Best Payment Methods In New Gaming Platforms
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What are the latest payment options in the online gaming industry? Keep reading to find out the most popular payment methods to use in the UK’s new gambling platforms.
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Best New Online Casino Banking Options
Our expert filtered the KingCasinoBonus new casino database by payment methods, and here is a roundup of the best payment methods we found in new online casino sites.
These are the most commonly encountered payment methods, listed by type:
| Payment Method | Deposit | Withdrawal | Type |
|---|---|---|---|
| PayPal | Yes | Yes | Transfer Service/ E-wallet |
| Skrill | Yes | Yes | Digital Wallet |
| Apple Pay | Yes | Depends on the casino | Digital Payment Service |
| Google Pay | Yes | Acquires an additional payment method | Digital Payment Service |
| Neteller | Yes | Yes | Digital Payment Service |
| Visa Cards (debit only) | Yes | Yes | Real Cash Transfer |
| Mastercard (debit only) | Yes | Yes | Real Cash Transfer |
| Paysafecard | Yes | No | Voucher Service |
| Siru Mobile/Payforit | Yes | No | Mobile Payment |
| Wire Transfer | No | Yes | Electronic Transfer of Funds via Banks |
The 2 Best Banking Methods for New Mobile Casinos
As mobile phones are the number 1 device used to access online casinos, Apple and Google Pay are widely used as online casino payment methods.
Most online operators allow deposits with both payments but not withdrawals.
However, those in the iGaming field no longer tailored their cashier section to accept both options.
The difference is that Apple Pay works only on iOS devices. Similarly, Google Pay can only be accessed on Android devices.
Apple Pay
- Instant and wireless access to existing funds
- Most Apple Pay casinos don’t allow withdrawals
- Apple Pay payments in the UK surpassed those of the US and Canada in 2022 – 2 out of 10 Brits used this method for online payments
- The general withdrawal time is 2-3 days, but it can prolong to 5 days
- Only shows as an available method if you use an iOS device
Google Pay
- One-tap funding option in a Google Pay casino
- Requires adding an alternative payment method to withdraw
- In 2020, Google Pay was used by approximately 215,000 people per month for online payments, including iGaming
- It takes around 1-3 business days to withdraw your funds
- Not accepted by all UK casinos
The Ageless Classics: Debit Cards
Debit cards are, to this day, a widely popular online casino payment method for deposits and withdrawals. Considering that around 98% of the UK population holds a debit card, it’s no wonder that top online casinos accept this type of payment, and newer casino sites are almost without exception using it.
They’re a convenient asset because, unlike using credit cards, the player already has these funds.
Interestingly enough, as of 2020, the UKGC has banned using credit cards to place online bets. This has come as additional enforcement in the field of responsible gambling.
This outcome was caused by an official report which stated that around 22% of online gamblers who used credit cards in the UK had been deemed problem gamblers.
Debit Cards: Never Getting Out of Style
- Debit cards add up to the aspect of responsible gaming because you are only accessing the money you have in your account without risking to get into debt
- Withdrawing funds through a debit card is almost as fast as depositing
- Debit card deposits have been much more prevalent in online casinos than credit card ones even before the ban
- The general withdrawal time through a debit card is 3-5 days
Is Visa Better than MasterCard for Online Casino Payments?
These two are some of the most widely used payment methods in all fields. However, Visa takes the lead regarding its popularity with customers in online casinos.
This is mainly due to the constant security improvements added to the cards, which inadvertently increases the number of top Visa casinos in the UK.
However, there is still a great number of Mastercard casinos, as this method is widely used by online players.
Newer British Gamblers Prefer Digital Wallets
Half of UK citizens have stated that they prefer using a digital wallet as a payment method. Out of these, approximately one-third use their digital wallets to play at online gaming sites.
The main reason why UK players choose this method is that it allows for faster transactions – in most cases, the deposits and withdrawals are instant.
Plus, with e-wallets, you can add money to your betting accounts without that showing on your bank statements.
Considering this, it’s no wonder that digital wallets are one of the best online casino payment methods for UK players.
PayPal: No. 1 E-Wallet Choice
- High consumer protection policies
- Monthly or annual limits on transactions
- In 2017, £9.7 billion in gaming payments were made via PayPal casinos
- It takes 2-24 hours to withdraw your funds, but it can take up to 3 days for the cash to reach your bank account
- You may need to pay a fee in some casinos when withdrawing through PayPal
Neteller UK: Small Fees For Casinos
- Fast and fee-free deposits
- Charges upload fees
- In the gambling industry, Neteller is used at 29.03%
- The general withdrawal time for a Neteller UK casino is Instant/1-2 business days
- A seemingly low daily withdrawal limit of £808 and only 10 withdrawals per day
Skrill: Fastest Growing Transfer Service
- High security with anti-fraud measures
- Fees may apply
- Around 14% of Skrill e-wallets are used for gambling
- Withdrawals can take anywhere between a few minutes to 1-5 business days
- When withdrawing from a casino that accepts Skrill, there can be fees between £2-4
Make sure to read through the policies of online casinos since they may not accept certain payment methods.
Other Commonly Used Payment Methods
The vast spread of payment methods allows UK players to choose a transaction option that suits their needs best.
Aside from the already mentioned payment methods, other choices are available on the market – from additional e-wallets to different types of crypto.
This can be backed by the fact that 48.6% of crypto owners would consider utilising their digital coins in gambling. So, seeing the significant demand, online gaming platforms are trying to adapt and offer the needed supply.
EcoPayz
- Type: E-wallet
- Availability: Only in countries where it’s legal (i.e., the UK, Ireland, Spain, France, Italy and around 100 others)
- Why should you use this payment method? It’s a native UK company, making deposits and withdrawals available in 46 different currencies
- Be aware! Some casinos may not provide this form of payment
Trustly
- Type: Online bank transfer payment
- Availability: Available in the UK Trustly casinos and other countries where it’s legal
- Why should you use this payment method? It’s faster than using the standard bank transfer, allows better limits
- Be aware! Not all online casinos accept Trustly Pay n Play
What Does The Future of Online Casino Payments Bring?
According to Vlad George Nita, lead editor at KingCasinoBonus, the technological improvement and rise of blockchain technology will undoubtedly echo through the online gaming industry and affect online casino payment methods.
Today, the list of best online casino payment methods keeps growing with each new technological innovation and trend.
For example, there’s a rise in casinos incorporating NFTs into their promotional packages.
So, it’s safe to say that the future looks bright for UK players who want to spend their free time reading our expert’s online casino reviews before registering.
The only thing that remains is choosing the best method for your particular needs!