Best payment methods for online gambling in Finland in 2023

People are playing online more than ever before. The number of gaming sites and games available is growing every year. As gaming has become more widespread, the range of payment methods for games has also diversified. The number, reliability and security of online gambling payment methods have evolved enormously, especially over the last decade.

Three factors in particular contribute to the popularity of payment methods: their reliability, speed and ease of use. In this article, we look at the most popular payment methods for online gambling in Finland in 2023.

Mobile payments

Mobile payments are a very popular payment method, both for online shopping and for various mobile apps and brick-and-mortar stores. Mobile payments are popular because they are convenient and easy. Mobile payments do not necessarily require bank IDs or a bank account and are conveniently done through an app.

With the rise of mobile gaming, mobile payments have also become part of the gaming world. Mobile payments on online gaming sites can be made using either a simple phone number or an online bank. Mobile payments via bank IDs are offered by payment services such as Trustly, Zimpler and Euteller. Another option is to make a deposit using just your phone number. In this case, the amount deposited is added to the next phone bill. If you have a prepaid account, the purchase will be deducted from the remaining balance.

The most popular and widely used mobile payment method in Finland is MobilePay. MobilePay is a mobile payment application that is connected to your phone number and payment card. MobilePay works for customers of all Finnish banks and can be used to pay both online and in physical shops. You can send and receive money through MobilePay. The MobilePay payment method at online casinos is expected to become more widespread in the near future.

Payment services

No-registration casinos, also known as instant casinos and pay n play casinos, have made the use of payment services a common option for online gambling. As the name suggests, no-registration casinos do not require the player to create an account and a username. Instead, login and authentication to the casino is done using Finnish online banking credentials. However, the player is not left without an account, as it is automatically created upon online banking login and first deposit.

Logging in to the online casino using bank credentials, as with many government services, for example, is safe and secure, and practices are constantly evolving. Similarly, deposits and withdrawals are made via online banking.

In practice, payment transactions between the gaming site and the player are mediated by a payment service such as Trustly, Brite, Euteller or Zimpler. The payment services transmit the financial transactions and the data in the financial transaction between the gambling site and the player's bank. Trustly, Brite and Zimpler are Swedish payment services, while Euteller is a domestic service. All three are trusted payment services widely used on sites aimed at Finnish players. In addition, the payment method is secure, as the above payment services are supervised by either the Swedish or Finnish Financial Supervisory Authority.

Online banking is one of the most popular payment methods used by online casinos to transfer money. Money transfer via payment services and online banking is very fast; deposits are instant and withdrawals can be made to your account within minutes at best. As the player is already identified when making the first deposit, there is no need to provide the online casino with any documentation to verify identity. However, in the case of withdrawals of larger amounts, online casinos are obliged to verify the identity of the player at the time of withdrawal.

Online wallets

Online wallets are a widely accepted and widely used method of transferring money online. Using an e-wallet is safe and easy: either a credit card is linked to the wallet or money is transferred from a bank account to the wallet, which can then be deposited into the player's account. Payments made through e-wallets are subject to two-factor authentication and one-time PIN codes. An e-wallet makes it easy for players to keep their gaming money separate from other money if they wish.

Online wallets also act as an intermediary for transfers between the gaming site and the player. In this way, the player's personal or payment details are not shared with the gaming site. With e-wallets, money transfers take place in real time, which means that they are fast, both in terms of deposits and withdrawals. Deposits are instant, but withdrawals can take up to a few days, depending on the wallet. If you choose an online wallet as your payment method at an online casino, you should be aware that there may be a fee for transferring money between your online wallet and the casino.

Some of the most popular online wallets include Neteller, Skrill and PayPal. They are available as an app, which makes them easy to use on mobile devices, and they are not among the apps that consume a lot of power on your phone. Although PayPal is generally the most used online wallet for online purchases, it is not the most common option in online casinos. Neteller and Skrill, on the other hand, are widely used in online casinos. Both Neteller and Skrill require registration of a user account, after which money can be transferred to the wallet. Money transfers are verified using the service's own credentials.

Debit and credit cards

Almost everyone has some form of payment card. Many people are familiar with using debit and credit cards online, as they are used to making online payments. Many online casinos also accept the most popular debit and credit cards, such as Visa and Visa Electron, MasterCard and Maestro.

Visa Electron is a debit card without the possibility of paying by credit. Visa, on the other hand, is a globally used credit card with the added security of Verified by Visa. Like Visa, MasterCard and Maestro are also reliable credit cards used worldwide. MasterCard's additional security is called SecureCode. For credit card payments, it is common practice for players to confirm the transaction, in this case a deposit for gambling, in a secure context using their own online banking credentials to ensure a secure transaction.

However, not all online casinos allow cards to be used to withdraw winnings, i.e. they can only be used to make deposits. With debit and credit cards, deposits are generally fast, but withdrawals may take a few days. The speed of withdrawal depends on how quickly the casino processes withdrawal requests and which bank card the player has. In addition, before using a debit or credit card at an online casino, you should check whether there are any fees. Any fees associated with the use of a card are casino-specific.

Wire transfers

Wire transfers via online banking are the preferred method of payment for Finns online. Many people also use this option at online casinos. Wire transfers can be used for both deposits and withdrawals. One of the good things about wire transfers is that, in general, gambling sites allow higher deposit and withdrawal limits, as transfers via online banking are considered safe.

There is no need to log in to any third-party service to make a transfer, so they are simple. However, not all gambling sites accept direct transfers and all transfers via online banks are made through a third party payment service. Examples of this are the payment services mentioned earlier, Trustly, Zimpler, Brite and Euteller.

Paysafecard

Prepaid payment cards, such as Paysafecard, are an accepted payment method for online payments, including many online casinos and other online purchases. Paysafecard is a prepaid virtual debit card that works in the same way as prepaid phone cards. You can load a desired, but limited, amount of money onto your Paysafecard, from which you can transfer money to your own account. You do not have to transfer all the money on your Paysafecard to your account at once.

The advantage of Paysafecard is its anonymous nature and its security: you do not need to open an account to use the card; you can buy it, for example, from kiosks. Paysafecard also has the advantage of a limited amount of money that can be loaded onto the card, from which you can transfer the desired amount of money to your account - making it easy to monitor and manage your bankroll.

Cryptocurrencies

Cryptocurrencies are digital currencies based on blockchain technology and cryptography. Cryptocurrencies are becoming increasingly popular for online payments. Cryptocurrencies are not yet a mainstream payment option, but they are accepted as a means of payment in some online shops and online gambling sites, including online casinos.

There are already thousands of different cryptocurrencies, but the most well-known and popular ones are generally accepted as payment, such as Bitcoin, Ethrereum, Litecoin, Dogecoin and Ripple. As a rule, to pay with cryptocurrencies, you need a virtual crypto wallet to pay and receive cryptocurrencies.