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Online Casino Cash Out Alternatives

July 4, 2019 Posted in News, Tips by No Comments

Online gamblers have a multitude of options for depositing money and withdrawing funds from online casinos. It used to be that credit cards were the only way to fund these type of transactions.

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That is still a viable alternative but there was always peril with using that optionarm’s and now we are in a world where that risk has, to the point where every online website is a target. The number of hackers acting E-wallets has increased precipitously in the past decade to the point where virtually any website can be hacked for important consumer information including credit card numbers. That development should not preclude you from using credit cards as an option for funding, but you also should be aware of a few key alternatives that are highlighted below.

There are a plethora of options for cashing out your online casino winnings beyond simply using your individual credit card and leaving your information exposed. The easiest and most secure way of withdrawing winnings is to use an electronic wallet to cash out. E-wallets avoid having to enter credit card information or any other information that you would want to secure. There are numerous electronic wallet options out there right now that are selectable but Paypal is probably the most popular and widespread option for electronic wallets. It also is the most accepted electronic wallet for online, business to consumer websites.

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There are also instant banking options that have started to gain popularity recently. Instant banking alternatives are deceiving in name because they are fairly administrative in nature. You are required to transact wire transfers and include all of the banking information each time that you withdraw or deposit funds. However, the upside of instant banking is that it also limits the amount of financial information that you send to the casino and therefore limits your exposure. The most popular instant banking option is E-Check but these type of options are also proliferating each day.

One option that you might hear about and should generally avoid is pre-paid debit credit cards. These are cards that limit your exposure to the amount that you have pre-paid for them. These cards can be purchased at almost any store or convenience store of scale but they generally can’t be used to withdraw casino winnings which limits their utility.

At the end of the day, we are living in a world where electronic wallets are the safest way to pay while being just as effective as traditional banks or credit cards. E-wallets have essentially limited the amount of exposed financial information by keeping an arm’s length between the casino and your electronic wallet. It takes very little time to set up an electronic wallet and funding it can be done with any of your traditional bank accounts. It becomes very easy to complete two-way funding with your electronic wallet and you don’t have to worry about administrative burdens, updating credit card information or exposing sensitive financial information.