Gambling on the internet is fun, but it’s important for players to remember to ensure they use safe and secure methods to fund their accounts with.
Online casinos have benefited from technology developments in recent times, with a vast array of payment methods available to players.
Debit/credit cards and bank transfers have been the most popular payment options, but electronic wallets and Bitcoin have enjoyed a big increase in use over the past few years.
Read on for our top three ways to fund your online gambling activities.
Debit cards deduct funds directly from a payee’s bank account, although there is often a delay of a couple of days before transactions show up on your bank statement.
Payments can be refused if there are insufficient funds in the account, making this a useful way to keep control of your finances.
Credit cards allow users to make a purchase ‘on credit’. The credit card company pays the merchant and payment is made by the card holder at a later date.
Most credit cards charge fees and interest for their use and they can be an expensive way to fund your gambling.
Both types of cards are the most popular way of depositing and withdrawing funds from online casino Sun Bets accounts, with Visa and Mastercard the two most well-known providers.
An e-Wallet is an electronic purse which allows you to make online payments by using an email attached to your account without divulging your personal details.
Paypal, Neteller and Skrill are amongst the most popular options, and many of the leading online gambling companies now encourage players to use this method to fund their accounts because it is fast, secure and easy to use.
An e-Wallet acts as a buffer between your bank and your casino account, giving players an additional level of security.
Money is sent from your bank account to your electronic wallet, and can then be used to fund your online purchases.
In an era where it can be difficult to identify whether an online operator is legitimate, e-Wallets provide players with additional peace of mind when they are using gambling websites.
e-Wallets can also help people to manage their finances better, as they give players the option to set aside a specific bankroll for their gambling activities.
Launched as a peer-to-peer payment method by Satoshi Nakamoto in 2008, Bitcoin’s popularity has soared over the past few years.
Bitcoins can be obtained by ‘mining’ a high-tech process where the miner is rewarded for payment processing – or in exchange for standard currency, products or services. Users can send and receive Bitcoins through e-Wallet services such as Bitcoin Core and Multibit.
Both players and operators benefit from Bitcoin payments, as there is no exchange rate risk. Transactions are seamless and players can usually receive their online casino winnings the same day as they make a withdrawal.
Traditional payment methods such as debit/credit cards or bank transfers can carry an element of risk, and this has paved the way for the increase in the use of e-Wallets and Bitcoin.
With easy to follow deposit and withdrawal options, this growth seems certain to continue in the future as players look to find the most safe, secure and speedy payment methods possible.
Both E-wallets and Bitcoin have their advantages in terms of additional security, although it remains to be seen whether they will ever overtake the popularity of card payments.
The use of chip and pin on debit/credit cards makes it harder for online fraudsters to access your account and they seem sure to be around for the foreseeable future.