Casino Banking: eWallets and Paypal

USA Residents will find that eWallets no longer accept them due to the legal situation regards online gambling in the USA (it’s not actually illegal to gamble under Federal law although in certain States it is illegal and – thanks to the UIGEA law of 2006 – it is also illegal for financial institutions to service deposits and withdrawals between US residents and online gambling sites). I would therefore recommend US players look at “Prepaid” options as detailed on the Prepaid Services page.

Most seasoned players sign up to an “eBanking” service, commonly referred to as an “eWallet”. While not all support gambling activities, there are a number of recognised eBank services that do. The most popular one is Neteller which is almost exclusively used for gambling. Behind this, both Click2Pay and FirePay are widely supported. Lesser use made of services such as Moneybookers, Central Coin, NetPay, Citadel, Payspark andUseMyBank. Also worthy of a mention is PayPal who have started to re-emerge in the online gambling sector for players in countries where online gambling is legal. It will depend on the casino though – tends to be the UK bookmakers and bigger brands that offer the PayPal option.

My preference is Neteller. Neteller is popular and supported by most online casinos. The process is very fast and simple and widely supported with integrated connections built into the casinos. Some casinos even do instant (or near instant) Neteller cashouts. More information on specific cashout times can be located using the search tool in the AZOC casino directory.

Neteller itself is a “free” service (you still pay FX fees, see below) that you can sign up to at www.neteller.com. Although not immediately essential, you can “accredit” your account by providing ID to Neteller, which increases your limits and expands the options. I would advise doing this. Neteller also allows you to deposit into it using a credit card (instant) or via Bank Wire or Internet Banking (0-3 days). Additionally, with an accredited account, you can also bank wire funds back to your bank account.

One footnote concerning Neteller and other eWallets. When you deposit and withdraw into your eWallet account, any currency conversion rates (FX) are subject to the rate applied by the eWallet. Thus, I would suggest that you open casino accounts in the same currency as your eWallet account to avoid subjecting yourself to these. VIPs at Neteller are offered Multi Currency accounts – effectively you can have a second Neteller account in a different currency.

Finally I would probably recommend against using Firepay. The reason being is they allow punters credit and this can backfire horribly. I’ve read stories about Federal prosecutors hounding Firepay users for getting into the hole and not being able to pay up so I’d recommend using accounts (ie: Neteller) where you have to fund your account in advance.

Related Articles

» Credit & Debit Cards
» Prepaid Services
» Other Methods

» Cashing Out
» Security & ID
» The “Reverse Withdrawal” Feature
» Other Stuff Regards Cashouts

« Depositing & Banking Options Overview

« Depositing And Withdrawing Section Index