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The average online casinos usually support more than ten distinct payment methods. Although you might already have a favourite provider, have you ever wondered which payment options can make your lives easier?
We’re not just talking about the provider’s reliability. We trust you’re capable of telling a trusted provider from a dodgy imposter. No, we’re looking at the finer details – the very features that affect your day-to-day online casino fun such as whether a casino has great loyalty programs.
That’s why our guide walks you through the pros and cons of each online casino payment method, highlighting their processing times, deposit and withdrawal caps, transaction fees and more. We’ll also pinpoint any casinos that offer instant withdrawals for players in India.
With the Master of Casinos’ guide to VIP casino payment methods, you get all the tools you need to fully understand what each provider brings to the table.
Sure, there are many online payment methods to choose from but it ultimately boils down to three distinct types – bank transfers, debit/credit cards and e-wallets. All these come with distinct pros and cons including different levels of security, accessibility and transfer speed and whether or not you can use them with all casino bonuses or VIP Bonuses.
Read on below to find out which payment method we turn to the most and why – for more information about all our recommended casinos, check out our casino reviews or casino guide.
You may have been told that bank transfers should only be used as a last resort, but they’re actually the ideal choice for high rollers. Sure, bank transfers have longer processing times and come with associated fees, but they’re still a highly accessible payment method.
With higher deposit limits and virtually no limitations on the number of transactions you can place, bank transfers offer just the level of freedom we need.
Debit cards’ biggest selling point is their unmatched level of protection. Any transaction you make gets security from the casino, card provider and bank. For the most part, debit card limits are similar to bank transfers. However, in this case, you’ll need to make sure you have enough card balance to cover your transfers. While casual players see this limit as a helpful tool, it just creates another level of bureaucracy for high rollers.
E-wallets are the most modern payment method you’ll find at online casinos, prioritising convenience above all else. These solutions come with the fastest deposit and withdrawal times, allowing them to process payments instantly. But perhaps the biggest advantage here is the division that e-wallets set between your online casino activity and your bank accounts. Online casino activity doesn’t directly impact your credit score, but online casino transactions on your statement will make it harder for you to borrow money from banks. However, you don’t need to worry about this when using an e-wallet. This is because banks can’t track your casino play, with no way for them to tell if your transactions are gambling related.
As the name implies, yes, if you choose this method you can make your payments through your mobile network. There are many operators you can go for if you prefer to go with this method. Some popular ones include:
Cryptocurrencies can be particularly lucrative for VIP players, but the payment method is still not widely accepted by online casinos.
Anonymity is the crypto’s primary advantage, providing an additional layer of security, even better than that of e-wallets. And speaking of e-wallets, crypto solutions come with similar lightning-fast transaction speeds, processing deposits and withdrawals in no time.
Bitcoin, Litecoin, Ethereum and Dogecoin are some of the most supported cryptocurrencies, although strong gambling commissions such as the MGA and UKGC are still slowly rolling out support for these options.
Google Pay is extremely efficient when handling payments from your Android devices and is even supported by most online casinos. Although the method is fast, easy, and efficient, it’s not the ideal option for high rollers. The provider comes with a low maximum transaction cap, which significantly limits the amount you can transfer in one go.
Apple Pay works in a similar way to its Google counterpart and comes with the same set of drawbacks. It’s also limited to Apple products only making it less accessible than the wider range of devices that run Android systems.
All payment methods bring something useful to the table, but as a high roller, you need to be on the lookout for specific traits that fit your requirements.
Although transaction times are important, the biggest concern for high rollers comes from deposit and withdrawal caps. This makes e-wallets a hard recommendation, given their several transfer cap restrictions. Cryptocurrencies can be an ideal choice, delivering anonymity, lightning-fast transactions, and no restrictions on transfer caps. But on the other hand, these are still not widely supported by online casinos, leaving you with just a few online casinos to choose from.
That brings us to the conclusion that debit cards and bank transfers are the best options. Sure, you’ll have longer waiting times, but higher transaction caps compensate for that. We also recommend finding a casino with a top VIP club as this will reduce transaction times and increase your transaction limits further.
Withdrawal times depend on the selected payment method, rather than specific online casinos. The fastest methods are e-wallets which can process withdrawals instantly.
Most online casinos treat their VIP players to increased deposit and withdrawal caps, allowing them to move larger chunks of money back and forth from their casino accounts.
No, online casinos have transaction amount caps, which largely depend on the payment method you choose. Bank transfers and debit card options have larger caps than e-wallet solutions, for example.
To become a VIP member, you need to establish a long-term relationship with your chosen online casino as a frequent player. You also need to prove your worth by placing a large bet, hence becoming a high roller.
Transaction fees vary according to the payment method you choose. Most options are completely free, but methods like bank transfers can charge a percentage fee on every transaction you make.
Yes Skrill is both legal and safe to make payments at online casinos in India.
Mitra is the content expert of masterofcasinos.com. He and his team are responsible for updating bonuses, publishing useful info for readers and keeping the site in good health. Mitra is a massive Roulette and poker fan and loves to spend his time in his favorite online casino's Live Casino section.