When to Use E-Wallets at Online Casinos

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When to Use eWallets at Online Casinos

September 16, 2009

Credit cards and e-wallets are the two most common methods of funding online casino accounts. Each of these methods has its own advantages and disadvantages. Players need to consider their specific situations before deciding which of these two options is more suitable for them. This article describes the situations where players would find it more useful to use e-wallets.

Players who change online casinos frequently would be better advised to use e-wallets. The initial registration of credit cards is a time consuming and cumbersome process. Players have to submit documents like authorization forms and photocopies of credit cards to the online casinos. The online casino then conducts a verification process before allowing the player to wager that the online casino. Some online casinos allow players to wager before the verification process is complete but do not allow them to withdraw funds. Every time the player registers at a new online casino he will have to undergo this process. Using an e-wallet remedies the situation. The player can fund his e-wallet using a credit card. The verification involved will be a one-time process. When the player transfers funds from his e-wallet to the online casino accounts there is no verification required and the credit is instantaneous. The player can transfer funds to as many online casinos as he wants to, even if it is the first time he is doing so. The online casino will not be concerned with the correctness or otherwise of his credit card since they have been assured of funds by the e-wallet.

This process also offers another advantage. The sensitive credit card details will be only on one server, that of the e-wallet. Hence a play wagering at many online casinos need not submit his credit card details at each and every online casino. Though the servers of online casinos are secure, if a person does not have to provide the information then there is zero chance of identity theft. Therefore players wagering at a large number of online casinos, even if they do not change them frequently, would be better off using e-wallets to fund online casino accounts.

There are some situations in which credit cards do not function satisfactorily. In these situations players are virtually compelled to use e-wallets to fund online casino accounts. Some online casinos do not remit withdrawals to credit cards. Also some credit cards in certain countries do not accept withdrawals from online casinos. In such cases if the player uses a credit card to fund the online casino account he will receive his cash outs by way of a paper check. Because of the long procedure involving clearing checks the player will receive his funds after some delay. Most e-wallets accept withdrawals from online casinos. Therefore the player can use the same method for depositing and withdrawing funds and need not get involved with the paper check option.

Particularly in the United States there has been an increase in the incidence of credit card rejection because of the legal situation there. Banks that have issued the credit cards are not certain whether or not they should process transactions related to online gambling. As a result if a transaction is routed through an online casino then it may not be accepted. Players can waste precious time by repeatedly trying to use their credit cards. Generally banks do not have a problem in funding e-wallets because it is not necessary that e-wallets will be used for funding online casinos. Therefore more and more players in the United States are using credit cards, or other means, to fund e-wallets and then transferring funds from e-wallets accounts to online casinos.

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