Online Casino Banking - Virtual Wallets

Published : 20th of July, 2006

Over the past few years "Virtual Wallets" have become a very popular way to complete transactions on the Internet. There are some great advantages in using one of these services for all of your online purchases including your deposits at online gaming sites. This articles covers everything you need to know about eWallets and how they work.

First, what is a virtual wallet?
A virtual wallet is in essence the online version of the wallet or purse you have in your pocket and is secure as Internet banking. When you want to make a purchase online you simply transfer money from your virtual wallet to a casino or a shop.

Why use a Virtual Wallet?
One of the most popular reasons is added security and peace of mind. You do not have to give your credit card details to every shop or casino that you want to make a purchase at. So the added security benefits are clearly there.

One of the best reasons to use one of the virtual wallet services for your online casino transactions is that most casinos offer special bonuses for players who use alternative deposit methods to credit cards. Plus more often than not you can get faster pay outs of your winnings paid straight back to your virtual wallet.

Note : When it comes to online casinos that we recommend the security issue is not so important because all casinos listed at All Online Slots feature state of the art encryption and security features for any type of purchase method.

However, if you are not comfortable giving out your credit card details then one of the services below is an ideal way for you to make purchases online with confidence. We highly recommend that you read on.

How does a Virtual Wallet work?
While not all virtual wallets work identically they all share the same principals. What you do is open an account at one of the services outline below, opening an account is always free. Then you simply fund your account via your credit card, via ACH, via direct bank transfer or by one of the other available methods.

Then when you want to make a purchase online you simply use your virtual wallet account number and details to make a cash transfer from your account to the casino or merchant. This way you only ever give your personal credit card or banking details to the one place.

Where do I get a Virtual Wallet?
There a several well known companies offering this service in essence they are all very much alike. We recommend that you visit the website of each company featured below and make your decision after perusing each site. Registering an account for the following services is FREE.

Pay Pal was at one point the most popular e-wallet for online casinos but when they were aquired by eBay they stopped processsing gambling transactions. The two most popular services at casinos at the current time are NETeller and Click2Pay. At least one and more often both of these deposit options are widely accepted at all good casinos.