The most important aspect of online gambling is neither luck nor strategy. Solid money management is of the utmost importance for online casino players. It does not matter if the game of choice is poker, blackjack, roulette, or virtual one-armed bandits; the enjoyment of Internet gaming requires effective money management. To this effect, the choice of eWallet is the first step towards smart money management.
In a traditional, bricks-and-mortar casino, players take their wallets and convert their cash into chips. This simple approach is similar in online casinos; however, the wallets are digital and the chips are not used by all virtual gaming parlors. Instead of heading to the casino cages where friendly cashiers await, online players are expected to open accounts and fund them by means of electronic transfers.
Early funding methods for online casinos consisted of mailing checks or money orders; wire transfers and credit card transactions came later. Although these early funding options are still around today for players who wish to use them, the advent of eWallets have made money management easier for online casino gamesters.
The concept of digital wallets emerged in the mid-1990s as the World Wide Web was coming of age. Although e-commerce merchants were the first to adopt them, online casinos quickly followed. Early eWallets empowered consumers who did not have credit or debit cards for the purpose of making online payments. Although the first eWallets required a software download, by the late 20th century they had already switched to the cloud.
eWallets are essentially online payment brokers that accept cash and disburse cash while allowing users to carry out monetary transactions on the Internet. Many modern bank accounts offer eWallet-like features, but not all of them can be used for online casino funding. Also, banks are not as nimble as eWallets when it comes to receiving funds from online casinos, and thus players could end up paying high fees and waiting a long time before they can their hands on the casino earnings.
Choosing the right eWallet for online casino action requires two major considerations: Cash management style and country of residence. The latter consideration is very important insofar as the many restrictions imposed on residents of the United States with regard to online gambling. For example, PayPal is a great eWallet; however, many online casinos choose to not include this American company as a funding option.
Most online casinos offer NETeller as their preferred funding option due to their history of being very friendly to Internet gambling. As a company, NETeller has been around nearly as long as PayPal, and it has always focused on doing business with the online casino industry. NETeller is a very liquid company that has a solid reputation in terms of security and customer service, and it is often considered to be the premier eWallet for online casino players. Similar to PayPal, NETeller offers a convenient debit MasterCard that can be used to quickly access cash at automated teller machines (ATMs) around the world. One of the major reasons NETeller is preferred by many online casino players is that funds are transferred and received almost instantly.
Skrill, Formerly Known as Moneybookers
Moneybookers has been around since 2001, and it is one of NETeller’s strongest competitors. This company, which was rebranded as Skrill in 2013, is known to be very friendly with online sports wagering shops and casinos. Like NETeller, Skrill deals in many currencies and offers a debit MasterCard. Skrill often works with online casinos to offer new account holders very handsome bonuses, which is something that NETeller is also fond of. Also like NETeller, Americans often encounter restrictions when opening accounts.
This German online payment processor focuses on offering an e-commerce alternative to PayPal; however, a bulk of its operations is dedicated to online casinos. Click2Pay works in a way that is very similar to NETeller and Skrill, but it does not offer a debit card.
Whereas the eWallets mentioned above tend to work better when used in conjunction with an existing bank account or debit card, uKash is designed to work with cold, hard cash. This innovative online payments system operates on a cash paradigm; users simply need to find their nearest retail point-of-sale location and exchange money for a voucher that bears a special 19-digit code that is valid for 12 months. uKash vouchers work just like cash at online casinos and partner merchants. Depending on the location, uKash vouchers can be purchased in $20, $50 and $100 amounts. In addition to these neat vouchers, uKash also offers a convenient debit MasterCard available in U.S. dollars, euros and pound sterling.
Thank you admin for sharing this information. Very useful for me.
Well, thanks admin. The ewallet as whole sounds so easy helpful But as the perfect money is concern, I personerly still prefer it pay pal.
Quick question to admin. A while back while searching for an online ewallet, I found that all the ones that I checked out do not accept US players, or do not allow US players to fund online casinos. Do you know of any that will accept US players and allow us to fund online casinos. Thanks.
According to me, best E wallet for online money is Skrill, and Paypal. But I always prefer Skrill over paypal.
Skrill has a better service in my opinion instead of paypal.
I always use skrill.
I see lots of people have answered Paypal which is incorrect for the most part. As Paypal does not allow transfers to Casino accounts.
Skrill also known formerly as MoneyBookers is one of the most used online gaming and gambling payment processors. Now if I am not mistaken you can fund your Skrill account with Paypal.
Good Job ! And thanks to share such introductory topics with us. These are really useful and informative for all of us. I am also using Skrill for my online payments. This one is the best online payment processor, according to me.