Online casinos have been operating since the 1990s.
Back then, players could spin slots and play a round of poker.
However, a lot has changed since then.
Online casino game libraries have become a lot richer, featuring games like blackjack, roulette, baccarat, and even some lesser-known options like Sic Bo.
Players can even access live version of the aforementioned games.
However, that is not the only thing that has changed.
Payment methods have evolved as well.
Credit cards are no longer the only option.
In fact, as you will see here if you decide to play at an online casino, there are a lot more choices to choose from.
In this article, we’d like to talk about the pros and cons of the different payment methods.
Credit Cards
Credit cards are a classic choice.
As we said before, once upon a time, they were the only choice.
However, despite the numerous options to choose from, a lot of gamblers still prefer credit card-based deposits.
Therefore, it is important to know what makes them good, and what they lack.
- Credit Card Pros
Not only are credit cards widely available, they are also intuitive.
Most people from all generations already use credit cards and understand how they work, so there is no learning curve to go through.
As for the gambling aspect, credit card transactions are usually processed quickly, which is a plus.
- Credit Card Cons
The biggest downside of using a credit card is that you have to live with constant security concerns.
On top of that, some casinos may demand fees when you wager using your credit card.
The worst part is that there are sites that don’t allow withdrawals back to the card.
Digital Wallets
Digital wallets, or e-wallets, are a relatively new trend.
As the name suggests, they are a money storage tool that exists online, and can be accessed through an electronic device, such as the phone.
Many new gamblers love e-wallets. Let’s find out why.
- E-Wallet Pros
The first reason is that e-wallets provide both safety and anonymity, two things which you almost certainly lack with credit cards.
On top of that, the transactions made through an e-wallet are just as fast, if not faster than those made with a card.
- E-Wallet Cons
The biggest downside of a digital wallet is the transaction fees you will have to pay. They are often quite high, and many don’t like going through the hassle.
On top of that, some casino bonuses may not work with digital wallets.
Bank Transfer
Finally, there is the direct bank transfer option.
Though complicated, a lot of gamblers have settled on this one, because it makes them feel safe.
Of course, there are other reasons as well. Let’s find out what they are.
- Bank Transfer Pros
The biggest benefit of using direct transfers is that gamblers can make exorbitant bets.
In other words, this option is great for high-risk/high-reward gamblers.
Banks are also famous for their tight security, so bank transfers are quite safe.
- Bank Transfer Cons
For their service, banks require a lot of fees.
So, expect that using bank transfers will result in some rather exorbitant fees for the gambler.
On top of that, they are complicated to manage.
