When you’re gambling online, you want the banking process to be quick, easy, and accessible, right? Anything that makes depositing difficult is an impediment to your actual gambling experience, which is why it’s important to choose a casino payment method that works for you!
There are dozens of different ways to deposit at online casinos, many of which you’re probably familiar with. All of these different banking methods have distinct advantages and disadvantages. Some are faster than others, like eWallets, while others provide some level of anonymity, like cryptocurrency.
At the end of the day, you want your online casino payment methods to be something that you’re already using, and something you can easily use multiple times.
We’ll break down all the different banking methods for online gambling sites, help you choose the one best fit for your needs, and even compare it with the other options!
Some of the best online casino payment methods are ones that you’ve already been using in your everyday life. Your bank card? PayPal and Venmo? You can use those for online gambling!
But, the list doesn’t stop there. We’ll take a look at the following banking methods, giving you a run-down of how each method works:
- Credit/debit cards
- Conventional Methods
Before we get into the nitty-gritty, let’s talk about how we gauge each banking method. Sure, they will all accomplish the same end goal—depositing and withdrawing your casino funds. But, they all operated on different levels of safety and speed, and we like to examine them each to better understand how they work.
Our criteria include:
Safety – In today’s world, most online banking methods have a similar level of safety. Credit/debit cards have fraud protection, and you can set transaction limits on your bank account. Crypto, however, is a different level of safety, with secure wallets unregulated by third-party companies. We like to look for methods that have both innate safety—meaning they have built in safety features—and user protection, like refunds for unsanctioned payments.
Speed – At most casinos, your deposits are instant no matter whether you use Visa or Bitcoin. But, the real measure of a strong banking method is how fast you can receive your withdrawal. Crypto varies depending on the volume of transactions on the blockchain, but you can expect funds in your account within hours. Other banking methods have similar timeframes, but conventional methods like checks via courier or bank wire will take much longer.
Fees – The most unfortunate part about of the examination process is looking at fees. Some banking methods, credit and debit cards in particular, are subject to extra transaction fees. These fees vary from casino to casino, but they can be anywhere between 3% to 15% of your transaction! You obviously want a method that has comparable levels of speed and security, but with low-to-no fees.
Acceptability – The final question should be “Is this banking method widely accepted?” If the casino payment method is accepted at other gambling sites and online businesses (or even physical businesses, like your local grocery store), that’s a pretty good indicator that it’s a high-quality method. Plus, you want to be able to use your gambling winnings for things other than gambling, so being accepted at many establishments is a must for your primary banking method.
At the end of the day, the best online casino banking methods are those that secure your information, operate faster than other banking methods, have low fees, and are widely accepted by other businesses. It’s a pretty simple ask, right? Well, it’s easy to get overwhelmed by the sheer number of banking methods out there, so here’s a comprehensive list of the most popular online casino payment methods.
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Pretty much everyone has a debit card of some kind, whether it came from their bank or credit union. Credit cards, too, are widely popular, and have been one of the primary methods for depositing at online casinos for many years. These methods are good because they are easily accessible and provide a layer of safety for most players.
You can activate fraud protection on almost all credit/debit cards, which protects you in the event your information is ever compromised. Plus, it’s fairly simple to get replacement cards should you lose yours or need to change your card number.
However, there are a few features of these bank cards that make them less desirable for online gambling. First and foremost, it’s the fees. Most, but not all, online casinos will charge a fee for using a credit/debit card. This fee is unavoidable in most instances, though some sites will waive the fee for your first deposit. This fee is taken by the casino, not by your banking institution, so the casino can set the rate. We’ve seen it as high as 15% before.
Plus, some banking institutions will freeze your account after depositing to online casinos because it’s part of their online protection system. American Express cards are notorious for this kind of activity.
Visa cards are the most widely used credit and debit card type in the world, making them ideal for online gambling. They offer superior account protection measures, and have quick transaction speeds. All deposits at online casinos are instant, while withdrawals process faster than other card types, it might still take up to 5 days to receive your winnings. Fees with Visa cards are minimal, though that varies depending on the gambling site.
As a close runner-up to Visa, Mastercard services thousands of banks and financial institutions across the globe, and there’s a high chance you have one in your wallet. They process payments quickly, though they are known for having higher transaction fees than Visa. This depends on the casino, mostly, but it’s usually around a 5% service fee. However, Mastercard is known for its strict adherence to PCI-DSS rules for card security.
American Express credit cards are very common in the United States, but abroad too. One of the important things to note about AMEX cards is that they have a strict fraud system. So even though an online gambling site might accept AMEX, your card might still be declined and flagged. For this reason, AMEX is less popular for online gambling than Visa or Mastercard.
Discover cards are another common credit card in the United States, but at a much lower volume than AMEX. Discover is a pretty reliable option for online gambling, especially with their quick and easy account freeze feature. Not many online casinos accept Discover card transactions, but there are a few that do.
Overall, credit/debit cards are a good option for the first-time gambler, but they become less ideal if you’re planning on using them for many deposits at gambling sites. Prepaid cards, however, are much more suited for online gambling because of their disposable nature.
Prepaid Gift Cards
Where credit and debit cards are connected back to a larger account—your checking account or your line of credit—prepaid gift cards are not. This makes them much more secure when you’re using them for online gambling, because you don’t run the risk of having your bank account drained should the info be stolen.
Plus, it’s helpful for people on a budget. You can load only as much as you’re willing to spend onto the gift card, which prevents overspending.
These kinds of cards are easy to come by (you can get them from most stores) and you can load money online through the provider’s secure website. Visa is a popular gift card type, but you can also choose from Vanilla, Paysafecard, Entropay, or prepaid cards through other providers like Neteller, Skrill, or Flexepin.
Prepaid cards are convenient from a safety and accessibility standpoint, but they are rarely accepted as withdrawal methods at online casinos, and still come with the fees common with credit/debit cards.
Online casinos that support this deposit method use a third party service to sell you a voucher. You pay the third party service with a credit card or pre-paid debit card. The voucher you purchase is assigned a unique identification number you then use to activate the voucher with the casino. Each voucher can only be used once. The casino requires you to verify your identity the first time you use the voucher deposit system.
Pre-paid vouchers are a great choice for making deposits because they have no overdraft or credit option. The voucher funds your casino account for only a specific amount and if you need more money you must purchase another voucher.
One of the largest casino payment methods is cryptocurrency, for many reasons. Not only are there more than a dozen different cryptos you can use at online casinos, it’s probably the most highly-promoted method by gambling sites. Just using Bitcoin can often net you larger welcome bonuses, higher deposit limits, and better customer service.
Why is crypto so popular for online gambling? Well, crypto is a decentralized currency, meaning there isn’t a banking institution or a card provider charging fees behind the scenes or monitoring your account activity.
This is good for both you as a player and the casino. You get to have faster withdrawals with more anonymity, while the casino gets to process payments quickly, with very low fees, and they can collect valuable assets that may rise in price.
Sounds nice, doesn’t it? Crypto deposits are accepted at almost every casino we’ve reviewed, making it the most wide-spread banking method on our list.
However, crypto isn’t for everyone. The process of obtaining crypto is somewhat lengthy, and requires more effort on your end. You need a crypto exchange, crypto wallet (maybe a hot and cold wallet), and you have to frequently monitor your accounts.
And because there’s no central governing body—all transactions are approved through the community and recorded in public ledgers—if your crypto wallet information falls into the wrong hands, there’s no fraud protection. Your assets are just gone. This makes crypto a bit riskier than other methods, but if you’re following the right safety practices, there’s no reason to be scared.
By market cap, Bitcoin is the largest cryptocurrency in the world. It was the first crypto to go online, and many other cryptos are built on Bitcoin’s blockchain. BTC runs on a Proof-of-Work protocol, which requires miners to verify transactions on the network, being rewarded with fractional parts of Bitcoin. Proof-of-Work is a somewhat outdated process, meaning that Bitcoin transactions might take up to 24 hours to clear.
Ethereum is the second largest crypto on the market, and is accepted at most online casinos. Ethereum works on its own network, separate from Bitcoin, and uses a Proof-of-Stake protocol, which decreases energy consumption for transactions. From an environmental standpoint, ETH is better than Bitcoin because it burns less energy per transaction. ETH is also the primary network for NFTs, which makes your ETH more versatile.
Litecoin is the earliest altcoin, having launched in 2011. It took heavy inspiration from Bitcoin, and operates on a similar network. Litecoin is a popular choice for online gamblers because it has fast transaction times with low fees. While its predecessor BTC takes up to 24hrs per transaction, Litecoin usually takes around 1 hour to transfer to and from gambling sites.
BitcoinCash is a derivative of Bitcoin that came to be in 2017. Its allure is a much faster transaction time, decreasing Bitcoin’s 24hr timeframe down to 1 hour or less. BitcoinCash also manages to reduce fees to mere cents on the dollar, making it much more efficient for online gambling applications.
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Altcoins are those “alternative coins” that aren’t one of the big cryptos like Bitcoin or Ethereum. Most altcoins still operate on the BTC or ETH blockchain, and typically come with much smaller price tags per unit. Altcoins are a bit riskier because their price often fluctuates drastically since they are newer coins.
People who get in on an altcoin early might amass a lot of wealth, but it’s often a gamble on whether or not the coin will last a long time.
However, many online casinos accept some of the big altcoins, including:
- Ripple (XRP)
Unlike altcoins, stablecoins are much more, well, stable. Instead of volatile prices determined by blockchain factors or market demand, stablecoins are backed by a fiat currency. For example, both USD Coin and USDT (Tether) are based on the US dollar. Their value doesn’t waver much from the $1 mark, making them a much more reliable method for depositing at online gambling sites. Your wallet will contain the same amount as when you filled it, unlike ETH or BTC, which change daily.
EWallets, or electronic wallets, are a big industry. PayPal was probably one of the first online banking solutions that brought eWallets into the limelight, but there have been plenty of others since then that have gained traction.
For online gamblers, eWallets are a great option. The wallet acts as an intermediary between the gambling site and your bank account. Similar to the prepaid gift card, you can load as much money as you’d like onto your eWallet, and once you’ve spent that, you’ll have to move more money into the wallet. This feature provides an extra layer of security and helps you set a limit on your spending.
Plus, eWallets have similar kinds of fraud protection and claim disputes as credit/debit cards, but with the added protection of being a middleman.
EWallets are generally faster than credit/debit card withdrawals, and impose less fees as well. You might experience anywhere from a 1-5% fee to transfer money back into your bank account with some eWallets, but generally there’s also a free option that takes a bit longer.
Skrill used to be known as Moneybookers, and is the eWallet of choice for anyone looking to make international transfers. Skrill is available in over 40 countries, and offers a number of services, such as prepaid Skrill Mastercards, free international bank transfers, 1% fees on international debit card transfers, and 2% fees on domestic transfers. Plus, you can receive money into your Skrill account for free, making it ideal for withdrawing your gambling winnings.
PayPal has been around for 20+ years, but came to fame with their eWallet feature, which lets users seamlessly move money back and forth from their bank account and bank cards. If you’ve ever shopped online, chances are you’ve seen a PayPal checkout feature. Unfortunately, PayPal isn’t as common for online casinos because of their strict adherence to safety standards. Gambling Sites must meet PayPal’s safety standards to be able to use their platform, which means when you do see a site with PayPal compatibility, it’s probably a good one.
Almost as old as PayPal, Neteller is another industry giant. Their platform is widely accepted at online casinos and they’re known for having low fees on account deposits. You can load your Neteller account with more than two dozen financial options for a 2.5% fee or less. You can withdraw directly to your bank account, credit/debit account, or Skrill account. Neteller has also branched out to allow users to purchase and transfer crypto on their platform, making it a one-stop-shop for a lot of online gamblers.
Like Skrill and Neteller, ecoPayz has a wide range of financial tools available for their users. The ecoPayz wallet is just one of their casino payment methods, they also have prepaid Mastercards and connectivity with Interac and other services. EcoPays is primarily a European financial tool, but it is used in more than 160 countries and supports 50+ currencies. Depending on your ecoPayz account tier, you can receive lower fees for transfers to your bank or credit card.
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MatchPay is quickly gaining a foothold at online gambling sites because of its easy-to-use platform and simple integration. Before MatchPay, players were unable to deposit at online casinos using wallets like Venmo or CashApp, but MatchPay facilitates the transaction between the casino and the player.
While we’ve only listed some of the widely-accepted eWallets above, there are plenty more that are accepted at online gambling sites:
|Alternative eWallets and Digital Payment Methods|
|Find AstroPay Casinos||Find Boku Casinos|
|Find Click2Pay Casinos||Find Ukash Casinos|
|Find Entropay Casinos||Find Klarna Casinos|
|Find Trustly Casinos||Find iDebit Casinos|
|Find CIMB Casinos||Find Neosurf Casinos|
Formerly branding its service as Click2Pay, WireCard offers merchants and consumers multiple options for handling payments online and offline.
You purchase virtual Mastercard and Visa debit cards through Entropay. Creating an account is free and consumers can easily convert their cash balances to multiple currencies. Entropay cards are funded by bank transfer, debit card, or credit card.
Players from the Netherlands can use the iDeal payment processing service. The company works with Dutch banks to handle international payments for their customers. Merchants must advertise that they accept iDeal.
Giropay is a German payment processing service that links merchants to customers’ German bank accounts much like iDeal does for players in the Netherlands. Consumers enter their payment information themselves through their bank account websites, to which they are directed by the merchants.
POLIpayments is an Australian online payment processor that merchants work with to connect customers to their bank accounts.
Players based in Singapore use eNETS to connect to their bank accounts safely and securely when making online purchases. Merchants may also accept international credit cards through the eNETS Credit system.
If you’re not going to use a credit/debit card, eWallet, or cryptocurrency to deposit at an online casino, what options do you have left? Well, before the rise in technology, people used to deposit at online casinos and poker sites using bank wires, phone transfers, or checks sent through the mail.
This is the point where we have to tell you that these methods aren’t nearly as good as all their digital counterparts, simply because they take so long.
Sending funds to an online casino via bank wire transfer is a long affair, sometimes taking up to two weeks! Alternatively, you can use an echeck to make deposits and withdrawals, but it requires some online activity and is also subject to long wait times.
Plus, methods like bank wires and checks via courier will often be structured with immovable minimum/maximum limits and fees. Most of our recommended casinos allow withdrawals via bank transfer or check, but for each instance you’re paying between $50 and $75 per withdrawal! That amount adds up quickly.
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No matter what your deposit method is, there are a few steps to take before you can start gambling at an online casino.
Step 1: First, navigate to your online casino of choice and start the registration process. You’ll have to provide your full name, email address, physical address, phone number, and date of birth.
Step 2: To complete your online casino account, you often have to confirm your account via email or with an SMS code sent to your phone. Most casinos won’t let you deposit unless you’ve completed this step.
Step 3: Once your account is created, head to the cashier or banking page and choose your deposit method. Choosing a method is largely dependent on what you already use, what the limits are, and any specific bonuses. Make sure you claim a welcome bonus before you deposit, because new player packages are only valid on your initial deposit.
Step 4: Depending on your banking method, you’ll have to go through some additional steps. For example, if you’re using a credit card, simply input your card numbers. But if you’re using crypto, you’ll have to use the casino’s wallet address to send your crypto to your casino account.
Step 5: Once your funds have been processed, you can play it up! Spend your bankroll on slots, blackjack, poker, or keno.
Step 6: When you’re ready to withdraw, head over to the cashier and pick your withdrawal method. If this is your first time processing a withdrawal, you will have to provide additional info to comply with Know Your Customer standards. This will include a copy of your government-issued photo ID and proof of address. This extra verification step may take up to 72 hours, so many people submit this info upon signing up to get the ball rolling.
While you’re gambling online, there are a few things you should be thinking about to improve your experience and keep your banking information safe. Here are some quick tips about banking at online casinos safely:
- Only use sites that use TLS-encryption to protect their payment methods. SSL is powerful encryption that has become the industry standard for gambling sites.
- Never share your banking credentials with support representatives over live chat or email. You should only use the cashier platform to make deposits and withdrawals. Providing your details over an unsanctioned line might result in your information being used without your consent.
- When possible, avoid using your primary checking account card for gambling deposits and withdrawals. While providers like Visa and Mastercard are good about fraud protection, you don’t want to put yourself in a scenario where you’re left without your daily operating funds. Use a prepaid gift card if you seriously want to use a card.
- When using crypto, keep your immediate funds in a hot wallet, while your other assets/investments are in a cold wallet. This will ensure that if one wallet is compromised, you don’t lose all your crypto holdings.
- Pay attention to player reviews for online casinos. Some people have experienced issues with certain payment methods, so it’s always a good idea to be wary. If others have had issues, you might as well.
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If you’re new to financial betting, these are all important things that should be on your checklist. Below, we’ll discuss each one of these important criteria in detail so that you’ll know what to be on the lookout for.
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One of the most important things to locate when it comes to financial betting sites is one that offers top notch customer service. No matter how good a site might seem at first, you’re playing with fire if you end up on a site that doesn’t offer you quality customer service. While we hope you’ll never need to use it, quality customer service is good insurance for when you have an issue or question that you need assistance with.
Look for a site that offers you multiple contact methods to reach their team. The more ways that you can contact a site, the better. We always suggest that you test drive a site’s customer service yourself. It’s as simple as calling in, sending an email, or starting a live chat on the site. Pay attention to how fast they help you and how good their assistance is.
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One thing that you should know if you’re new to betting online is that online sportsbooks and financial betting sites often offer some pretty solid bonuses and promotions. These bonuses and promotions can be a great way for you to earn some extra cash in your account. Often, you’ll find some great welcome deposit bonus matches on financial betting sites that are only for new clients. These bonuses and promotions can often amount to thousands of dollars in free cash if you take advantage of them.
Our suggestion is for you to shop around and find a trusted financial betting site that offers you the best bonuses and promotions that fit your needs. Unfortunately, bonuses and promotions are not all created equal, and vary at different financial betting sites. It’s up to you to do your homework and find a site that works for you. If you’re not sure where to start, be sure to check out our list of most trusted financial betting sites at the top of the page to find some great sites with killer bonuses and promotions.
If you’re used to wagering on sports by using online sportsbooks, you’re probably used to shopping around for the best odds. We suggest that you do the same when it comes to financial betting sites. While we often find that most financial betting sites are in line with one another, sometimes you find a site that offers better odds on the same type of wager than you’ll find anywhere else. By checking a couple of different financial betting sites before placing your wager, you might be able to come out ahead with more cash in your pocket if your wager wins.
Something else to consider while you’re searching for your financial betting site home is their variety of financial betting options. We’re huge fans of sites that offer a large variety of options, since it gives clients the room to grow. Even if you’re only doing a certain type of financial betting now, it doesn’t mean that you won’t want to expand into other areas in the future.
If you limit yourself to a financial betting site with limited options, there is the potential that you would outgrow it at some point. While this isn’t the end of the world, we’re all about efficiency here and we’d rather you find a good long-term home for your financial betting needs. Your goal should be to find a site that offers you as many financial betting options as possible.
In order to place real-money bets, you’ll need to be able to get funds onto a financial betting site. What’s important is that you find a financial betting site that offers you banking options that fit your needs. You’ll find that banking options vary greatly between sites, so it is up to you to locate one that offers your preferred methods of banking.
Our suggestion is to locate a financial betting site that offers a wide variety of banking options for deposits and withdrawals. We don’t suggest sites with very limited options unless the limited option is your go-to banking preference. For example, some betting sites only deal with Bitcoin for their banking. But at the end of the day, a site with more options gives you greater flexibility.
The last important criteria that we suggest you search for when it comes to a financial betting site is their user interface. As you shop around for a potential financial betting site home, you’ll find that each one will operate differently. Often functionality such as how you sort, search, and have your odds displayed will be different from site to site.
Your goal should be to locate a financial betting site that has a user interface that allows you to quickly move about the site and find what you’re looking for. When it comes to user interface, the old saying, “different strokes for different folks,” is very true. Therefore, a site that your friend likes might not be the best fit for you. The best way to test out a site’s user interface is simply to poke around on the site and see how it feels to you.
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Financial betting gives you the opportunity to place wagers on the movement of financial assets, markets, and instruments. What’s great about financial betting is that you’re not actually buying the asset itself. Instead, you’re simply placing a bet relating to if that asset will move up or down during some set period of time.
On a financial betting site, you’ll find three different main types of wagers that you can place. You can choose from fixed odds, binary options, or spread betting. We’ll cover each of these bet types in more detail below so that you can determine which one might be the best fit for you.
If you’re a newcomer to financial betting, fixed odds are a great place for you to get started. What’s nice about fixed odds financial bets is that they are rather easy to understand, and they have a lower risk than the other two options. If you’re into sports betting, fixed odds financial betting will come very naturally to you, as they function very similarly.
For a fixed odds wager, you’ll be placing a bet on if a financial asset will reach a certain preset price within a set amount of time. For example, you could place a wager on what price crude oil will move to within the next 2 hours. The financial betting site will show you a list of price options to choose from. The more likely that a price is, the lower your potential payout will be, and vice versa.
If you’d like to take things up a notch from fixed odds bets, you can consider trying out binary options. With a binary option, you’ll be deciding if a financial asset or instrument will be moving up or down in value during a set time period. The big difference between binary options and fixed odds is that you don’t have to pick an exact value for a binary option. In total, there are six main types of binary options to choose from. We’ve detailed each one of these below so that you can determine which ones might be a good fit for you.
The most popular type of binary options on financial betting sites is digital options. For a digital option, you’ll be deciding if a price for some form of financial asset will move up or down by the time that the wager expires. As an example, you might place a wager that you think Microsoft’s stock will move up in value by the end of trading on that particular day.
If you choose correctly, you’ll win your wager. It’s as simple as that!
What’s nice about digital options is that you don’t have to be overly savvy to get in on the action. Instead of having to buy a stock and hold it in the hopes that it goes up over time, you can act and see returns much faster if you’re able to pick correctly. On financial betting sites, you’ll be able to place digital options on a wide variety of financial instruments. We’ll cover things that you can bet on in more detail in the next section.
Another type of bet that you can place on a financial betting site is a touch option. A touch option is more specific than a digital option. When it comes to touch options, you must determine if the financial asset will reach (touch) a certain high or low price before the bet expires. For example, you could place a wager that says you expect Bitcoin’s price to reach $6,500 or $6,200 before the end of the day. If Bitcoin at some point reaches $6,500 or $6,200 during your wager period, you’ll win your bet.
It’s worth pointing out that your asset doesn’t have to end at the touch value when your bet expires. As long as the asset reaches the high- or low-end touch values before the bet expires, you’re in the money. While touch options are a bit more complicated than digital options, they are another great way for you to participate in the action on financial betting sites.
Range options are another type of binary option that you can place on a financial betting site. When it comes to range options, you’ll place a wager relating to if a financial asset or instrument will expire within a preset range or not. For example, you could place a wager that you think the Dow Jones Industrial Average will end somewhere between 23,500 and 23,700.
If the Dow Jones Industrial Average is within that range when your bet expires, you’ll collect your winnings!
Range options are definitely a bit more complex than both digital and touch options. Because your asset will need to end up within a certain range, you’ll want to have a good understanding of the financial asset or instrument that you’re betting on.
If you’re looking for faster-moving action, turbo options might be a good option for you to consider. Turbo options are very similar to digital options in that you’ll be betting on if a price will move up or down during a set time period. The main difference between digital options and turbo options is that turbo options happen very quickly over short periods of time.
Typically, when it comes to a turbo option, you’ll be deciding if the value of the assets will move up or down over the next five minutes. What’s nice about turbo options is that you get results fast. Instead of having to wait days or hours as you do for a digital bet, you can have your answer within 5 minutes. Consider trying out turbo options if you enjoy digital options and are looking for a little bit more excitement.
A one-touch option is a variant of a traditional touch option. The main difference is that with a one-touch option, there is only one touch price, as opposed to a traditional touch option that offers two touch prices. For example, you could place a wager that gold will reach $1,300 an ounce at some point during your bet period. As long as the value of the gold touches $1,300 at some point, you’ll win.
Remember, the value of gold does not have to be at or above $1,300 when the bet ends!
Since there is only one price with a one-touch option as opposed to the two from a touch option, these wagers can be a bit harder. The nice thing about a touch option is that you have some flexibility if the asset moves up or down. One-touch options are riskier because you’ll only have one touch price that has to be reached in order for you to win your bet.
If turbo options are too slow for you, then perhaps five-tick options might be more your speed. For a five-ticks option, you’ll be betting on if an asset will move up or down in value in just five ticks. If you’re unfamiliar, a tick is a move in the price of a financial asset. In some cases, an asset can move several ticks within a matter of seconds.
As an example, you could place a wager that you think Amazon’s stock price will move up over the next five ticks. In most cases, your bet will be expired within a matter of seconds. For most financial assets, five ticks don’t last long, so make sure that you’re ready for things to move fast if you decide to bet using five-ticks options on a financial betting site.
Spread betting is the riskiest type of financial betting out there. In spread betting, you’ll not only be deciding which direction the financial asset will be moving in, but you’ll also have to determine how much it will move. Due to this added layer of complexity, spread betting involves more risk, but also offers higher payouts if you get it right. For example, you could place a spread bet that the NASDAQ Composite Index will move up to a value of $7,000 at some point in the future.
Due to the added complexity of spread betting, we do not recommend this type of wager for folks that are newer to financial betting.
What Can I Bet On?
Typically, you’ll have four main options for financial instruments that you can bet on using a financial betting site. Those four options are currencies, indices, stocks, and commodities. Below, we’ll discuss each one of these financial instruments in more detail so that you can learn which ones might be a good fit for you.
One of the most popular financial instruments to bet on is currencies. When you wager on currencies on a financial betting site, you’re actually betting on currency movements. Often, you’ll be deciding if one currency will decrease or increase in price relative to another currency. For example, you might place a wager that the USD will increase in value relative to the EUR.
What’s nice about financial betting sites is that you’ll find a nice variety of major currencies offered. You can place wagers involving currencies such as the GBP, EUR, USD, and JPY. In some cases, you’ll also find options that include some of the cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Most financial betting sites make it very easy to place bets on currency movement, and these types of bets can be a great starting point if you’re new to betting on financial instruments.
Another option when it comes to betting on financial instruments is to bet on the movement of major stock indices. A stock index is a way to measure the value on a portion of the stock market. It essentially creates a hypothetical portfolio with the goal of representing a large market or sector as a whole. The odds are that you’ve heard of major stock indices including the Dow Jones Industrial Average or the Standard & Poor’s 500.
On a financial betting site, you’ll be able to place a wager relating to the movement of that index. For example, you might place a wager stating that the Standard and Poor’s 500 will move up from its current price. If you pick right, you’ll win your wager, and of course, if you pick wrong, you’ll lose your bet. You’ll find all major stock indices available for wagers on financial betting sites, so you’ll have plenty of betting options to choose from.
Similar to a stock index, you can also bet on the movements of individual stocks themselves on a financial betting site. Instead of betting on an entire index of stocks, you can make wagers relating to how stocks will perform on any given day. As an example, you could place a wager if you think the value of Volkswagen’s stock would move up or down that day. In order to win your bet, you’d just need to pick the correct one. What’s nice is that you don’t have to know specifically how high up or down the stock is going to go. You just need to guess if it will move up or down.
It’s worth pointing out that when you bet on a stock by using a financial betting site, you don’t actually buy the stock. Unlike traditional company stock investing, you’re just placing a bet on the movement of the stock, as opposed to buying and holding shares of the stock. This is an important distinction to make, as most people are used to the traditional fashion of buying a stock and holding it for some set period of time.
The final type of financial instrument that you can wager on is commodities. Commodities are raw materials or agricultural products that can be bought and sold. Samples of commodities include items such as coffee, gold, and sugar. Similar to an individual company stock, commodities themselves see their value fluctuate on a daily basis depending on supply and demand.
On a financial betting site, you can place wagers on commodities. Like the other financial instruments mentioned above, you’ll be selecting how the value of your chosen commodity will perform that day. For example, you might decide that you think the value of copper will decrease that day. If you place that wager and copper’s value does decline that day, you’ll win your wager.
As you can see, there is a pretty good variety of financial instruments that you can bet on by using a financial betting site. What’s nice about the variety of options is that it allows you the chance to diversify your bets across many different types of assets so that you don’t have all of your eggs in one basket.
Casino Payment FAQs
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Some banking institutions might have strict anti-fraud systems in place that have pre-flagged gambling sites or online casinos. If your bank account or debit card is declined, we suggest contacting your bank to confirm it was you, and then using a different method. EWallets are pretty easy to set up, and you can use your bank card to fund the eWallet.
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A lot of online casinos have similar deposit limits, but they really depend on your deposit method. For example, the lowest deposit at Ducky Luck is $25 for almost every method, while at Las Atlantis Casino, you can deposit as little as $10 but only with Neosurf. Generally, the minimum deposit is between $10 and $20.
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In general, crypto is the fastest deposit and withdrawal method. If you use a crypto like ETH, BCH, or LTC, you can expect to see your funds in your account within a few minutes up to an hour. EWallets have similar timeframes, but are known to take a bit longer.
The casino you play at also impacts your payout speed. Fast payout casinos make a point of refining their process so you can get your winnings sooner.
Well, before you sign up at an online casino, make sure to check their banking methods to see if they charge fees for any certain method. Then, if you’re satisfied, you can make a deposit with one of those methods. Often, cryptocurrency is the only fee-less method, though you can get low fees from some eWallets. Plus, some online gambling sites will waive fees for your first deposit, so you can at least bank on that.
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When someone thinks their credit card has been used fraudulently, they can contact their card issuer and file a chargeback claim. This is investigated, and in the case of the early days of the online gambling world, the charge was typically reversed. This meant that someone could head to a site, lose money, then call to cancel their company claiming they never made the deposit in the first place. While there are many more safeguards to protect the credit card companies from this type of fraud, chargebacks do still occur for legitimate reasons, and this causes much concern for processing companies.
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The vast majority of financial betting sites will offer their clients several banking options to choose from for deposits and withdrawals. You’ll find that the selection will vary from site to site. That being said, most of these financial betting sites will take major banking options such as credit cards, bank wires, and check. In some cases, a financial betting site might also offer you banking options that include Bitcoin, Skrill, Paypal, or Neteller. Ultimately, you should seek to find a trusted financial betting site that offers you the ability to bank in your preferred banking option.
It is worth noting one other thing about deposits and withdrawing funds from a financial betting site. We always suggest that you understand a site’s deposit and withdrawal fees before you deposit any money on that site. Banking fees can vary greatly between financial betting sites. By getting a good grasp on any associated banking fees, you can make a more informed choice about which site might be the best fit for your needs.
Betting on a financial betting site can be very safe. That being said, it is important that you do some homework yourself to make sure that you find a trusted site to place your wagers. Assuming you’ve done some homework by using a site like ours, you’ll be on the right track to a safe betting experience. Unfortunately, there are some bad sites out there, and we see folks that didn’t do their homework get burned from time to time. Do yourself a favor and become an informed individual on financial betting sites. A little bit of time and research can save you a ton of headaches down the road!