Online Gambling Payments for Beginners

So you´ve made up your mind, chosen a licensed and verified gambling site you like and feel comfortable with.

It is now time to finally make a real money deposit.

Luckily for you, the online gaming industry is one of the hotbeds of payment solution innovation.

Not only does is it a hotbed for payment innovations, it also has to be very secure in order to comply with the standards set by the regulators themselves, as well as their payments providers.

Real, legitimate online gambling sites do not want fraud when it comes to their operations, as it literally may turn off their business.

They are not only accountable for massive amounts of funds, but also for massive amounts of sensitive data, such as:

  • Bank Account Numbers
  • Credit Card Numbers
  • Player Names
  • Player Addresses

If there is any type of security breach, they’re liable for a lot, so trust me when I say the real gaming sites know their stuff, and employ the best security teams.

Online gaming sites have some of the best security on the web

Not only would they receive bad press and unhappy customers, but if enough incompetence is shown by the operator, the merchant (payment supplier) may just turn off the service itself, preventing the site from accepting anymore payments via that specific method.

Keep in mind that if any payment method isn’t available to you or for some reason your deposit fails, always try another method, there’s usually plenty of ways to get your funds in. If all else fails, jump on the live chat or email the site’s support, who will be sure to help you out one way or another.

If you’re away from home, and find yourself getting blocked for some reason or another,  you can always use a VPN service and deposit your funds that way.

One important thing to note is the fact you will most likely need a credit/debit card or at least a bank account to make deposits and withdrawals easier for you.

If you don’t have any of those, you may want to look at physical payment cards you can get at retail locations, such as the payment systems set up by PaySafeCard.

The following are the most common online payment solutions used in online gaming.

  • Credit and Debit Cards:

We all know cards.

They’ve been around for years, you probably use them daily for your retail and online purchases.

There’s not much to expand on here. It’s definitely the most used method of payment in the online gaming industry, and it’s not looking to stop anytime soon.

It’s simple, as you only need to introduce your card details, the amount, and boom you’re ready to go.

Keep in mind, the country where you are and the actual company who is processing your card may have a block on gaming transactions, so if you find your card being declined but you’re sure it has funds, this may be the issue. Try your luck with any of the other methods we go over.

Any reputable online gaming site will have high standards regarding encryption and safety on the technical side of things, since it’s also a requirement for the operators to keep their licenses.

The only thing I would say is, if you’re playing on CREDIT, please know your limits and don’t spend more than you can afford. We’re just trying to have some fun here.

The major players in this space:  Visa, MasterCard.

  • Bank Transfers:

With Bank Transfer deposits, you’ll send money from any of your bank accounts straight to your online gaming account.

This will involve giving out account details and such, which may be uncomfortable for some people.

I’ve never had an issue, and when I worked for some operators, there was never any major reports of leaks or breaches.

Major Players in this space: Trustly, SOFORT

  • Pay by Phone:

In my mind, this is a great way to get money in any website, not just gambling ones.

You simply input your phone number and the amount you’d like to deposit, and boom, your money is in the account.  

Depending on if you’re on a prepaid or postpaid telephone plan, the amount will be deducted immediately or at the end of the month when you receive your phone bill.

No need to take your credit card out or register anywhere. If you’re on postpaid, it’s basically a way to play on credit as well.

The downside is there aren’t many countries that offer this payment solution, since the telecommunications operators also have to be on board with gambling payments coming through their networks.

  • Prepaid Cards:

Very similar to a standard debit card, except they’ll usually be for a one-time use.

You’ll be able to purchase them online (virtual card) or at physical locations.

They’ll either have a full 16 digit number similar to a credit/debit card, or they’ll have some kind of a code, which you’ll be prompted to input once you are in the deposit screen for this method in your website of choice.

The most widely used prepaid card seems to be Paysafecard, as they are all over most of Europe with a strong presence in some Latin American countries.

  • E Wallets:

In theory, an ewallet provides an extra layer of protection between you and someone trying to steal your information since they will only have your ewallet information, not necessarily your personal details and account or credit card numbers.

If you know PayPal, you know what an ewallet is.

Basically a middleman between either your bank account or credit card and any online site.

There are usually no fees to deposit funds using E Wallets, but they will most likely charge you when you decide to withdraw your funds, so before signing up, be sure to read the terms & conditions and pricing for withdrawals.

  • Cryptocurrencies:

Everyone knows bitcoin by now.

Same as with bitcoin, there are dozens of cryptocurrencies being used to deposit, play and withdraw winnings from gaming sites.

They offer varying degrees of anonymity, and for some people that is quite important.

In my opinion, because of the volatility of the currencies themselves, which are almost commodities at this point in time, keeping funds as crypto in gaming wallets is another unnecessary gamble.  

If you’re big on privacy, by all means please go ahead, it’s just that in my humble opinion, the technology isn’t quite there yet to make an enjoyable online gambling experience.

  • Cash:   

Everyone knows cash, but if a website is asking you to send over a Western Union, Moneygram, or Money Order…. STAY AWAY!

While you could have stumbled into one of the few legitimate online gambling sites that accept cash as a funding option, it really isn’t worth it taking the risk of being scammed.

Besides the hassle of actually going to a physical location to place the order, receive a tracking number, call back and submit it, then wait for the funds to be deposited, it’s just a really risky proposition.

You have no protection, since you’re sending the money “person to person” so there are no refunds once those funds have been picked up.

Trust me, stay away from cash deposits unless you’re betting a friend a fiver.

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