What are the deposit options for online gambling?

If you walk up to a real-life casino cage in Vegas, London, or Macau, there will be plenty of ways to exchange money for chips. That includes starting with hard cash in the first place. For online gambling, there’s no option to use actual bank notes or coins, and most transactions will be completed electronically. That’s the same whether you’re looking for sports betting with a sportsbook, playing casino games like slots or table games, or playing poker on a poker site.

Given that we mentioned some complex issues you might encounter with depositing and, as we’ll see, plenty of restrictions could affect you; it’ll probably be a surprise that the list of options is a pretty extensive one.

Our list of deposit methods is designed to outline the most popular options and may not be fully exhaustive, but by the end, you should have a pretty strong idea of which ones may work best for your circumstances and needs:

1. Deposit straight from a bank account using debit card bank transfers
2. Wired bank transfer
3. Physical check
4. Use a credit card
5. Using e-Wallets
6. Cryptocurrency transfers
7. Prepaid cards and vouchers
8. Mobile apps
9. Pay by phone

For a complete rundown of every type of deposit method, check out this page at CasinoBankingMethods.com. This website doesn’t just list the different options but also shows which ones are available across a range of worldwide countries and which gambling operators accept each type. A valuable resource indeed, and one that also explores the crucial aspects of withdrawals, too.

Debit card deposit from a bank account

Using a debit card is the primary deposit option that’ll be available to the widest number of depositors. You’ll be hard-pressed to find a gambling site that doesn’t accept debit card deposits from almost all end-user devices, although there might be some limitations in the type of card you can use. Standard Visa debit cards will normally be fine and you can use them from anywhere.

I’m in the UK, and I’ve never had an issue with a debit deposit, other than when making a typo during the process or the very rare occasions where I didn’t realise I didn’t have enough cash in the bank account to start with! Indeed, having an option to make a quick deposit when one of your selections is showing at lucrative odds on one of the sportsbooks is essential.

You’ll normally set up your bank account during the account registration process, although you may, of course, decide to use an alternative. Typically, whatever option you choose then becomes your primary funding source.

Setting up the bank account is pretty straightforward, though adds a little time to the initial registration process. Follow-on deposits typically take less than a minute.

For any country that has regulated and legal gambling laws in place, using a debiting option will be the simplest and most straightforward option you can use.

Wire Transfer/Bank Transfer

In a similar way to using a debit card, the option of bank wire transfer will be moving cash you already own from your own bank to an online gambling account.

Most online gambling sites will offer wire transfers as an option. It’s particularly viable for transferring cash in specific circumstances. For instance, you may want to transfer a significant sum to play high roller games where a well-funded online account is likely to be needed. Equally, someone that just can’t or prefers not to work with cards might prefer it.

The biggest issue with transferring by wire is its speed. It’s always going to be slower than most other methods. That’s because the process is more complex overall, requiring some knowledge of the receiving bank account details and also likely to involve processing delays.

Money transfer services

Probably the least used of all deposit methods nowadays, this option of using a money transfer solution like the one offered by Western Union can still be viable. As we’ll see, the much-preferred way to transfer now is likely to be via an ewallet like Paypal.

Sending a check

It’s hard to believe that people still use checks (or cheques, as we’d say in the UK). Indeed, I’m unsure of what the reasons might be for anyone to use them still. But they have been a traditional deposit option and still show in most gambling sites’ lists as a usable method of making a deposit.

If you do still have access to paper checks, using them as a way of funding an account is as straightforward as you’d expect. Just mail it into the specified address, and wait. Once processed, the money will appear in your account balance.

Deposit using a credit card

As with debit cards above, using a credit card typically results in an instantaneous transfer. You may find that cards like American Express or Diners Club won’t always be accepted for online payments, however, the widely-used Mastercard or Visa credit cards are unlikely to present any problems. Where American Express is accepted, it’s a good choice with very few limitations around minimum or maximum deposits, but you’ll need to watch for any transaction fees. 

In the US, you could find that some card providers may block transactions even though you’re making a legitimate and legal transfer request.

In the UK, the use of credit cards for gambling deposits was banned some time ago. So, for any UK sites regulated by the UK Gambling Commission, bettors won’t be able to make a credit card deposit. You may find it’s allowed at sites that operate outside of the regulated environment, but then you run into other risks around safety and security.

For the rest of the world, rules around depositing with a credit card will vary.

It’s not hard to see why there are some restrictions. Using credit to gamble is risky. We know that many forms of gambling result in losses for the bettor or gambler concerned. And for a problem gambler, there are some obvious risks in allowing access to gambling money that isn’t theirs to spend in the first place. Read the responsible gambling page before you undertake any form of gambling, especially if you’re considering using credit to do it.

Depositing with E-Wallets

Probably one of the most widely-used ways of depositing, e-wallets are very similar to a standard bank account. Once you’ve got cash into an e-wallet, one of its main features is it becomes a mini bank account that you can then use to transfer, make purchases, or even receive money. With any of that cash, it’s easy to transfer to your bank account or transfer the other way.

In a gambling account, the ease of transferring cash funds via an ewallet is on par with a debit card transfer. Certainly, it’s just as fast and easy as a debit option once you initially set up the wallet.

There are plenty to choose from with three, in particular, that most people will already know:

• PayPal
• EcoPayz
• Neteller
• Skrill (formerly known as Moneybookers)

In the US, neither Neteller or Skrill can be used for gambling transactions. Online gamblers using Paypal are in a better position, with that option being OK in states where fully licensed and regulated online gambling sites provide services. That said, Paypal’s own published rules around gambling-related deposits seem to indicate there still might be some debate around its allowed use.

Elsewhere in the world, it’ll be rare for any listed ewallets to have any major restrictions. Certainly in the UK I regularly use Paypal to deposit to an account at Bet365, particularly when I want to take advantage of one of their valuable promotions.

Cryptocurrency deposits

If there’s one area of online gambling that’s growing at an astonishing rate, it’s crypto gambling. As the number of coins has been growing and early adopters have been making fortunes through the value increases, the use of cryptocurrencies has grown exponentially.

There are some hugely valuable attributes of crypto that we should mention, namely its anonymity and security. Both of these have served to fuel the use of crypto for gambling deposits still further.

However, it’s still a complex area. There are many types of crypto coins, and many operators will handle more than just those that are best-known – Bitcoin, Ethereum, Bitcoin Cash, Monero, Tether, Ripple, and Litecoin.

The complexity is not just limited to the coins. If you’re using cryptocurrencies, you’ll be entering a world of soft and hard wallets, private keys, addresses, and exchanges. You’ll want to read a good guide on depositing crypto to ensure you get your head around all of those elements and avoid any costly mistakes.

Get it right, though, and depositing with crypto has benefits outside of those obvious ones around anonymity and security. Many online casinos and poker operators have been specifically created or have begun solely using digital currencies for all transactions. Some benefits can only apply to these operators, and we cover these on our bitcoin gambling page.

For those operators offering a mixture of traditional and digital currency deposit methods, there are some other benefits around gambling bonuses. Namely, some operators offer increased value bonuses for deposits made with a digital coin.

There’s one other aspect of using Crypto for your transfers we should mentions, and that lies in with the speed factor. Anyone playing games in the hope of an instant cash win will need fast payout methods to get their money quickly. Cryptocurrencies vie with Paypal and ewallets as the fastest ways to get payouts from online gambling wins.

Pre-paid cards and vouchers

Many firms other than banks supply a form of debit cards to customers. Sometimes these cards can be loaded with cash that can then be used for online transfers.

Similarly, you can buy pre-paid vouchers that also might be used for cash transfers.

Whether you can use either of these for a gambling deposit rest on the operators. You’d need to seek out details on which operators will handle them before you make the attempt. A good example that falls into this bracket is Paysafecard. Others include Flexepin or AstroPay.

All in all, using a prepaid card option can be an appealing solution.

Mobile apps

Many banks and ewallets such as Paypal have mobile apps you can use in a similar way you would from a laptop or desktop PC. So, it won’t be a surprise that with the continually growing use of mobile phones for pretty much everything, many players will make their deposits via an app they’ve installed on their phone.

But outside of the obvious examples, there are a handful or more of payment processors that have focused on the mobile app market and have eminently usable solutions for making gambling-related transactions.

One great example is the MuchBetter app. MuchBetter states on their website: “MuchBetter is a revolutionary award-winning e-wallet. Our industry-leading e-wallet lets you store, send and move money securely and quickly.” That sounds like a great solution for gambling deposits, right! 

Other notable mobile app solutions include one or two well-known names and a couple you may not immediately recognize. The first in this concluding list of deposit methods and providers will be instantly recognizable by anyone that plays on mobile apps that offer ways to win money playing games. 

Google Pay
Anyone that uses an Android phone will know of Google Pay. And you can use Google Pay to make gambling payments just the same as you use it for many other forms of payment. The best way to use it is to download the app from the Google app store.

Pay is great for instant deposits, and there are no fees involved with transactions. This solution works by linking your bank account inside the app.  

Apple Pay
Apple Pay is another example of a money transfer app that works exceptionally well. As an iPhone user, you’ll have the perfect payment solution at your fingertips, with transactions completed via your phone instantly.

Revolut
For a solution that gets around the problem of currency exchange fees, Revolut has made a name for itself and is rapidly becoming a standard option in any gambling site’s list of deposit options.

Klarna
Although it’s a name that might be unfamiliar to many gamblers, Klarna has built a reputation as one of the leading global operators in the payment processing industry. Indeed, hundreds of thousands of customers worldwide now use its secure credit and debit card payment services. 

Pay by phone

In addition to using apps on your phone, you can also use your device in combination with your mobile network provider to make payments. The process means any payment made this way gets added to your phone bill, and you’ll be settling up at the end of the next billing period. Three big names to remember here are Boku, Zimpler, and Payforit.

How do you deposit money for online gambling?

Now we appreciate the range of deposit options and know that some will or won’t be available in some countries, we can look at the actual process of depositing. Clearly, this process will be easier to navigate if you’re starting from a point where you already know which method will work best for your own circumstances.

So, let’s assume you have a payment method in mind and walk through the steps. Note that some gambling sites may vary slightly in how they present the options and, sometimes, the terminology used:

1. Determine which gambling site you’ll be using.
2. Register an account.
3. Locate the cashier page – the equivalent of a casino cage in a land-based casino. This page will normally be reachable via a ‘deposit’ link or button, or via your account profile page.
4. Select the deposit option or banking method required.
5. Follow any instructions to fill out the required information.
6. Finalize the transaction by hitting the ‘confirm’ button.
7. Choose your game and start playing.

What are the notable drawbacks of using any of the primary deposit methods?

Aside from the fact that some methods will only be available to players in certain, it’s worth noting that there are notable limitations for some of the deposit methods:

e-wallet limitations

Paypal, Skrill, and Neteller are convenient and easy to use. There are no obvious drawbacks involved with using Paypal but, although both Neteller and Skrill can be used to deposit, you won’t be able to redeem any bonuses offered if you do.

The reason for this restriction is that players realised in the past that they could create multiple accounts on these wallets, allowing them to create multiple casino accounts and collect multiple bonuses. This creation of accounts just to trick the casinos and get extra bonuses was classified as bonus abuse, and ultimately both Skrill and Neteller had to impose rules to stop it.

Even where a gambling operator could spot someone using multiple accounts, they’ll still often ban the use of some wallets. This restriction is particularly evident in the UK, where the powerful regulatory body known as the UK Gambling Commission (UKGC) has stringent rules in place to prevent money laundering or other forms of fraud. This leads to a situation where some operators may just be working in a protective mode even just to avoid potential problems.

Cryptocurrency deposit limitations

There’s plenty to like about using crypto for gambling deposits but there are one or two potential negatives.

The main issue is in exchange rates, although this can also work as a positive. With any transaction, there is a risk that whichever Crypto coin is used could experience a severe fluctuation in its value. You can see how this could result in a positive or negative result for your account balance.