Over the past five years or so, online casinos have become little less than a global phenomenon. While the UK is very much seen as the “home” of the sector, there are new online casinos appearing across Europe almost every day. Interestingly, the global nature of the industry does not stop there, however.
Global transactions for online betting
It might sound trite to say that “everyone likes to place a bet,” but the way the global online casino market is shaping up, that very much looks like being the case. Different countries have different rules and laws regarding gambling, but the internet has done more to break down national boundaries than anything else in history. For example, there are numerous casinos in Germany that offer new members tempting introductory offers and websites where you can find out more about the specific free spins and bonus deposits available. But those potential new members could be arriving from all over the world.
This is good news for the casinos, as it brings in a whole new customer base, and good news for the customers as it provides an opportunity to indulge in their favourite pastime. However, it can potentially raise questions as to what is the best payment method for visitors to make quick, easy and safe deposits and withdrawals.
Factors to consider
Clearly, you want to be able to deposit funds to your casino account quickly, and you also want to be able to withdraw your winnings. You also need to know how quickly you can withdraw the funds, whether you will incur any fees, or conversely, whether there are any bonus incentives available.
Finally, countries such as the USA have restrictions on banks conducting direct transactions with online casinos. Just to be clear, the law does not prohibit online gambling, but it does prevent the bank from transferring your funds directly to or from the casino. In this case, users might be interested in indirect methods.
The simplest payment method is via your standard debit or credit card. All casinos will accept Visa or Mastercard, and you can use the same method to cashout, although payments typically take 2-5 days. It’s OK, but not great.
Direct bank transfers are typically not an ideal option. There is liable to be a delay of several days in transferring the money in either direction, and depending on your bank or location, you can find yourself facing swift fees for every transaction.
For many, the arrival of e-wallets and virtual currencies such as Bitcoin have been seen as the perfect payment method for online gambling. For those in geographies where there are payment restrictions, opening an e-wallet with a provider such as Skrill or NETELLER is really a no-brainer. Payments both to and from are as quick as lightning, and you will get a 10 percent bonus when you open your account.
Even better, these providers will also provide an ATM card, providing instant access to those cash