Pay, Play & Cash Out – Making the Most Out of Your Payment Methods

Pay, Play & Cash Out – Making the Most Out of Your Payment Methods

One of the most challenging parts of playing at Australian online casinos is banking. Aussies often have difficulties in depositing or cashing out, and lawmakers are not making things easier. Today, let’s look at the different payment options available at Australian online casinos, which are the most popular, and how your play style may impact your deposit options.

 

Popular Aussie Deposit Options

Depending on the casino, you may have many options for depositing or just a handful. Let’s look at the different deposit options available to Aussies. These options do not apply to every casino, but they are the ones you will see most often.

  • NeosurfNeosurf is a prepaid voucher system where you load money onto a voucher at a physical location and then use that voucher to deposit at online casinos. It is the most widely accepted voucher option at online casinos in Australia.
  • CashtoCode – CashtoCode is similar to Neosurf but is an electronic voucher system.
  • eZeeWallet – eZeeWallet is a digital wallet similar to PayPal and can be used to make payments to online casinos.
  • MiFinity – MiFinity is another e-wallet service that is less popular than eZeeWallet.
  • Cryptocurrency – Most online casinos now accept direct crypto payments for Bitcoin. Many also accept direct payments for many popular Altcoins like Ethereum, Litecoin, Tether, and Dogecoin.
  • Mercuryo – This crypto wallet service lets you buy crypto and send it to online casinos.
  • Changelly – This crypto exchange service allows you to exchange or buy crypto for use at online casinos.
  • Skinsback – With this service, you can make deposits using video gaming skins from popular games like DOTA 2, Rust, and others.
  • Jet Bank Transfer – This service lets you deposit money into online casinos using a bank account.

 

Credit Cards No Longer Legal

In case you haven’t already heard, it is now against Australian law to use credit cards to make deposits at online gambling sites. This includes online casinos. As such, you will likely not see an option to deposit with a credit card. If the option is available, your deposit will likely fail.

The one exception may be for prepaid Maestro cards. Prepaid cards are generally not regulated like standard cards and act as debit cards. If you cannot deposit with Maestro or another prepaid card, we suggest using an e-wallet service or crypto.

Popular Withdrawal Options

Sadly, your options for cashing out are limited. Here’s what you can expect from most casinos when cashing out.

  • Cryptocurrency – If you can deposit with crypto, you likely can cash out with crypto. Most casinos will allow you to cash out in the same coins available for deposits, while others will only allow Bitcoin withdrawals. This is the fastest option and the one with the fewest fees.
  • MiFinity –  Some casinos that accept MiFinity for deposits will also allow you to cash out with the same option. This option is the rarest and only currently available at a handful of sites.
  • Bank Transfer – Many online casinos allow you to request a transfer to your bank account. This option often incurs a fee and has a steep minimum withdrawal.
  • Bank Wire – Wire transfers are offered at some online casinos and often come with both a fee from the casino and a fee from your bank. These options also have the highest minimum withdrawal.
  • Check by Mail – A few rare casinos will issue you a check for your winnings. These often come with a fee and may have a high minimum withdrawal.

 

How You Play is How You Deposit

You may not realise that many people will deposit at online casinos based on how they play. Let’s take a look at how different casino players deposit at online casinos.

  • Conservative Players – A conservative player is one that does not gamble for high stakes and they often stick with casino games with lower variance. This same approach is usually reflected in the options they choose. Conservative players often stick with established payment options like credit and debit cards and prepaid vouchers.
  • Aggressive Players – Your aggressive players are those who like to gamble it up and take the ultimate risk. They like to play high-variance games where there is high risk but high reward. These players will take more chances with their money, such as depositing with cryptocurrency or crypto payment services. These players will also use credit cards – if they have a card with enough of a limit to allow larger deposits.
  • Young Players—We give young players their own classification because they are a bit more tech-savvy and open to using e-wallets and other forms of third-party services. These are the folks who will use eZeeWallet and other digital payment options. They are also much more likely to use crypto than older or conservative players.
  • Experienced Gamblers – In recent years, we’ve noticed that most experienced gamblers are gravitating exclusively to cryptocurrencies. They often have their own dedicated wallet for payments and withdrawals and have become experts at paying with crypto. It’s all about convenience, and crypto is the most convenient way to pay.

 

Which Banking Options Are the Best?

Not surprisingly, cryptocurrency is the most popular banking option worldwide. Most online casino transactions are made with crypto as it is deregulated, incurs the fewest costs for the casino and player, and is more secure than any other payment option.

If you cannot use crypto, Neosurf is currently the #2 option for most online casinos. While you will have to do a little more legwork to make your deposit, it is fast and more secure than other options. For cashing out, there really isn’t a good alternative to crypto. Bank transfers are the second most popular, but only because many casinos have no other options.

Ultimately, the best option is the one that is most convenient for you. If you are unfamiliar with any of the available banking options out there, then check out our guide to deposit options at casinos to find out more. That way, you can make an informed decision and choose the banking option that is best for you.

Henry Walker

Henry Walker

Head of Casinos

Since 2017, Henry has brought his professional insight and passion for casino games to the world of Australian Internet Pokies. He’s our resident fact checker who goes through online casinos with a fine-tooth comb, searching for the best casinos, pokies and promotions.

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