Online gambling has never been more popular or had a wider player base. At the same time, there are now more safe online payment options than ever before. For players in the UK, making payments at online casinos or sportsbooks has never been easier.
Amid the current concerns about data security online – especially after the devastating cyberattack on the British Library in October of last year and the recent summit of world leaders to discuss the subject (alongside other digital concerns) – people are also more aware of how vulnerable their information is. Using a safe online payment method is at the front of everyone’s thoughts.
Thankfully, there are still plenty of safe online payment options for UK gambling establishments. In this article, we’ll provide an explanation of all of the top methods.
Bank/wire transfer
One of the most trusted ways to send money is through a bank or wire transfer. Bank transfers when using online casinos are one of the traditional payment methods and until recently, you would have had to go into a bank branch to arrange one. Today, that is still an option, though most people prefer the convenience of using a banking site or app to schedule a transfer.
There are two kinds of bank transfer. The first is an instant transfer. As the name suggests, these transfers are processed instantly. They are only available in certain regions, and thankfully, the UK is one of them. The other kind is a direct bank transfer. Due to how different banks communicate with each other, direct bank transfers can take one to three days to be processed.
Since transfers go directly through established financial institutions, they have a great reputation for being safe and secure. Just make sure you always double-check the account information before sending a transfer.
Debit cards
Debit cards are likely the most convenient and widely used payment method because they can be used online or in person, and are one of the best-established payment methods. Debit card payments can either be made with physical debit cards or by using a digital debit card stored in an e-wallet. Any fees are typically set by the bank, rather than by the online gambling site.
One thing to remember as you’re deciding how to pay at an online casino or sportsbook is that players in the UK can no longer pay by credit card. This regulation is an effort to encourage responsible gambling behaviour.
Prepaid cards
Prepaid cards remind many people of getting gift cards as a last-minute present – usually when you’re waiting in the queue for a till and suddenly remember that you need to get a gift. Thanks to paysafecard, you now have an alternative.
Paysafecard is essentially a gift card that can be reloaded at any time. It does not need to be linked to an individual’s bank account. This makes it a very safe payment method, because no matter what happens, only the amount that has been paid into the card can be lost or stolen. The company has been acquired by the same company that operates Skrill and Neteller, so that provides an added layer of confidence.
Players who know they struggle with setting a budget or who prefer to keep their finances divided into targeted accounts are the ideal candidates for using paysafecard. It is also a good option for players who travel, since paysafecard is an accepted form of payment in over 50 countries.
While paysafecard is the most popular prepaid card, it isn’t the only one. Prepaid Visa and Mastercard gift cards are also very popular. Just like debit cards, prepaid cards can be physical or digital.
Payment apps
Payment apps are another incredibly popular and very safe way to make payments at online casinos or online sportsbooks in the UK. Most payment apps work in a similar way – they are linked to a bank account but also hold their own balance. This provides security for both the account holder and for the organisation they’re spending with.
The original payment app is, of course, PayPal. PayPal was launched in 2000 and was the official payment method for eBay in the early days of both companies. It is one of the safest and most trusted payment methods. Other payment apps have been launched in recent years and have had a lot of success. Skrill and Neteller are two of the leading new payment apps accepted in the UK.
Mobile billing
One of the more unique ways to pay is by mobile bill. Online casinos that offer this option allow players to pay for their casino deposits through their mobile bill instead of by entering payment information. This works by either adding the amount to your monthly bill or by deducting it from your prepaid balance.
There are several benefits to paying by mobile. It is quick and secure, and limits the number of sites that you have to input your financial information on. This method also has lower deposit limits than most other payment methods, which makes it easier to spend less on gambling. However, some online casinos that offer this payment method do charge fees.