Real Money Online Casino Guide

Let’s face it. Although casino games are fun to play, the idea of winning is the most appealing part, and you need money to make money.

The Wonderful World of Casino Accounts

Real MoneyYou would think that it would be as easy as buying a product on Amazon or paying for your Netflix subscription, but transferring money to an online casino can be more work.

You’ve got to have approval from the payment provider, and things are not always so straightforward. Additional processing time can be incurred, and it may take days before you have access to your money and can place your first bet or press spin with real cash backing it.

With all of the options out there today from cryptocurrency to e-wallets to prepaid vouchers and cards, players have more to choose from, but that doesn’t mean that the operator will accept those types of payments. Each casino, sportsbook, and poker room hosted online has a specific menu that it works from, and it outlines the methods that its customers can use (or at least attempt to use).

Quick Summary

  • Fastest deposits: Credit and Debit cards
  • Fastest withdrawals: e-Wallets
  • Lowest fees: Bitcoin
  • Easiest to approve: Bitcoin
  • Widest acceptance: Credit and Debit cards
  • Easiest to use: e-Wallets
  • No bank account required: Paysafecard, Person to Person, Bitcoin, Pay Near Me
  • Highest transaction limits: Bank Transfers

A Few Things To Keep In Mind

  1. All websites have different financial options for their players.
  2. The player’s account provider can override and lower the maximum transfer amounts.
  3. Some casinos will tack on fees for deposits as well as withdrawals.
  4. More US-servicing providers seem to assess charges for financial transactions, in both directions, more than anywhere else.
  5. Processing times are two-parts and include the approval by the cashier and then the transfer to the financial services provider, so turnaround times could take longer than you expect.
  6. If you accepted a bonus and hadn’t met the rollover obligations, your cash out request could be denied.
  7. Some credit card providers consider an online gambling transaction to be a cash advance and charge higher interest accordingly.
  8. Everything happens through the cashier including all payout requests and assistance with your betting account.

Here’s a tip: All i-Casinos should provide complete financial menus including allowable providers, turnaround times, minimum and maximum limits, and any fees that may apply. If you don’t see that info, don’t register until you receive full disclosure.

Types of Transactions

Credit and Debit Cards

Credit CardsUnless it’s a Bitcoin-only casino, you should find credit and debit cards at the top of the list, but that doesn’t mean that they’re the easiest and most straightforward method, especially if you’re a player in the United States. You’re at the mercy of the card provider, and some banks just will not approve any online gambling transactions.

Regardless, credit cards are the most popular method, and there’s speculation that, in just two years, credit card use will account for over 42% of all online gambling transactions by the year 2019, regardless of location on the globe. Even in Japan, where there is an extremely cash oriented culture, there has been a rise in credit card use to 29%, which is a high percentage considering there are so many alternative options like e-wallets and prepaid cards now.

Types of Cards

Mastercard, Maestro, Visa, and Visa Electron are most common. Some real money casinos will allow for American Express, Diners Club, or Union Pay.

Transfers to Casinos

It’s usually unnecessary to have to contact Customer Service to facilitate a credit or debit card transaction. There’s typically a form that asks for the card number, expiration and CVV number and then, clicking submit will initiate the transaction. If the request is approved, the funds should be instantly available in the player’s betting account.

Payouts from Casinos

Whereas credit and debit cards are widely used for deposits; they’re not always offered as alternatives for withdrawals. If there isn’t a card withdrawal option, you can check with customer service, but you’ll more than likely be getting a bank transfer or paper check instead of a card transfer.

Benefits

  1. Most people have at least one card.
  2. Debit and credit cards are accepted around the world.

Disadvantages

  1. Approval isn’t guaranteed even if the funds or credit is available.
  2. Not widely accepted for payouts.
  3. Banks may charge additional fees for credit card usage.

e-Wallets

Internet WalletFirst, there was Skrill, Neteller, and PayPal, and now Apple Pay and Android Pay are joining the ranks of e-wallet solutions that serve to make online transactions safer, faster, and easier. Apple and Android are not being used for casino wagers yet, but Skrill, Neteller, iDebit, ecoPayz, and PayPal have been ideal partners to the online gambling community even promoting select new player offers on their websites.

e-Wallets act as intermediaries between the payer and the payee. The account has to be set up in advance and is usually linked to a bank or card account. Rather than providing that personal banking information to everyone you’re dealing with, a password protected e-wallet solution passes the money along.

When you’re attempting to fund a real casino account and your debit and credit card aren’t fitting the bill, an e-wallet should take care of things.

Transfers to Casinos

It’s a matter of going into your e-wallet account and transferring funds to the casino you’d like to use. The whole process should take less than a minute and betting money should be available to you right away.

Payouts from Casinos

In most cases, casinos can transfer back to your e-wallet account, and you should have the funds within 24 hours pending operator approval.

Benefits

  1. Most transactions are approved.
  2. Can be funded by a bank or card account.
  3. Keeps personal banking information private.
  4. Real money available immediately.
  5. Can be used for transactions in both directions.

Disadvantages

  1. Some fees may apply.
  2. E-wallet account must be set up in advance, and final account authorization may take 48 hours.
  3. PayPal isn’t widely accepted.
  4. Neteller and Skrill may exempt player from welcome or other bonuses.

Prepaid Alternatives

Prepaid CardPrepaid cards and vouchers can make things easier for the casino, but may require a trip to the store by the player. There are vouchers like the paysafecard that can be purchased in designated increments or prepaid credit or gift cards that may also suffice. The key to prepaid cards is to ensure that they’re authorized for international and online use or they could still be declined.

Pay Near Me is a relatively new product for US players and involves paying a 7-Eleven retail location and then the store, in turn, contacts the preferred casino and makes the transfer on behalf of the player. Prepaid alternatives, in essence, are virtual cash alternatives.

Transfers to Casinos

The voucher number or card number is usually input into the payment screen, and transfers should be immediate as long as the site is set up to accept them without manual processing required.

Payouts from Casinos

More often than not, a bank transfer or a paper check will be issued for payout when a prepaid card is used to fund the account.

Benefits

  1. Cash used to load the card or voucher.
  2. Banks are totally out of the equation.

Disadvantages

  1. Even though these are cash alternatives, additional fees may still apply.
  2. Mainly used for depositing only.

Bitcoin

BitcoinThis is the method that’s still quite foreign to so many people, but Bitcoin is custom made for online gaming financing. It’s private and autonomous. Bitcoin users are not at the mercy of a traditional financial institution deciding their fate. If Bitcoin is in your wallet, you can use it as long as the site also has a Bitcoin wallet.

Transfers to Casinos

It’s a simple wallet to wallet transaction. You’ll be provided with a wallet address in the cashier area, and you just specify how much you want to move from your wallet to theirs. It should take less than 20 minutes for the funds to be received.

Payouts from Casinos

The same process in reverse and, once the transfer is initiated, you should have the BTC in your wallet within 20 minutes.

Benefits

  1. No overseeing organization is approving your transaction (or not).
  2. Personal financial information is kept private.
  3. Usually fast and fee-free.
  4. Some sites are Bitcoin only or offer special bonuses for use.

Disadvantages

  1. A Bitcoin wallet needs to be set up and funded.
  2. Not all sites allow for its use.

Money Transfers

Money TransferThere are two types of transfers that can be made for online gambling, bank transfers, and money transfers. They sound similar, but they’re very distinct.

Bank transfers are like e-checks where you authorize the transfer of a specified amount of real money to another party. Wire transfers can also be called Person to Person transactions, and are conducted from places like Western Union or Money Gram and could be classified as a prepaid option as well.

Transfers to Casinos

For either one of these, you may need to contact customer services to get the ball rolling. Bank transfers may be automated where you just provide your account information but, fees could apply, so you’ll want to verify everything. Wire transfers need to be accepted by the place you’re sending to, so manual processing may be involved.

Payouts from Casinos

Bank transfers should usually be an available withdrawal method, especially if you used it to move casino money into your player’s account. These types of transactions can take awhile for processing, though. If a casino is set up to issue money transfers and prefers using them, you shouldn’t incur additional delay but, if not, several days could be added to the equation.

Benefits

  1. Person to person transfers can facilitate cash transactions.
  2. Bank transfers are direct.

Disadvantages

  1. Some delay in processing time could occur.
  2. There could be hefty fees attached, especially using a service like Western Union or Moneygram.

Even More Options

There are some other global payment methods that you’ll find based on the region that is being serviced. These are similar to the e-wallets we described and facilitate online transfers by connecting the customer’s bank account to the payee via an intermediary.

Some favorites include:

  1. Trustly
  2. Sofort
  3. bPay
  4. mPay
  5. Qiwi Wallet
  6. iDeal
  7. Web Pay
  8. Yandex Money
  9. POLi
  10. GiroPay
  11. Eps
  12. Przelewy 24
  13. Zimpler
  14. PostePay
  15. Euteller

Banking Isn’t “One Size Fits All”

Not only do certain regions allow for different payment methods but the habits of different populations lean toward particular methods as well. For example, Russian players gravitate to e-wallets whereas UK punters will opt to use credit cards. Americans also opt for credit cards but, with the lower approval rate in the US, PayPal is the next best thing.

Frequently Asked Questions

Is there a preferred method?
Preference should be a personal decision and dependent on the player’s location and what types of services are provided. Whenever possible, opt for the fee-free methods that also provide for instant access to your real casino money. E-Wallets and Bitcoin have made things a lot easier for online gamblers, but credit and debit cards do provide fast turnaround and can help to keep overspending in check. If you’re in a hurry for your winnings, do anything you can to avoid paper checks as you could be waiting by your mailbox for weeks.
Why do some casinos take longer than others to process withdrawals?
Whereas your deposit is automated and made available upon receipt, cash outs go through an internal approval process first before any payout is initiated. The powers that be that are behind your favorite website go through your betting and financial information first to make sure nothing is amiss before they authorize any credits to your account.
What is the reason for declined credit or debit card transfers?
There could be any number of reasons. Some are personal like insufficient funds, or you typed in your card number or expiration date incorrectly. You may live in a region that blocks the use of a particular type of card for gambling purposes. Or it could be the general coding. The merchant code used for gambling may raise a red flag and banks will err on the side of caution. In some cases, contacting your card provider may do the trick, but it’s not a sure thing.
Can I use a prepaid or gift card?
As a general rule, prepaid or gift cards can be authorized as long as they’re set up for international use as well as online purchasing.
Why am I unable to cash out my casino balance?
Nine times out of ten, it means that you have some bonus funds sitting in your player’s account that need to be wagered or you neglected to meet the rollover requirement associated with free spins or bonus reward issuance. The casino cashier can look at your account in greater detail and determine the actual reason and what it will take to satisfy any obligations that stand in the way of your payout.