Online Casino Banking Guide: Payment Options, Casino Payouts & More

woman using a credit card for casino banking

If you want to play for real money at an online casino, you'll need to be using real money of your own. Depositing money with your casino of choice not only allows you to win real money, it also gives you the ability to claim great bonuses to extend your bankroll and keep you playing for longer.

OddsShark's online casino banking guide will teach you how to make deposits and withdrawals with your casino of choice, highlight the top banking options that casinos accept, and explore some of the bonuses that are associated with making deposits.

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Introduction to Casino Deposits

In order to start depositing with a casino, you'll need to have signed up for an account. Once you have done so, you'll likely be alerted about the casino's welcome bonus, which is typically only available on the first deposit you make to your account. Depending on the casino you're at, you may automatically be taken to, or will need to locate, the Cashier.

The Cashier is the page where all financial activity takes place. You'll be able to deposit money into your account, as well as request a withdrawal if you are eligible. You're also able to see which casino banking methods are available to you. While the banking information pages casinos host can be useful, the payment options on display may not be fully accurate - international casinos tend to list every banking option they accept, even though some may only be available in certain countries or regions.

Depending on the casino banking option you're using, you may be asked for your payment details right on the Cashier page, or you may be connected to an external website to make the transaction.

Introduction to Casino Withdrawals

Casino banking is not only limited to making deposits; you are also able to withdraw what you've won from your casino account. If you've claimed a casino bonus, you'll need to meet its wagering requirements - typically having bet 30 to 50 times the amount of the initial bonus - before you're able to withdraw any of the money that you have won using it.

Withdrawals work similarly to deposits, with the exception of inputting how much you'd like to take out of the casino instead of how much you'd like to put in. However, not every available deposit method will also be a valid withdrawal method. For example, almost all casinos offer credit cards as a deposit method, but only some may allow you to withdraw using them. There may also be additional restrictions, such as only being able to withdraw via Visa, even if deposits are also accepted through Mastercard and American Express.

Further, casino withdrawal limits may prevent high-rollers from being able to take as much money out of a casino at a time as they might like to. Casinos tend to have firm limits regarding how much money you can withdraw over the course of a month, and there may be additional limits for weekly or even daily withdrawals.

Casino Deposits Guide

The average online casino allows you to add money to your account using multiple methods, each of which have their advantages and disadvantages. Here are some of the more common banking methods that your preferred casino might accept.

Credit Cards

Credit cards, such as Visa and Mastercard, are the most common and secure casino banking methods. Some gambling sites may also allow players to deposit via American Express. Credit cards are used for all sorts of online transactions, and they are one of the simplest, most direct ways to add money to your casino account.

Interac

Interac is an increasingly popular banking method that allows you to add money to your casino account from your bank account via your debit card. While some may find it more convenient than using a credit card, the money you use is money you already have as opposed to credit, so you might wish to enforce a limit to prevent you from spending too much.

eCheck

eChecks function just like regular checks, and are a safe and secure way to add money to your casino account. Similar to Interac, they allow you to use money from your bank account, but the casino never gains access to your banking details. This means that unlike previous casino banking options, there is no direct line between the casino and your money, which may help some players from spending more than they intended to during a session. However, despite the advantages of eChecks, they may not be accepted at every online casino.

eWallets

There are a large number of eWallets offered as casino payment options around the world, including Skrill, Neteller, and EcoCard, which is owned by Mastercard. eWallets act as a third-party service for you to store money in, which can then be spent at an online casino. One of the biggest advantages to using an eWallet is that you decide how much money it contains at a time, so there is no risk of overspending. As well, eWallets are run by third-party companies, so your financial information won't directly be shared with your casino. The biggest drawback of eWallets is that there are quite a few of them available, and so your preferred one might not be accepted by your casino of choice.

Apple Pay

While a relatively new payment type compared to the others, Apple Pay is quickly being adopted by a large number of casinos. Apple Pay is Apple's eWallet, allowing users to make online purchases through the use of face recognition or fingerprint technology. Apple Pay might be a bit of a novelty, but there's nothing wrong with adding some extra security or verification measures to a payment - especially in the case of online casino banking, where you might be adding hundreds of dollars to your account at a time.

PaySafeCard

Similar to Visa or Mastercard prepaid cards, PaySafeCard is a voucher that you can purchase in shops or online that has a fixed value, which can then be used to play at online casinos. It's certainly one of the more novel casino banking options, but it allows people who'd rather not use their banking information online a chance to play with no risk. Further, since every card is worth a fixed amount, you can't use more than that amount - there's no risk of overspending.

coins for casino banking

Deposit Bonuses Guide

Not only does depositing allow you to add real money to your casino account to play and win with, it also gives you access to the various bonuses that a casino may have on offer. Depending on the site, there may even be exclusive bonuses available to those who use a certain casino banking method.

Welcome Bonuses

Welcome bonuses are often the best promotion that a casino offers. They are typically incredibly generous bonuses that are intended to attract new players and encourage them to start playing. What many casino banking guides don't mention is that depending on the casino you're choosing to play at, you may need to make multiple deposits to access the full scope of the bonus, or make all of the required deposits within a certain time frame.

Welcome bonuses are designed to suit all types of players, but everyone has a different idea of what a good value is. You may be plenty happy only claiming a few hundred dollars from a welcome bonus instead of the thousands it might offer.

Match Bonuses

Match bonuses are the most common types of bonus at a casino. No matter which casino banking option you use, the value of the bonus is directly tied to how much you choose to deposit. An example of a match bonus is 100% up to $100, which means that anything you deposit up to $100 would be doubled.

When you claim a match bonus, keep in mind that while making higher deposits means more money to play with, it also affects how much you'll need to bet to satisfy the wagering requirement.

Free Spins Bonuses

Free spins bonuses grant you a certain amount of spins on a specific slot machine, with anything you win being added to your casino account. Since they technically have a value but you may not win anything using them, they are usually subject to different wagering requirements than other types of casino bonuses.

Introduction to Cryptocurrency Casino Banking Methods

A casino banking method that has grown dramatically in popularity over the past several years is cryptocurrency. An increasing number of casinos allow for deposits and withdrawals using Bitcoin, with some even allowing for other coins, such as Ethereum and Litecoin.

Using cryptocurrency for casino banking is a bit more complicated than other options, as if you do not already have any, you need to acquire some. There is also a specialized wallet required to store and use your cryptocurrency; without having a wallet, you can't make any transactions.

Depositing cryptocurrency into your casino account is not much different than using any other casino banking method - you'll need to connect to your wallet from the casino and choose how much you'd like to deposit. However, one thing to be mindful of is that the value of cryptocurrency is constantly fluctuating, so if you deposit a certain amount, it may not always be worth what it is at that time.