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Information about The Best E-Wallet Casinos - Updated February 2024

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What are E-Wallet Casinos?

E-wallet casinos are simply casinos that accept e-wallets, an online payment system that allows users to store and transfer funds in a virtual wallet. It’s a complicated way of describing something you’re no doubt already familiar with, as it’s a category that includes the massively popular PayPal (used by around 20 million UK shoppers every year), as well as Skrill and Neteller (both of which are owned by Paysafe Limited, a company that also owns Paysafecard).

How Do E-Wallet Casinos Work?

Casinos and e-wallets don’t always get along. For a casino to list a payment option on its site, it needs to work with a payment provider, a third-party company that deals with the processing and verification and ensures the funds get to where they need to go. They don’t provide this service for free. So, whenever you deposit or withdraw, there’s a high chance that the casino is losing a few pennies, and the charges are usually higher for e-wallets.

Some casinos remedy this issue by charging the player. You will rarely be charged for a deposit but may need to pay a fixed fee or a percentage when you withdraw. On Jumpman Gaming casinos, it’s a fixed cost of £2.50, elsewhere it’s usually around 2 or 3%.

It’s more common, however, for casinos to set their deposit/withdrawal limits higher for e-wallet users, which is why some sites let you deposit as little as £5 but ask for a minimum of £10 or £20 if you’re using PayPal. Many of them also exclude e-wallet users from welcome bonuses, so you should always check the terms and conditions of a bonus if you use these services.

You don’t need to carefully study every term (although it helps) and can simply use the “CMD/CTRL + F” on your keyboard to look for mentions of your preferred payment method.

Pros of Using E-Wallet Casinos

The main benefit of using e-wallets on online casinos is that they are very safe and simple. PayPal, for instance, uses state-of-the-art encryption to protect its users and you’re also required to use two-factor authentication (2FA), with suspicious logins triggering notifications. You can deposit in a few clicks, and as it’s a self-contained virtual wallet, you can also use it to store your bankroll.

Just store all of your weekly/monthly budget in your PayPal account and then use it to deposit into as many sites as you want. If you don’t want to leave funds in the account, you don’t need to. Just connect a debit card or bank account and process payments every time you deposit.

You can also add a credit card to your PayPal account, but due to the law against credit card gambling, you can’t use that card during the deposit process.

You can use e-wallets on desktop and mobile and while an initial verification is needed, it’s very easy to create an account and get started. It’s also free, and you won’t pay when you make direct transactions either.

Finally, if you want your winnings as quickly as possible, e-wallets are arguably the best option. These days, as noted above, Faster Payments mean that even debit cards can be instant. But that’s not always the case. With e-wallets, the funds should be in your account as soon as the casino initiates a payment, and you can transfer those funds to your bank account just as quickly.

Cons of Using E-Wallet Casinos

There are a couple of downsides to using e-wallets on online casinos.

Firstly, some sites will exclude you from welcome bonuses and other deposit bonuses if you use these methods. You can simply deposit with a debit card to collect the bonus and then switch to using e-wallets, but that’s when this super convenient method stops being so convenient.

Secondly, it takes a little longer to deposit using methods like PayPal than it does using debit cards. Sure, the first time you deposit it’s quicker, as you won’t have to hunt for your card and then enter the details. But thereafter, e-wallets take a little longer. With a debit card registered on your account, you just enter the total and confirm the deposit. With PayPal, you’ll be redirected to the login page and will need to go through 2FA and then confirm your total.

It’s a minor thing, but it becomes a massive headache if you want to place some sports bets, the game is about to start, and you realise your phone is dead.

Finally, some e-wallet services can be a little slow and unhelpful if there is an issue. The same could be said for some banks, of course, but based on our experiences, you’re more likely to have an issue with an e-wallet than your bank.

Again, these are all small things, and they won’t be enough to deter the majority of players from using e-wallet casinos. If you like the convenience and already have accounts with the likes of PayPal and Skrill, it’s probably the best method for you. If you’re not very technically minded, hate using 2FA, and don’t mind giving your debit card number to multiple casinos and bingo sites, you might be better off with the more traditional method.

The Best E-Wallet Casinos - Updated February 2024 FAQ

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