The Virtues of the E-Wallet in Online Gambling

• Published: May 5, 2013
• Comments
• 

If you are not familiar with the way things work in online casinos, customers deposit money with a casino, through direct contact, in order to begin playing. That can be done through several different methods. Many folks like to use credit cards because the transactions are instantaneous. Bank wires appeal to some, due to the fact that they just make a call and send the money. And then there is a very convenient option called the eCheck, which is almost exactly like writing a paper check, except the information required is entered electronically.

Through these methods you would be required to surrender at least some of your personal financial information to the casino. The last thing we want to start implying here is that casinos themselves are untrustworthy, because a lot has improved in that regard over the years. Still, you may be nervous about directly giving that kind of information over to the casino, and that is why you would be in luck due to the fact that there is at least one other method available that is relatively quick and easy and is very acceptable to the online casinos.

It is called an "electronic wallet," otherwise known as an "e-wallet," and it amounts to an electronic payment service that works in conjunction with some other financial instrument whether it is a bank account or a credit card, in order to create a method by which you can pay for goods and services through a "go-between." The result, when you are dealing with an online casino, is that the casino only gets information about the account you have with the e-wallet, but none of your "root" financial details. Of course, the people at the e-wallet itself are the ones who possess that information, so it's not all completely private, but hey, you can't have everything.

Some examples of e-wallets that are used for online gambling include Neteller, Click2Pay, Skrill (which rebranded itself from its existence as Moneybookers), ClickAndBuy and MyPayLinQ. Even PayPal can be used in some jurisdictions. As far as we can tell, only MyPayLinQ has been used by United States customers. These services are convenient and the casinos are happy for you to use them; in fact, you can get an initial deposit bonus when you make use of some of them. You can check with each individual casino to see which e-wallets they accept.