Deposit in online casinos – make or lose money?
Euro banknotes | Photo: moerschy, pixabay.com, CC0 Creative Commons
E-gaming is very popular in Germany. In 2015, 375 million euros were turned over in the e-gaming industry (source: Statista). Today, two years later, it is clear that in this also the online casinos play an increasingly important role. Generally, online casinos still have to fight with prejudices and reservations – is online betting legal, are online casinos reliable?- but the online casino offer is constantly growing. With such a wide range of casino games and so many online casinos, the question naturally arises: where to deposit and play, and how does the deposit work at all?
The first question you can only answer yourself, because every casino player has different favorite games and demands on an online casino. The second question is easier to answer, because the registration and deposit process is similar at most online casinos. At all online casinos the registration is free. After you have entered your data, you can often play some games for free, but the options are often limited. Before you deposit at any of the online casinos, there are some noteworthy points that we would like to present to you here:
Available payment methods
Online casinos often offer different payment methods. Some methods are offered by almost all online casinos, while other – often country-specific – payment methods are offered by only a few of them. Each payment method has its own advantages and disadvantages. However, it should be noted that some payment methods are available for deposits, and not for withdrawals. If you deposit with PaySafecard, for example, then choose another payment option for withdrawal, such as bank transfer. The available payment methods can be divided into several categories:
Credit cards, such as VISA and Mastercard
Credit cards are the most accepted payment method worldwide. With the card number, expiration date and CVC number, you can also make instant payments in online casinos. However, credit card payments are not completely free of charge, because you have to pay interest on the payment to the credit institution.
Digital wallets, such as Skrill and PayPal
With providers such as Skrill and PayPal, you can often create a digital account for free with your email address, where you then deposit money by credit card or through your own bank details. Then, when you want to deposit at the online casino, the money is transferred directly from your PayPal or Skrill account to your casino account, regardless of the processing time at the bank.
Prepaid credit cards, such as Paysafecard and Neteller
With the prepaid credit card you have the same payment comfort as with the ‘regular’ credit cards: with the card number and the CVC code you can deposit in almost every online casino. The only difference between ‘normal’ credit cards and their prepaid variants is that you have to put funds on the card beforehand. So you can never use more money in the online casino than you had intended. Also, the card is anonymous: you do not need to enter your name or bank details when depositing at the online casino.
Digital bank transfers (SOFORT, Giropay, iDEAL)
There are also some casinos with SOFORT or other methods of digital transfer. Just like digital wallets, digital bank transfers transfer money in real time or with a very short processing time. So no delays in payment also means no delays in play! The advantage of this payment method is that you do not have to create an extra digital account, as with the digital wallets, but can use the familiar login details of your own bank.
“Normal” bank transfers
Those who do not have access to e-banking, or prefer not to do so, can also deposit with bank transfer at some online casinos. However, it then depends, among other things, on the processing time at the bank, when the money is transferred, and when you can play with it. Since many online casinos have a bank account abroad, the bank transfer from a German account can often take several days.
Deposit bonuses
Up to 1500 euros upon registration, 200% deposit bonus, these and other sayings you will encounter everywhere in the online casino world. No matter how tempting the deposit bonuses are, accepting a deposit bonus is not always the best option. Anything extra play money is very handy at first, but what’s left on the bottom line when it comes time to cash out is often disappointing. This has everything to do with the bonus conditions. Often you have to wager the bonus several times before you can withdraw the money, and the winnings you earned playing with it. For example, if you deposited 100 euros and receive 100% deposit bonus, you will end up with 200 euros to play with. So, with a turnover condition of 30, you need to place bets of at least 30 times 100 euros = 3000 euros before you can withdraw the deposit and the winnings made with it. Most casinos have turnover requirements between 15% and 100%. You also have the option to decline the bonus. So always read the bonus conditions and decide for yourself whether the bonus is really so attractive for you.
So when depositing in online casinos you have many options. However, it is important that you think about how you deposit when you sign up. If you have made the right choice, then playing in online casinos simply becomes much more convenient.