Choosing An Online Casino Deposit OptionBy: Mark Freedman, Thursday August 13th 2009
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Gone are the days when online casinos offered only a few deposit options. Today the best online casinos offer about a dozen deposit options. The increased options come with increased headaches because the problem now is a choice of plenty. The new player particularly needs to take his time and make a considered choice.
Though the player can choose from deposit options he cannot choose his country. His country of domicile is a given. The first factor the player needs to check is which deposit options are not functional in his country. These can be immediately knocked out. Today most online casinos are multi currency casinos. However not all players have a choice of currency. Usually players are constrained to wager in the currency of their country, if that currency is offered. Even if the players are offered a choice, it makes sense to choose the currency of their country. They will save substantial costs that are associated with currency conversions and this will more than neutralize any benefits that the other currency may offer. Not all deposit options function in all currencies. Hence the player must next eliminate all the deposit options that do not deal with his chosen currency. The balance list of options is the short list that he must deal with.
There are some deposit options that do not permit withdrawals. For example some credit cards do not accept withdrawals in some countries. If the chosen deposit option does not accept withdrawals then the online casino will usually remit requested withdrawals through a paper check. A few weeks could pass before funds are actually received in the player’s bank account. Hence the player must next eliminate deposit options that do not accept withdrawals.
If the player is left with both credit card options and alternative payment options then he must make the critical choice between them. There are advantages and disadvantages for both. This is not a straightforward choice because it will depend on the player’s wagering pattern and temperament. If the player wants to wager at many online casinos then it makes sense to choose an alternative payment method. That way the player will not have his credit card information on many servers across the Internet. He can fund the alternative payment method with his credit card and then fund any number of online casinos with the alternative payment method. Players in the United States have another reason for choosing an alternative payment option. Because of the tightening laws in the United States players are finding it difficult to fund their online accounts with credit cards.
There are some other factors that affect the choice of the deposit option. Despite offering a large number of deposit options, online casinos prefer that players choose from only a few. In order to encourage this practice the online casinos offer attractive bonuses on the selected deposit options. Players have to factor in these bonuses while making a choice.
There are indirect costs associated with deposit options. Though usually there is no charge for funding online casinos, there are other costs involved. There may be annual fees associated with the deposit options. Though these costs may not be significant, other things being equal, they need to be accounted for.
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