There are a variety of secure online casino payment systems available to players. Some are via banks, others are via a system known as digital wallets or ewallets.
Online Casino Payment Systems and Security
When gambling at an online casino it is necessary for payments to be made to and from the casino, known as deposits and withdrawals. This is similar to the way an online banking system operates. Security for online payments is extremely important.
Nearly all online casinos operate with an encrypted SSL (Secure Sockets Layer) protocol system, so that confidential information cannot be intercepted by hackers. This protocol protects sensitive information like credit card numbers and passwords which, could otherwise be readable. Most casinos use 128 bit encryption systems which are highly secure and the same as used by the online banks.
Most online casinos operating with SSL will display details of their SSL Protocol system on their website. It is easy to see if a website has SSL encryption because your browser will display a green padlock to the left in website address bar. Also, the web address will also display the https protocol at the front.
It is advisable to ensure you are using an encrypted connection when you are making financial transactions over the internet.
Most online casinos offer a wide variety of payment systems; here are some of the most popular options for online casino payment:
Using your Bank
It is usually possible to deposit funds by direct wire transfer over the internet and you can even send a cheque to be credited to you account.
The most popular instant online payment method is by using a debit or credit card, e.g.: Visa, Mastercard, American Express etc.
Third Party payment systems
The advantage of using one of the third-party online payment systems is that it is instant. There is no need to wait for your bank to make the transfer.
These third-party payment systems are often described as ewallets or evouchers. It is necessary to set up an account but once you have done that, so they are simple to use.
Third party systems are widely used by the online Casinos and you will find that most have a good choice of payment options. They all use encrypted security technology.
One of the advantages of using a third-party system is that your bank does not know the identification of the Payee.
Common Online Payment Methods
Paypal is probably the most popular and best trusted system. It has been owned by eBay for the past ten years. It is very popular in the US and the UK.
Skrill, formerly known as Moneybookers, operates widely across the US and Europe. They have over 28 million customers.
Moneygram was established in 1940 but diversified into online payment systems to expand their business activities.
Neteller probably has the most business for online gambling payments since 2000. In 2005 they processed over 80% of the worlds gambling payments.
Paysafe is a prepaid card which gives you access to a whole range of goods and services online. You can buy a card in hundreds of thousands of retail outlets. Payment is by PIN code.
Click2Play, this system originated in Germany but is now International, operating in 190 countries.
Please be aware that in most cases when you make deposits at an online casino it will be instant. You are advised to read the terms and conditions regarding withdrawals because some casinos will take several days to complete the transaction.
When making withdrawals, if you signed up to a special offer where you received cash bonuses it is possible that you will not be able to make a withdrawal until you have won many times the amount of that bonus. Please read the terms and conditions carefully.
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