Review of online casino payment options

Payment options are a gateway to real money gambling in online casinos. Without online casino deposits, you will never win a progressive jackpot, keep company with fellow players in live games and hit that known $10k mark in Aviator. Many players never reflect on online casino banking, joining any gambling site and funding their account as a matter of course—they just pick the first payment option to come along. However, smart players know that a check in the right column can make or break the online casino experience.

Online casino withdrawal is also an essential step that sometimes occurs awry because of critical mistakes players make at any stage. Moreover, positive interaction with the online casino—as far as payment options go—can depend on whether you choose an offshore or licensed casino. There are many things a player should be aware of, and this website answers everything you ever wanted to know about online casino payments and their subtleties relative to online casinos.

Types of payment options in online casinos

People are used to buying flight tickets, car accessories, pizza in a neighbouring cafe or app subscription, using credit and debit cards: Visa, Mastercard, AmEx, and local solutions of this kind. That is why novices usually think online casino payments are limited to the said options. But this is not how it works in online casinos.

Trying to simplify the injection of funds into their platforms, online casinos are looking for ways to embrace as many payment instruments as possible. However, this is not always easy because of legal concerns, accessibility across countries, restrictions imposed by the payment provider, and many other factors.

As a result, it is common practice that an average online casino has a smallish set of deposit and—even more so—withdrawal options. On the other hand, almost every online casino has a few (5 to 10 or even greater) cryptocurrencies to make up a shortfall in fiat options. Below, we delve into each type of payment system applied in online casino banking.

Best online casinos

Credit cards

The Discover card brand circulates mainly in the United States, while American Express has an international outreach, though it is not as popular as Visa and Mastercard, which are found in most online casinos worldwide. However, the ability to utilise your credit or debit card for gambling depends on a few factors, such as the country you are in, the online casino, and the card-issuing bank. Let’s review real-life cases that offer illuminating insights into cards in gambling:

Cases

  • An online casino accepts Visa. The country is friendly to online casino gambling. However, when the player got his Visa card in a bank establishment, he failed to choose an option that would have enabled him to make gambling-purpose transactions. So, when he tries to make an online casino deposit, the transaction does not go through.
  • An online casino accepts Mastercard. The country is not friendly to online casino gambling, and neither is the player’s bank. However, the player’s dashboard in the casino shows Mastercard. He picks that option and gets redirected to the MC page, where he initiates and completes the payment successfully. How is that possible? It is an intentional miscoding of a transaction that hides its true nature (gambling)—some casinos recourse to this practice to bypass transaction deference.

It is an empirical fact that global card options (Visa, MC, etc.) are offered in many offshore casinos that operate without local licenses or on territories where this kind of activity is forbidden (e.g. Australia). However, chances are low that online casino payments with credit cards will end in success in these environments.

Credit/debit cards: Pros & Cons

Pros:
Wide availability: Almost every offshore and licensed online casino has a credit card option for deposits and—more rarely—for withdrawals.
Low fees: Established by an issuing bank, these fees are in the 1% to 2% range.
High safety: Banks take serious measures to protect transactions from hacking. Your funds are safe unless your device is infected with malware.
Universal solution: plastic cards are offered as two-way options in online casino banking: for deposits and cashouts.

Cons:
Denials: Some banks deny gambling transactions or suspend the funds for internal financial checks.
Taxation: Some countries, especially in Europe, make a person accountable for cash inflows to CCs, making it a lousy option for high rollers.
Currency conversion issues: If your bank account is in the local currency and the casino account is in the US $ or €, it cannot be ruled out that your bank has an unfavourable exchange rate, which can result in more funds being charged off.

Electronic wallets

E-wallets act as intermediaries between a customer and a merchant. An electronic wallet keeps the person’s credit card numbers, personal information and other financial details required to make a transaction to/from online casinos or anywhere else. In some cases, an e-wallet holder must attach it to their bank account (Google Pay) because the software will not work without it.

Other digital wallets (Skrill, Neteller) give users the flexibility to pay with their uploaded funds or debit (credit) cards, so you have a choice of pre-funding your account and using the money later; or paying for your items directly with any of the credit cards attached to your e-wallet account. It's always a good idea to have a mix of payment methods with you, and electronic wallets are a great way of handling money without the inconvenience of being rejected by the bank.

In many situations, electronic wallets are preferable to credit cards because the former offers flexibility and extra features unavailable in credit cards. Digital wallets allow one to make international payments from countries where credit card issuers deny gambling transactions.

E-wallets are ideal in locations with a low level of international credit card usage. For example, in Kenya, they have a local payment solution, M-Pesa, that has almost overtaken MC and Visa in online casinos banking.

Tip

If the online casino accepts cards and e-wallets, and you have both, make the former your first choice, especially with a significant volume of deposits. The reason is simple: most digital wallets apply fees which are typically higher than those of bank cards.

Cases

  • A player from South Africa wants to make a $100 Skrill deposit (in ZAR equivalent) to an online casino. Everything goes smoothly, but the total amount charged is $102.5 because of a 2.5% fee. If the player had transferred $100 through Visa, he would have paid $101 (a standard 1% applies). Inference: e-wallets are not the cheapest option.
  • A player wants to claim a first-deposit bonus. He signs up with a casino and uses Neteller to transfer some money to the casino balance. Surprisingly, the site denies claiming the bonus. The player opens the general bonus t&c and reads that Neteller does not qualify for the bonus program. Explanation: online casinos typically absorb deposit fees because they are petty, but with some e-wallets, casinos can ill afford to absorb them.

Many online casino players favour e-wallets due to the many benefits they carry. We are not going to discuss security here because every serious e-wallet provider makes its product extremely secure. On the other hand, every payment option can be compromised, much because of user negligence or mistakes—just remember that hackers can figure out how to get through even the safest options. Below are the features that online casino players love in many digital wallets.

Electronic wallets: Pros & Cons

Pros:
Accepted worldwide: Many online casinos accept a broad range of e-wallets, making them a popular and widely accepted payment option.
Balances in different currencies: This allows you to avoid conversion fees with online casinos payments.
E-wallet payments go without a hitch: As distinct from CCs, they are never declined, provided there are enough funds in the wallet.
Crypto trading facility (in some wallets): If a player can see a lucrative crypto bonus in the casino, he can buy ETH or other assets through the e-wallet and send it directly to the gambling site.

Cons:
Transaction fees: E-wallets charge fees for deposits and withdrawals. These fees tend to be higher than in other payment options.
Exclusion from bonuses: Payments from some wallets (Skrill, Neteller) do not qualify for redeeming casino bonuses.

Prepaid vouchers

This option is helpful if you have issues with a credit card or don’t want to deal with e-wallets. Vouchers are present in many online casinos, but there are few driving forces to use them unless you live in a place where all other financial solutions are not accessible for some reason or other.

A voucher (Neosurf, paysafecard, Astropay) represents a unique code (typically 16 digits). A user buys it online or at a sales outlet as a receipt and then types the digits on the online casino banking page.

Vouchers come in fixed denominations that usually match their actual price. For example, the paysafecard has four face values: $10, $25, $50, and $100 (or equivalent sums in other currencies in 50+ countries where it is distributed). Its cost can be a bit higher if you buy it from resellers, who add a small surcharge.

Let’s expound on the scenarios where prepaid cards can be of help in online casinos banking:

  • The online casino offers few payment options in your country, so you might want to buy a voucher for want of a better.
  • All minimum deposit limits, except for electronic vouchers, are higher than normal for you in your preferred casino.
  • You have a compulsive personality, so you want to limit your casino expenses to some fixed amount. That’s why you buy an eVoucher that will naturally prevent you from laying out more money than the voucher’s value.

Tips

  • It is not mandatory that you zero out your voucher, putting all the money into the casino account at once. If you bought a $50 code but want to deposit half, you can do this easily. To that end, you must create an account (myPaysafe, myNeosurf) on the payment platform’s website. After that, you may split a voucher, with your unused part being stored in your account for future payments. In a similar way, you may combine voucher PINs into one so the balance can be used for a bigger deposit to an online casino.
  • However counter-intuitive it may seem, some vouchers can be used as a withdrawal option in online casinos. If you have a myNeosurf account and deposited to the casino with a Neosurf PIN, you can cash out the winnings back if the casino allows this option.
  • Mind that most brands set an expiration date on the vouchers. Users have a few years (terms vary) to use it until it becomes invalid. Some vouchers deduct a service fee from the remaining balance after a certain period of inactivity (e.g. $2 after 24 months in paysafecard)

Prepaid vouchers: Pros & Cons

Pros:
Budget under control: Due to the nature of a voucher, you will not spend more than its value.
No deposit fee: Deposits to online casinos with prepaid codes are usually free of commissions.
Easy to get: Players face no problems trying to find and acquire a PIN.

Cons:
Withdrawal problems: Many voucher brands support incoming transactions, but online casinos rarely offer this, forcing users to fall back on alternative options.
Risk of loss: A receipt with the printed PIN can get lost if treated improperly. PINs are non-recoverable.
Bonus issues: Excluded from bonuses in some casinos (This especially applies to paysafecard).

Cryptocurrency

Around three-fourths of online casinos accept cryptocurrency for deposit and pay out winnings in digital coins. Moreover, many casinos allow betting in crypto. Setting up a crypto wallet and buying tokens is not a challenging task because many online casinos have explicit instructions on where to buy, how to store, and how to transfer crypto. There are over a hundred varieties of cryptocurrencies (Bitcoin, Ethereum, Tether, Dogecoin, and so on), and a typical casino features over ten of them on the banking page.

Most gambling and betting sites combine fiat and crypto for players’ convenience. Still, there are many crypto-only brands where cryptocurrencies are the only options for deposit and cashout. Currently, this is one of the best online casino banking options because of its numerous advantages. Sure, a player will have to find a reliable exchange and buy the crypto first, but it’s as easy as shooting fish in a barrel.

Some online casinos have bonuses given away on crypto deposits, which is another incentive for some players to use digital assets. Online casino brands generally have few bonuses that are beneficial for players, given unrealistic wagering requirements, but those granted on crypto deposits are friendlier in many respects.

Tips

  • Choose a crypto if you are going to deposit petty cash. A normal minimum deposit is $10 for fiat options and half as much for crypto. Consult your cashier page for exact limits.
  • If you have fiat and crypto and the online casino accepts both, take time to discern for yourselves the one that suits you best. Look at bonus terms and banking limits. Mind that crypto bets are not accepted in some games.

Cryptocurrency: Pros & Cons

Pros:
Almost no limits: This works on both ends. Casual gamblers are happy with low minimums ($1 to $5), while high rollers can send millions to a casino account in a single go—something impossible with fiat.
Bonus events: Some crypto casinos have awfully lucrative slot races and bonuses with low playthrough.
No accountability: Crypto transactions are not regulated, so they remain invisible to your bank and public bodies.
Negligible fees: Most cryptocurrencies carry exceedingly low fees. In many situations, they are fixed, so the greater the amount sent/received, the lower the fee.

Cons:
No reverse payment: A mistakenly sent sum (e.g. you accidentally typed an extra zero in the end) cannot be reversed. In some instances, a casino can return it but deduct 20% or so.
Game availability: Many games are not adopted for crypto betting. To fix this, you’ll need to convert your crypto into fiat when depositing.
Newbie mistakes: Digital money is still an off-beat means of payment for many people; hence, rookie mistakes are frequent. They can lead to non-recoverable money loss.
Theft: Other payment options can also be vulnerable, but cybercriminals target cryptocurrency users more often because their attacks can have large payouts.

Bank transfer

This is the slowest option of all, but it’s an ideal solution for withdrawing winnings, especially from offshore casinos, which have very few options. Bank transfer is a well-established (and, maybe, somewhat retro) option that links the player’s bank account directly with the online casino. There are no intermediary tools on the way, no debit cards, no wallets, etc.

To make a bank wire transfer to an online casino, a player must provide a few critical financial details, such as the personal account number and the bank’s IBAN. When the money is debited from the player’s bank, they normally move to the casino for about two to three days, which is the most dislikeful thing from the players’ point of view.

On the other side of the coin, bank transfers prove to be indispensable for high rollers. Sure, there are crypto options enabling players to move six-digit sums, but if crypto is unavailable in the casino, a bank transfer will be the best solution. This raises a taxation and accounting issue, but that’s a different pair of shoes.

Bank transfer Pros & Cons

Pros:
Wide availability: This is a frequent option in online casinos banking, most notably for withdrawal.
Perfect safety: Money is safe all the way from the user’s device to the online casino because there are no middlemen in the process.
Ideal in offshore casinos: Since many payment options are inoperative in unlicensed casinos, bank transfer is often the only fiat option for online casinos withdrawals.

Cons:
The slowest online casino banking option: It might kill all the fun because you will have to wait for three days until the money hits your casino balance.
High minimum limits: It is not improbable to see a casino having set a $100 min limit for bank transfers.
High fees: A transaction can be quite costly, $10 to $15. Moreover, fees are often fixed, which makes small transactions unfeasible.

Tip

Use the bank wire as a last resort. This is the worst and least practical payment option for today. Given the obligatory KYC, a slow bank wire would make you get your hands on your winnings in a week.

Online casino banking: Payment option features

There are many types of payment options, some of which are spotlighted above. Players usually gravitate towards a specific option based on its advantages, probable risks, evident drawbacks, and a few other factors that can be essential for some and insubstantial for others. If you have a Mastercard, USDT, and PayPal at hand, and the casino accepts all, it is not always easy to make a decision. There are a few vital aspects that a player must take into consideration before picking one or another option.

Transaction times

For a better understanding of the term “transaction times”, we can dissect it into two constituents (stages) and represent it as a brief formula:

Transaction Time = Casino’s Processing Time + Payment Option’s Processing Time

With online casino deposits, the turnaround is speedy. Gambling and betting sites want to get the player’s money, so they lay the groundwork for effortless deposits. In fact, casinos do not put the brakes on incoming transactions, so a player will see the money credited to the casino balance right away. Casinos do not need to verify their players’ identity or financial standing when they put money into the casino account, so the deposit time depends only on how fast the related payment option works. Casinos are moved out of the equation. That is why a transaction takes a few seconds to minutes.

The situation is different with cashing out money from a casino account. This is where the first part of the equation (Casino’s Processing Time) becomes effective. Almost every online casino outlines a pending time for cashouts (about 24 to 48 hours), during which nothing happens because the KYC process starts a bit later.

When the pending time elapses, the casino experts study the player’s identity to pinpoint the facts of money laundering or other illegal things. This is part of what is known as AML/KYC compliance, and it normally runs after the first withdrawal. A player is required to submit one or more scanned documents to prove his identity, place of residence, and revenue level (though the last point is not necessary for every online casino).

When everything is complete, the player gets his first cashout about one week after submitting the request. If this is not the first cashout, players usually wait about two to three days for all payment options, except for bank transfers, which are much slower (up to one week).

Minimum transaction limit

This is another vital property present in most online casinos out there. General limits (daily, weekly, and monthly withdrawals) are usually set forth in the terms of use, while transaction limits are often envisaged on the player’s banking page and are attached to each payment option. Each online casino has minimum limits that are usually within the range of $5 and $20. No one can deposit less than prescribed to the real money balance. Minimum limits typically depend on the casino itself. Ruled by its considerations, an online casino can set out a $10 limit on CCs and $15 on e-wallets, or vice versa. There’s no apparent logic or regularity in this respect.

The same lack of consistency is discernible in online casinos withdrawal. The minimum limit is what most players look at before signing up. Here, the range is quite broad, from $10 to $50 and higher. Sure thing, low rollers and casual players are interested in lower limits. However, there is an exception: Bank wire withdrawals normally have a higher minimum limit of about $100. Experience shows that some online casinos could go as high as $500. Below are listed the average minimum limits per transaction for each type of payment option. Note that the figures can vary significantly per online casino:

  • Credit cards: $10
  • E-wallets: $20
  • Vouchers: $5 (contingent on the card brand)
  • Bank transfer: $50
  • Crypto: $1 (contingent on the type of crypto)

Tip

Consider digital coins as one of the most comfortable and convenient deposit/withdrawal options as of now. They feature unchallenged limits and blazing-fast movement from a sender to recipient.

Case

A high roller made a $5000 dep and won $50,000 during one session. The casino’s daily limit is $2500, translating into 20 days of cashing out each day (or longer, considering the pending time). The player turned to a support rep, asking them to put up the limit and allow him to cash out in a single sum. They agreed. Conclusion: Limits are not indisputable.

Transaction fees

Moving money to and from an online casino means paying transaction fees, much like when you buy something online or send money to a friend. So, when dealing with online casinos, your transaction fees will be the same when you perform other actions with your money online.

For example, credit card transaction fees are about 1% to 2%. Electronic wallets charge more or less the same. Bank transfer options are the costliest as they often apply flat-rate fees that can reach $15 for any amount, making bank wire the least attractive way of moving money to/from online casinos. As for cryptocurrencies, players pay only miner fees, if applicable.

Interestingly, there are exceptions. Some online casinos impose additional fees on outgoing transactions, so players who want to cash out will be subject to administrative fees set by the casino operator. Normally, they are not high (about 1%), but this looks unfair from the players’ perspective.

Case

A player deposited $100. He spent only $5 on video slots, and a lucky streak brought him a $500 win. The player decided to withdraw the $500 immediately and not push his luck. Surprisingly, the casino informed him of a 20% fee instead of an average 1% Visa fee. Talking to the cust support, the player learnt that he would have wagered the deposited amount at least 3x times before being permitted to cash it out free of charge. Cases like that are common.

Pivotal gambling regulators and payment options

You can wonder why online casinos need a license. There are three main reasons:

  1. They want to enter a specific country which has an effective gambling law requiring every online gaming provider to acquire a locally issued license (not from Curacao or another offshore permit). Without getting a national license, the online casino is not permitted to sweep into the market. If an online casino begins to use mirror sites to operate in the country illegally, it will soon be blocked, and its owner can be fined (though the latter does not often occur because law enforcement is a tricky thing in online gambling).
  2. Online casinos want to get linked to international and country-wide payment options. The vast majority of payment providers deny service to unlicensed casinos, betting sites, poker rooms, and sportsbooks. Similarly, casinos need game libraries from well-known game studios (Evolution, Pragmatic Play, etc.), which want their products only offered in licensed casinos.
  3. Having an effective license, no matter the issuer, ensures players’ peace of mind. However, this reason seems to be of the lowest importance for online casinos.

So, for an online casino to enter a specific country and get connected to local or global payment options, the online casino, a betting site, and other gambling entities must obtain a license. Some casinos skip that step and work without a license—and this is not bad for players, either. Below, we are exploring the principal agencies that oversee and regulate various forms of gambling within their respective countries and regions. These jurisdictions often pre-determine the scope and structure of online casino banking.

UK Gambling Commission

What sets the UKGC apart from many other gambling regulators is its proactive and stringent approach to regulation. Unlike some regulators that take a more passive stance, the UKGC is known for its active enforcement and strong commitment to protecting players. It places a significant emphasis on social responsibility, requiring online casino operators to prioritise the prevention of problem gambling and the well-being of players. Licensed online casinos typically offer a wide range of payment options to cater to the diverse needs of players: cards, e-wallets, mobile payments (Google Pay, Apple Pay), and payment apps (Zimpler, Trustly). A growing number of UKGC-licensed gambling sites and sportsbooks are starting to accept cryptocurrencies.

National Gambling Authority (France)

Autorité Nationale des Jeux (ANJ), also known as the National Gambling Authority of France, is the regulatory body overseeing all forms of gambling in France. Established in 2020, ANJ took over the responsibilities of the former regulatory authority, ARJEL (Autorité de régulation des jeux en ligne). ANJ's mission is to ensure the integrity, safety, and fairness of all gambling activities in France, including online casinos, sports betting, and lotteries. Payment options accepted in online casinos with a French license from ANJ typically include traditional methods like credit and debit cards, bank transfers, and e-wallets like PayPal and Skrill. ANJ-regulated casinos may also provide localised payment options for French players (Carte Bancaire).

Spelinspektionen (Sweden)

The Swedish online gambling market is regulated. Spelinspektionen, known as the Swedish Gambling Authority, was established in 2019 to regulate the industry. It holds authority in granting licenses, enforcing regulations, and ensuring market integrity. Online casinos with a Spelinspektionen license typically accept local payment options to cater to Swedish players. Common choices include Swish and BankID, the latter being a widely used electronic identification solution in that country. It is often integrated into online casinos to streamline the registration and verification process. Bank transfers, credit/debit cards like Visa and Mastercard, and e-wallets are also available.

National Gambling Board (South Africa)

The National Gambling Board (NGB), established in 1996 under the National Gambling Act, is responsible for regulating all legal gambling activities, including casinos, betting, and the national lottery. It issues licenses, ensures compliance with relevant laws, and promotes responsible gambling. The NGB conducts industry research and develops policies. Online casinos with NGB licenses often accept various payment options to accommodate South African players, such as credit/debit cards (Visa, Mastercard), EFT (Electronic Funds Transfer), SID Instant EFT, and digital wallets like SnapScan, Zapper, and Ozow, making transactions convenient for local gamblers.

Hellenic Gaming Commission (Greece)

The HGC was established in 2011 to take measures to combat illegal gambling activities. Before that time, only land-based casinos were entitled to work in the country. Currently, the agency issues two types of permits to gambling entities: an online casino license and an online betting license. The country gives leeway to casinos (e.g. the licensing costs were decreased to €2m from €5m, and the license validity was prolonged to seven years), making it one of the fastest-growing gambling markets in Europe. Payment options accepted by online casinos with an HGC license cater to the local market by offering payment methods commonly used by Greek players, e.g. bank transfers through the National Bank of Greece, Alpha Bank, and Piraeus Bank. E-wallets like Skrill and Neteller are also commonly accepted, providing convenient ways for Greek players to deposit and withdraw funds.

Betting Control and Licensing Board (Kenya)

The BCLB is a governmental agency that falls under the Ministry of Interior and Coordination of National Government. It is tasked with issuing licenses, monitoring gambling operations, and ensuring compliance with Kenya's betting and gaming regulations. Over half of Kenyan gamblers use M-Pesa as the most accessible mobile payment solution. Credit/debit cards are not used widely in online casino banking. Cryptocurrencies are also unpopular. Airtel is Kenya’s other mobile network operator that provides USSD payments to licensed online casinos. You will rarely encounter an offshore casino in Kenya because having a BCLB license is a must for the online casino business there.

AAMS (Italy)

Italy has a well-established regulatory framework for various forms of gambling, including sports betting, casino games, poker, and bingo. The regulatory authority responsible for overseeing gambling activities in Italy is the Amministrazione Autonoma dei Monopoli di Stato (AAMS), which translates to the Autonomous Administration of the State Monopolies. The AAMS is responsible for issuing licenses, enforcing regulations, and monitoring the Italian gambling industry. Online casinos operating in Italy enjoy a more relaxed taxation regime than in many other European countries: They must pay 20% of the gross profit and an 11% flat rate for games of chance (slots, roulette, etc.). Popular online casino banking options are Postepay, Bancomat, and Satispay.

Directorate General for the Regulation of Gambling (Spain)

Online casino gaming (including slots and table games) is legal in Spain and is regulated by Law 13/2011, of 27 May 2011. A company seeking a licence must be a limited liability company with an address in an EEA member state. The gambling legislation does not prohibit non-residents from playing in an “.es” gambling webpage, but it is the operator’s obligation to block players’ IPs from the countries where gambling is prohibited for their residents. Cryptocurrencies can be implemented in online casino banking, provided that the player’s gambling account is nominated in euros. There are many fiat payment options accepted in DGRG-licensed online casinos, including debit/credit cards, paysafecard, Sofort, Boku, SafetyPay, and Teleingreso.

Playing in online casinos with local licenses

Visiting and becoming a member of a licensed online casino is the safest and most straightforward way into gambling entertainment. Suppose you are a Greek resident and want to play comfortably on a regulated gambling site. That’s easy: You find a casino holding a valid HGC license (there are about 30 sites like that), create an account there, make a deposit, and start playing for real money. Sounds easy and rosy. However, there are many pitfalls that you might face eventually.

Every gambling regulatory body in any country takes gambling seriously. They want to prevent players from developing an addiction. They want to safeguard players from rogue sites. They want casinos to pay taxes to government coffers. This looks like a good cause, and it really is. But the problem is that many gambling regulators veer over the top with their ambition to protect players. Consequently, they embrace so many restrictions that regular players start to be scared away from all licensed casinos because of this experience. Some of the measures put in place by gambling jurisdictions are as follows:

  • Self-exclusion lists: Great Britain has Gamstop, Australia—BetStop, Sweden—Spelpaus, and so on. Once there, a player must wait for many months for this ban to expire.
  • Maximum stake limits: The Hellenic Gaming Commission in Greece caps the max bet in any game to €2, while the maximum prize per gaming session is €5000. The biggest jackpot allowed is €70,000, thus limiting progressive jackpot games.
  • Slot gameplay restrictions: The HGC dictates the duration of any spin must be more than 3 seconds. The UKGC endorses only the video slots that have no “Turbo” and “Spin Stop” features to speed up the reel rotation.
  • Censorship on game messages: The Spanish regulator is thumbs down on certain comments if the player loses, such as “You were close”, “You’ve almost won”, and similar.
  • No multi-screen play: According to the UKGC, online casinos are not permitted to offer functionality designed to allow players to play multiple slots at the same time. This includes split-screen functionality.
  • No Auto-Play feature in slots: According to a new requirement from UKGC (came into force on 31 October 2021), providing auto-play for slots is not allowed.
  • Display of the net position: Some regulators obligate online casinos to clearly display a player’s net position (the total of all winnings minus the sum of all losses since the session started) in their account currency during all gaming sessions.

Playing in online casinos with offshore licenses

Some online casinos hold offshore gambling licenses. They are easier to acquire and are less stringent to casinos in many respects. The agencies issuing what is widely regarded as offshore licenses are as follows:

  • Gibraltar Gambling Commissioner
  • Malta Gaming Authority (MGA)
  • Curacao Gaming Authority
  • Alderney Gambling Control Commission
  • Isle of Man Gambling Supervision Commission
  • Costa Rica: There’s no special regulatory authority in that country. Licenses are typically obtained from the Ministry of Economy, Industry, and Commerce in Costa Rica

Noteworthy, these licenses do not entitle holders to offer gambling services in any country. Suppose you see an online casino in France. It has a Curacao license but holds no domestic permit that must be issued by ARJEL. The implication is that the casino operates illegally in France because its Curacao license does not empower the holder to act in the country.

However, many offshore casinos featuring an MGA, Curacao, Kahnawake or other licenses are available in specific countries (South Africa, the US, etc.) without a local license. As a general guide, players should not be uptight about them. Unlicensed online casinos are suppressed by regulatory authorities because the former siphon away significant revenues from legitimate operators. Regulators try to force ISPs to block these sites—sometimes, successfully—but this is not good for normal players because regulatory bodies degrade the selection and cut players off from doing what they like.

Pros and cons of offshore casinos

Pros:
Access to casino games and bonuses in the jurisdictions where the laws forbid this kind of business.
Not bound by self-exclusion lists.
No restrictions on winnings, deposit sizes, bet sizes, and other aspects that are usually heavily limited by licensed casinos.

Cons:
Fewer payment options, especially credit/debit cards.
You will hardly find help if an offshore casino decides to play foul, but this happens rarely. If you select a reputable brand, you will hardly get scammed.
Sometimes, the game selection can be narrow because many top game providers are unavailable in offshore casinos.

Tip

Sign up in a reliable offshore casino if you have registered for a self-exclusion program (e.g. Gamstop), and it keeps you from logging into a licensed online casino. We encourage everyone to play responsibly; however, you cannot roll back if you have a temporary ban in a self-exclusion program.

How offshore casinos bypass banking restrictions

Payment platforms are reluctant to operate in areas where online gambling is legally restricted completely or partially. Moreover, they do not want to cooperate with unlicensed online casinos that try to come into a regulated market. So, players often run into issues in an effort to find a proper online casino deposit or withdrawal option. Trying to get around that obstacle and add more payment options to the cabinet, casino operators resort to technical tricks and turnarounds, some of which are explored below.

Transaction miscoding

Banks issuing and servicing Visa/Mastercard normally block transactions to and from online casinos if the player’s country restricts online gambling. However, online casinos manage to make transactions, and banks are often unaware of who they are dealing with. Each bank transaction has its own code, and payments from/to online casinos should be labelled correspondingly.

However, some casinos mask themselves as food companies, e-stores, car accessory outlets, or other non-gambling entities. So when a player initiates a Visa transaction in an unlicensed casino, there is a chance it will go through because the player’s servicing bank will see the transaction as channelled to a clothes store instead of an online casino. Due to this practice, offshore casino customers can get access to some or all credit card products.

P2P payments

Person-to-person payments, also known as P2P, are becoming extremely popular when it comes to depositing to offshore casinos. P2P is not a standard payment option that is a product of a certain corporation (like there is a brand powering paysafecard or a company behind Neteller, and so on) but rather a technology that more and more online casinos are turning to.

It is not easy to characterise the exact process of using P2P for online casino deposits because your service provider will likely have proprietary procedures in place that can flow like this: The player registers an account with a P2P provider and ties a source of funding it (a card or bank account). Consequently, when depositing to an online casino, you will be using that source of funding in your P2P account. This banking option is typically offered in some African and Asian countries.

Key takeaways

Most online casinos give a hefty selection of reliable payment options, both localised and international. Even if you want to join an offshore casino with a Curacao or MGA license, you will always find a secure payment getaway, including cryptocurrencies. Each banking solution comes with pros and drawbacks, providing players with diverse experiences. Though licensed online casinos are in full compliance with the gambling framework of a specific country, players should not stay away from offshore casinos, as the former bring tons of benefits without compromising their reliability. A proper selection of payment options, considering their fees and other factors, will help you get the most out of the gambling experience.

FAQ

What payment options do online casinos accept?

Online casinos typically accept credit cards, debit cards, e-wallets, bank transfers, prepaid cards, and cryptocurrencies.

Are online casino payment transactions secure?

Yes, reputable online casinos secure payment transactions, ensuring the safety of your financial information.

Are there any fees with online casino transactions?

Fees can vary depending on the online casino and payment option. Some casinos offer fee-free transactions, while others may charge a small commission. Always check the terms and conditions.

What are the advantages of using crypto in online casinos?

Cryptocurrencies offer fast, secure, and often anonymous transactions. They can also provide additional privacy and potentially lower fees.

Can I use credit and debit cards in online casinos?

Normally, yes. This depends on the online casino, your country of residence, and the bank that has issued your card.

How fast are withdrawals in online casinos?

Withdrawal processing times vary depending on the online casino and payment method. E-wallet and cryptocurrency withdrawals are typically faster, while bank transfers may take longer (up to a week).

What is an offshore casino?

An offshore online casino is a gambling website registered and operated in a foreign country, often chosen for favourable regulations or tax benefits.

Are offshore casinos safe?

Typically, yes. Operating without a local license does not make an offshore casino insecure or rogue. You must choose reliable offshore gambling sites to avoid scams and financial harm.

Will I break the law playing in an offshore casino?

No, players have no problems with local laws if playing in any offshore casino for real money unless they live in a Muslim country that strictly prohibits their citizens from gambling in casinos.