Business • Casino
How to Choose a Safe Payment Method for Online Casino
Choosing a payment method is not always as easy as it might sound, because not all payment methods are safe and especially, not all online casinos are safe. On the other hand we don’t want to be scaring you: nowadays it’s nearly impossible to run into an unreliable casino.
However, it is always better to be safe than sorry, which is why you should continue reading. In this article we’ll be discussing safe payment methods at online casinos. After reading our post, you’ll know how to spot the safest casinos and payment methods and get a more enjoyable gaming experience. Let’s get started with the very basics.
Safe Payment Methods Require A Safe Online Casino
First things first: the most important thing when choosing a place to play online at, is to make sure that the chosen casino is safe. ParhaatUudetKasinot is a great example of a site that showcases reliable casinos only. It is for the Finnish players, but there are similar sites for nearly every language and country.
If you want to explore the exciting world of online casinos on your own, make sure you have of this you can check from the bottom of the front page: close to the footer, there’s usually a section where' you’ll find information about the company behind the casino and about the license that the casino is operating under.
If the license is coming from certain authorities, you know the casino is a secure one. These authorities are most commonly from Malta, Estonia and the UK. Other things that you should check before starting to play at an online casino are for instance these:
- SSL protocol for the site
- RNG for the games
- Tools for responsible gaming
The Safest Payment Methods
Once you have all the things mentioned above covered, you are good to go. Now you just need to figure out which of the payment methods you start using. Typically online casinos offer you a wide range of different methods for money transfers, but nowadays there are also casinos with just one payment option in the markets. Those we will discuss later in this article.
The safest payment methods for online casinos are at the moment as follows:
- Credit cards, such as Visa and MasterCard
- E-wallets, such as MuchBetter, Skrill and Neteller
- Bank transfers
How To Make a Safe Deposit
Before you can make a deposit, you need a player account. This you can create easily and in only a few minutes. The process is usually very straight-forward: you’ll fill in an electronic form in which you give your name, address and other personal details. Once you’ve filled all the necessary parts, the player account is open. Typically you need to activate it with a code or a link that you get to your email or your phone as an SMS.
After the account is activated, it’s time to start making the first deposit. Navigate yourself to the cashier and select the safe payment method you wish to use for a deposit. Then just follow the instructions and there you go: the first deposit is ready and you are able to start playing.
How To Make a Safe Withdrawal
When it comes to safe withdrawals, all reliable online casinos operate the same way. This means that before you can make the first withdrawal, you need to go through a KYC (Know Your Customer) process. The process requires you to send certain documents to the online casino you have chosen. These documents are for instance a copy of your ID card and a copy of an invoice that states your name and home address clearly.
Once the online casino has accepted the documents and processed them, you are able to withdraw money safely from your player account. Usually online casinos want you to use the same method for both deposits and withdrawals.
New and Fast Payment Methods Can Also Be Safe
Typically players have been using the more traditional payment methods, such as Visa and MasterCard. On the other hand the field of international payments: new kinds of solutions are being created as we speak, and already now there are many innovative systems to choose from. For instance e-wallets are getting better all the time: in the beginning you had only your e-wallet but now you can also add a Visa or a MasterCard to it.
If you are not familiar with new types of payment methods, you might be scared of them. In our experience, new payment methods can be just as safe, or not even safer, than the traditional ones. On the other hand you should always be careful when picking a new method: make sure that it is truly a safe one. The easiest way to do that is to check whether safe casinos are offering it.
What About Payment Methods and Taxes?
A question that we get asked a lot is the possible effects that payment methods might have for taxes. The reality is that none of the payment methods themselves causes you to pay or not to pay taxes. The only thing that matters is the country you are residing in and the casino that you have chosen to play at.
Let’s use Finland as another example. When a Finnish player decides to play at an online casino that has a Maltese or an Estonian license, the winnings are not taxable. If however the player chooses to play at a casino with a license from Curacao (or some other country outside of EU), the taxes need to be paid.
Secure Payment Methods and Bonuses
Majority of European online casinos are offering bonuses to their players. Taxation is not depending on the chosen payment methods, but with bonuses it’s a whole nother thing. This is something that you should take into consideration when choosing a safe online casino payment method, especially if you are interested in taking the offers.
Usually online casinos are not giving bonuses to players that are making deposits with e-wallets. This is due to international laws that have been created to prevent things like money laundering.
Choose a Safe Method and Enjoy Games
Whether it’s a deposit made with an e-wallet or a credit card, the main thing is to be making the deposit in a safe online casino. The safest casinos offer only secured payment methods, so the most important thing is to choose the casino wisely. Once you have a trustworthy online casino chosen, create your account or login, use your favourite payment method and enjoy the games!