Poker is a popular card game enjoyed by people worldwide. It is a complex yet fun game that relies more on skill than on sheer luck.
This is especially true for the most popular poker variation, No Limit Hold’em.
Poker players visit online rooms each day, amateurs and professionals alike. While some poker games are designed for high rollers, there are others for those with smaller bankrolls.
To play online poker, you need to deposit some funds into your account. Therefore, you need a payment method to use, which you can also use to withdraw your winnings.
With numerous payment options available, you might find it challenging to choose the right one.
This guide will teach you all about safe and secure payment methods to use when playing poker online.
Credit /debit cards rank among the most popular payment methods at online casinos and poker rooms alike.
Visa and MasterCard are the two most popular cards. They are preferred for numerous reasons, including the safety they offer and the fact they’re accepted worldwide.
Using these cards offers you one of the fastest ways to make online transactions of all kinds, and quite often, you don't have to pay any additional fees.
However, there are disadvantages, too. Debit/credit card withdrawals are slow, and therefore, this payment method isn’t ideal for a player looking for fast payouts.
Also, some banks don’t process betting transactions through these cards. You need to ensure that your bank accepts betting transactions before you settle for this payment option.
There is a new trend in the online betting industry: cryptocurrency payments. One such cryptocurrency is Bitcoin, which has become extremely popular at various online casinos.
The method allows players near-instant withdrawals and deposits. Any poker room that accepts Bitcoin will take the digital currency and instantly turn it into your preferred currency. Some casinos forgo fiat money altogether and use Bitcoin instead.
If you are looking for anonymity when playing online, cryptocurrency is your best payment option.
However, it might restrict you from claiming a welcome bonus if it’s not listed among the qualifying payment methods. Remember to check this aspect to avoid missing out on some sweet rewards and deals.
The use of cryptocurrency to gamble online is still a relatively new concept, and you might not find many rooms that accept it. However, it’s an emerging trend that is bound to catch on, and more casinos will get receptive to it.
PayPal is an e-wallet where you can store your money and use it across multiple platforms, including online casinos.
If your PayPal wallet has funds in it, you can easily make deposits to your poker and/or betting account.
PayPal is highly reliable and convenient as you don’t need to disclose your debit/credit card details to the operator. You can simply make direct transfers from your e-wallet to your player’s account.
Processing fees while using PayPal are low, and if you are making substantial deposits, they will waive the fee altogether.
Most online casinos list PayPal as a payment option as it’s widely accepted. It is a method trusted by both players and casino operators. That said, only players from a select few countries can use this option.
Additionally, many PayPal online casinos don’t allow players to redeem welcome bonuses that require a deposit if they used PayPal as their payment option. If you need to convert currencies while using PayPal, you might also have to pay a fee.
Another popular payment method among many online poker platforms is bank wires/transfers. It is popular due to bank transfer security, especially for deposits as they go from one bank to another.
If you want a secure transfer method from your bank to your poker account, a bank wire/transfer is an excellent option.
However, it comes with its shortcomings. Bank transfers are slower than most payment options. Therefore, the method might not be ideal if you are looking for a fast way to fund your account as the payment processing time can be extended.
The same will happen when you cash out your winnings. In some instances, it will take up to ten days for the funds to reflect in your account, with paper checks taking even longer.
Also, if you are looking for a method with the lowest processing fees, bank transfers are not ideal as they charge higher fees than other options.
Despite the various shortcomings, bank transfers are popular among online bettors in unregulated markets as it’s difficult for authorities to restrict their usage.
What to Consider When Choosing the Best Payment Option
When choosing the best options, there are a few factors to consider to avoid any inconveniences. They include:
Confidentiality and Reliability
Go for the payment method that offers you the most confidentiality. Such a method should employ a fraud-proof verification system that ensures your information and money are always safe and secure.
Your preferred method should be reliable enough to transfer the funds where you send them with no errors.
It should also require you to confirm any payments before they are processed to ensure no one else can access your money.
Simplicity and Affordability
Go for a method that doesn’t involve a complicated process to transfer funds. Having to undergo a rigorous process before you can have the money in your betting account can be a daunting task that might cost you precious time.
E-wallets, including PayPal, are one of the simplest payment methods out there. Also, consider a method that charges no or low transaction fees. Although the costs might seem negligible, they add up over time.
Fast Processing Time
Before you choose a payment method, please find out how long it takes to process your transactions.
Nobody wants to wait for days for the funds to reflect in their account before they can start playing.
The same goes for withdrawals. Players want to cash out their winnings as soon as possible. Go for those methods that offer fast deposits and withdrawals to save time.
It is Time to Choose a Safe and Secure Payment Method
In the end, the decision lies with you. Go for an option that satisfies all your requirements, considering all the factors.
See what methods the poker room accepts and choose the ones you are confident in. you should never compromise on the security and safety of your hard-earned money just to be able to play a few poker hands.