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Review of Online Casino Payment Systems

Author: Rode Arteaga
12 December 2019, 09:39
Votes: 1

Online casinos bring huge profits to their owners, so those who have once invested in gambling establishments have never regretted this because this business pays off exponentially.

Review of Online Casino Payment Systems

Opening a casino on the Internet requires its owner to acquire the software and other additional programs for the full operation of the establishment. One of the most important programs is the platform for online casino payment systems since this service makes it possible to transfer funds to the player’s account, as well as to withdraw it.

A company that orders software development often offers its customers to choose a payment system between the most popular ones.

Online Systems for Casino Payments

Yandex.Money

This is a respected payment service on the global financial market. In the past few years, the Yandex team has done a lot in terms of security. Each client is obliged to provide his personal information during registration, sending to the website administration his passport scans and even a notarized document confirming the residential address.

Only after that the client receives access to the Yandex.Wallet service and Yandex.Money bank card. These services can be used for buying goods and services on the Internet. All operations are quick and easy. In addition, you can make payments and transfers without registration.

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The service is constantly evolving and improving, and this payment system has been used by online casinos for quite a long time. A person who wants to replenish his account must create a Yandex wallet. After that, he will need to open a page entitled “Replenish the account” on the casino website, select Yandex.Money from existing services and transfer funds. Then a notification will be sent to the indicated e-mail address with the code that is entered into the payment order. When the money is transferred to the account, then a message will be received. Note that Yandex.Money successfully cooperates with thousands of services, including the entertainment ones.

Yandex.Money provides:

  • Money transfer in the shortest time.
  • Simple and convenient service.
  • Confidentiality guarantee.
  • Security when making payments.
  • Quality service.
  • Ability to replenish the account in various ways.

However, everyone who wants to deal with Yandex.Money should know: the system makes all payments only in Russian rubles, and it converts all other currencies in accordance with the exchange rate set by the payment system.

Yandex.Money

Read more: Online Gambling in Eastern Europe – Part 1

VISA

This payment system is chosen by many residents of European countries to make purchases in online stores of different countries and various services. Besides, it is one of the best casino payment systems. A Visa bank card can be issued by any bank after the client enters an agreement with the bank. Making payments by this card is convenient, easy and fast.

To make any financial transaction on the gaming site using the Visa system, you need to log in, get to the section “Cashier”, select a payment method in the offered window, specify the amount and send the payment.

Every respected online gambling establishment requires the card details when registering, and this is a guarantee of a secure money transfer. You should not be afraid of personal information disclosure – all online casinos value their reputation and will not allow a problem situations to happen.

By the way, each user usually has a favorite club or casino, as well as a payment system for casinos, that he considers reliable, and beginners should select a gambling establishment very carefully, relying upon its reputation.

The Visa system is characterized by:

  • Instant transactions.
  • Brand popularity.
  • Impeccable reliability.
  • Opportunity to manage your finances in a casino.

Undoubtedly, there are many other advantages of the Visa payment system, which deserves a separate description. However, as noted by the players, the withdrawal of funds in gambling clubs has some limitations, but this information can be found at the establishment’s website.

Read more: Online Gambling in Eastern Europe – Part 2

WebMoney

The Webmoney system is very popular among Internet users. It has been operating for a very long time and has been used to conduct various payments: for mobile connection services, telephony, the Internet, public utilities and other items. Today, this payment system serves millions of citizens around the world and brings new projects into action. It is difficult to find a person who would not know what WebMoney is. Furthermore, it is one of the most popular online casino payment systems.

WebMoney

To become a Webmoney client, you need to go through the standard procedure – register and open a Webmoney wallet. This procedure takes time and requires concentration because there is a mandatory condition – a user is required not only to provide his personal information but also to comply with the rules of the bank responsible for Webmoney operations in each country.

As for personal information, it should be entered on a mandatory basis. This helps to better secure the client and his funds. Before the registration, you should go to the Webmoney website and study it carefully to avoid making mistakes.

The Webmoney payment system offers:

  • Anonymity of each user and secure money transfer.
  • Almost instant transactions.
  • Offline money transfers from the wallet via terminals and Webmoney cards.
  • Guaranteed withdrawal of funds while playing at the casino.
  • Access to the system in every gambling establishment.

Transactions in gambling establishments take a few seconds, you just need to go to the website and select the transfer method. However, experienced players note that it takes a little more time to withdraw money from a casino account than to deposit it.

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Mastercard

MasterCard is also a popular casino payment system. It has been operating on the market for more than 20 years and is successfully developing, introducing various innovations in its products. The system is used by people all over the world. They are able to open accounts and cards (debit and credit) and pay for various services.

In order to deposit or withdraw funds, you need to do a standard procedure: choose MasterCard among other brands offered, enter the card details in the form and send a payment.

Clients of the system do not have to worry about their confidentiality because personal information is protected by the company.

MasterCard Features:

  • Simplicity of money transfers.
  • Instant transactions.
  • Security of the client's money.
  • Availability of the MasterCard system in every online casino.

Recently, some users have reported cases of inability to pay via this system, but you should learn more about it before playing in an online casino. Moreover, it is recommended to make sure that the gambling establishment is reliable and only after that to make payments.

Read more: Online Platforms for Foreign Players: Main Properties

Mastercard

Maestro

Maestro is one of the most frequently used online casino payment systems in the Russian Federation. Although this service has been launched by MasterCard, it is characterized by sustainability and sufficient autonomy, offering Maestro debit cards to its customers. The client’s funds are located in the bank, and the client has the opportunity to use them at his own discretion until he runs out of money. And there are cards where you can deposit some amount of money without any bank.  

Advantages of the Maestro system:

  • Simplicity and ease of use.
  • Fast transactions and payments receiving.
  • Availability of prepaid cards.
  • Popularity in casino services.

However, the Maestro cards are not accepted in foreign online casinos. It is hard to understand why – there is no explanation on the official resource regarding this issue. Therefore, before registering and playing at any casino, Maestro cardholders are advised to find out if it is possible to pay with the Maestro card on a particular website.

Skrill

Skrill was founded in 2003 under the name Moneybookers and initially was engaged in sports betting and online casino payments. But after the re-branding it changed and expanded its activities. It currently positions itself as a financial company. Today, the Skrill system conducts payment transactions in 170 countries, including the CIS region. Its popularity over the years has grown to unprecedented levels.

Features of the Skrill system:

  • Simplicity and convenience of payment.
  • Guaranteed reliability and safety.
  • High speed of transaction processing.
  • Availability in every online casino.
  • Inability to log in for anonymous users.

The Skrill system supports 39 currencies and quickly converts them. However, the Russian ruble is not included in this list, which, however, does not stop Russian citizens from gambling. During the game, you can choose the desired currency, but then it can not be changed.

Read more: Gambling Scam: How to Identify?

Neteller

Neteller

The Neteller payment system is also appropriate for online casinos. It appeared on the Russian market six years ago and managed to become a well-known and popular service. Experts attribute such successes to the productive partnership of Neteller with the Moneta.ru system, which gives customers additional financial opportunities. You need to register and open an account to be able to make payments via this system.

Neteller’s advantages:

  • Simplicity and good speed of transaction processing.
  • The possibility of obtaining the Net+ card.
  • Availability of the system in all gambling clubs and casinos, including foreign ones.
  • Security of payments.

Users note that the main disadvantage is a high transaction fee.

Ukash

A distinctive feature of the Ukash system is electronic vouchers that were designed for secure payments. Such vouchers can be purchased at various banks and other financial services.

The owner of the voucher can pay online for goods, equipment, mobile operators’ services, public utilities and the Internet, as well as for online casino services. However, there is an interesting fact that the client does not have to provide his personal data when making these payments.

Ukash features:

  • The ability to manage an account in an online casino.
  • Complete user anonymity.
  • Possibility to receive a MasterCard bank card.

A disadvantage is that this payment system for casinos is often unavailable on the Russian gambling websites.

Read more: Gambling Scam: How to Identify? (Part 2)

Click2Pay

The Click2Pay payment system was founded in the late 2000s, but, despite being a young company, it has already managed to gain popularity and respect from partners and users. Using this service, people around the world order and pay for their purchases on the Internet, household appliances, cosmetics, etc. in online stores.

You can also pay for casino services and withdraw funds from your account. If you are already registered on the game resource, then you just need to fill out the payment form. During the registration on Click2Pay, it is better to attach your e-wallet to the card. After that, you will be able to manage your finances via this payment service.

Advantages of Click2Pay:

  • Simplicity and good speed of transaction processing.
  • Popularity on foreign gaming resources.
  • Opportunity to receive a non-personalized Click2Pay/MAESTRO debit card.

Click2Pay

The card is anonymous, it can be used for casino financial operations and the money cannot be traced. Everything related to the Click2Pay system operation is described on the company's website, but not everyone is able to read it: there is no Russian version. However, if you contact the administrators, they will consult you in Russian. The results of the company’s activity show that the service is safe and reliable.

Read more: Risks Faced by Online Casino Customers

PayAnyWay

The PayAnyWay casino payment system represents the well-known operator Moneta.ru. It has the same functionality and allows you to conduct various financial transactions and make payments in gambling establishments. To start using the service, you need to register in Moneybookers.

Financial transactions processing is not difficult for the user, as it follows the traditional scheme: after logging in, you should go to the section “Cashier”, select the Moneybookers system, indicate the amount and make the payment.

PayAnyWay features:

  • Popularity in Russian online casinos.
  • Fast transactions.
  • Smooth withdrawal of funds from websites.

As mentioned earlier, betting companies have joined payment providers fin order to take part in the Payments Expert Forum.

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