The idea of gambling online has grown in the past decade. Gone are the days when you had to visit Las Vegas or Macao to gamble at various casinos on the same night. The advent of online casinos has made gambling just a few clicks away. The bonuses, discounts, free reels, and offers like Michigan online lottery are another reason for people to start playing online.
Having said that, not many can argue that online casinos didn’t have their own challenges. One of the biggest hurdles faced by online casinos was payment. There was a stigma associated with online payments, not that far ago, as people didn’t completely trust online payments.
In the last decade, online payments started becoming more safe, secure, frequent and trusted. This was a result of an array of security tools made available to online retailers.
- Stripe, for example, encrypts all the card information on a disk with AES-256 and stores decryption keys on separate machines.
- Paypal’s security key offers a second authentication factor.
- Moreover, most reputable vendors are also protected by the SSL certificates along with firewalls and regular system scans.
- On top of that, customers can add their own security measures like strong passwords and anti-virus software.
It won’t be an overstatement to say that, on some occasions, online payment has become safer than an offline payment.
The various ways you can pay online are:
Popular Credit/Debit Cards
One of the most common ways to pay for gambling online is popular debit and credit cards such as Visa, MasterCard, and American Express. This method of payment has been used since the dawn of online casinos.
This is one of the safest options out there as debit and credit cards have been out there for the longest time on the web. Visa, MasterCard, and American Express are some of the most tested, trusted, safest, fastest, and most supported methods of payment for online casinos.
One of the fastest-growing payment methods for online casinos is an e-wallet. Apart from being highly secure, e-wallets are very convenient in terms of depositing and withdrawing money.
E-wallets make storing all your card information in one place possible, which means rather than entering your card number at the online casino, you can transfer sufficient amount to your e-wallet and then use that at your every online casino stop.
Skrill, Neteller, and PayPal are some of the most secure and supported e-wallets in the market. There is really not much that can go wrong by using an e-wallet for online casino payment.
Cryptocurrencies, especially Bitcoin, is probably the newest and most convenient ways to pay online. Every year more and more online casinos are supporting bitcoin payments. Bitcoin is a decentralized, peer-to-peer digital currency that has become increasingly popular for online payments.
Since cryptocurrencies are very secure, to begin with, using them for paying for online casinos is a no brainer for those security skeptics out there. Moreover, it is possible to mine bitcoins, so if you don’t have disposable cash to gamble on, you can always mine the money yourself!
Although these are not amongst the most popular options for online casino payment, they are pretty secure if you’re still skeptical about online payments. E-Check is one of the ways you can pay your online casino. It functions the same as a normal check but is electronic.
Bank wire is another offline option for casino payment. You need to go to a nearby cash office or your local bank to process the bank wire. All you need is the recipient bank information, and you can transfer money with minimum overhead.
With the advent of technologies, more and more methods are being introduced to make payments secure, safe, and fast. This has made it possible for more people to freely participate in the online betting world. Apart from the ones mentioned above, there are even more in play, but these are the most popular methods out there.