iGaming is very vast in catering to bettors and gamers with various tastes and preferences. And even though an inexperienced outsider may look inwards and assume that gamblers only have the fun to choose between, a lot more goes into picking the perfect online casino for that one specific gamer.
From initial factors concerning game selection and licensing, to making sure you’re well aware of new game releases and are constantly forecasting on point spreads, the task of making the most of your gaming experience remains far from just being about the game itself.
Payment methods remain a crucial component to take into consideration as you go about picking the perfect online casino for you. While there are several payment services and types of payment forms online, you might want to consider opting for a payment method that would help make the most of your gambling experience. Yes, it’s always best to go for an option that you’re already used to and presently registered with, but maybe it would also work in your favor to explore other options that may just work out easier, safer, cheaper, and quicker.
In this guide, we will be providing you with key reasons why you should consider using prepaid cards for online gambling if you aren’t already doing so. If you’re interested in wanting to learn about this, you can continue reading for more.
Understanding Prepaid Debit Cards
Prepaid debit cards are not much different from your normal debit cards. The main difference between the two is that traditional debit cards are linked to your personal bank account while prepaid cards aren’t. Here, whatever funds you have in your bank account will apply to the debit card, whereas the prepaid card will work based on how much you load it with.
Online gambling can be a gamble within itself since many online users are aware of the risks, scams, and hacks that are associated with online transactions. However, the safety and security you’re assured of with other leading and traditional payment services are no different from what you’d find with prepaid cards. This is because prepaid cards are supported by major companies like Mastercard, Visa, Green Dot, and PayPal that create and launch prepaid cards to offer interested users. Sometimes, operators themselves have prepaid cards of their own. This makes prepaid cards accessible and widely accepted.
Prepaid Card Advantages
Within the United States, prepaid cards have become a mainstream payment platform after growing beyond their humble beginnings of initially being an ideal option mainly for gamers without bank accounts. So, let’s have a look at leading advantages that you should keep in mind as you go about exploring their use:
- When gamers apply for prepaid cards, no credit checks are done.
- Prepaid cards cannot be overdrawn and this works hand-in-hand with policies and suggestions that encourage gamblers to gamble responsibly and avoid overspending.
- In the event of you losing the prepaid card, as with a normal debit card, no one can use the funds on the card unless they have your PIN to the card.
- Gamblers can keep all their sensitive information private since prepaid cards aren’t linked to any gambler’s financial or personal details.
- There are several convenient options you can try to reload your prepaid card which includes direct deposits, buying reload packs, loading at your local retail store, making a direct deposit, adding funds directly from the card issuer’s company, or transferring the funds from your check account.
- There are no credit risks associated with using prepaid cards of any kind.
Prepaid Card Disadvantages
Of course, with everything, there is a good and bad to it. So, we’re now going to have a look at key disadvantages you should be aware of when you’re looking to explore prepaid cards:
- Most prepaid cards are not free to use and this means you’re likely to come across several fees associated with ATM withdrawals, charges for activating the service, and much more. This can increase charges that you’ll possibly encounter on gambling sites.
- Gamblers are offered less security when it comes to unauthorized charges associated with using prepaid cards.
- There is no FDIC insurance offered on prepaid card services and this means no guarantee of getting your money bank should the institution fail.