The Pros and Cons of Popular Casino Payout Methods

  • Make sure you know how and when to expect your cash
  • We assess the advantages of various casino payout methods

Landing a win at an online casino is fabulous news, but when there’s a hassle to withdraw your winnings, it really puts a dampener on things.

Pay options casino
Don’t let payment methods hinder you getting your hands on your winnings, think what works best for you and go with it

The many financial options on offer at online casinos can be overwhelming, and the best payment method will differ from person to person. So here’s a quick guide to the most popular methods and why you might want to opt for – or steer clear of – them.

Ewallet

Neteller and Skrill are heroes of the withdrawal world and the top two casino ewallets. These methods are super fast and extremely safe (your personal details aren’t disclosed), prolifically used by gamblers everywhere and make moving your money around an easy process.

PayPal is a great option too, though is still gaining ground in the world of online casinos, so you won’t be able to use it everywhere – find out which casinos accept PayPal here. Handling international currency isn’t an issue with the likes of Skrill and Neteller, great if you’re dealing with a casino that doesn’t operate in your own territory.

Payment options
Digital wallets offer safety, security and speed but it’s worth noting that not all casinos accept them at this stage – have a look at our guide for more info

The snag is that if you don’t already have an ewallet, you’ll have to set one up. Thankfully this doesn’t take long and is a minor con given the security and speed they bring.

Bank transfer

In the olden days we all used the high street bank and while most of our dealings have gone online, many prefer to deal straight from one account, without involving any subsidiaries or intermediaries.

This does keep things simple in terms of your personal accounting process, but withdrawals can be slow. Bank transfer isn’t unsafe as such, but if your details were to be intercepted it’s your bank account or other online accounts (via social engineering) that would be at risk, a much more serious proposition than an ewallet which allows for anonymity.

Card

While your credit or debit card may allow you to deposit, the same casino might not permit card withdrawals, which is really annoying if you only discover this when requesting your winnings. It’s much easier to choose a cover-all method, rather than messing about with separate ins and outs and, as with bank transfer, card withdrawals can be slow.

There’s a whole bunch of irritating restrictions as well, based on geography and the whims of the card provider.

payment options
if you’re thinking of sticking with card take note that there can be restrictions in place. As an alternative it’s worth looking at things like Paysafecard

However, this method is a fair bet if – like the BACS lovers – you prefer to keep your incomings/outgoings in one place, or you want to send a payment direct to a credit card to pay off the balance. You could also consider Paysafecard. This is another method that’s designed to provide the safety of anonymity and, because it’s pre-paid, there’s less temptation to overspend. That said, the effort of topping up the card, while minimal, might not suit everyone.

Payout timescales do vary a great deal from casino to casino and between financial providers. Some incur charges and wait times are not an exact science, being affected by holidays and company practices.

So if getting your money fast is a priority, do check the small print found on the casino’s website – most provide straightforward, helpful tables with all the details – before you make your first deposit.

FIND OUT MORE: Read our non-nonsense guide to quick payouts at online casinos here.

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