Guide to online casino payments

Guide to online casino payments

Making sure your casino is a safe bet

How can I make some money while having huge amounts of fun? You might be asking yourself this as you enter an online casino. The fun part is really down to personal preference, and online South African casinos have worlds of fun waiting for us, no matter what floats your boat. 

When it comes to money, there are lots of different approaches. No matter how you decide to play it, do your homework before you commit, so that you can be sure that the online casino that lights your fire is going to come through for you when you win – big or small. We can help with that.

The safer you feel in your online casino, the more fun you can have. So, before you commit your cash, find out if the online casino you’re dealing with is secure and uses payment methods you can work with. In this guide, we’ll talk about the different types of deposit and withdrawal methods so that you can go in clued up and ready for action.

If you are ever in doubt about the legitimacy or security of an online casino, take a look at our reviews for an in-depth examination.

When you first sign up with an online casino and are ready to make your first deposit, you will need to choose a payment method, both for depositing funds and withdrawing them. There are many payment options available, and they vary between casinos. Often, this variation arises from the casino’s jurisdiction – for example, online casinos domiciled in the UK can’t accept credit card payments, while those in South Africa can.

Broadly speaking, payment methods are broken down into four segments in this guide: card payments, e-wallets, direct payments and cryptocurrency. We take a look at how each one works as well as their advantages and disadvantages.

Bear in mind: online casinos may charge additional fees for certain payment methods, bonus withdrawals and a few other things. Always familiarise yourself with the payment fees before committing any money to play.

Card payments are among the simplest methods to make deposits and receive payouts in South African online casinos. Most players have access to either a debit or credit card, and the payouts using this method usually take just a few days.

Credit card

Using a Visa or Mastercard credit card at a South African online casino has many great advantages:

  • Deposits are instant, so you can start playing immediately
  • It’s one of the most secure payment methods
  • It tends to have the lowest fees
  • Most online casinos offer higher daily deposit limits for credit cards
  • It has higher maximum transaction limits

Debit card

Not all online casinos that accept credit cards accept debit cards as well, but some do. For those that do accept debit cards, the process and advantages are much the same as a credit card.

Bear in mind: While Visa and Mastercard are widely accepted in South Africa, both in online casinos and elsewhere, using a  debit or credit card from another provider might cause challenges. For example, many online casinos don’t accept American Express or Diners’ Club cards.

E-wallets have rapidly become one of the most popular ways to transact online, including in the online casino environment. This is partly due to their ease of use, and partly because they are one of the fastest ways to get your payout. Deposits are usually near-immediate, so you can get down to the game right away. 

There are multiple e-wallets available to South Africans that are accepted at casinos; however, not all online casinos accept all types of e-wallet. You can easily find information on which payment methods an online casino accepts – sometimes this is at the bottom of the homepage; or you can look for a payments or banking page.

Skrill

Skrill was developed in the UK specifically to manage online casino payments, making it one of the best e-wallets to use. Many players enjoy Skrill because of the added layers of security. None of your personal information is provided to the casino, giving it a level of anonymity as well. This is one of the most common e-wallets accepted by online South African casinos, so it’s a good choice.

Neteller

Much like Skrill, Neteller handles millions in online casino transactions daily. It is among the most securely encrypted e-wallets available, and payments are generally very quick, if not instant. Here also, the casino doesn’t receive any of your personal information. This is another commonly found e-wallet among online South African casinos.

ecoPayz

Another popular and highly encrypted e-wallet, ecoPayz is widely used at many South African online casinos. It offers the same promise of anonymity by not sharing personal details, and is also one of the quickest methods to make and receive payments.

PayPal

Because of its strict ties to just one South African bank, PayPal can be one of the more challenging e-wallets to use. As a result, very few South African online casinos offer it as a payment method, but if you find it, and you’re a PayPal user, it’s quick and convenient.

These are not the only e-wallets available to online casino users, but they are the most popular and widely used. Most online casinos that offer options not mentioned here will usually offer at least one of these options as well.

 

Direct debit, EFT, or bank transfer effectively all mean the same thing: making a payment directly from your bank account to the casino and receiving your payouts into the same account. As with credit cards, you will need to provide some personal information and verify your identity. However, many people prefer this method because of its innate security. There are no third parties handling the money, and you have complete control over your account.

That said, direct payment tends to be the slowest of all methods, for both deposit and withdrawal. Even an instant payment into your play funds may take some time to clear, and payouts from the casino can take a few to several days.

Not for the faint-hearted, cryptocurrency – most particularly Bitcoin – is gaining popularity as a payment method in online casinos. Most casinos in South Africa offer it as a payment method for deposits and withdrawals. Using cryptocurrency does come with disadvantages, especially the massive fluctuations in its value.

Nevertheless, it has many great advantages, including very low or even no fees (some casinos offer a bonus for Bitcoin deposits), incredible levels of security and complete anonymity. In addition, hash cryptography offers players the peace of mind that the casino is operating fairly and legally.

An online casino is responsible for ensuring secure access and safe money transfers. To this end, they will always ask for proof of identity. It does mean a bit of extra admin on your side, but it’s worth the extra hassle to know that you’re dealing with a casino that’s above board and responsible.

There are many payment options available to online casino users, each with their own advantages and disadvantages. When choosing which method will work best for you, it can help to evaluate options according to these criteria:

  • Ease of use, including signing up
  • Payment speed for both deposits and withdrawals
  • Security of the platform and the payment method
  • Fees applying both to the casino and the platform
  • Convenience