Best Online Casino Payment Methods September 2024
In May 2024, the American Gaming Association (AGA) provided a "Commercial Gaming Revenue Tracker" report relevant to the growing availability and popularity of online casino payment methods.
Online gaming (iGaming and sports betting) in the U.S.-regulated market generated a record $5.16 billion in revenue for the first quarter (Q1 2024). The online gaming sector comprised 29.3% of the market share in the commercial gaming sector, another record.
Various payment methods, like credit and debit cards, bank transfers, prepaid cards, and e-wallets, are essential to the long-term success of online casinos.
Let's take a closer look.
CONTENTS
- Types of Online Casino Payment Methods
- How to Pick the Right Online Casino Payment Option
- Best Online Casino Payment Methods
- Depositing Funds at Online Casinos
- Withdrawing Funds at Online Casinos
- How to Stay Safe When Making Online Casino Payments
- Online Casino Payment Methods FAQs
Types of Online Casino Payment Methods
Some federal laws may prohibit interstate online transactions related to online gambling. However, individual states retain the right to regulate online casino payment methods, including the Multi-State Internet Gaming Agreement (MSIGA) for online poker.
By law, online casino operators must provide safe and secure access to the following payment methods.
Cards
- Credit or debit card (VISA, MasterCard, American Express, Discover, etc.)
- Prepaid cards (Play+)
The availability of credit and debit cards depends on the online casino you use and the legal jurisdiction you play from (Connecticut, Delaware, Rhode Island, Michigan, New Jersey, Pennsylvania, West Virginia). Play+ prepaid cards are widely accepted at online casinos.
Online Banking & Transfers
- Bank wire transfers
- Online banking
- VIP Preferred (e-check)
Bank transfers (or wire transfers) move funds electronically between a player's bank account and a designated bank account for an online casino. Business accounts, such as credit or debit card payment methods, are usually not permitted. Online banking uses a third-party payment service (Trustly) to transfer funds between bank accounts. In contrast, the VIP Preferred payment method transfers an electronic check from a player's checking account.
E-Wallets
- Apple Pay
- PayPal
- Skrill
- Venmo
Players must use a Safari web browser for Apple Pay deposits and withdrawals (if available). To use PayPal as a payment method, players must have a bank account connected to their name. Skrill and Venmo are additional payment methods via a third-party service or e-wallets.
Cash (In Person)
- Cash at the casino cage
- PayNearMe
Online casinos must partner with in-state casino operators, so cash deposits are an available payment method at retail locations. Players must bring a government-issued ID to confirm their identities when depositing cash at a casino. PayNearMe is another payment method for depositing money via a scannable barcode at participating stores like 7-Eleven, CVS Pharmacy, Dollar General, Family Dollar, and Walgreens.
Crypto Deposits
Since the U.S. government doesn't regulate cryptocurrencies, online casinos don't offer them as payment methods. Online gambling sites that provide crypto payments are licensed and regulated offshore, and there's no legal guarantee that players' personal and financial information will be protected.
For your safety, we recommend avoiding any online casino site regulated outside the U.S. legal system.
How to Pick the Right Online Casino Payment Option
The best casino payment methods offer instant deposits and quick withdrawals. Here's a look at some features to consider when choosing an online casino banking option that suits your bankroll and playing style.
Check out our review on bitcoin payment methods to learn more.
Availability
Various payment options should be available when you deposit money at an online casino. Offering secure payment methods like debit cards, bank transfers, and e-wallets is essential for online casinos to stay competitive. Before you create an online casino account, make sure the casino you choose lets you deposit and withdraw money easily, per your needs and requirements.
Deposit & Withdrawal Speeds
Most online casino players want to know they won't have to wait too long when withdrawing money. The best casino payment methods provide instant deposits without any processing fees, paired with withdrawal processes that are easy and quick.
Payment Safety
Security measures are among the most crucial factors for making deposits and withdrawals. We recommend players choose methods that protect their personal and financial information. Ensure the casino site, casino app, and third-party service provider show a digital certificate via a padlock icon in the URL window for SSL data encryption.
Read our review on legit online casinos.
Casino Bonuses
Online casinos offer casino bonuses to get you started playing casino games. Promotions may include a deposit match, free spins, or cash-back. Most bonuses require a minimum deposit, and we recommend players use a quick deposit method to get their welcome bonus as fast as possible, especially if it expires within a short time frame.
Best Online Casino Payment Methods
First-time players want reliable payment options for online casino games like blackjack, roulette, and slots. We'll cover some of the best casino payment method choices for players new to online gambling sites.
PayPal
In Q1 2024, about 78% of people who used online payments in the U.S. were PayPal users. PayPal remains one of the most popular payment options (widely accepted at online casinos). With instant deposits, PayPal withdrawals usually get processed in one to 24 hours. PayPal may require separate transaction fees under five per cent.
Trustly
Most online casinos use Trustly (a third-party payment provider based in Stockholm, Sweden) for free bank transfers. Deposits via Trustly are instant, with withdrawals taking one to five banking days.
Debit Card
Most online casinos accept instant deposits using debit cards (Visa, Mastercard, Discover, American Express, etc.). Withdrawal requests via debit cards may take anywhere from a few hours to one day. Check with your bank to see if they charge additional fees for debit card withdrawals.
Depositing Funds at Online Casinos
Online casinos generally offer similar deposit options. However, each operator may require different rules regarding a deposit method.
We'll examine how to choose an online casino that suits you best.
Choose an Online Casino
First-time players of online casino games might want to find a platform that offers free demo play options. Games like baccarat, blackjack, craps, roulette, and video poker require a bit of knowledge regarding odds and payout.
We recommend players get the gist of various games by trying them out for free. This way, you can learn how to play baccarat or how to play roulette in a safe environment.
For example, online slots generally provide return-to-player (RTP) averages around 95% to 96%. Based on random number generators (RNGs), players can learn what to expect from a slot's potential payback (i.e., an RTP of 95% theoretically returns $95 for every $100 wagered).
If you prefer slots, we'd recommend online casinos like BetMGM Online Casino and Borgata, which offer thousands of titles. These online casinos also provide 100% deposit match promos ranging from $1,000 to $2,500, plus no-deposit bonuses worth up to $50.
Other options like DraftKings, FanDuel Casino, and Golden Nugget provide various deposit methods to play casino games from top software providers like IGT, Light & Wonder, and NetEnt. You'll also find plenty of live dealer games from Evolution Gaming, including baccarat, blackjack, craps, roulette, and poker.
Create and Register an Account
Online casinos make it easy for players to register a new account. You don't have to live or reside in a legal state. When placing real money wagers online, you must confirm your location within a legal jurisdiction. (If you sign up via a mobile app, some online casinos require verifying your location before deposit options become available.)
Here's how to create and register an account:
- Choose an online casino from our list of recommended options.
- Click 'Sign Up' or 'Register.' (You can also download an iOS or Android mobile app from the App Store or Google Play. Open the app and start the registration process.)
- Create a username and password for your account.
- Enter an optional promo code.
- Type in the following personal details: name, address, mobile number, the last four digits of your SSN, etc.
- Confirm your identity (if necessary) via Know-Your-Customer (KYC) protocols.
- Finish registering your new account.
- Verify your location is in legal jurisdiction (if necessary) and make your first deposit.
Pick a Preferred Payment Method
Choosing a payment method depends on the online casino and personal preferences. Most casinos require a minimum of $5 to $10 for instant deposits. High-rollers may prefer debit and credit cards, cash, or e-wallets for limits up to $25,000 or more.
Here's an overview of free and instant payment methods for deposits:
- Apple Pay
- Bank wire transfer
- Cash at the casino cage
- Debit and credit cards
- Online banking (Trustly)
- PayNearMe
- PayPal
- Prepaid cards (Play+)
- Venmo
- VIP Preferred (e-check)
If you want to learn about social casino currencies, read our article on sweepstakes coins.
Deposit Desired Amount
Players can find their available deposit methods via their account dashboards. From there, you can view the limits for minimum and maximum deposits. (If you use a promo code while signing up for a new account, make sure you know the terms and conditions for a minimum deposit to receive your welcome bonus.)
Depending on the casino, you may find the following maximum limits on deposits:
- $500 - PayNearMe
- $10,000 - Apple Pay, online banking (bank transfer), PayPal
- $30,000 - Debit or credit cards, cash at the casino cage
- Above $30,000 - Skrill
Here's how to deposit at online casinos:
- Log in to your preferred mobile app or platform.
- Click 'Deposit' from the home page or the Cashier under your account dashboard.
- Choose a deposit method from the available options.
- Enter the desired amount.
- Provide the required details (if necessary) and confirm your deposit.
Now, you're ready to play online casino games!
Withdrawing Funds at Online Casinos
You'll be eligible for various withdrawal options when you win at online casino games. Popular methods include debit cards, online banking, and PayPal. Some online casinos require withdrawals to match previous deposits (i.e., PayPal deposits allow PayPal withdrawals to become available).
We'll cover the process to help beginners understand how to make a withdrawal request.
Click on the Cashier Section
Withdrawing funds from online casinos may change slightly, depending on the method you use (desktop, app, or mobile web browser).
To request a withdrawal from a mobile app, you can:
- Log in to your account.
- Enter your account dashboard.
- Select the 'Withdraw' button from the Cashier window.
- Choose a method and enter the amount you want to withdraw.
- Click 'Withdrawal Request.'
The process works the same for desktop and mobile web browser versions of online casinos. You may need to locate a Menu icon to view Settings and Account Information. Then, you can find a My Account page, where you'll get access to the cashier window.
Withdraw with Preferred Payment Method
The available withdrawal methods ultimately depend on the online casino you use and the legal jurisdiction from where you play casino games. Online casinos may also require an internal review period that can take 24 hours to five days before the withdrawal is processed.
You'll most likely need to provide verification documents to confirm your identity for your first withdrawal. After that, the process should be easier and faster for the same withdrawal method.
Generally, there's a $1 to $10 minimum for withdrawals, while some withdrawal options might not have a minimum amount. Processing times depend on the online casino, and any fees may be associated with the third-party service provider associated with your chosen method.
Here are some of the available options for withdrawal requests, including speeds and maximum limits per transaction:
- Apple Pay - within 24 hours - $25,000
- Bank wire/online banking (Trustly bank transfer) - up to five banking days - $100,000
- Cash at the casino cage - within an hour - $100,000
- Debit card - within 24 hours - $30,000
- PayPal - within an hour/up to 24-48 hours - $60,000
- VIP Preferred (e-check) - up to 72 hours - $100,000
- Venmo - up to 48 hours - $20,000
How to Stay Safe When Making Online Casino Payments
Playing casino games online requires secure transactions from trustworthy companies. Online gambling businesses must provide instant access to payments and safe withdrawals to ensure repeat customers.
Here are a few things to remember to remain safe when playing at any online casino.
Data Protection
To protect personal information and financial data, online casinos must use the latest anti-virus software (like consumers) to prevent external hacks. Data encryption is also essential for blocking hackers from directly accessing personal account information. Third-party payment systems and multi-factor authentication add additional layers of protection for your online safety.
Regulated Safety
Playing casino games from our recommended options means you'll receive protection from in-state regulatory agencies. These casinos maintain proper licensing by following legislative guidelines to provide safe and secure online payments to customers in legal jurisdictions.
Learn even more about online casinos.
Online Casino Payment Methods FAQs
What types of payment methods are available at online casinos?
Online casino companies offer various safe and secure payment methods. Options include bank transfers, cash at the casino cage, debit and credit cards, prepaid Play+ cards, and PayPal.
Are payment methods at online casinos safe and secure?
By law, online casino operators must provide safe and secure payments to online consumers. Regulated by in-state agencies, if a casino fails to comply with the law, it risks losing its license.
Are there payment method fees at online casinos?
Most casinos don't charge fees for online payments or withdrawals. However, third-party services may charge a transaction fee, depending on your bank or e-wallet.
How long does an online casino's deposit and withdrawal process typically take?
Most deposits are instant at our recommended online casino brands. Withdrawal requests typically require an internal review process that takes 24 hours to five days. However, specific withdrawal methods at certain casinos may only take up to an hour (after the internal review), including PayPal, Play+ cards, and cash at the casino cage.
Read our review about best no deposit casinos.
Are taxes attached to winnings when playing at online casinos?
Depending on their state, players are responsible for taxes on any winnings associated with online and retail casinos. There's a federal tax rate of 24% on gambling winnings over $600.