How Online Casinos Pay You – Cards, Wallets, Bank Transfers

You've deposited money in your online casino account, played your preferred game, and have won the jackpot! But now how do you get that large payout? We'll look at how online casinos pay you and help you select the method that works best for you.

If you want to find online casinos with PayPal as a payment method, visit the PayPal accepted casinos and benefit from quick and safe payouts.

Online Casino Payments in Real Money

Below are the most common payment methods used by online casinos for cash withdrawals.

Credit and Debit Cards

Among all available payment types, credit and debit cards feature as the most common payment method, with nearly all online casino players having them. You can fund your online casino account with your cards and withdraw winnings, but the downside is that withdrawals made with cards may take a few business days to process and may carry transaction fees. As a point of reference, the UK has banned credit cards for gambling, but this is not the case in Nigeria where cards provide a common payment option.

PayPal

A widely used e-wallet service, PayPal, is accepted by many online providers. You can link almost any bank account or credit card to the PayPal service. Using this method, you can complete transactions without providing your banking information directly to the online casino. PayPal is reputable for its consumer protection policies, which can be helpful if a player deposits money into a fraudulent casino. Withdrawals generally take place quickly, often within the next business day. That said, PayPal is not available at all online casinos in Nigeria and be cautious of any transaction fees when doing a withdrawal.

Skrill

Skrill (previously called Moneybookers) is among the oldest e-wallets employed by online casinos. Using Skrill as a method of payment lets you receive casino bonuses as well. Withdrawals to your Skrill account can be instant or take of up to a business day, which means players who win money online can access it quickly. However, players are advised to bear in mind that transferring money over to a bank account outside of Nigeria can incur a 4.99% international fee when withdrawing from a Skrill account.

Neteller

Neteller is another well-known e-wallet service used by online casinos and is based on the Isle of Man. There are over 150 countries which this payment method operates in and it also works with a variety of banks. Depositing funds to your online casino using Neteller usually only takes about an hour, and withdrawing funds from an online casino is usually up to one business day. That being said, though, not all online casinos in Nigeria accept Neteller as a payment method and there are considerable fees associated with transferring funds from your Neteller to your bank account.

Cages and Cashiers

Some online casinos in Nigeria collaborate with brick-and-mortar casinos allowing you to deposit and withdraw funds at the land-based casino's cashier. This method is known as "cage" transactions.

Examples of cage withdrawals:

• BetMGM Cage withdrawal in Michigan at the MGM Grand Detroit Casino

• Betway Cage withdrawal in New Jersey at the Golden Nugget Atlantic City Casino

We have also reviewed BetMGM and Betway, which goes into detail regarding the deposit and withdrawal options offered by each.

eCheck

eChecks have been around for a while for people unable to acquire a credit card. This bank transfer method leverages the Automated Clearing House (ACH) network to process each transaction. eCheck is a dependable payment option with little fees so that you can keep most of your winnings when you withdraw from the casino. Each eCheck transaction is completed and secured by high-level encryption and a digital signature in ACH's network.

Players wishing to use eChecks will need to provide their bank account number and routing number, which may bring some concern to those preferring to not share that information. Also, deposit and withdrawal times may be between 3 to 5 business days.

Bank Transfer

Bank transfers via the SWIFT network enable you and the online casino to directly send money to each other's bank accounts. As one of the oldest methods of payment, you will have access to bank transfers at many online casinos. Additionally, the fees for bank transfers are lower than any intermediary method since it removes the middleman.

Bank transfers are perfect for casino players who would rather not pay high fees. However, while they are perfect for low fees, this payment method is usually slower than other payment methods. Bank transfers can take five days to process or more, especially for withdrawals. Bank transfers also leave a trace of your gambling transaction on your bank account, which is a concern for players who want to keep their gambling activity a secret from their bank.

Cryptocurrency

Bitcoin and similar cryptocurrencies are the newest method of payment available at online casinos, and in recent years, specific Bitcoin casinos have opened. These cryptocurrencies utilize the blockchain network, which allows secure and transparent transactions. Depending on the cryptocurrency, transaction fees are considerably lower than for other methods of payment.

Another benefit of cryptocurrency payments is speed; deposits and withdrawals take a matter of minutes or up to one hour. You also buy and sell these digital coins without including personal details or a bank account, affording you a level of anonymity while you gamble.

Out of all the payment systems available, cryptocurrencies are the hardest for non-technical individuals to manage. You need a wallet of some kind (digital or software wallet, or a hardware wallet) to hold your altcoins and bitcoins.

Furthermore, there is a lack of consumer protection for cryptocurrencies. All transactions are final and irreversible, allowing fraudulent operations run by casinos to easily scam funds from vulnerable victims.

What Can Stop Online Casino Withdrawals?

Online casinos may occasionally take a long time or balk at making a winning payout. Here are the most common reasons a licensed gambling website may not be making a payout:

Large Payouts

Gamblers who win millions at online casinos, particularly in progressive slots or high-roll games, will likely not receive their entire winnings in one day. This does not imply that a licensed and regulated online casino will not payout; instead, they will frequently payout the winnings in monthly installments.

Failure to Meet Wagering Requirements

Players who receive a large bonus from an online casino may find it difficult to cash out. All bonuses - and winnings from free spins - have wagering requirements. This means to clear your wagering requirement, you will need to wager your bonus amount a certain number of times. For example, if you received a $100 bonus, and your wagering requirement is 18x, you will need to wager the $100 bonus 18 times before you are able to cash out your winnings.

System Glitch

After hitting a big jackpot, the last thing anyone wants is for a casino's software or website to malfunction. Unfortunately, the operator does have the right to refuse to credit that payment if the game malfunctions. The reason for this is most likely because there is no record of a win on a specific payout from the game.