Introduction
The online gambling world offers loads of different ways to fund accounts, however, one that is becoming increasingly popular is person to person transfers. These don’t mean one player transferring money to another though. Instead, it refers to when a casino starts to accept deposits using P2P services. So, really, it’s a person to casino service!
There are many advantages to using this payment method, as well as a couple of disadvantages too. Keep on reading and you’ll find out everything anyone could need to know about this online casino payment method…
Getting Started
When we talk about person to person transfers, we’re not talking about one specific company. Instead, there are many different companies facilitating this payment option. Perhaps the best known of these is Venmo which is owned by Paypal, Apple Pay Cash or if you are an android user Square’s Cash App. In order to get started, you’ll generally have to set up an account with one of these P2P companies, which shouldn’t take more than a few minutes. What’s more, setting up an account at any of the major companies offering this service should be completely free.
It’s the time to link a payment method to this account, much like when using an e-wallet such as PayPal. Once this has been done, you’re ready to start making deposits at any casino accepting the specific P2P payment method you’ve signed up with.
Deposits
As there are a number of different companies offering this depositing method, it’s not possible to say exactly how to deposit. In general, though, you’ll start by selecting the option from the list, and you’ll then be told where the funds need to be sent to. It’s then necessary to visit the P2P site (sometimes you’ll be automatically directed there) and it’s then simply a case of initiating the transaction. The vast majority of companies offering this type of payment will give instant transactions, so anyone using it can start playing their favorite online casino games straight away.
Withdrawals
In theory, this method can be used for withdrawals, as the player would simply have to provide details of their account to the casino, which would then send the funds over. Essentially, it would be the same process as depositing, but just the other way around. Unfortunately, most online gambling websites don’t offer this as a withdrawal option to players though.
This means that those looking to withdraw will have to nominate a different option. Most will choose to transfer the money straight to their bank account, but it is often also possible to withdraw to an e-wallet account. Always check on withdrawal options before depositing at a site, just in case you want to request a payout later on down the line.
Advantages
The biggest advantage is security. Because the player is the one initiating the transaction, there’s no need to provide any banking details to online gambling sites. The result? They can never fall into the wrong hands. Players will have to provide banking details to the P2P company though – you’ll have to decide whether you’re comfortable with this. Please be assured that all details are always safe when playing at an online casino we recommend though.
Another massive advantage is the fact that there aren’t any fees. The person to person companies do charge small fees, however, these are nearly always paid by the recipient, which in this case is the casino. Always double check to ensure that the casino isn’t passing these costs on, but this is not the case very often at all. So, you’ll have more money to spend at an online gambling site – what’s not to like about that?
Finally, deposits of this type are quick. In fact, they’re so quick that they usually end up in the player’s account instantly. This ensures that players won’t be waiting around before they can play their favorite games. It has to be said that quick transactions are the norm in the online gambling industry, nonetheless, there are some other payment methods, such as bank transfer, that do require players to wait quite a while.
Disadvantages
The main disadvantage is the fact that there are various different names in the industry, all vying for custom. There’s no one company that has managed to dominate the casino industry, and this means that you can’t be sure your chosen P2P method will be accepted. This narrows down the number of available casinos and a reduction in choice means that you might not always be able to play at the perfect site for you.
The only other disadvantage is the fact that players might have to sign up with a service before they can use this payment method. There’s not usually any charge, but spending a couple of minutes doing so can be a little annoying. It won’t take long to do though, and once signed up once, you’ll never have to sign up again. This really is a very small complaint and shouldn’t be enough to put you off paying in this way.
FAQs
It is becoming more and more popular, although it still isn’t found at all online gambling sites. What’s more, there are many different companies of this type, so you won’t necessarily find the same one at different casino sites.
There are actually loads of different companies offering payments of this type, and many are only available to players from specific countries. This means that it’s impossible to state which is best, however, all the big names can be considered safe and trustworthy.
As with most other methods, deposits are instant. What’s more, there are no fees for making deposits and security levels are very high. It’s not possible to make withdrawals using this payment option though, unlike it is with some other banking methods.
The first thing to do is double check the transaction, to see if there were any errors made. If not, you should contact the payment company, to see if the transaction went ahead. If it did, you’ll need to contact your chosen online gambling website.
This really depends on personal preferences, as every casino player wants different things. To find your top site, we’d recommend reading through the reviews of our recommended sites, all of which contain loads of important information.
All Casinos Accepting Person to Person
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