The Impact of Payment Methods on Bonus Offers and Promotions at Online Casinos

It’s no secret that casino fans love a good bonus. There’s nothing quite like casino promotion offers to boost your bankroll and get you fired up for that next gaming session.

On the flip side, payment methods are seen more as a necessary tool than something to be excited about. You can’t get anywhere with online casinos without reliable online banking methods, of course, so it pays to pick one carefully.

As a result, most players rarely consider which payment method to use for casino bonuses. After all, most casinos grant users the same bonuses no matter how they choose to deposit, right?

To be frank – no. Not all casino payment options are equal when it comes to bonus deals and promos. This isn’t true for all casino sites, but our experience with the industry has taught us to pay attention to such details.

In this article, we’re going to explain how your choice of payment method affects bonuses. We’ll also offer some tips and tricks for picking the right banking method to get the most bang for your buck.

Payment Option Restrictions

One of the more common issues is whether deposits via a certain payment option can collect bonuses at all.

Generally, casinos indeed allow you to collect the bonus using any method you want. However, that’s not always the case, and you want to be careful while depositing. Once you pop that first deposit, there’s no going back. And you definitely want to make sure the deposit is eligible for (often sizeable) first deposit bonuses.

You can easily check this by simply reading through the site’s bonus terms and conditions. Restricted payment options are usually singled out.

One of the most common restrictions we see is put on e-wallets, for some reason. We can’t count the number of times we’ve seen gambling sites single out Skrill and Neteller as ineligible for bonuses.

We don’t really know why, either. The general consensus is that the user-friendly return policies of these services can be used to abuse bonus offers and deals. That’s merely speculation, but it doesn’t matter anyway.

The main takeaway here is to always carefully read casino bonus terms and conditions before committing real money. It may sound daunting, but bonus terms are rarely the massive, multi-page agreements people tend to associate with T&C contracts. Typically it’s just a few lines outlining limits, restrictions, wagering requirements, and other such details.

Remember – our casino reviews always highlight any terms that we find problematic, so reading them can make your life easier.

Processing Times

Transaction processing timeframes are usually one of the most important aspects of any online payment service. Some are quicker, some are slower, and some can bring your gaming experience down to a crawl.

But how does this affect casino bonus deals, you may be asking?

Well, let’s consider the case of good old bank transfers. Although there are modern services that exist to speed up bank transfers, the classic wire transfer remains by far the slowest way of getting your money to a casino. It has other advantages, of course, but bank transfer casino transfers rarely take less than 5-7 days. Waiting times are often even longer.

On the flip side, casino welcome offers are arguably the most sought-after form of bonus deal. As the name suggests, though, they’re intended for new users and new users only.

In many cases, the welcome deal can be used for your first deposit, no matter when you choose to make it. However, some terms and conditions enforce a time limit on how long you can wait around to collect it.

For instance, you may only be able to collect the offer within a week of registration. Such terms exist to protect casino operators from people trying to game the system.

Hopefully, you can see what we’re getting at. If you have a 7-day time limit to collect the bonus and your deposit takes 7+ days to process, you may end up missing out.

We realise that this is not a very likely scenario. Nevertheless, it’s something to keep in mind when picking a payment service for online gambling.

Bonus Limits

As you probably know by now, pretty much every bonus is also limited in the amount you can collect when you take advantage of it.

For example, pretty much every bonus out their says “Up to X”. We’re sure you’ve noticed.

However, did you know that some payment methods have different limits and rewards?

Although it’s not common, casino operators can offer bigger bonuses and higher limits if they wish to encourage players to use one method over another.

For example, a casino may award a 100% matched bonus up to $100 for one method, but 100% up to $200 for another. If you’re planning to collect as large of a bonus as possible, you choice of banking can be quite important.

In most cases these days, increased limits are offered for crypto payments. We’ve seen huge discrepancies between fiat bonuses and crypto bonuses on the same site. For example, regular first deposit bonuses typically go up to $100, or maybe a few hundred more. Crypto deposit bonuses, on the other hand, often go into the thousands, making them quite attractive if you can meet the wagering requirements.

The reason for this is simple – crypto payments have by far the smallest fees for online transfers.  The difference isn’t huge on our end as the user. However, on the vendor’s (casino’s) side of things, the differences can be massive. That’s why crypto-friendly casinos want as many people to use cryptocurrencies as possible and sometimes offer huge bonuses as an incentive for players to switch.

Conclusion

It goes without saying that picking a good payment method for online casinos is an incredibly important decision. That’s why CasinoPaymentOptions.com exists in the first place – we realize how difficult things can be for new players, and we want to help them out.

As we’ve explained above, bonuses are just one of many things impacted by your choice of which method to use. Keep these factors in mind and you can get more out of a casino bonus than ever before.