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There are many different payment methods offered by online casinos out there, but how to choose the right one? What the majority of gamblers want are secure transactions, quick withdrawals and convenience, and while some prefer classic bank card payments with VISA or Mastercard, others may be more inclined to use, for example, e-wallets.
Finding the best payment methods can be confusing and a little stressful, and what works best for you depends on your preferences, but also on where in Asia you are located. This guide will shed some light on the most popular payment options out there, how to use them and what you need to think about before picking a payment method.
Definition Payment Method
When you sign up for an account at an online casino, one of the first things you need to do is to make a deposit. Your deposit is the money you will use to gamble, and while you can sometimes play free demo versions of slots and other casino games—you need to make a deposit in order to win real money.
Deposits are made using a payment method. Payment methods are the methods you use when you transfer money from your bank account and to your casino bankroll, and it works similarly to other online payments such as when you shop online or pay for services.
Depending on the casino, you could have between 5-25+ payment methods to choose from, and you pick the one that works best for you. Payment methods are also used to withdraw money from your casino bank account, either if you decide to stop playing while still having deposit money left or if you get lucky and win.
Types of Payment Methods
One of the first things many gamblers check before choosing a casino is the payment methods offered. Some casinos only offer a few while others offer over 30, but what matters is that you find one you like and one you feel meets your requirements and expectations.
Think of it like this: How would you like to pay the next time you feel like playing your favourite casino games? Not sure? Don’t worry! There are a few different things to take into consideration when you pick your payment method, such as how it works, withdrawal times, fees and more, but step one is picking a type of payment method.
Some payment methods can only be used for deposits, which means you have to use a different payment method for withdrawals. As a contrast, casinos may obligate you to use the same payment method for both deposits and withdrawals whenever possible, as part of an initiative to combat money laundering, fraud and other illegal activity.
Below, we discuss:
Let’s have a look at a few different payment method types.
Almost everyone owns a bank card of some sort, and you have probably made online payments with a bank card in the past such as when you’ve ordered clothes, electronics or other items, or purchased an app, an antivirus program or similar. Bank card payments are familiar and accessible, and therefore a payment method almost all casinos offer.
The cards accepted differ, but you can usually make your deposits and withdrawals with VISA, Mastercard, Maestro, American Express and a few others depending on the casino and your current location.
With bank card payments, the payment is made directly from your bank account and to your casino bankroll, with no third-party companies or applications involved.
Your card number is used for both deposits and withdrawals and you need to be comfortable using it in order to pay with your bank card.
Using a debit card is currently the most common way to pay with a bank card, and works just like any other internet purchase. You can use your debit card provided that your bank allows gambling related purchases, that you have sufficient funds in your account and that your specific card is accepted by your chosen casino.
Credit card payments are also an option at select online casinos, but casinos registered in the United Kingdom no longer accept credit card transactions.
The reason springs from an initiative to prevent the gambling addiction and unhealthy gambling habits, as it is very easy to lose control when you gamble with money you might not actually have.
For casinos that do still permit credit card payments, it’s important to gamble responsibly and to set up reasonable budgets for yourself. Only gamble with money you can afford to lose.
A payment method that is similar to bank card payments is a payment made with prepaid cards or vouchers. You can purchase prepaid VISA cards, Mastercards and more and top them up with the amount of your choice, and while these are not connected to a bank account, they can be used for making deposits at many online casinos.
However, because they are not connected to a bank account, it is not possible to make withdrawals with a prepaid card or voucher as there is nowhere for the money to go.
You can deposit using prepaid cards but withdrawals will have to be made with a bank card, e-wallet or—most commonly for deposit-only payment methods—through bank transfer.
If safety is your main concern then bank wire transfers are incredibly secure thanks to their sophisticated KYC (Know Your Customer) procedures and restrictions, where multiple levels of security are applied to prevent illegal activity such as fraud.
The downside is that these measures are time-consuming, which means your transactions might take a few days.
The delay that might come with both deposits and withdrawals makes it a less attractive payment method in parts of the world where other alternatives are available, but in countries with restrictions or where only a few payment methods are accessible, then a bank wire transfer is a payment method that is considered very secure.
One of the most popular payment methods at online casinos are e-wallets, which is a type of digital card that allows you to store money and use it at your convenience—without having to give up your card or bank information every time you make a payment.
Money is transferred from your bank account, through the e-wallet and to its destination, which is the online casino in this case, or you can add money to your e-wallet first and pay with your account balance.
With an e-wallet, you create an account which is protected by a password, and you need to connect a bank account to be able to use it for money transactions.
Payments to online casinos are then made by providing your email address and password only, with no need to give out any other personal data.
Worth adding is that e-wallets have become immensely popular in Asia in recent years, and popular e-wallets in Asia are WeChat Pay, Phonepe, Paytm, Alipay, RuPay and Go-pay.
Instant bank transfers are mostly used in Scandinavia and some other countries in Europe at this point, and even though Trustly recently expanded to Canada and Australia—the Asian continent still waits for future developments.
We still want to mention instant bank transfers here as they will likely become a reality soon also in Asia.
Examples of services that allow instant bank transfers are Trustly, iDEAL and Giropay, and they work to facilitate and speed up regular bank transfers so that you get the same security without having to wait up to 7 days for your deposit or withdrawal to be reflected on your casino account.
Cryptocurrency transactions offer secure, fast and almost entirely anonymous payments, and it comes as no surprise that more and more online casinos are starting to accept deposits and withdrawals with cryptocurrency! Crypto tokens like Bitcoin, Ethereum, Litecoin and Bitcoin Cash can now be found among the payment options at various casinos in Asia.
Gamblers in countries like the United States are discovering the benefits of cryptocurrency payments, as it allows them to anonymously gamble online even though online casino gambling is prohibited in most states.
The Asian gambling community still appears to favour e-wallets, but the low fees and quick payments are likely to continue to attract players.
How to Make Transactions
Every payment method type is different when it comes to how deposits and withdrawals work, and while most casinos offer practical guides along with straight-forward processes, it is still nice to have an idea of what to expect when you make your choice.
We are going to have a look at how transactions to and from casinos work when you use a few different payment methods, but keep in mind that the process may differ depending on the casino and on your country of residence.
Some casinos may save your card details for future deposits, so that you won’t have to fill in your details every single time, but many have you redo it as a way to protect you and your payment information.
Debit cards allow you to make both deposits and withdrawals using the same payment method, and many online gamblers in Asia find this very convenient. In a case where your card details were saved during the deposit process, all you have to do is:
Prepaid Cards & Vouchers
Making a deposit with a Prepaid VISA card or other card works just the same as a regular bank card transfer.
Vouchers work similarly but it could differ depending on the voucher type, and some may work by adding a voucher code instead of a card number.
Withdrawals with prepaid cards and vouchers can’t be carried out for obvious reasons. When you withdraw money from your casino account, that money needs to land somewhere, either at a bank account or in an e-wallet. A Prepaid card is not tied to either of the two, and you can therefore not make withdrawals to prepaid cards and vouchers.
An online casino will sometimes give you options for your withdrawals when you can’t use the same as the method used for your deposit, but bank transfers is one of the most common substitutes in cases like these. They do take some time (up to 7 days), but will get your money safely to a bank account. You can also use an e-wallet.
Before you can make a deposit with an e-wallet—you need an account.
Casino withdrawals with e-wallets are just as simple as deposits, and most casinos will have you use the same e-wallet for withdrawals as you used when making your initial payment.
You once again go through the same process of locating the ‘withdrawals’ tab and typing in your e-wallet login information when prompted.
Bank Wire Transfers
Bank wire transfers are still common in parts of Asia where few other payment methods are available, and the security offered is another thing that draws gamblers to this payment method—despite it being far from the fastest.
Instant Bank Transfers
As previously mentioned, instant bank transfers aren’t really available in Asia at this point, but considering how popular No Account casinos are becoming (where instant bank transfers are used)—it is most likely just a question of time Asian players gain access to this handy payment option. We also choose to include this for Asian players living abroad.
Sounds too easy? Believe it! In a way you could say that you pay Trustly who then pays the casino, and this makes wire transfers instant!
The good news for instant bank transfer users is that they can also be used to withdraw money, and it also eliminates the waiting times that you would otherwise have to deal with when making a regular wire transfer withdrawal.
As unreal as it sounds, third-party companies like Trustly makes sure you have your money within approximately five minutes, which is a big difference compared to having to wait for multiple days.
Essentially, this means you can win the jackpot, use an instant bank transfer method to withdraw the money and have access to your win in 5 minutes.
Best Payment Methods in Asia
If there is one thing we can learn from this guide, it’s that all payment method types are very different, and not all options fit everyone. Some prefer a payment method they are familiar with from previous purchases, and that usually ends up being a bank card like VISA or Mastercard. Others are more adventurous and favour a modern method like an e-wallet.
There is no doubt that e-wallets are gaining popularity among Asian players and other online shoppers, and it is easy to understand considering how handy it is to be able to manage all your payments directly in a phone app.
E-wallets can be used in many online shops nowadays and are not only made for online casino use, and if you choose wisely, you may find that it simplifies online shopping in ways you would have never imagined.
The question isn’t what the best payment method in Asia is, but what the best payment method is for you. Asia is made up of many different countries and billions of different people, and a variation in preferences is to be expected.
Pros & Cons of Payment Different Methods
Last but far from least, let’s have a look at some of the pros and cons that come with each payment type! Choosing a payment method is such a personal choice and we can’t tell you which type will work best for you, and instead we are going to give you the tools you need to make a smart and educated choice.
|Bank Card||Most people own a bank card||Inconvenient to have a card number available|
|Instant casino deposits||Risk of losing or compromising your card when using it in public|
|Safe and reliable transactions||Fees on deposits and withdrawal|
|Prepaid Card & Voucher||No need to give out bank details||Can’t be used for withdrawals|
|No need to give out bank details||Requires you to have a card number on hand|
|Can be used by people without a bank account||Easy to lose or misplace|
|E-wallets||Payment confirmation with e-wallet login details||Fees on casino withdrawals|
|No need to share card information with the casino||Fees on withdrawals to your bank account|
|Fast deposits and withdrawals||You need time to create an e-wallet|
|Bank Wire Transfer||Reliable and secure transactions||Long waiting time for transactions to go through|
|Familiar and easy to use||Inconvenient when wanting to gamble right away|
|Available to most users with a bank account||Often requires you to carry a banking device|
|Instant Bank Transfers||Instant casino deposits||Currently unavailable in Asia|
|Instant casino deposits||Limited availability worldwide|
|Low or no fees||Only available to those with a bank account|
|Cryptocurrency||Fast and secure transactions||Requires some knowledge of cryptocurrency|
|Close to anonymous deposits||Potentially volatile currency|
|Low fees and instant withdrawals||Few online casinos accept crypto|
The easiest way to find the best payment method is to consider what you need. If speedy deposits and withdrawals are important to you, then an e-wallet is probably the best choice out there. It is fast, simple and secure to use an e-wallet, and your transactions are carried out instantly or within a few hours.
For those who would rather go with a familiar payment method they’ve used before when making payments on the internet, use a bank card for moderately fast deposits and withdrawals, and wire transfers if you don’t mind the wait.
More About Payment Methods
If you want to know more about different payment methods used at casinos online then go ahead and read our in-depth articles.
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