How to Set Up a Digital Wallet for Online Casino Use
Online casino players often go to great lengths to protect their privacy. If there is information they don’t have to provide to an online casino operator, they won’t provide it. It’s this protectiveness that might well explain why more and more online casino players are using digital wallets to facilitate their online casino banking activities.
What is a Digital Wallet?
A digital wallet is an online software platform or mobile app that allows users to pay for goods and services without having to provide bank account or debit/credit card information. It serves as a “middle-man” payment option between consumers and merchants/service providers.
These wallets offer a lot in the way of personal and financial security because users are only required to fund them when something needs to be paid. Otherwise, there is usually no minimum balance requirement that leaves a user’s funds exposed to theft.
Why Digital Wallets Work So Well as an Online Casino Banking Option
Convenience demands that online casinos do their very best to accept debit and credit cards as well as some type of direct bank transfer option. However, online casino players are shying away from these traditional banking options because of potential exposure to hackers and other bad actors.
Sure, some players are turning to cryptocurrency as their primary banking option. However, the number of people using this option is still rather small for a variety of reasons. It’s the digital wallet option that always seems to make the most sense among online casino players.
Casino players like digital wallets because of the privacy and financial protection they get. Online casino operators like them because they know they will be getting good funds from their customers. They also like the fact that digital wallet transactions can be processed almost instantaneously.
How to Set Up a Digital Wallet for Online Casino Use
For a moment, let’s assume you are ready to open a new online casino gambling account with a top online casino operator like Brango Casino. After completing the registration process, you are now charged with the task of making your first deposit. After hearing horror stories of people losing money because of hacked bank accounts and or debit/credit cards, you decide the digital wallet option is right for you.
The first thing you will need to do is choose a digital wallet platform that you feel will best suit your needs. To help you make the right choice, you might want to start by choosing a couple of online casinos and looking at which digital wallets they are willing to accept. You’ll also need to consider your country of origin since some providers have territorial restrictions.
Here are a few popular digital wallet options you might want to consider, depending on your specific needs. The first three options on this list are favored at Brango Casino:
- Skrill
- Neteller
- Ecopayz
- PayPal
Most people will recognize the PayPal brand. However, caution is warranted because PayPal is very strict about funding online gambling accounts in some countries and regions.
Once you have the right online casino and a digital wallet that you believe will be your best option, you can proceed to open your account. In almost all cases, you will have to provide the digital wallet provider with important personal information.
Popular Digital Wallets Accepted by Brango Casino
Basic Information Required for Account Set Up
- Your legal name
- A legal address
- A valid email address
- A verifiable cell phone number
It’s noteworthy that some digital wallet providers might require other personal information. It’s something that differs from one provider to the next.
After your registration is accepted, you’ll have to select a point of origin for funding. Your funding options will likely include debit cards, credit cards, ACH bank transfers, wire transfers, and in some cases, crypto. It might take your digital wallet provider a couple of days to confirm the validity of your designated funding option.
Good news! Once your funding option is verified, your digital wallet is ready for action.
Using a Digital Wallet to Fund Your Online Casino Account
We’ll start by discussing digital wallet deposits. When the time comes to fund your online casino account, you’ll need to go to that casino’s banking page. On that page you should see a logo for your digital wallet. Click on that logo or option. You’ll be prompted to enter the amount that you want to be transferred and perhaps an email address for communications.
After your online casino operator’s system has requested money from your digital wallet account, you’ll most likely be asked to go to that provider’s website and confirm the transaction you requested. You might be asked for a confirmation code or to simply click an “approved” box.
Once confirmed, your funds should be ready for use on the casino site if the digital wallet funding source is a debit/credit card or crypto. If your account is linked to a bank account, it might take 1-3 business before you’ll have available gambling funds.
As for withdrawals from your casino account, it’s safe to assume everything will work in reverse. However, some caution is warranted because there are a few smaller digital wallet providers that won’t accept deposits on your behalf from outside sources. Keep in mind that reasonable fees will typically be charged for transactions by both the provider and online casino.
More About Your Digital Wallet Options
In one of the above sections, some very popular digital wallet options were mentioned. It seems like a good idea to take the first three and tell you a little something about the companies that are backing those options.
Skrill
If there is one digital wallet provider that has truly embraced the opportunity to serve the online gambling community, it’s Skrill.
Skrill is owned and operated by the Ireland-based Paysafe. Skrill has been involved in the online payment space since the company was founded in July 2001. As an online payment service processor, they are currently serving customers all over the world while specializing in the following industries: online gambling, online gaming, and FOREX trading.
Customers love Skrill because the company processes transactions quickly and efficiently while charging reasonable fees.
Neteller
Meet Skrill’s big brother. Neteller is another global payment processing platform that specializes in serving the gambling industry. It’s a fact that Neteller was the first online payment processing platform to secure general acceptance from the online gambling community. That relationship began in 2000, 1-year after Neteller was founded in Canada.
Neteller is also owned by PaySafe and currently operates out of the Isle of Man.
Ecopayz
Ecopayz was founded in 2000 under the EcoCard brand. The company rebranded to Ecopayz in 2013.
While the company is somewhat smaller than Skrill and Neteller, it still has a reasonably robust following among online casino players. Ecopayz does everything the competition does at similar prices. However, Ecopayz does permit free peer-to-peer (P2P) transfers for its regular customers. They also offer access to extra perks through the company’s VIP program.
If privacy and financial protection are your top concerns as you navigate the world’s online gambling community, you should definitely consider using a digital wallet to manage your online gambling transactions