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Payment Options at Casino – A Guide

Author: Anna Talanska

Online casinos have made playing so much more fun and worthwhile. Yet, to enjoy the best possible experience, you really need to single out those casino sites that offer you the best payment options. To help you find your way around these, we have summarily explained what you need to know about payment options in general, as well as offered an additional breakdown of individual payment methods for Australian players.

The Best Casino Payment Options for Australians

Right now, it may be difficult to say what payment method is actually the best for any casino player to use. The truth is that there are quite a few trusted payment processors and providers around, and Australian players prefer to mix them up. Each of these comes with its pros and cons, and overall, they all provide you with the same unwavering quality, allowing you to make deposits and cash out your winnings in no time at all. From bank cards to cryptocurrencies, we have offered a full breakdown of all the payment methods you may use when playing at online casinos in Australia.

Advice on Payment Methods and Their Use

  • Not all payment methods allow you to deposit & withdraw

    As it turns out, some payment methods may be limited to just one of the two operations – deposit or withdraw. Although this does not happen often, players are advised to always check on the specific payment methods they use and what their applicable and conditions are. This way, you will always be prepared and advised on what you can do and cannot do with a certain payment method.

  • Limits, processing times, and limits vary from one casino to the next

    The next thing to check out is what restrictions apply when you use a specific casino. Players are advised always to double-check each payment method in a specific casino, even if they are familiar with it from another casino. The fact is that each casino may adjust what you can do with a specific payment method. For example, a payment method at one casino may allow you to deposit or withdraw up to a certain limit, and other casinos may do things differently. There may be no fees for a certain payment method at certain casinos, but there may be fees at other casinos. Some casinos charge fees on the amount you withdraw, such as 2%, but others prefer a flat rate instead.

  • Payment methods you use that are not gambling-friendly

    This may be another thing you may soon notice in Australia. Some of the payment methods that you have grown accustomed to using may not be readily available to use on a sports betting or online casino website. For example, since April 2024, there has been a ban on using BCU Bank cards as a method of paying for online gambling services.

  • What are the fastest options?

    Another thing you may be interested in is the speed of payment methods. As we mentioned earlier, this may depend on the casino, but some payment methods are universally faster than others, which is very important. For example, cryptocurrencies tend to have lightning-fast deposits and withdrawals, but some casinos may hold your money for several hours to that everything is in order. VIP players may receive faster withdrawals, depending on the casino policy.

  • Deposits cannot be released right away

    One of the things that players think is that they can deposit and withdraw their money at any time – this is usually the case, but not always. For example, a casino may ask you to play the total amount of your money one or three times before you withdraw your money. If you deposit AU$100, you need to make AU$300 bets before you can cash out your money. It’s always good to double-check with each casino before you and make decisions based on that.

  • Be prepared to do a verification prior to withdrawals

    It’s really important to understand that casinos, including those in Australia, are trying to uphold a very high standard of care and player safety. Part of this has to do with the KYC and AML checks, which may feel a little obtrusive to gamblers but are, in fact, standard and recommended practice. A casino that requests AML and KYC information is following a global standard of care. Make sure to follow the process accurately. KYC and AML checks are very easy, providing that you comply with the requirements. Although they may take anything between 24-48 hours, they are usually effortless and require just a few minutes on your part to sort!

Pros & cons

Payment method Pros Cons
Credit/Debit Cards
  • Widely recognized and accepted
  • Very easy to use and has great tech
  • Can deposit and withdraw
  • Higher processing fees
  • Longer to process withdrawals
  • Credit cards are usually blocked from gambling
E-Wallets
  • Low fees
  • Very fast withdrawals
  • Universally trusted
  • Offer additional protection
  • Have rigorous AML & KYC standards
  • You may need to use another payment option to fund your e-wallet
  • They may have low limits
Mobile Payments
  • Very easy and intuitive to use
  • Free to for and universally accepted
  • May even use them offline in certain cases
  • Apple Pay and Google Pay do not usually allow payments to and from casinos
Bank Transfers
  • Secure and trusted
  • Most people already use this payment method
  • Have huge deposit and withdrawal limits
  • Takes a long time to process a payment
  • There may be different fees associated
  • Banks may run additional AML and KYC checks on you
Prepaid Cards
  • -Great for people who value privacy
  • Very secure and hard to abuse
  • Can buy them for cash without leaving a paper trail
  • Won’t be able to use them for withdrawals
  • Limits are somewhat low
  • The voucher will expire within a year of activating it
Cryptocurrencies
  • Fast and secure
  • Have no fees associated with them, usually
  • Almost instant withdrawals unless the casino holds the funds for review
  • Crypto can be volatile
  • Some casinos may not crypto

Which Payment Method to Pick?

Now, for the choice of an actual payment method. Before you choose, check what the available payment methods are. Then, check if the payment method you particularly prefer can be used for both deposits and withdrawals. Next, see if you also have access to this payment method. For example, some payment methods may require that you have a Visa or MasterCard debit or credit card to use them. In the case of bank card withdrawals, it’s good to keep in mind that it could take you up to several days to see the money appear in your bank balance. Furthermore, there may be some fees that may reduce the amount you receive!

If there are no specific restrictions on withdrawals, such as to use the same payment method for deposits and withdrawals, you will have a little more flexibility in what you choose and use. The good news is that deposits tend to be instant and free of any additional commissions or fees! For withdrawals, however, it will depend on what you use. A good choice could be cryptocurrencies because they offer fast cashouts, have almost no fees, and are very reliable. Not to mention that you also benefit from instant withdrawals, which is really what most people are after these days!

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