Online Casino Payment Methods
The online casino industry is more developed than ever, and Americans can choose from plenty of available payment methods to make deposits and withdrawals. However, many newcomers aren’t sure which payment option is the best one for them, so we decided to make an ultimate guide to online casino payment methods in the US.
We’ll cover all the major banking options for online casinos and discuss their main advantages and disadvantages. Therefore, before making your first deposit, make sure to read our guide and get familiar with the available options.
What deposit methods are available for Americans?
Let’s look at some of the most common payment methods for American players. Please consider that not all casinos offer all these methods. However, you should be able to find most of the options on all popular online gambling platforms in the US.
Mastercard
Mastercard is one of the most popular banking options worldwide, and it also happens to be the most convenient for online players. It offers both credit and debit cards, and online casinos often accept Master prepaid cards as well. In most cases, Mastercard is obtained via your bank or any other financial institution.
Mastercard is easy to use, as all you must do is enter your card number, security code, and expiration date to connect it to the casino of your choice. After that, you need to enter the amount you’d like to deposit and proceed with the payment.
This type of payment method is very common in online casinos, and the fees are so small that you won’t even notice there was one. This is exactly why many Americans consider it the best deposit option. On the other hand, many casinos don’t offer Mastercard for withdrawals as well, meaning you’ll have to use another option if you want to cash out your winnings.
Visa
Visa is the biggest competitor to Mastercard, as the two credit and debit card brands have been widely regarded as the most popular in the world. Everything we said for MC stands for Visa as well — you need to be a member of a bank to get a credit or debit Visa card.
It’s connected like any other card, which means you must enter the card number, security code, and expiration date and confirm every transaction using your PIN or some other kind of two-factor authentication.
The company behind Visa is headquartered in the US, and it’s no wonder that Americans love using this card for online transactions, including online casino deposits. The fees are also so small that you won’t even notice them. Like Mastercard, Visa is often not available for casino withdrawals — only for those who want to make a deposit.
PayPal
PayPal is an e-wallet and lets you keep your funds online, making it convenient for making online payments. It was founded back in 1998 as Confinity but was later rebranded to PayPal, becoming the most popular online payment method.
The main advantage of PayPal is its convenience and security. It lets you pay for things on the Internet in just a couple of clicks, and online casinos are no exception to this rule. Moreover, almost all legal online casinos in the US accept this payment option for both deposits and withdrawals.
Still, PayPal has one slight disadvantage when compared to other payment options — its fees. Online wallets are widely regarded as more expensive than many other deposit and withdrawal methods. On the other hand, there’s a good reason they are expensive, as many people are willing to pay extra for enhanced security and convenience.
American Express
American Express is another brand of credit cards headquartered in Lower Manhattan in New York City. The company has a very long tradition as it has been offering financial services since 1850.
Amex cards are very popular in American online casinos, but they are still not a match compared to the popularity of Visa and Mastercard. The good news about American Express cards is that you don’t need a bank account to use them. In other words, it’s not the bank that issues your cards (which is the case with Visa and Mastercard), but rather American Express itself. Simply put, Amex is both the issuer and the payment network.
Connecting an Amex card to your casino is like the process of connecting Mastercard or Visa. All you must do is enter the essential card information and proceed with the transaction. There are several types of Amex cards, so make sure to choose the right one for you.
Discover
Discover is the fourth and the least popular member in the credit/debit card family. It’s not as big as Amex and not as popular as Visa or Mastercard. Does that mean its service is worse compared to other card brands? The short answer is no. Like in every other industry, less popular companies aren’t always worse. It’s just that their brand isn’t as popular as the other one.
Discover is available in many casinos, but the number of platforms accepting it is still lower than the casinos that accept Visa/Mastercard.
Other than that, Discover is a pretty decent card with low fees and instant transactions. Therefore, if you have a Discover card, you won’t have to look for an adequate casino for long.
Discover is primarily issued in the US. If we were to judge by the number of cardholders inside the USA, Discover is more popular than American Express (however, it’s not more popular globally).
Paysafecard
Paysafecard is an online payment method that’s independent of any e-wallets or bank accounts. All you have to do is purchase a voucher at your local sales outlet. After that, you need to enter the code in the online casino that accepts Paysafecard to make a payment. Many casino players prefer Paysafecard as they don’t have to leave any sensitive data in the process, which makes it a quite secure payment option.
Paysafecard is accepted in many American online casinos, but their number is still much smaller than the number of casinos that accept PayPal or credit & debit cards. The good news is that Paysafecard has been continuously improving for the last couple of years as many people started to realize how convenient it is.
Moreover, Paysafecard isn’t available for withdrawals due to the very nature of this payment method. However, it’s one of the most convenient deposit methods.
Skrill
Skrill is also an online wallet where you can store your money, much like PayPal. However, it’s nowhere as popular as PayPal, meaning the number of casinos in the US that accept Skrill as a payment option is much smaller.
Skrill and Neteller had been ferocious competitors before the same company purchased them. Nowadays, both of them offer similar deposit and withdrawal fees and limits.
Since Skrill is an e-wallet, it also comes with great security levels and convenience. That’s the main reason why it also has relatively high fees compared to other payment methods.
Moreover, make sure that the casino of your choice offers bonuses for Skrill and Neteller depositors, as we noticed that gambling platforms sometimes don’t allow welcome bonuses if you use these payment methods.
Echeck (ACH)
Echeck is short for an electronic check, and it’s sending the virtual counterpart of real-life checks instead of sending the paper itself, which could take days before it’s processed.
Other names used for this type of payment are internet check, online check, or direct debit. Echecks use the Automated Clearing House (ACH) to direct debit from the customer’s checking account to the casino’s bank account using the help of payment processors.
Using eChecks may be a bit more complex than other methods, and you may still have to wait 1 – 3 business days before they are processed.
Some casinos accept this payment method, but many casino players consider it slow and outdated. However, this is one of the safest ways to send money over the Internet, which is why some players still like to stick to it.
Other common payment methods
Let’s look at some of the payment methods that are also very common in online casinos in the US.
Play+ Card
Play+ card is a special type of payment option tailored for online gamblers, and it’s accepted in many legal online casinos, such as Golden Nugget and Borgata. Every casino offers different benefits if you select to use the Play+ prepaid account. Apart from enhanced deposit limits and instant transactions, you can enjoy a wide array of benefits, such as cashback on account loads, no transaction fees, higher VIP limits, and more.
Even though it’s very popular among players, not all casinos offer Play+, so make sure to check the banking section before joining a gambling platform to see if Play+ is available.
This payment option is really useful for active players and high rollers as the real difference is made once you start reaching upper levels of VIP programs and are allowed to make huge transactions on the platform.
Bank Wire Transfer
Wire transfer is the most traditional type of payment method, and many players still regard it as the safest option out there as your bank will make the transaction, meaning you’re legally covered in every aspect. Almost all online casinos licensed and regulated in the US offer this type of payment for deposits (and often withdrawals).
There are a couple of disadvantages to this payment option, with the biggest one being speed. If you want to use this method, prepare for waiting five to seven business days to get your transaction. Also, you should take into account that minimum limits are usually high, meaning you cannot deposit small amounts of money in one transaction. In most cases, depositing less than $50 isn’t possible (sometimes even more).
Long story short, Bank Wire Transfers are safe and secure but much slower than all other payment methods.
PayNearMe
PayNearMe is one of the youngest payment options for online casinos, as it was established back in 2009, with its current headquarters being in Silicon Valley, California. It allows you to deposit certain brick-and-mortar stores that feature this payment method. The majority of 7-Eleven throughout the US have PayNearMe, which means you’ll have to leave your home to make a payment.
The maximum deposit limits for this type of payment are usually very low — up to $500. Therefore, it’s a great option for casual players, especially those who like to play casino games on the go. It takes approximately 30 minutes before your payment is processed and your funds arrive in your casino balance.
However, if you prefer playing games with more money, PayNearMe might not be the best option for you.
This payment method is accepted in many legal US casinos.
Cash
Finally, the popular Cash at Cage option is available for all online casinos with a land-based representative. All you have to do is visit the land-based property and deposit (or withdraw) your funds with the help of one of the workers at the cage. This is widely regarded as the safest and most convenient payment option. Apart from offering great limits, players also don’t have to pay any fees, and all transactions are instant.
Simply put, everything is great, except for one thing: you have to go to the casino. If you’re not located close to the property, you should probably use another payment option and save you the trouble of leaving the house and traveling to the land-based casino.
Online casinos that don’t have a land-based partner don’t offer cash at cage simply because there is no cage to start with.
Using Debit and Credit Cards
Debit Cards
Debit cards allow you to use the money you have in your bank account, which you previously deposited, your employer, or someone else. To use a debit card, you need to select it as a preferred payment method in the casino of your choice.
After that, make sure to input your card number, security code, and expiration date of the card. When you make a transaction, you’ll probably have to go through some 2FA process via your bank or another payment processor. Debit cards offer instant payments, meaning you should be able to see your funds arrive in your casino balance right away.
Credit Cards
What makes credit cards different from their debit counterparts is that they allow you to borrow money from the card issuer rather than just spending the money you previously loaded into your bank balance.
However, when it comes to the process of connecting the card to your casino and making payments, they are no different from debit cards. Therefore, you’ll also have to connect it by entering the official number, expiry date, and security code and confirm each transaction.
Credit cards are also instant, which means you can start playing casino games with real money a couple of seconds after initiating the transaction.
Considerations to make when choosing payment methods
Now that we covered the most popular deposit methods for American players, let’s see which one is the right option. Before selecting a deposit option, please consider some of the following things.
Transaction fees
First, you need to check whether the payment option of your choice charges fees. Most methods come with fees, but some are more costly than others. For instance, e-wallets will usually charge more compared to credit and debit cards. Methods such as cash at the cage are often free of charge.
Minimum and maximum limits
Every payment method has some limits, and you need to pick the one that meets your needs in this regard. For instance, if you’re a high roller, selecting a method that allows high maximum limits is the best choice for you. If you’re a casual player, you might want to avoid the options with high minimum limits.
Withdrawal availability
We already mentioned several times in this article that some payment methods are one-way, which means you can only use them to make deposits but not withdrawals. Therefore, if you want to cash out your money using a certain payment method, make sure that you can use it for that type of transaction in the first place.
Processing time
Some methods are faster than others. The majority of online payment options are instant, but some of them, such as ACH or wire transfers, can take up to a couple of business days.
If you don’t like to wait for your funds to arrive in your bank account, you should use the ones that offer instant transactions.
Overall complexity
Some payment methods are more difficult to use than others.
If you have plenty of experience making online transactions using various options, this shouldn’t be an issue.
However, if you’re new to the world of online payments, you should start with some of the simplest options, such as credit and debit cards.
Bonus eligibility
Sometimes, some online casinos don’t award welcome bonuses and other promotions to players who use a certain payment method. Therefore, before making a deposit, make sure that you can claim promotions on the site using that option for deposit.
Moreover, casinos might offer special bonuses for certain payment options to encourage players to use them. This is something you should also consider.
FAQ
Withdrawal methods for American players
The number of popular withdrawal methods is much smaller compared to deposit options. Let’s see what the most popular methods are.
Play+ Card
Play+ membership usually allows withdrawals as well, and players who use this option have much better withdrawal limits. Moreover, their payments are processed faster as they are considered VIP customers in a way. If you want to use the Play+ card, make sure to see what other benefits you can get at the casino of your choice.
Many casinos even don’t have the withdrawal processing time for Play+ card users, which is worth considering when choosing a withdrawal method.
Online Banking/ACH
ACH is also one of the common withdrawal methods in online casinos. It’s a safe and secure way to transfer your money, but you’ll have to wait for a couple of business days before your withdrawal is processed.
Therefore, if you don’t mind waiting for your money if you’re sure that it will arrive safely in your bank account, this is the perfect option for you. Also, make sure to check out the minimum and maximum withdrawal limits for this option, as it’s different for every casino.
PayPal
Being the most popular e-wallet globally, PayPal is also available as a withdrawal method in many online casinos. It’s an instant method, meaning you don’t have to wait a lot for the transaction to take place.
However, please consider that many online casinos have the so-called withdrawal pending time, which can take up to several business days and has nothing to do with payment method speed. In that case, you’ll still have to wait some time before your funds become available in your PayPal account.
Cash
Perhaps the cheapest and fastest way to withdraw your funds is to go to the land-based casino that’s partnered with the online gambling platform of your choice and cash out your winnings that way. Still, the issue with this is that it doesn’t pay off if you’re not near the casino property.
In the end, you must leverage whether the gas money + time spent traveling to the casino is worth it. When you think about it, cash at cage seems like a great option if you want to deposit and withdraw huge amounts of money, as transactions are often free of charge, and the maximum limits are high.
Physical Check
Finally, you can ask the casino to send you a physical check to your address if possible. This is a secure method, but it’s also one of the slowest options out there, as you’ll have to wait up to two weeks before the check arrives at your destination.
Therefore, if you’re old-fashioned and want to avoid all the electronic payment processors, this may be the best option for you.
Other than that, there are not many advantages of requesting a physical check.
Typical procedure for deposits and withdrawals
Every deposit and withdrawal method comes with different instructions for making transactions. Having tested most methods listed in this article, we decided to create typical deposit and withdrawal procedures regardless of the method you’re using. This should help you understand how the entire process works if you don’t have experience making deposits and withdrawals.
Deposit procedure
First, let’s see how a standard deposit procedure looks like.
- Select an online casino that accepts the payment method of your choice.
- Open an account by filling in all the necessary information.
- Log in to your account and go to the banking section on the site.
- Find the list of available deposit options and select the one you want to use.
- Connect the deposit option to your casino if necessary.
- (Optional) Enter the deposit bonus code to claim the welcome promotion if there’s one.
- Enter the amount you’d like to deposit.
- Proceed with the payment and follow the instructions to complete the transaction.
Withdrawal procedure
Cashing out your winnings is an even easier process than deposits, so let’s see how to do it.
- Log in to the online casino where you want to withdraw your funds.
- Go to the banking section and pick a banking method you want to use for cashing out your winnings.
- Connect it to your online casino if necessary (for example, credit cards require entering their information to make a transaction)
- Enter the amount you want to withdraw but pay close attention to the minimum and maximum withdrawal limits.
- Confirm your transaction and wait for the casino to approve it.