Casino Payment Options

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The UK is one of the leading iGaming jurisdictions globally from a regulatory standpoint. The operators are not allowed to serve British players unless they have a legit licence from the UK Gambling Commission — a regulatory body that oversees all gambling activity in the country.

To gain approval from the UKGC, online gambling brands must adhere to strict responsible gambling rules and comply with specific licensing requirements — they need to provide annual security audit reports, require their players to go through stringent KYC verification checks and more.

Still, there’s no shortage of legal options for UK online casino fans. When deciding which one to pick, one has to take into account numerous factors, not the least of which is banking.

The good news is that UK gambling brands offer a wide range of casino payment methods, most of which will allow you to get money to and from your account quickly and safely. Still, not all banking solutions are created equal — some boast faster processing times, others utilize stronger security protocols — and if you want to have the best gaming experience possible, you must choose the finest options.

This page breaks down all banking methods used by UK online casinos and highlights their hits and misses while exploring the key features of each payment gateway.

Ways iGaming Operators Guarantee Security with Payment Transactions

Cyber threats are always a major concern for online casino players, given the amount of sensitive data they provide during registration and for every transaction. Fortunately, many technical standards imposed by the UKGC also include security elements. In other words, licensees are required to use bulletproof security mechanisms to protect their servers and players’ personal and financial details.

Here’s which payment methods UK casinos use to prevent a data breach during transactions:

  • Secure Socket Layers (SSL) — SSL encryption is considered the gold standard for cyber security and is widely used by banks and digital merchants across the globe. This technology hides the data that’s being transferred during casino banking from unauthorized third parties.
  • Advanced firewalls — Casinos employ cutting-edge firewalls that protect their networks from spyware and malicious content. They are the first line of defence against hacker attacks.
  • 2FA — The two-factor authentication is basically an additional layer of security most modern casinos use nowadays. With this software in place, players must go through two steps of verification when making deposits and withdrawals, thus proving that it’s indeed them and not someone else trying to access their personal details.

The Importance of Localisation

Every online gambling business serves customers from various markets and tries to cater to the needs of its users, regardless of the country it’s from. For instance, if a site accepts players from the UK, it needs to include payment providers that are specific to that region, like PayPal, Trustly, Paysafecard, as well as a few APMs (Alternative Payment Methods).

That way, patrons can make deposits and withdrawals seamlessly, as they will be using a method that they are already familiar with. Likewise, if the same platform accepts Canadians, it should add Interac or other Canadian-friendly banking gateways.

By the same token, an online casino should accept multiple currencies, taking into account the preferences of its users. Players shouldn’t be ripped off on conversion fees each time they make a payment but rather be able to carry out their transactions with no additional costs.

Online casinos in the UK typically offer numerous withdrawal and deposit methods. However, it’s worth mentioning that some of these providers can’t be used both ways — you can only use them for deposits. As a result, you may have fewer cash out options.

Each of these payment solutions is unique in its own regard, and all of them have their advantages and disadvantages.

Below, you’ll find an overview of each payment method, along with its features and reasons why it is a great choice for casino payments.

Withdrawal Speed

There’s nothing more frustrating than having to wait for an eternity to cash out your hard-earned casino winnings. Some payment processors have notoriously slow processing speed, while others excel in this regard.

Let’s go over a few lightning-fast payment methods you can use in UK casinos:

  • PayPal — Arguably the most recognisable e-wallet, PayPal is used by millions of casino players across the planet. One of its strong suits is its speed, especially when it comes to withdrawals. On average, PayPal boasts a 24–48 cashout turnaround time, which makes it one of the fastest payment methods in the casino industry.
  • Trustly — Yet another e-wallet provider, Trustly is a great option for casino players. It’s easy to use, and you can link it to your banking institution in the UK. One of the benefits of using Trustly is that it facilitates super-fast deposits and withdrawals. However, cashouts via Trustly may incur some fees, so that’s something to have in mind.
  • EcoPayz — EcoPayz is ubiquitous among UK casinos, and it represents a safe and quick way of transferring funds. It works both ways and is characterized by speedy processing times. The only downside to using this method is that you may be excluded from certain casino bonus offers if you deposit with it.

Convenience

When signing up with an online casino, you’ll probably want to get in on the action as soon as possible. If you choose any one of the following payment options, you won’t have to jump through any hoops, as these methods are easy to set up and use:

  • Paysafecard — This is one of the most popular prepaid services. It is accepted by the lion’s share of casinos in the UK. You can purchase a Paysafe voucher at your nearest retailer and use the 16-digit code to make a deposit at your preferred casino. Note that this is a deposit-only banking method.
  • Neteller — Making deposits and withdrawals via Neteller is a hassle-free process. The e-wallet provider has been around since 2000, and it has since been at the forefront of banking in iGaming. You can fund your Neteller account via your bank or debit card and use the cash to top up your casino account.
  • Boku — Boku is a pay-by-phone payment service that lets you fund your account using your telephone number only. As convenient as it is, Boku has a few weaknesses, not the least of which is its deposit limit. At most sites, deposits via Boku are capped at £30 per day, which makes it more suitable for casual players than high rollers.

Security

We can’t emphasise enough how important choosing a secure payment method is. Gambling operators utilize their proprietary security grid to protect every transaction. They also have strict KYC verification protocols in place to prevent money laundering and underage gambling.

Still, with real money on the line, one can’t be too cautious when choosing a payment method for their casino expenditures. It’s paramount that your chosen provider takes maximum security measures to ensure that your transactions are protected from data theft at all times.

With that in mind, we present three of the safest casino payment methods in the UK:

  • Bank transfers — This payment method has stood the test of time and remained one of the most commonly used banking options among online casino players. You’ll notice the benefits of using this payment solution right away — for instance, you can transfer funds straight from your bank account. It’s also a very safe means of funding your online casino account, as banks use top-end security measures such as firewalls, vulnerability scanning, and anti-malware apps, among others. A notable weakness of bank transfers is slow processing speed — 2–10 days for withdrawals.
  • Debit cards — Regardless of the casino you choose in the UK, it’s almost certain that it accepts Visa and MasterCard as payment methods. One of the main benefits of using debit cards is the fact that you can’t spend more than you have on them, which will allow you to play more responsibly. Also, there are advanced security protocols in place to keep your information safe and properly encrypted.
  • Cryptocurrencies — Cryptos are powered by blockchain technology, which means that you don’t have to disclose any financial details when depositing or withdrawing on sites, as all transactions are anonymous and secure. Though cryptoassests and prepaid cards are considered high-risk methods from a terrorist financing perspective and money laundering, you may still use this option when depositing in some gambling websites. However, that’s not the case when it comes to UK casinos, where Cryptocurrencies are banned now.

Comparison of Online Payment Methods in the UK

Gambling sites in the UK differ amongst each other when it comes to the number and the type of payment methods supported, associated fees, processing times, and limits. Also, each operator has its own bonus policy that may imply that certain banking methods are excluded from promotional offerings.

Our team has compiled a list of mainstream payment methods in the UK, along with some additional info that may help you choose an option that suits your gaming needs best.

Payment Option

Fees

Processing Time

Limits 

Debit Cards (VISA, Maestro, MasterCard)NoneDeposits instant; cashouts 1–5 business days£10–£20,000
Google PayNoneDeposits instant; cashouts 1–5 business days£10–£5,000
Apple PayNoneDeposits instant; cashouts 1–5 business days£10–£5,000
PayPalNoneDeposits instant; cashouts 24–48 hours£10–£5,000
SkrillNoneDeposits instant; cashouts 24–48 hours£10–£5,000
NetellerNoneDeposits instant; cashouts 24–48 hours£10–£5,000
ecoPayzNoneDeposits instant; cashouts 24–48 hours£10–£5,000
PaysafecardNoneDeposits instant; can’t be used for cashouts£10–£1,000 per transaction (you can use multiple vouchers)
Bank wireNone for deposits (cashouts may incur some fees)2–10 days for deposits; 5–28 days for cashouts£20–£50,000
CryptocurrenciesNone for deposits; cashouts may incur small mining feesDeposits instant; around 24 hours for cashouts£10–£20,000
TrustlyNoneDeposits instant; cashouts 24–48 hours£10–£5,000

Banned Payment Methods in the UK

For years, credit cards were the top choice for most online casino players in the UK. This changed in April 2020, when the UKGC introduced a ban on making casino payments via credit cards in an attempt to curb problem gambling. The measure is supposed to add another barrier of protection by preventing users from spending more than they can afford to repay. This prohibition also applies to credit card gambling via e-wallets.

Apart from credit cards, no other payment providers are forbidden in online casinos.

Summing Up

Now that you’ve learned the nuts and bolts of the most commonly offered banking methods in UK casinos, you can make a more educated decision when you decide to swing into action.

All bonus offerings featured on Gamblizard are from trustworthy casino operators that not only accept UK players with open arms but also allow payment options discussed on this page.

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