Banking Options for South African Players in Live Dealer Casinos

Driven by continuous technological advancements and an desire to experience the thrill of playing casino games online, the iGaming market of South Africa has established itself as one of the fastest growing ones. The number of live dealer casinos that accept players from South Africa is growing at a rapid pace, giving consumers countless options to choose from.

Although games and bonuses are the ones that capture players’ attention, they are not the only aspects that need to be analyzed. Banking options for South African players in live dealer casinos truly are abundant, so in order to evaluate which one suits them the best, consumers need to get to know them better.

Credit and debit cards, cryptocurrencies, EFT payments, e-wallets and vouchers represent the most commonly selected methods in online casinos in South Africa. Each of them has its own pluses and minuses, and that’s precisely what this convenient guide is about to address, so keep reading!

Credit and Debit Cards at SA-Friendly Online Casinos

For those looking for convenient yet familiar payment options in South Africa, credit and debit cards represent the best choice for deposits and withdrawals in online casinos. VISA and MasterCard are the most popular choices not only among South African players but all over the world.

An important difference consumers should be aware of is that with credit cards, they use money provided by the bank or other financial institution. When using a credit card, they gamble with the money that they already have in their bank account.

Some of the pros players often point out when using cards is the simplicity of procedure. Debit cards have no interest and they limit players to use funds they have, which, in a way, promotes responsible gambling. Credits cards offer high level of security.

On the other hand, the main disadvantage of credit cards is that they let people gamble with money they don’t actually posses. Fees for credit cards use can sometimes be notably high. Pending and processing time for withdrawals can be lengthy when using cards.

Are E-Wallets Popular Among South African Players?

South African players looking for a more modern alternative to cards in live dealer casinos usually opt for e-wallets, as they allow immediate access to their funds without much waiting. Certain methods work for deposits only, the others are suitable for both types of transactions.

Some of the most commonly selected e-wallets include Skrill, Neteller, payz, PayPal, Luxon Pay, PayDO, and many more. Operators focused mainly on the South African market can offer some country-specific options such as AfriWallet, SavannahPay, and LionCash.

Instant and near-instant transactions completed either in up to 15 minutes or within a day represent one of the key advantages of e-wallets in live dealer casinos that accept players from South Africa. Other than this, players love them because they don’t require them to share bank or card details. Plus, they are widely used across numerous platforms.

However, what some may find disadvantageous is the fact the use of e-wallet requires creation of another account. In addition to this, some e-wallets charge commission on deposits and withdrawals, and they also charge currency conversion fees.

Wide Array of EFT Payment Options in South African Casinos

EFT stands short for an instant electronic funds transfer payment service and it allows a player to make secure online payments directly from their bank accounts. The transfer of funds is facilitated either within a single institution or across multiple institutions.

Among the most popular options in South Africa is SiD, which enables direct charge from a bank account with no fees, and EasyEFT which works the same way, but with fees. Other EFT payment methods in South African live dealer casinos include Instant EFT, SwiffyEFT, AvoEFT, Smart EFT, PayGuru Instant EFT, MyEFT, EasyWire, Ozow and so on.

Players love EFT because it is extremely convenient, meaning it can be used anytime and anywhere, even on mobile devices. Transaction is processed quickly, most often instantly. Thanks to encryption and other security measures, payments are safe and secure.

As for the downside, most of EFT payment methods are suitable for deposits only, meaning an alternative must be used to cash out. Not all the banks are supported, and the limited number of South African casinos support this banking method.

Cryptocurrencies for Deposit and Withdrawals in SA Casinos

Providing a high level of security and anonymity, cryptocurrencies have gained extreme popularity among South African casinos as well. Available for both deposits and withdrawals, they provide lots of flexibility.

Bitcoin, Ethereum, Litecoin, and Dogecoin are just some of the many cryptocurrencies players have at disposal when visiting SA-friendly live dealer casinos.

Anonymity and efficiency aside, the fact that crypto is suitable for both types of transactions is one of its biggest advantages. So is the fact that it often comes with no additional fees.

Yet, a growing number of crypto-friendly casinos requires players to complete KYC procedure, which not only bids farewell to anonymity, but slows down the transaction processing. Crypto values can fluctuate significantly.

It is not possible to set deposit limits when using crypto, which makes this method not so wise choice for consumers who have troubles managing their spending habits.

Are Vouchers Good Choice for South African Players?

Payment vouchers have gained lots of popularity due to enabling users a much better control over the accounts payable and the overall payment process. In online casinos, prefilled vouchers are used for deposit, creating some sort of separation between online activities and bank account.

Some of the most popular vouchers in live dealer casinos that accept players from South Africa include Flexepin, Jeton, CashToCode, OTT Voucher, 1ForYou Voucher, Blu Voucher, and so on.

Just like with debit cards, with vouchers players get to spend the funds they have, which certainly is one of its biggest advantages. There’s no need to share personal and financial details, so no fear of data breach and similar threats associated with online payments.

As for the downsides, the same thing as with EFTs- they don’t work for withdrawals. Also, they are purchased from authorized retailers only, so obtaining one is not always quite simple. Mind that some vouchers may have an expiration date.

What to Take into Account When Selecting a Payment Method?

Getting to know which payment methods are supported at an online casino is just one of the steps to take, there’s more. Before funding your casino account, make sure to find answers to the following questions:

  • Is the selected method suitable for both deposits and withdrawals, or it works for one type of transactions only?
  • What’s the minimum and maximum for deposits and withdrawals on a daily/weekly/monthly basis or per transaction?
  • Does the operator charge processing fees?
  • What’s the pending and processing time for transactions?
  • Does the selected method work for bonuses?
  • Is ID verification needed when depositing/ withdrawing?

 

Once you answer this, you will be able to evaluate which payment method works the best for you. Enjoy exploring the best live dealer casinos for South African players & gamble responsibly!