Why are Alternative Payment Methods Offered by Online Casinos?

There are many reasons why fully licensed online casinos that are controlled by reputable operators offer a wide range of alternative payment methods in addition to the standard payment methods, such as Visa and MasterCard. Some of the most popular alternative payment methods that are favoured by online casino players are e-Wallets (which are also often referred to as digital wallets or web wallets).

Here is a closer look at why online casinos offer alternative payment methods. 

What is an alternative payment method at an online casino?

In the early days, an online casino pretty much had just one or two secure online payment methods available for registered members. For example, you could only deposit and withdraw at the casino using either a Visa, MasterCard or Maestro credit or debit card. As the years went by, people became aware of how credit card details could easily be stolen by hackers, so instead of using their credit or debit cards to pay for things online, people started looking for alternative methods. 

Major reliable online payment solutions started popping up, such as PayPal, and online casinos started accepting these methods. When you visit an online casino today, head to the cashier section, and you will now be able to find anywhere from five to twenty or more fast, secure, and reliable online payment methods to choose from. The best thing to do would be to try and find a method that processes deposits AND withdrawals. 

What other alternative payment methods are there?

Asides from PayPal, one of the world’s leading e-Wallets, there are several other e-Wallets that are also now accepted at online casinos, such as Skrill and NETELLER. You can also deposit and withdraw to and from your personal bank account using the direct bank transfer method. Prepaid cards, such as Paysafecard, are also popular among online casino players. Some of the other reliable payment methods that certain online casinos accept today are American Express, EcoCard, ecoPayz, PayNearMe, Citadel, ClickandBuy, eCheck, iDeal, and Instadebit. 

The exact payment methods that you will have available to you normally depends on which country you are based. For example, a payment method that’s favoured by New Zealand players called POLi would not be available for UK players. In addition, by law, UK players can NOT use credit cards to deposit at online casinos, which is another reason why alternative payment methods have become so popular with players around the world. 

Can cryptocurrencies be used at online casinos?

Yes. However, only a handful of online casinos accept cryptocurrencies, such as BitCoin, as a viable payment solution. At the time of writing, there are NO UK online casinos that are licensed by the UK Gambling Commission that accept BitCoin or any other cryptocurrencies. The only casinos that accept this particular payment option today are mainly the US-focused casino sites that operate from outside of US jurisdiction. 

Bitcoin is also accepted at certain online casinos that operate in mainland European countries, such as the Netherlands. For example, a growing number of Dutch online casinos now allow players to deposit and withdraw using this popular cryptocurrency.