Depositing money into an online casino account should be a fast and simple process, and in the majority of cases, it is. However, the issue of online security is something that most consumers take a serious view of, with the threat of cybercrime a frightening reality.
When searching for an online casino, especially for US citizens, offshore operators can provide a great selection of titles and offers that make them a good option. With the majority of US states prohibiting online casino operators, consumers are forced to look at these alternatives.
The best of these options will be licensed in their own jurisdictions, providing a high level of speed and security regarding deposits and payouts. iGaming specialist Jovan Milenkovic at adventuregamers.com reviews fastest payout sites, with a focus on security, offer types, game selection, and the payment methods they accept. But what payment method is best for online gaming?
The Most Popular Gaming Payment Methods and How Safe They Are
Online casino sites that offer a variety of payment methods tend to do well because customers have their own preferences in terms of convenience, speed, and security. With this in mind, we explore how secure the most popular gaming payment methods are.
Wire Transfers
Bank or wire transfers are direct, peer-to-peer payments between a bank account and an operator. This provides the user with a traceable transaction with no third-party involvement that requires data sharing.
There are pros and cons to this method, including the benefits of its direct nature that can offer security as long as the recipient is trustworthy. However, this method is one of the slower options that can’t be reversed when it has been completed, and could expose banking details if the recipient is risky.
Card Payments
Card payments are the most common option and have strong consumer protections, including fraud monitoring and chargebacks. Most payment processing technology will use tokenization and encryption as a security precaution against data being intercepted, and the biggest card providers like Visa and Mastercard have additional authentication processes.
Despite a lot of benefits, there is still the risk that card details can be exposed if sites are compromised, and banks can block or flag gambling transactions depending on local regulations.
PayPal
Third-party payment sites might sound like an inconvenience, but the popularity of PayPal and its mechanics make it one of the best online payment options. Payment protection is high with PayPal, and its dispute resolution service is able to investigate any issues consumers may have.
Users’ card and bank details are stored securely and are not shared with the sites being paid, helping to protect the sensitive data usually required to make payments.
The only real issues with using PayPal to make online casino deposits are that it can block transactions to some operators, and other operators might not offer this payment method.
Apple Pay
Apple Pay offers many of the same benefits as PayPal and is a great option for Apple device users who can authorise payments in just a few clicks. Integrated face and touch ID services via Apple devices help to improve security, and payments can be processed quickly.
Like PayPal, the ability to use this payment method will typically depend on the operator’s accepted payment methods, but it is becoming widely accepted.
Cryptocurrencies
Cryptocurrencies are growing in popularity among consumers, and online casino acceptance is also on the rise. Crypto is an excellent option for consumers accessing offshore casinos, with borderless transactions benefiting from lower transaction fees and no exchange rates.
Crypto payments also facilitate greater anonymity, as peer-to-peer transactions are carried out without the need to divulge banking or other personal details.
While crypto is an excellent option that also improves operator transparency, transactions are irreversible, so it is essential that the user knows they can trust the recipient.
Prepaid Cards
Using prepaid options can be a good option, as the players’ funds have already been transferred to a holding account that is then used to make a payment. However, this is a more limited option with acceptance at the lower end of the scale.
Staying Secure with Online Gaming
The payment methods we use to make payments to online casinos will have some bearing on how secure transactions will be, but this is only one aspect that needs to be considered. Consumers must ensure they are using reputable platforms, and looking for those that are licensed and using HTTPS encryption is a good way to start.
Whenever possible, users should enable two-factor authentication, with additional biometric authentication also useful. Strong and unique passwords for different sites should minimize the risk of falling victim to widespread hacking attacks, while keeping an eye on statements and transactions to make sure everything is correct, which will help the user identify issues early on.
