Modern online gambling sites have significantly expanded their support when it comes to payment systems. Nowadays, it’s possible to gamble using crypto-wallets, P2P payment systems, mobile wallets, and other methods. Players rarely use the so-called direct deposits when they gamble, which is, in many respects, a prudent decision.

However, this isn’t necessarily an ideal choice. After all, if you are a casual player who enjoys playing on 10 dollar minimum deposit casino sites, you might find some of the other payment methods expensive. Other payment methods tend to have higher fees, and if you only play on a budget of $10, then spending $2-$5 on processing fees is kind of lackluster.

Here we will explain what are the main benefits of using direct deposit and why many players still use them. 

What Is Direct Deposit in Online Casinos?

Let’s first explain what direct deposits are to begin with. In essence, if you deposit directly from one bank account to another, that is considered a direct deposit. So, when you use your debit or credit card or even e-checks that are directly tied to your bank account, you are making a direct deposit. So you might ask –  what are the benefits of using direct deposit? Well, you aren’t using an intermediary to process that payment, so the processing fees are lower, and it doesn’t stop there.  

Speed of Transactions Compared to Other Methods

So long as you are relying on card payments, the speed of transfer should be comparable to other e-wallets and digital banking apps. Therefore, the money should be visible on your balance within minutes. That said, if you were to rely on ACH or e-checks, the processing time will probably be 2 business days. Obviously, this isn’t ideal if you planned on gambling right at that moment. 

Security and Fraud Protection Features

Cards and e-banking apps have a great protection program and give you the ability to enhance the security through 2FA. Additionally, credit cards have a credit back policy that allows you to cancel payments within 60 days or more. So if someone else has made a deposit to your account, you can still get your money back. This feature isn’t available on any other payment method.

However, players are still not comfortable with leaving their main cards or bank account information on the site. Why test the safety features when you can use alternative methods that aren’t tied to that account? Scam emails, phishing scams, and scam calls have become so prevalent these days that people don’t want sensitive information online at all if possible.  

Lower Fees and Transparent Processing

There are many companies or services that you can use that act as intermediaries in online payments. Interac, ApplePay, GPay, or even eWallets like Skrill or PayPal. These intermediaries charge fees for the extra layer of protection, whereas with e-wallets, you need to add funds to those accounts in order to use them. Overall, the processing fees end up being higher. 

Now, if you are using crypto payments, then processing time will be faster and fees will be lower. However, whenever you try to turn crypto into fiat, there will be exchange fees, and due to the volatile nature of cryptocurrencies, it’s not the wisest decision to maintain balance in these alternative coins. 

Compatibility with Casino Withdrawal Policies

Out of all the benefits we listed so far, this one is the most important. Casinos need to do KYC checks in order to verify your account and source of funds. So, using a direct deposit method and designating your bank account for cashouts speeds things up a lot. You can get your account verified quicker, which means your cashout requests will be completed within a day or so. 

Usually, when gamblers play online and use vouchers or other methods to add funds, they need to wait for a few days for their account to be verified. This can feel frustrating when they decide to withdraw their winnings and have to wait for over a week until everything is complete. 

When Direct Deposit May Not Be Ideal

Hopefully, this fully explains – what are the benefits of using a direct deposit. But we should also talk about potential drawbacks. Casino sites might be targeted by cyber criminals, this has happened multiple times in the past. So, leaving sensitive information is not a good idea. Additionally, if you play on smaller sites that aren’t regulated locally it isn’t prudent either. Consumer protection laws are impossible to enforce, and nobody guarantees that they aren’t selling your data to another data broker.

Other than that, direct deposits aren’t a bad idea. If you play on a local site that adheres to regulations and that can be held accountable, you should be fine. Also, even if someone gets your info, 2FA and other security protocols make it difficult for them to steal your funds.