Best Elo Online Casinos 2024

By Jaya Priya 05.04.2023, updated 18.11.2024

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If you’re an online gambler in Brazil looking for a payment method with a solid base, Elo is your best option. Elo casinos are popular in this South American country, with players able to use credit, debit, and prepaid cards to fund their accounts. In this review, we will go into detail about Elo, including how to deposit and withdraw, fees, and limits, among other important aspects. We also have a list of online casinos accepting Elo you can choose from. 

General information about Elo

Elo is a Brazilian payment card brand launched in 2011 by collaborating with major banks, including Banco do Brasil, Caixa Econômica Federal, and Banco Bradesco. 

The Elo card quickly gained traction in Brazil, becoming the third most popular payment card after Visa and Mastercard. Elo offers a range of card options, including credit, debit, and prepaid cards, with features such as contactless payments and instalment payment plans​.

Elo cards are not just confined to domestic use; they have international acceptance through a partnership with Discover Financial Services, allowing cardholders to use them in over 200 countries globally.

Elo market coverage

Elo’s primary target is the Brazilian market. However, this payment method continues to make significant international strides thanks to its partnership with Discover. 

As a result, Elo cards are now accepted at millions of locations worldwide, including gambling-friendly countries. They include European countries, such as Spain, France, and Italy​.

Being a Brazilian-centric payment method, Elo supports the Brazilian Real (BRL). However, it can also process transactions in USD and other currencies through the Discover network. 

How to deposit to online casinos with Elo

Playing for real money at online casinos that accept Elo requires you to fund your casino account. The good news is if you’ve used a Visa, Mastercard, or other bank cards, then using Elo will be a breeze for you because the process is similar. Here’s how to go about funding your online casino account using Elo:

1. The first step is to find an online casino that takes Elo. You skip this tiresome task by choosing from our list of sites listed on this page. 
2. Navigate to the cashier page or banking section and choose Elo as your preferred deposit method. 
3. A pop-up window will appear, asking you to enter your card number, expiration date, and CVV code. 
4. Enter the amount you wish to deposit and authorise the transaction. 
5. The funds will be available in your online casino account almost instantly so you can start playing your favourite games. 

How to withdraw from online casinos with Elo

After winning at your favourite online casino games, you can cash out your winnings using Elo. Thankfully, the process is just as simple as depositing:

1. Log in to your account, navigate to the withdrawal section under the cashier option and choose Elo as your preferred withdrawal method. 
2. Next, specify the amount you wish to withdraw.
3. Authorise the transaction and wait for the casino to process it. How long you’ll wait will depend on your online casino’s policy – we’ll explore this further in a second. 

Transaction times and fees in Elo casinos

The limits for withdrawals and deposits vary significantly from one online casino to another. However, your card issuer may impose different limits for the maximum amount you can use on your card per day and the number of daily transactions. 

When it comes to the fees, users can expect a €0.11 + an interchange 0.60% fee when using Elo. It’s, however, important to note that online casinos don’t impose this fee. Instead, it’s the bank in question charging this amount. In most instances, top Elo casinos offset this amount. 

As for the transaction times, Elo offers instant deposits. That means you can start playing your favourite online casino games immediately. However, the same cannot be said for withdrawals. Online gambling sites have different processing times. As such, you cannot set a guaranteed timeline for when you can receive your winnings. Typically, you can look forward to about 1 to 3 business days. 

Pros and cons

While Elo may be a solid option in Brazil and other countries, it has certain downsides. In this section, we explore the pros and cons of Elo online casinos. 

Pros

• Flexible payment methods, which include credit, debit, and prepaid cards. 
• Instant deposits with Elo allow you to start playing your favourite games without delay. 
• With its partnership with Discover, Elo has an international reach allowing online casinos to offer it as a payment solution. 
• Being a leading payment option in Brazil, Elo is a familiar and trusted method for Brazilian players, enhancing their confidence when transacting with online casinos.
• Elo employs advanced security measures such as 3D Secure and tokenisation, ensuring that transactions at online casinos are safe and secure​.

Cons

• Limited casino partnerships: Not all online casinos in Brazil list Elo as a payment option.
• Long processing times, with withdrawals taking a few days to process.
• Currency conversion fees may apply when transacting in currencies other than BRL.

Conclusion 

Elo is a reliable and secure payment solution for online gamblers interested in the traditional credit/debit card system. For Brazilians, this option ranks among the most popular in the country. However, thanks to the partnership with Discover Financial Services, Elo is available worldwide through this network. There are fees you will incur when transferring funds from your bank account, but they are minimal. Besides, it’s a small price to pay, considering the security you enjoy while transacting. Ultimately, Elo casinos provide an alternative to the common payment solutions.