Will digital wallets overtake debit and credit card payments at online casinos?

Online casinos are changing all the time – both in the games they offer, and how players are choosing to pay… and it’s all thanks to technology.

Digital wallets overtake payments at online casinos

One of the biggest changes we have to talk about is the increasing popularity of online and digital wallets.

From PayPal to Skrill and Neteller, they are now some of the most widely used in the world of online casinos… and that’s the case all over the world… but why?

Are they better than traditional debit or credit cards? Or are they just a decent alternative for players who don’t necessarily like putting their card details online?

One thing’s for sure – whether you’re a fan of table games, live dealer games or even quirky fishing games like Big Bass Bonanza slot, eWallets certainly have their advantages.

So, let’s take a deeper look at why digital wallets are starting to get so popular, what makes them better (or worse) than cards… and which is the best payment method for you.

Why Digital Wallets Are Becoming So Popular in Online Casinos

A digital wallet is basically an online account where you can store money and pay for things online.

It’s a bit like having a virtual purse (or wallet), but it’s a lot quicker…and often a lot more secure than the standard banking methods of old.

And it’s easy to see why people like them so much.

They let you make practically instant deposits and super-fast withdrawals, especially when you compare them to debit and credit cards.

Withdrawing with cards can often take a couple of days… and sometimes even longer!

For a lot of casino players, speed matters – they want to get their money, and who can blame them?

Who wants to wait almost a week to get to their money when digital wallets can pay out in under 24 hours?

Then, there’s the security.

With a digital wallet, you won’t need to share any of your bank or card details with the casino, which means there’s less chance of being exposed to fraud.

Lots of wallets even offer two-factor authentication (2FA) and biometric login options, which generally makes them a safer choice than cards for online casino payments.

Cards vs. Wallets

So, let’s break it down a bit…

• Both bank cards and eWallets offer instant deposits:
  • Winner – both
    
• Digital wallet withdrawals are often done in under 24 hours, while bank cards can take anywhere between 2 to 5 days:
  • Winner – eWallets
    
• With digital wallets, you don’t have to share your card details – but you do when depositing via card:
  • Winner – eWallets
    
• Cards are available everywhere, while digital wallet transactions depend on the casino:
  • Winner – Cards
    
• You can use card transactions to claim bonuses – but some bonuses exclude digital wallet payments:
  • Winner – Cards
    
• Both digital wallets and cards can incur fees, depending on the casino:
  • Winner – Both

So, as you can see, digital wallets are better when it comes to speed and privacy.

However, there may be instances where digital wallet deposits can’t be used to claim welcome bonuses or promotions, which isn’t great if you’re a bonus hunter!

Why Some Still Prefer Debit and Credit Cards

Even with the speed and security that digital wallets offer, there are still a lot of players who want to stick with their trusty debit or credit cards – and they’re not for shifting.

Why? Familiarity and comfort can never be overlooked.

Practically everyone has a card already, so they won’t need to set up a new account or learn a new system. And people know how to use their cards to pay for things online.

And credit cards also offer features such as chargeback protection.

That means that if you think the casino has taken or kept your money unfairly, or you think there’s been some kind of fraud, you can dispute the charge with your card provider… and that’s something you won’t always get with digital wallets.

That said, while debit cards are always OK, the use of credit cards in online gambling is now being restricted – and even banned in some jurisdictions, including the UK, because of concerns over responsible gambling…

People shouldn’t be tempted to pay with money they don’t have. If these restrictions continue, it could see more players trying out online wallets. 

The Most Popular Digital Wallets Used in Online Casinos

If you are thinking about giving digital wallets a go, then here are some of the best to try out:

• PayPal: This is, quite possibly, the most well-known and for good reason. It’s accepted at most reputable casinos; it’s user friendly and is one of the most secure options out there.
• Skrill: This one’s popular with high rollers and international players… it’s fast and reliable.
• Neteller: Neteller is similar to Skrill, and it’s been popular in the online casino world for quite a few years.
• ecoPayz: This option is more popular in Canada and parts of Europe, and it comes with multi-currency options and some of the lowest fees.

While they all have their pros and cons, they’re all generally faster and more private than using a bank card.

Which Is Best for You?

Deciding what is best for you comes down to what’s most important to you. If you’re someone who’s all about speed and security, then digital wallets are certainly the way to go.

You can make those deposits and withdrawals a lot faster, and you won’t even need to give the casino your bank details.

If you’re someone who likes simplicity and familiarity… and you’re not in a rush to get your winnings, then you’ll probably want to stick with the traditional debit card method.

Just remember that in some regions, you won’t be able to use a credit card.

Also, if you do like claiming bonuses, then you’ll want to check the terms before you make your deposit, as you may find eWallets like Neteller and Skrill aren’t eligible.

Digital Wallets Are Winning… But Cards Still Have a Role

Digital wallets are the way forward. They’re fast, private, and they’ve been designed for this.

For online casino players, they’re a lot more convenient than bank cards… especially when it comes to withdrawals.

However, cards aren’t going away anytime soon.

They’re accepted everywhere and they’re familiar to everyone, which makes them the comfortable choice for lots of players. Ultimately, the one that’s right for you depends on your priorities.