E-wallets, also commonly known as digital wallets, are online electronic wallets where you can store funds and use it for many kind of online payment transactions, including making deposits at online casinos.
Due to its ease of use, as well as being widely accepted at the majority of top online gambling sites, many casino players are using e-wallets as a payment option at online casinos on a regular basis.
In this article, we’ll discuss about the pros and cons of the most popular type of E-wallets, such as PayPal, Neteller, and Skrill, and why it could be the perfect online casino deposit method for you.
The Pros & Cons of E-Wallet Payment for Online Casino
When it comes to deciding which payment option you should use, the easiest way is to look at the pros and cons each method on offer has, and then compare them to each other to see which gives you the most benefit.
Here are some of the advantages and disadvantages that are associated with the use of e-wallet to deposit funds at an online casino.
- Pros:
- One of the reasons why many players use their e-wallets to deposit funds at online casinos is the fact that it automatically fills in the fields of an online order and this would save you much trouble of having to do it yourself. For online merchants, this is a great relief since most users would possibly abandon most online transactions should they feel that the form is much frustrating and confusing. By automating the process of completion, the e-wallet is the only thing that can bring this phenomenon to an end.
- Can be used for verification purposes as you can store identification documents such as driver’s license in the account.
- Improved security, because you don’t have to disclose your personal details to any online merchants.
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Cons:
- Electronic wallets, unlike the contactless digital wallets, have yet to gain acceptance at all online casinos – a drawback that it must address before it can be considered as popular as other deposit methods.
- The other drawback that is associated with e-wallet is the fact that it is phone dependent. If you forget your mobile device at home or the battery runs out, then you will not be able to use the wallet for any transaction.
As you can see, there is actually very few cons for using e-wallets as an online casino deposit payment method. This is why it’s rather popular among casino enthusiast.
How to Set Up an E-Wallet Account
It is quite simple to set up an e-wallet account. All you will need for this process is to add your financial details, which you will confirm later before you are able to load money into the account and use it at an online casino. This can be classified as the only con in regard to setting up an e-wallet for use in an online casino.
It might take you a number of days to set up the verification procedure even though they are quite easy and simple to use. You will not require even a single cent to set up an e-wallet, and they work conveniently in online casino payment.
Based on the kind of e-wallet that you use, there may be particular fees that you might be required to pay. To avoid any future disappointment, it is important to note that each e-wallet is totally different. You can decide to log in to your e-wallet to access funds or use your e-wallet account alongside your password and email address.
Players, especially from the US, are advised to verify if they can sign up for the e-wallet platform. This is due to the fact that e-wallets such as Neteller and PayPal can at times be choosy about particular online casino sites and the countries they deal with. If your country of residence has strict online gambling regulations, then you might not be able to use this method of deposit.
E-wallets have increasingly become popular to use in gambling industry since they are one of the most convenient means of depositing and withdrawing funds. Some online casinos provide all the options of depositing and withdrawing while others may only offer one or two choices.
Once you have set up your e-wallet, you will be able to send and receive funds worldwide in a secure manner and at reduced costs, without having to reveal any of your financial details.
How E-Wallets Work at an Online Casino
Once the account has been verified, you can use it to deposit funds to online casinos that offer this kind of payment means. If you deposit through Neteller or Skrill, nearly all-gambling sites will be able to support withdrawals that are carried out on such methods of payments. When you make a deposit through an e-wallet, you can choose how you wish to deposit. If you have saved either your debit or credit card, it will directly come from that, and this is one of the ways of avoiding unnecessary uploading fees.
Alternatively, you can also opt first to upload money to your account and deposit it straight from your electronic wallet balance. All you will have to do is to type in the password for your e-wallet through the payment merchant for the casino. It is very important to ensure that your password and other details are kept secure at all times to avoid cases of identity theft. E-wallet payment option is a totally safe process since your details will be encrypted and safeguarded by the casino’s software.
Bonuses are one of the things that should be carefully looked at when making a deposit through an e-wallet account. There are certain online casinos that also provide an extra bonus when depositing through an e-wallet, while some casinos may need additional wagering to be undertaken. This is something that you will find clearly stated in the casino’s terms and conditions. Since payments done on e-wallets are so easy to process, some gambling operators would occasionally entice their users with extra bonuses. This is the way they pass the savings to you as the player.
While you do not necessarily require an electronic wallet to make a payment at an online casino, they have continued to gain more popularity with users worldwide because they are not only the fastest but also the easiest way of depositing funds.
Final Thought
Like most casino payment methods, there are both pros and cons for using e-wallets such as PayPal and Neteller for making deposits and withdrawals at online gambling sites. However, as you would’ve seen from this page, the pros generally outweigh the cons, and for anyone that appreciates ease of use as well as security, E-wallets could be the right payment option for you.
