a bank transfer.
The advantage of bank transfers is that they don’t have any transaction fees like Gcash, Skrill, and Paypal do. So if you’re going to transfer large amounts of money to online casinos, then a bank transfer might be the best option for you.
The currency of the United Kingdom is the pound. Therefore, the currency is also known as Pound Sterling. For online casinos in the United Kingdom, you’ll be dealing with English pounds. Playing at a UK online casino means you’ll have to familiarize yourself with the currency because one pound is divided into 100 pence. The most popular currency used by UK players is the US dollar, so this is the one you most likely will be dealing with.
6. Cryptocurrencies
Cryptocurrencies, like Bitcoin and Ethereum, are another form of payment that is getting popular. While you don’t need to worry about exchanging your cryptocurrency for fiat money, you need to worry about a few things. First, you will need to worry about how long it will take for you to get paid. The longer it takes for the funds to reach your account, the more they will lose their value.
You also have to keep in mind that the prices of cryptocurrencies can fluctuate instead quickly. So there’s always a chance you could make or lose money on investments. Just like using a credit card, the way you use cryptocurrencies can be tracked by online casinos. Some casinos will sell your information in order to send you more targeted ads.
Cryptocurrencies are still relatively new, so it’s hard to predict how well they will do when compared to other payment methods.
Closing Notes
Paying and getting paid at online casinos can be a little tricky for new players to get used to. However, the more you familiarize yourself with them, the easier it will become. Just remember to choose your payment method wisely. The method you chose can impact how much money you make or lose in your bank account.
