In-order to make the online slots guide, payment information as accurate as possible. We’ve included the advantages and disadvantages to all below payment methods.
Card Payments on Online Slots:
Although credit cards and debit cards are one of the most popular payment methods.
It is important to note, the use of credit cards for gambling in the UK was banned in April 2020.
Card payment for gambling are preferred primarily due to their ease of use as well as security guarantee they come with.
Advantages to Using Card Payments for Online Slots
Convenience
With every bank out there ensuring each of their customers has a debit card. It is of no surprise that card payment options are the most convenient facility due to their ease of access, wide acceptance and security or debit card guarantee.
Credit Card Availability
Although the use of credit cards has been banned in the UK, other countries where permitted, are still free to do so. An option we would not advise on, using borrowed cash with interest attached. Nevertheless, credit cards do give users additional access to funds which they otherwise wouldn’t have to play online casinos and slot games.
Security – Online Slots
Card payment security has been tightened in recent years with Google authentication, mobile sms, voice note as well as fingerprint recognition.
To that, most, if not all debit cards now offer a ‘debit card guarantee’, in the case your card is stolen and used, you will receive a full refund regardless of where you are.
Online Casinos also offer charge-backs, although proof may be required however it entails funds used to gamble, not by you, are returned to you.
Disadvantages of Using Card Payments at Online Casinos
As with everything, despite card payments having their advantages, there are areas to which you would also want to consider prior to making your decision to use this option.
Withdrawals – Online Casinos
Despite the wide use of cards for purchases online and retail, not all online casinos accept the use of credit cards. In the UK, the credit card ban in April 2020 means users cannot use this option for deposits nor withdrawals, even if you still have funds.
Debit cards are still accepted by permitting online casinos; however, some online casinos may accept debit card for deposits but not for withdrawal.
Not every online casino supports using visa cards to make withdrawals.
Even though there are a bunch of online casinos that will allow deposits via debit card. Some will not let you make withdrawals.
To also note, withdrawals to debit cards can take 3-5 working days to clear into your account. This can become an inconvenience especially when you need the funds sooner.
Online casinos also have a ‘reverse fund’ option. This means that while the cash is still in the ‘pending’ period, players wishing to gamble can stop the process and reverse the money back into their online casino account.
Possibility of Rejection
Due to ever changing regulation across the globe, some banks will reject online gambling requests made by you. Although, this is very unlikely, it can happen. Particularly in countries where online gambling is highly regulated, such as America and Canada.
Gambling Activity on Card Payments isn’t anonymous
Due to your chosen card being linked directly to your bank account, any gambling activity carried out will show up on your bank statement. This can affect individuals particularly applying for finance or a mortgage, whereby gamblers are looked at as high risk to lend to.