Deposits & Withdrawals
Other than licencing, customer service and collaboration with gambling addiction organizations, payment methods reflect the legitimacy and trustworthiness of a casino in the UK market.
Online casino payment methods reflect what’s the implication a casino has on the UK market.
One popular example
Let’s take PayPal as an example, for some casinos to offer this widely spear payment method in the online gambling environment they need to have a connection of some sort with the United Kingdom.
The provider requires operators to be actively implicated in the country by having at least an office and a bank account. This automatically makes the casino more susceptible and easier to reach by the UK Gambling Commission.
Payment method variety
Now, if you ask us about what would be the optimal number of payment methods a casino should have, our answer would be the more, the merrier. However, we would advise you to pick a casino that has at least one payment method available from a set number of banking option categories.
What payment methods you are expected to find in a casino
- Debit Cards
- E-Wallets
- Wire Transfers
- Pay by phone
- Crypto Currency
It is arguable that the growth of payment methods in the gambling industry was driven by the increasing number of new online casinos and vice versa. Thus, it is essential to check the payment methods and withdrawal methods an online mobile casino offers prior to making a deposit.
The implicit value of payment options
This feature signals the target the casino is addressed to, for example, if speed is the law of order for you, you might want to go with an e-wallet like Skrill, PayPal and Neteller since they offer deposit and withdrawal back to your wallet in less than 24h. Thus, you would probably like to avoid wire transfers which are the slowest of them all. Let’s take a look at each of the categories listed above and give you some concrete examples of these payment methods.
Debit Cards
From far the most popular payment method out there and also the most accessible. King Casino Bonuses believes the popularity of this payment method is also a consequence of the early penetration of the online environment.
Debit cards even though popular in gambling are subject to several restrictions especially when it comes to withdrawals. Several companies such as American Express are not funding gambling in general, and therefore, they simply don’t allow any gambling-related transition.
Furthermore, Visa and Mastercard will allow deposits and withdrawals in the United Kingdom and Ireland. Mastercard however, restricts withdrawal in any other country. Let’s look at the limitations imposed by this payment method.
Debit cards deposit characteristics
| Minimum deposit: | £10 |
| Minimum withdrawal: | £20 |
| Maximum deposit: | No limit |
| Maximum withdraw: | Up to unlimited but amount restricted per day |
| Process time deposit: | Instant |
| Process time Withdrawal: | 24-48h |
| Transfer cost deposit: | Seldom up to 2,5%. |
| Transfer Cost withdrawal: | Seldom up to 2,5%. |
| Withdrawal limits per day: | Some casinos restrict the amount you can withdraw a day. See the casinos T&C |
Payment fees are infrequent and do not reflect a requirement or standard of the current UK gambling market.
E-Wallets
E-wallets and their utilisation within the gambling industry is a lognwinded discussion with many opinions around it. Take for instance the fact that certain e-wallets such as Skrill and Neteller developed as a consequence of the gambling industry.
They have been developed to revolutionize the industry and give mobile online casino user a different payment method that would protect their interest and make money depositing and withdrawals much easier.
The state of e-wallet use in gambling
Today, most casinos in the United Kingdom offer Skrill and Neteller as one of their payment methods. We would say they are close to the popularity of cards if not just as popular. The e-wallet payments are not fully free of charge even though it seems so.
Depositing and withdrawing with this method is free of charge but the catch is in funding your Skrill and Neteller account which costs between 1,75% to 1,90%. However, we expect alignment between Skrill and Neteller as they are owned by the same company now. Let’s take a look at the pros and cons of using e-wallets.
E-wallets deposit characteristics
| Minimum deposit: | £5 – £10 |
| Minimum withdrawal: | £20 |
| Maximum deposit: | No limit |
| Maximum withdraw: | Up to unlimited but amount restricted per day |
| Process time deposit: | Instant |
| Process time Withdrawal: | From 1 to 24h |
| Transfer cost deposit: | No fee. Funding fee from 1-2,5% |
| Transfer Cost withdrawal: | No fee. Funding fee from 1-2,5% |
| Withdrawal limits per day: | Some casinos restrict the amount you can withdraw a day. See the casino’s T&C |
Some payment methods signal exclusivity
PayPal is a more exclusive and less widespread payment method in the UK. They make it more difficult for casinos to acquire this payment method and they are stricter in terms of regulations of money laundering.
We have reasons to believe that casinos that go through months sometimes even a year of negotiation just to offer this payment method are more player driven.
Wire Transfers
The oldest, least practical and least mobile-friendly method of them all, the wire transfer is by far the slowest method of transferring money to your casino account from all the ones available.
Slow for casino payments
This payment method takes sometimes up to 10 days for the withdrawals to reach your bank account and five days for a deposit to be transferred to your bank account.
But proves ideal for large payouts
However, if you are moving a large amount of money around probably bank wires are the recommended payment method for you.
Experts’ advice
If you are still considering bank wire as a payment method, we would recommend Trustly, TrustPay and Zimpler.
Wire Transfers deposit characteristics
| Minimum deposit: | £10 |
| Minimum withdrawal: | £25 |
| Maximum deposit: | No limit |
| Maximum withdraw: | Up to unlimited but amount restricted per day |
| Process time deposit: | 5 days |
| Process time Withdrawal: | From 1 to 10 days |
| Transfer cost deposit: | No fee. Funding fee from 1-2,5% |
| Transfer Cost withdrawal: | No fee. Funding fee from 1-2,5% |
| Withdrawal limits per day: | Some casinos restrict the amount you can withdraw a day. See the casino’s T&C |
Pay by phone, Pay by SMS, BOKU Pay by Mobile
One of the fastest growing methods of payment in the UK. Pay by phone, BOKU or Pay by SMS are developing as quickly on the market also due to their main target and how they facilitate the transitions for players.
These methods are oriented towards mobile online casino players which today account for 70% of the market. This does not however imply that every mobile-playing casino enthusiast uses pay by phone.
The advantage of paying by phone is that it gives you the possibility to enjoy gambling and pay later in your phone bill. For the delayed payment option, the regulators have limited the daily deposits you can make with this method to £30.
Pay by phone bill deposit characteristics
| Minimum deposit: | £10 |
| Minimum withdrawal: | NA |
| Maximum deposit: | £30 |
| Maximum withdraw: | NA |
| Process time deposit: | Instant |
| Process time Withdrawal: | NA |
| Transfer cost deposit: | No fee. |
| Transfer Cost withdrawal: | No fee. |
| Withdrawal limits per day: | NA. Look for other withdrawal options |
Cryptocurrency payments
As in the rest of the online world cryptocurrencies caught ground as well in the gambling world. Today, there are a handful of casinos that provide Bitcoin as a solution of payment. This payment attracts high rollers, and even though it is increasing in popularity, it’s expected to reach its true potential in the upcoming 10 years.
King Casino Bonus believes it’s worth keeping an eye on the use of bitcoin in gambling in the upcoming years. However, for the time being, if you are not a fan of bitcoin you can use it as a reference point to find a casino that is oriented towards high rollers.
How to consider the choice of payment methods
Informed gamblers in the UK understand that, albeit not being the main attraction, casino payments can completely alter the overall gambling experience.
This reason suffices for the choice of banking options to be one of the most crucial criteria for deciding on the right gambling platform after licensing and the overall product quality.
Each table for payment method characteristics includes the essentials of deciding on the viability of a payment method and its functioning in online casinos. There naturally exists a standard for these values. Our experts have gathered an industry-wide presentation of the expected criteria and values for payment methods in general. These are an extension of our efforts of helping you compare casinos and finding the best option.
General standards for deposits and withdrawals
| Choosing criteria | Average values | Best-case values |
|---|---|---|
| Minimum deposit | £10 | £1-£5 |
| Minimum withdrawal | £10-£20 | £1-£5 |
| Maximum deposit | £1,000-£4,000 | No limit |
| Maximum withdrawal | £1,000-£4,000 | No limit |
| Process time deposit | Instant | Instant |
| Process time Withdrawal | 1 – 2 days | 1 day or less |
| Transfer cost deposit | None or 1%-2,5% (low amounts) | None |
| Transfer Cost withdrawal | None or 1%-2,5% (low amounts) | None |
| Withdrawal limits per month | £100,000 – £250,000 | No limit |
Based on these values, you can direct your choice towards various market concerns.
Along these lines, our experts can reliably curate lists for different market requirements.
Casinos that satisfy different market demands
- Fast payout UK casinos – these will include platforms that complete payments to customers in 24 hours or less.
- No minimum deposit casinos online – Here you can find bonuses with the minimum admissible payment, from £10 deposit casino sites, to the less frequent £5 deposit online casino sites, or £1 deposit casinos.
- For the best payout online casinos, we also considered those options that allow for the highest monthly withdrawals, ideally with no such limits.