Tips for Choosing Payment Options

Gamblers use different payment options to either deposit funds in the casino for wagering or withdraw their winnings from the casinos. A player is only allowed to use only one payment option at any one given time Since there are quite a number of payment options at a players disposal it is important to choose one that is convenient. The following are four payment options and their advantages.

Bank transfers involve the direct transfer of funds to and from the player's bank account and the online casino's bank account. The disadvantage of this payment option is it can take a week or ten days for a transaction to be complete and the online casinos mostly remit funds by check only.

Credit and Debit cards are very popular since most players are in possession of them and are therefore familiar with how they work. One of the disadvantages is that the verification process before a transaction is made is quite cumbersome and strict with players having to submit information and a number of documents to the casino. Some credit card issuers do not allow players to withdraw funds from online casinos into their card accounts.

Electronic wallet: This payment option is ideal for players without credit cards or who have reservations about using them online as they can be funded directly from a bank account. The disadvantage is that they have country and currency restrictions and there are very few of them available in the United States. They also attract extra charges.

Prepaid voucher: This is the latest payment option in the market that is not dependent on the banking system at all. Unlike credit cards or electronic wallets, prepaid vouchers don't maintain a record of a person's transactions outside the online casino. This payment option is wide spread in the United Kingdom and is quickly gaining popularity. They are sold by providers for cash at retail outlets or alternatively you can buy the vouchers online.

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