Online Gambling: Guide to Choosing Payment MethodPublished July 24, 2013
Before gambling online, you should decide which payment option is best for you.
Before gambling online, you will need to make a few important decisions. You must decide which form of gaming to start with, whether it be casino games, sports betting, poker or bingo. You must choose your operator (the best of which are listed on the homepage). Finally, but just as importantly, you must select a payment method.
Understanding Different Payment Methods
The three most popular online gambling payment methods are credit cards, debit cards and web wallets (also known as e-wallets or digital wallets).
Credit cards are the most traditional method, as most people own cards issued by Visa, Mastercard or Amex. Credit cards have the same function at online gambling sites as they do at the mall – the user can deposit their casino account with one of these cards, and see the charge on their bill at the end of the month.
Debit cards have become an increasingly convenient way to purchase goods and services, including online casino deposits. These cards are generally issued by banks, but unlike credit cards the value is deducted automatically from your connected account. This is a good option for those want to keep track of what they are spending and not risk nasty surprises later on.
E-wallets are now one of the most popular ways of purchasing good and services online, as they cut out the banks and ensure no personal information is shared with vendors. Purchasing an e-wallet account is quick and easy, and many find this to be the best method of funding their casino, poker or sports betting account.
What Do Canadians Prefer?
Like other global citizens, Canadians have come to rely strongly on credit cards such as Visa and Mastercard for all their online shopping needs. However, research shows that Canada residents also enjoy using some of the leading e-wallets, namely E-Check, InstaDebit and UseMyBank. Other popular e-wallets available to Canadian online gamblers include Skrill (Moneybookers), UKash and Click2pay.
How to Withdraw
Online gambling is all about having fun, but you want to win some money too, right? Some payment providers (such as Mastercard) generally only work for deposits, while most others (such as Visa and e-wallets) work for withdrawals. If you’re unsure how to withdraw your winnings using your chosen payment method, contact your online gambling operator’s customer service via phone, email or live chat to find out if there are any special requirements.