Konstantin Shenkov September 10, 2021
With a growing number of players gambling with online casinos these days, more alternative payment methods are emerging and some of these are going viral. Players are concerned about providing online casinos with their sensitive financial details so are steering clear of conventional payment methods such as bank transfers.
The owners and operators of online casinos know that a lot of players are not happy to divulge their sensitive information so they are embracing new ways to make deposits and withdrawals. It is not beyond the reals of possibility that an online casino can be hacked and their data breached. This means that thousands of sensitive personal records can fall into the wrong hands.
Online casinos need to abide by certain know your customer (KYC) rules if they are legitimate and have a proper operating license. You always need to check that any online casino that you want to play at has a valid license. If an online casino does not have a license, they can basically do whatever they want which includes robbing you of your winnings.
The main reason for the strict KYC rules in online casinos is to prevent money laundering. It is OK with most players for the online casino to have details stored of their name and address for example, but they do not want their credit card or banking details stored by the casino. As a result of all of this, a lot of new online deposit methods have become available.
Some of these deposit methods are more popular than others. We will take a look at the most popular methods here and comment on why they have gone viral since being introduced. It is great to know that there is so much choice for deposit methods these days. More innovative services are likely to follow as well.
Please bear in mind that some e-wallet services are only available in certain countries. The most popular e-wallet service is PayPal which is available in a lot of countries. In some countries though, there are strict rules about using a credit card linked to your PayPal account to make deposits. This is not permissible in the UK for example.
The disadvantage of using e-wallet services to make deposits at online casinos are the transaction fees that they charge. In a lot of cases, the fees are pretty low and it is still worth the additional protection to use the e-wallet service.
Make your deposits by Phone
Most people have a smart phone or tablet device these days and like to play casino games on these devices. So, it makes sense that services which allow you to make deposits using your phone are going viral.
There are a large number of pay by phone casinos available online now. You can choose from different payment methods with your phone. If you like the idea of using text messages to make your deposits then look for an SMS deposit casino.
Another deposit service that is really gaining in popularity is the Pay N Play service from Trustly. Here you can forget about registering with online casinos that accept this payment method. Just make a deposit using Trustly Pay N Play and you can start to play your favorite casino games almost instantly.
The transactions with Trustly Pay N Play are very fast and secure. Some online casinos will permit withdrawals using Trustly as well and these transactions are fast as well. Unfortunately, Trustly Pay N Play is not available to players in all countries. But they are working on this and gradually expanding their reach.
When you use Neteller you will not have to provide your financial information to the online casino. Transactions are quick and you will find a lot of casinos will accept this payment method. Manage your Neteller account using their secure website.
Using Cryptocurrencies for Deposits
One of the most viral methods for making deposits with online casinos right now is through the use of cryptocurrencies. Bitcoin is the most popular cryptocurrency but others such as Ethereum and Litecoin can also be used to make deposits.
The reason that making deposits using cryptocurrency has really taken off over the last few years is that players can remain anonymous when they do this. Cryptocurrency uses blockchain technology that is much more secure. You can purchase cryptocurrencies through exchanges that will accept fiat currencies. To make a deposit you will need a crypto wallet.