Top Features and Considerations of the Best Gambling E-Wallet

It’s practically impossible not to find three or four e-wallet solutions at the best mobile casinos. This mode of payment is lauded for its simplicity and convenience. But with so many options out there, choosing a payment solution at the best e-wallet casino isn’t everybody’s cup of tea. So, sit tight as this guidepost walks you through all the irreducible minimums to ask from a gambling e-wallet.

What are e-wallets?

In plain language, e-wallets or electronic wallets are online payment solutions. They allow people to receive, send, and save money without setting foot in a bank. In a typical scenario, you simply attach your bank card and transfer any amount you want to share. 

With that in mind, there are many e-wallet options to choose from these days. But the most common are PayPal, Neteller, and Skrill. Other notable names include Payoneer, Paysafecard, ProPay, Stripe, and many others. The trick is to select an e-wallet option that works for you, as you’ll find out. 

Selecting the best gambling e-wallet

Selecting an e-wallet can be a sweaty affair if you’re still a beginner with this payment solution. Fortunately, you can easily cherry-pick the best options with these criteria:

Safety and security

Depositing or withdrawing cash from the best mobile casinos should be done via safe and secure channels. So, ensure that an e-wallet is fully licensed to provide financial services. PayPal, for example, is licensed in all US states and Europe. On the other side, Neteller is regulated by the FCA (Financial Conduct Authority). Leave nothing to chance in terms of licensing.

Not only that, the best e-wallet should be SSL encrypted to prevent any breach of data while transacting online. Ensure this by checking if the website has a "lock" sign and starts with HTTPS. And if possible, the payment service provider should use 2-step verification to add another layer of authentication. 

Supported currencies

Don’t ignore this critical yet vital aspect of e-wallet gambling. An e-wallet that offers only a handful of fiat currencies is a no-go zone. The payment solution should support other currencies apart from popular options like USD, Euro, CAD, and Pound. This can come in handy, especially if you like playing in offshore online casinos where payments can be made in local currencies.

The most reliable e-wallet options should also support Bitcoin and cryptocurrency payments. Again, this is one area where PayPal shines above the rest. As expected, you can also buy and sell cryptocurrencies on Neteller and Skrill. This can be a double win for crypto betting fans. And don’t forget to compare the money conversion rates.

Transaction speed

The duration it takes to complete a single transaction between the e-wallet and the mobile casino should make or break the deal. In a typical scenario, an e-wallet should support instant deposits. This should be the case when funding the wallet and transferring money to the mobile casino.

On the other end, withdrawals should also be instant, although this highly depends on the casino. Most casinos will process e-wallet payments almost instantly. But don’t panic until at least 48 working hours have elapsed. This is the time most casinos usually take to process winnings via e-wallets.

Customer support

Last, but undoubtedly not least, look at the e-wallet support. Sometimes your payment can be processed successfully only to get stuck in an unknown gray area. In that case, the e-wallet support should always be on standby to allay your fears. Now, this is an area that most companies need to improve. If possible, only select a payment solution with instant support.

Below are the most common support channels:

• Live chat – instant support
• Email – up to 24 hours
• Phone – instant support
• Social media – up to 24 hours

Conclusion

An electronic payment solution should tick all the boxes above before giving it the green light. But don’t worry because the most popular options mentioned in this article are reliable. The difference is the conversion rates, support, and maximum transaction limits. So, be careful!