Online Games & Different Payment Methods: 6 Facts You Should Know
If you are going to play online casino games, then you need to understand how payments are made. Not understanding how payment processing works means that you won’t be able to get started or transfer profits to your bank account after you have won.
If you don’t know how to deposit or withdraw money from your casino account your ability to play will be limited.
There are many different payment methods that you can use to deposit money in online casinos. This post will tell you about some of them:
Cryptocurrency is a payment method that’s still in its relative infancy. While most people are familiar with cryptocurrency, very few know that you can use cryptocurrency as a substitute for fiat currencies when making payments online.
If you want to use cryptocurrencies to make deposits in casinos, then you are going to have to find a dedicated crypto casino. The reason for this is that crypto payments haven’t filtered down into the mainstream yet; they are still relatively obscure.
Some casinos specialize in specific currencies, like Bitcoin. Whatever crypto you hold, that’s the type of casino that you should find. The reason for this is so that you don’t have to convert your crypto into another one to play because you will have to pay fees for crypto conversion.
Fiat currencies are the most common way of paying on online casinos. You can pay using fiat currencies by submitting your debit card details and depositing money directly from your bank account.
On a side note, if you are making a deposit on an online casino then it is a very good idea to use a VPN. The reason that you need to use a VPN is that the internet’s overrun with cyber criminals.
Any transactions that aren’t encrypted can be intercepted by criminals, which can lead to them getting your financial information. If a cybercriminal gets your financial information then they will be able to use it for fraud.
Using the Phone
While phone payments aren’t especially common anymore, some casinos do allow them. Phone payment is when you call a specific number provided by the casino, and the money for your account deposit is taken from your credit. If you have a phone contract, then the money taken will be deducted at the end of the month. If you top your phone up yourself, then the money will be taken from your available credit. This is a great method of paying if you don’t want to submit any of your financial information to the casino.
Payment processors are also sometimes accepted by online casinos. Payment processors (like PayPal) can be used as an intermediary between a person’s account and a service or product that they want to purchase.
One of the advantages of using payment processors is that you don’t have to submit your bank details. However, you also have to pay fees when you use payment processors, which means that you lose a little bit of money with every purchase and deposit that you make.
Because of the fees charged, more and more casinos are starting to refuse to accept these payment processors, because they reduce their profits.
Bonuses are financial gifts given to people by casinos to incentivize further play. Most casinos will give players bonuses of up to 5-10% of their first deposit.
Some casinos will give players bonuses even if they don’t make a deposit, as long as they register an account. Typically, the bonuses are given to players as free slots, however, sometimes money is also given.
With bonuses, you can only withdraw them and take your profit once you have earned more through gambling than the amount that you were given as a bonus.
Bonuses are an effective way of making money from nothing, so they are definitely something to consider if you want to take up online gaming.
A rather antiquated, but still possible, method of depositing money in online casinos is to send the casino a cheque. You can also sometimes just put money directly in a card and send it to a casino.
This is only a method that’s likely going to be possible for you if the casino that you want to play on is hosted in your country, since sending paper money internationally isn’t recommended.
Whether you send a cheque or cash, make sure that you research and confirm the site’s mailing address before sending.
If you want to play in online casinos, then the first step is to make a deposit. When you have money deposited in your account you can go ahead and start playing.
Usually, you will have to have a bank account attached to your account in order to withdraw money. If you are using a crypto casino, you can withdraw directly to your crypto wallet.