Payment methods. Useful Information

All You Need To Know About Casino Transactions

Before conquering the world of online gambling, you first need to find out how you’re going to top up your casino account and make other financial transactions. Despite a big – almost confusing – selection of payment methods available to players, not all of them are equally advantageous. Each payment system has its pros and cons, and it’s your responsibility to know this information. 

In terms of speed, all major payment systems work equally fast. Most of the time, the money arrives to your account instantly. The only exception regards bank transfers. However, few gamblers are using this method nowadays. There is a variety of other deposits options that beat bank transfers both in terms of speed and ease-of-use. 

Payment Cards

Today, it’s hard to find a gambler who wouldn’t have a Visa or MasterCard in their wallet. In fact, Visa and Mastercard top the list of the most popular payment methods among casino clients. The above-mentioned payment cards have no lack of advantages. For example, they don’t charge a commission and have high top-up limits. At the same time, some clients hate the need to enter their card information when making a payment. Although gambling sites ensure a high level of security, there is still a slight risk that clients’ data may be intercepted by hackers. Another drawback of payment cards regards differences in exchange rates, which are sometimes hard to predict. 

Electronic Payment Systems

Gamblers living in Europe have access to a huge number of electronic payment systems that allow you to make any financial transaction on one click. An international casino offers up to a hundred electronic payment systems to fit any need.

When choosing the suitable system to make a deposit, you need to consider several crucial factors. Find out whether the system allows you to easily top-up your e-wallet.  Also, pay attention to commissions charged on different types of transactions. Some electronic systems are notoriously known for their sky-high fees. 

The biggest pro of using an electronic payment system is that you don’t need to enter your payment data. Your e-wallet number and login are the only two pieces of information you need to make a payment. Even if hackers access this information, they won’t be able to capitalize on it in any way. Plus, most people don’t keep large sums of money in their e-wallets.    

SMS Payments

The beauty of this method is that it’s available to anyone. SMS payment is a fast and effortless way to make a deposit to your casino account. Sadly, this payment method is rarely found in online casinos. One of the reasons has do with high commissions charged by mobile operators. Also, text messages may arrive with delays, which is unacceptable in gambling. 

Why Your Money Is Safe With Online Casinos 

One of the most common arguments used by those lambasting online gambling is that a casino doesn’t care about the safety of its clients’ money. However, this is nothing but slander. To any online casino, financial security is a top priority issue. 

In this article, we’ll be talking about licensed casinos whose operation is regulated and controlled by the relevant gambling authorities and organizations. If you live in a country where online gambling is banned, you can easily join one of the major European gambling sites and enjoy all the advantages of playing in a professional licensed casino. 

Charter Capital

An impressive charter capital (or bank deposit) is one of the main prerequisites for establishing an online casino. This requirement didn’t emerge out of thin air, though. This money is needed in case of emergency, e.g. if the casino goes bankrupt or disappears with its clients’ money. In this case, the players (and other affected parties, if any) will get their compensations from the fund. Such a procedure is foreseen by the gambling legislation applied to each online casino. 

Costly Licenses

Another barrier used to filter off potential rogue casinos regards the need to obtain a gambling license. A casino license is a certification document that confirms that a casino can be trusted. In some European countries, the cost of a casino license may reach several millions euro. Plus, to obtain a license, a casino must meet the highest standards and requirements in the gambling industry. It’s easy to see why losing a license is a nightmare for any gambling site! If a casino is stripped of its license, it may never get another one.  

Huge Fines

Fines are another effective tool for keeping casino operators on a short leash. Casinos get fined for any violation of the current legislation or established guidelines. Regulatory bodies and auditing organizations scrutinize every aspect of a casino operation. If they find even a tiny discrepancy in a financial report or any other mistake, the fine is inevitable. Also, if a player files a complaint with a gambling authority, it will start an investigation in order to find out whether the casino plays unfair. 

Now you see that every online casino is, in fact, a rigorously regulated company that has to comply with the gambling legislation and other market standards. If you choose a respectable site, you don’t need to worry about the money in your account. The worst thing that can happen to your bankroll is that you gamble it away. But it’s a whole different story!