Getting Started: A Beginner's Guide to Online Casino Payments
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If you are a new gambler, there some things you must keep in mind to conduct safe and successful payments at online casinos. Don’t worry, our KingCasinoBonus.com team has got you covered. In our guide, we’ve mentioned the most commonly accepted payment gateways at many online casinos.
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Understanding Payment Methods and Terminology
In the following section, we’ve decided that the easiest way to encompass the guide regarding online casino payments is to show you the terminology and actual payment method to offer you a shortcut. Keep going with this article to discover the concepts that will guide you through making online payments in 2023.
Commonly Used Payment Methods
Let’s begin with the most common payment-related terms you’ll encounter at any trustworthy online casino.
- Payment methods (Or Payment Gateways): The available ways the casino accepts deposits and withdrawals—for example, online bank transfers, e-wallet systems, etc.
- Deposits and Withdrawals: The process of putting in and taking out funds from your casino account using online payment methods.
Every best online casino will offer a few or all of the following payment gateways:
- Credit and Debit Cards: You can make direct online transfers at new online casinos using your bank’s cards; they have a 16-digit unique number (required for online payments), magnetic strips and expiration dates etched on their backside.
- E-wallets: There are several top online virtual wallets where users can store funds. You can provide your wallet address to conduct direct transactions—for example, EcoPayz, Skrill, and MuchBetter.
- Prepaid Vouchers: These are cash-based online payment methods based entirely on vouchers with a unique 16-digit ID. This method doesn’t require your bank or personal details—for example, Paysafecard.
- Bank Transfers: This gateway involves transferring funds from one bank account to another. Since it takes greater time to lodge a deposit or withdrawal request, the process is tedious compared to the others.
- Pay by Phone: To carry out instant payments, one can quickly pay through different payment applications on one’s phone. For example, Google Pay and Apple Pay are standard options.
- Crypto Payments: These transactions are based on blockchain technology, are 100% anonymous, and occur at lightning speed. The most trusted crypto tokens for in-casino transfers are Bitcoin, Ethereum, Tron, Doge, Litecoin, Bitcoin Cash, Ripple, Cardano, and others.
Payment Methods Table
There is undoubtedly a lot to remember, as online casinos offer numerous payment methods. Most casino players are confused regarding the difference between debit and credit cards. Their primary distinction lies in how they allow you to spend money.
Debit cards allow you to spend money you’ve deposited in your bank account, so your bank balance limits you. On the other hand, credit cards offer you a line of credit against which you can borrow the required amount and pay it back later within the grace period. However, using your credit card to gamble is prohibited by the UK, Germany, and Ireland governments. Belgium has also imposed stringent restrictions on the same.
We’ve provided a detailed table regarding online gambling sites’ most common payment methods. Check the payment processing fees and average withdrawal time it’ll take if you decide to use a particular method.
| Payment Method | Withdrawal Allowed? | Average Withdrawal Time | Fees |
| Debit and Credit Cards | Yes | 1-3 days | No |
| E-wallets | Yes | Under 1 day | No |
| Prepaid Cards | No | Not available | No |
| Pay by Phone | No | Not available | No |
| Cryptocurrencies | Yes | Instant | Yes |
| Bank Transfers | Yes | 2-5 days | Yes |
Payment Methods and Bonuses
The primary element that attracts users to any online casino site is its range of bonuses and other promotional incentives. Web casinos are known for the vast variety of promotions they offer their new and regular players. For instance, a beginner can enjoy a no-deposit bonus directly after signing up or receive a welcome bonus right after making their first deposit on the platform. Other bonuses for regulars include reload bonus, cashback bonus, free spins bonus, and many others.
Some casinos offer certain bonuses only to players using a specific payment gateway. For example, there might be a 100% deposit bonus for crypto users or a 15% cashback deal for e-wallet users alone. Always check if your preferred site offers such bonuses based on payment methods while choosing an online casino. If yes, choose it to make your deposit and get additional incentives.
However, the sad part is that Skrill and Neteller users are commonly excluded from promotional deals. Since these e-wallet services don’t procure much information from their users, casino operators find it hard to keep track of payments made using these methods.
Best Example:
When searching through the Ripper Casino bonuses, we’ve found that you can grab a bonus if you’re a NeoSurf customer. All you have to do is deposit via Neosurf a minimum of $20, type the code SURF200, and enjoy a 200% deposit offer. Remember that this bonus is bound to a 30x wagering requirement, which is easy to complete. For additional info, check Ripper Casino T&C.
Making Your First Online Casino Payment
Making an online payment at the casino you choose might sound challenging, especially if you’re doing it for the first time. In case you’re worried about how to proceed, we’ll list the steps for you:
- Sign up with an online casino after visiting its official site.
- Fill in all the relevant information, like your username, password, email ID, etc.
- Tick the checkbox that asks if you want to receive the site’s welcome bonus (if available).
- Now, confirm your email account by clicking the confirmation mail sent to your email address. Finally, you’ve completed your registration.
- Move to the casino’s cashier section, choose your preferred payment method and currency, and enter the amount you want to deposit. Fill in the deposit bonus code (if there’s any).
- Your payment request will be processed, and your deposit will be made in a few minutes, depending on your online payment method.
In some cases, the casino may also ask for extra documentation in the form of KYC for verification purposes.
Submitting Additional Documents
Top online gambling sites may require additional identity checks before you start wagering real money on their site. Completing the KYC is easy and usually takes a few minutes. Fill in the required information like your name, address, age, some government-issued ID (passport or driver’s license), and proof of address (utility bills or bank statements). Sometimes, the casino might also ask for your selfie with your government ID.
The KYC documentation ensures excellent safety for your funds and allows casinos to guard themselves against attempted money laundering. Thus, it’s a compulsory verification process at many casinos before you can proceed to payments. It increases transparency among dealings and safeguards the casino and its users.
Ensuring Smooth Transactions
The world of online casinos holds a great deal of gaming fun. But, the payment procedure must also be smooth and efficient to guarantee a wholesome casino experience. You might face unprecedented problems when you are new to making payments, but there’s no need to worry. Keep reading to learn the possible problems you might face and their recommended solutions.
Avoiding Transaction Hiccups
As a player, trying to avoid any interruptions in the transaction process is essential. Keep these tips in mind to have a straightforward payment process:
- Check the fees applicable on your chosen payment gateway.
- Before you proceed to the transfer, ensure your amount is within the upper and lower transaction limits. If not, the request will not be approved.
- Verify your account and remember to complete the KYC procedure before making a payment to avoid interruption.
- Remember the recommended time specified for your chosen method. Contact the casino’s customer support team if your payment hasn’t been processed within the prescribed time limit.
Troubleshooting Problems
While you might face unexpected glitches in making payments, we’ll help you make your way out of them!
- If your payment request has not been processed, check if you’ve completed the KYC documentation process successfully (provided all details and uploaded the required documents). Your payment might be put on hold owing to security reviews or verification concerns.
- You might not have wagered your casino funds if your withdrawal has not been initiated. Once you deposit into your casino account and claim a bonus, you must wager that amount a few times before withdrawing it successfully. Check your casino’s wagering requirements in their Terms and Conditions section.
- If your fund transfer hasn’t been completed within 1-2 working days, be patient and contact the customer support agents to determine what’s wrong.
King’s Final Recommendations
Making online casino payments may be troublesome for new users. But it’ll seem pretty easy once you’ve done it once or twice. Try using popular and modern payment gateways that promise low transaction times and easy withdrawals. Undergo all necessary verification, keep an eye on the payment limits, check the wagering requirements, and remember our tips to have a hassle-free payment experience in the online gambling world.