PayPal and Skrill are the Preferred Banking Methods at Online Casinos

paypal-and-skrill-are-the-preferred-banking-methods-at-online-casinos

Whether you want to play online poker, immerse yourself in exciting online casino games, or bet on your favorite NFL team, you need a safe and easy way to fund your account. Furthermore, you want to find the quickest and most reliable way to withdraw your winnings. Highly-rated online betting sites usually give you loads of different payment methods to choose from. So which ones are the best? Let’s find out.

The three most common payment options at online betting sites are credit/debit cards, eWallets, and prepaid cards or vouchers. Credit cards are very convenient for making deposits, but the fees can add up especially if you get dinged with those annoying cash advance fees. The most frustrating thing about using credit and debit cards is that many of them do not facilitate withdrawals. If they do, those withdrawals can take a week or more to process. Besides, some countries such as Britain have banned credit card use at online gambling sites.

Prepaid cards and vouchers are also great for making deposits. However, most of them don’t allow you to make withdrawals. This means you need to find an alternative withdrawal method. This brings us to eWallets. With eWallets, you can make instant deposits and fast withdrawals at online betting sites. The two most popular eWallets are Skrill and PayPal. When you play at a PayPal casino or a Skrill betting site, you can use a single payment method to both instantly fund your account and withdraw your money quickly. You’ll also love the low fees.

PayPal has been one of the most widely used payment methods for over twenty years. In fact, it was the largest online gambling payment processor in 2003. PayPal briefly stopped processing transactions with online casinos, but the trusted processor resumed that relationship in 2010. It is once again among the most popular payment options at online betting sites. It should be noted that PayPal only offers its services to licensed and regulated gambling sites. If you see the PayPal logo at an online casino, you know the site operates to the highest standards. As of 2020, an estimated 356 million people have active PayPal accounts that they can use to make payments at over 22 million businesses such as online casinos.

Skrill has been around since 2001 and is also a giant among eWallet payment providers. Millions of Skrill users in over 130 countries conduct hundreds of millions of dollars worth of transactions every year. While PayPal boasts more users than Skrill, it is the latter that is accepted at more online casinos. Skrill is accepted at a vast majority of online casinos and sportsbooks. If you have ever visited an online casino, there’s a very good chance that you’ve seen the Skrill logo. 

Skrill and PayPal are both extremely simple to use and all transactions are safe and secure. You can open a Skrill or PayPal account in seconds. All you really need is an email address to open a free account. You can then link a bank account, credit card, or debit card to transfer money into your Skrill or PayPal account. Once your eWallet account is funded, you need only select it from the list of payment options at your favorite online casino to make an instant deposit. You can even cash in on a plethora of valuable deposit bonuses and other promotions while you’re at it.

Skrill and PayPal are excellent options when it comes to making withdrawals. Many sites process Skrill and PayPal withdrawal requests within 24 hours. That’s pretty fast considering how most other methods can take several days. But, before you can transfer money out of your Skrill account and back to your bank, credit card, or debit card, you first need to verify your identity. Fortunately, this process is quick and straightforward. You’ll need to upload a scanned copy of an official photo ID such as a passport or driver’s license along with a couple of other common documents. You only have to do this once and you’re normally verified within 24 hours or less.

Using Skrill and PayPal makes perfect sense when you consider how versatile they are. They are both widely accepted, easy to use, and highly secure. It takes mere seconds to open an account and the fees are very reasonable. Money transfers cost nothing in some cases. This is why PayPal and Skrill are the preferred banking methods at online casinos. 

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