Bitcoin is a hugely popular way to play online thanks to its ease of use and anonymity, and more and more Bitcoin casinos are appearing every year. But what if you want all the advantages of Bitcoin but don’t understand how it works or desire to invest in such a volatile currency? Can you enjoy the same benefits from other deposit methods, or do you have to make your deposits using traditional methods like a bank transfer or card payments?
The good news is that there are several different deposit methods that avoid using your bank. These are known as the eWallet and provide a stepping stone between your current account and your online casino account. The two most popular of these are PayPal and Skrill.
If you don’t want the complications of Bitcoin but still want a little anonymity, then look out for casinos that accept PayPal. PayPal is one of the most respected online payment systems and offers you enhanced privacy and security as well as much faster transaction times. Not all online casinos offer PayPal as a deposit method, but in some ways, you can use this to your advantage as we will see later.
PayPal started life as Confinity back in 1998 and has grown significantly in the last two decades, mostly due to its strong links with eBay. A significant number of eBay customers use PayPal for their purchases thanks to its simplicity, linking straight from your purchase page. Even further, many other online vendors also offer PayPal as a one-click way of completing your purchase.
In 2018, PayPal had 267 million active users and made a profit of $15.54 billion. The payment platform processed $163.65 billion worth of transactions in the last quarter of 2018 alone.
PayPal was once the biggest processor of casino payments, but the company ceased serving the industry altogether in 2003. When it returned in 2010, PayPal only accepted online casinos with the correct license for their jurisdictions and the strongest levels of security. That means that if you find a casino that offers PayPal deposits, rest assured of the highest standards.
Skrill is a similar payment platform to PayPal, but specializes in international transactions, making it ideal for those who like to play at exotic casinos overseas. Skrill established in 2001 as Moneybookers and has grown to have tens of millions of users worldwide. It is part of the €3.3 billion Paysafe Group, along with former rival NETELLER.
Skrill has lower fees than PayPal while offering many of the same benefits. It also offers high-transaction customers a range of extra perks as part of its VIP Programme. It is the relatively new kid on the block when it comes to online casinos, but it is gaining ground fast on its more-established rival.
The advantages of PayPal and Skrill
With both eWallet systems, you will enjoy several advantages over traditional card deposits or bank transfers. The first and perhaps most important of these is confidentiality. By using an eWallet, you do not have to disclose your bank or card details online. That reduces the risk of those cards getting hacked or your identity stolen. What’s more, if you prefer to keep your gaming activity private, using an eWallet means that casino deposits won’t show on your bank account for your partner or your bank manager to see.
eWallets also make deposits and withdrawals much faster. Instead of laboriously entering your 16-digit card number, name, expiry date and three-digit security code, you can click on the logo and go straight to your eWallet account. That makes deposits almost instant, and withdrawals are as quick, without the usual two- or three-day delay before winnings appear in your bank account or back on your card.
You don’t need to be a computer whizz or risk riding the roller coaster of cryptocurrencies to enjoy easy deposits at your favorite casinos. It is simple, and free, to open an eWallet account with either PayPal or Skrill to handle your transactions. What’s more, once you have proved your identity and location for legal purposes, they are as simple to use for all your online gaming. So, put away your bank cards and keep your private financial details to yourself. Your eWallet is all you need to place your bets.