Back in the day, there wouldn’t be any need to investigate the best casino payment methods, because cash would be the only option. But times have changed, and these days millions of people don’t play in land casinos, they play online.
For obvious reasons, cash isn’t an option when it comes to spending and collecting winnings online. So new ways had to be devised to allow people to play safely from the comfort of their own homes WiserGamblers.com.
Even so, many might be surprised to know that electronic payments have a long history, and by long we’re talking 150 years plus! Western Union were the first bank to roll out electronic fund transfer (EFT) in 1871.
This was the first time a person could pay for something without being physically present when the item went through the till. Though it wasn’t until 1994 that the first online transaction took place, allegedly it was to procure a pepperoni and mushroom pizza from Pizza Hut.
A few years later, PayPal was up and running and in 2010 cryptocurrency made its debut WiserGamblers.com.
All of the above are commonly used for playing online, but which one is the safest to use?
Before we take a deep dive into answering that question, here’s another one. How do you know that the online casino you’re using is safe to use?!
Firstly, for best practice, never, ever use a public or unsecured network to make any online transaction. Whether that be to hit the slots or just to order pizza, just don’t.
Secondly, all reputable online casinos use what’s called 128-bit SSL encryption. This means that a third party can’t steal data while it’s in transit between a web server and a web browser.
So, by using an online casino with an SSL certificate, your details, passwords and personal information are safe, therefore, don’t use a casino without one. Now (finally) back to the original question, what are the best casino payment methods? Let’s take a look at the top three:
Debit/Credit cards
It’s still popular and, with the assurance of an SSL certificate, it’s safe as well. There is the relative hassle of having to punch your physical card details into a website, but that’s about it.
For most of us, this is the most familiar way of making an online transaction because we’ve all been doing this for years. The casino only requires you to set up an account once, so next time you play all you have to do is enter a password and get gaming.
But this method of payment is arguably the least safe as well because you’re providing a third party (i.e., a casino) with your personal information. Though admittedly if the casino in question (and your bank) is reliably secure the chances of a security breach are low.
Just be careful where you are on the odd occasion, you’re required to enter the last three digits on your card to secure a transaction. And, of course, set up the account in complete privacy.
E-wallets
If you think of these as a digital version of the physical cards in your wallet, you already understand what it is. Even if you didn’t about five seconds ago!
If you want one, they’re simple to set up. Go online, download one of dozens of e-wallet apps and link up your payment cards, and that’s it.
The most popular is of course PayPal, where payments are made directly through PayPal, so you are not giving payment information to the casino. Arguably, this makes PayPal/E-wallet transactions safer than a debit or credit card.
Just make sure you do your research as to which is the best E-wallet for your needs. And, obviously, before entering any banking information into a website, ensure the site is legitimate, secure and you do so in privacy.
Cryptocurrency
The new kid on the block may be the safest method with which to pay a casino on this page, but you’ll need to do some research to get set up.
The advantages of using cryptocurrency are that they’re resistant to deflation and you can sidestep any taxation issues. Also, transactions are fast, anonymous and, crucially, safe thanks to blockchain technology, which is virtually impenetrable.
The only major downside is that not every casino excepts cryptocurrency, but they’re becoming increasingly rare as crypto use becomes more popular. And some casinos even offer bonuses to new customers that want to pay and play with cryptocurrencies!
We hope that’s helped to clear up any concerns you may have when paying for your favourite online casino. On a final note, for extra belt and braces security, always use a VPN when you go online, you can have that top tip for free.
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