Whether you are a new or experienced gambler, you have to make a financial transaction to enjoy most online casinos. Though a person can do most transactions over the Internet, some are still fearful of putting their card or bank details online. Hence, there came the rise of electronic wallets.
Electronic wallets, or e-wallet for short, are digital prepaid accounts that allow users to store their money for future online transactions. E-wallets have lots of uses, such as making payments for bills, groceries, and flight tickets, among others.
Though you have to link a bank account on these e-wallets, none of your gambling transactions will show up on your statement. Bank employees would not judge you over your gambling habits, but a history with betting sites may affect your credit rating.
As a precaution, people are cautious of giving out their bank details, whether online or in person. Electronic wallets limit the given information to the casino, adding that extra layer of security for your online transaction.
Lastly, since all the transfers happen online, deposits and withdrawals from an e-wallet are faster than other methods. To help curb your reservations, we have come up with four electronic wallets you can use for your online gambling experience.
Even with all the electronic wallets available in the market, PayPal undoubtedly remains to be the most popular one among consumers. PayPal has a stellar reputation when it comes to security, and the outstanding mobile application means you can make transactions on the go.
However, PayPal usually charges high fees for merchants, so not a lot of online casinos have partnered with this company for their operations. Once you find a platform that allows this system, you can expect a painless transaction for deposits and withdrawals.
This electronic wallet was a product designed for online gamblers. Founded in the 2000s, Skrill generally has lower fees compared to PayPal. More than 30 million people worldwide use this service, and it is accessible in nearly 200 countries.
Since 2015, one company owns Skrill and Neteller, so there is not much difference between their features. Neteller has been around since 1999, and there are over 23 million users worldwide. This electronic wallet charges specific percentages depending on the bank, though it generally has lower fees compared to PayPal as well.
EcoPayz is the same age as Skrill and Neteller, but it has only gained traction in the past few years. A unique feature of this electronic wallet is the option to get an EcoCard. The prepaid card will allow you to spend the funds on your e-wallet, much like using a regular debit card.
If you have any of these e-wallets already set up, you can effortlessly start your online gambling adventure. Make sure to find a casino that accepts this payment method, read the terms and conditions, and you are ready to go.