Whenever most of us have dreamed about winning money at a casino, we have most likely pictured ourselves scooping up a pile of chips and cashing them in for a big lump of cash. That’s the Hollywood version of visiting a casino, however, and it’s much more likely that the transaction will be a digital one as the action takes place online.
Just like their counterparts in the physical world, many of which have those impenetrable vaults, online casinos are very secure. This is both in a practical sense – many licensed casinos must hold your funds separate from operating funds, for example – and in terms of the steps made to protect financial transactions and player details.
As you might expect, encryption plays an important role in securing transactions at an online casino. Originally, casinos used SSL (Secure Sockets Layer) encryption, but this has now been replaced by TLS (Transport Layer Security). The latter is basically an upgrade of the former, and both were designed to set up a private connection to send encrypted data. In short, your payments made to and from a casino are encrypted.
However, these days people worry about any type of financial transaction on the internet – even at secure sites like banks. For that reason, we wanted to look at which options for online casino offered the greatest protection.
Paysafecard offers high-level protection
The best place to start is with Paysafecard, arguably the most secure way to pay for anything online. You can see the details for how it works in Canada here: Paysafecard – Canada at casino.com. As you can see, deposits are made after receiving a 16-digit code. Normally, you buy the vouchers for Paysafecard in a store, but the company also operates online.
The whole point about Paysafecard is that there are no financial or personal details involved. The voucher code is anonymous, and the company has built up a loyal following among the security-conscious for that reason. If you do not wish to withdraw to a bank account, Paysafecard now has an option for withdrawing funds to a secure Paysafecard account.
We next want to mention e-wallets, particularly PayPal. The company offers, of course, one of the most recognized ways to pay in the world and has a reputation for security. In fact, PayPal offers “bounties” to security experts who can find flaws in its system. And, it should be noted that vulnerabilities persist in 2021. Skrill and Neteller have similar pros and cons. Yet, it should be noted that these payment methods are often excluded from casino bonus offers (for a variety of reasons).
Perhaps one of the more intriguing and secure options available as a payment method at online casinos is Pay by Phone Bill. Not to be confused with mobile payments, like Apple Pay, Pay by Phone Bill is facilitated by companies like Boku. As the name suggests, you simply add the payment to the next bill from your mobile carrier. The main issue is the limit on the amount you can spend. Most phone companies will only float a small amount, so it’s not really suitable for high rollers.
Bitcoin not yet available at major casinos
We should make an important point about Bitcoin, which is likely to interest many as a means to play casino games. At the time of writing, casinos with a license from the major regulatory bodies based in North America and Europe can’t accept cryptocurrency payments. While unlicensed casinos will accept cryptocurrency, you run a gauntlet of risks when playing with such operators.
The final world will go to debit cards and credit cards. Many casinos are not accepting the latter to ensure that players are only playing with what they can afford. As for debit cards, many people are shying away from using them online. They are secure up to a point, and they are covered by the casinos’ encryption protocols, but many players are eschewing them for slicker, faster payment options.