Identifying and Understanding Casino Transaction Fees and How They Impact Your Gambling Costs

Sometimes, online casino players are surprised to find that the winnings they receive following a withdrawal request don't match up to the full amount they entered on their withdrawal application form. If you're one of these players, it's probable you've been charged a transaction fee. While such fees aren't exactly hidden, they're often not well-publicised. If you'd like to know more, please read on.

Key Takeaways:

Spotting payment provider transaction fees

Spotting transaction fees levied by the online casinos themselves

Not all online casino money transactions incur fees. It can depend on several things, including the type of transaction, the payment method, the policy of the payment method provider, and the policy of the online casino, whether it's a MuchBetter casino, a PayPal casino, or some other type of casino.

Transaction fees are a tricky subject. It’s why we’ve called on the expertise of online casino analyst Emiliana Rostowicz to verify our research and explain the impact of fees on your gambling costs.

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Transaction Fees Relating to Online Casino Deposits

Most online casinos refrain from imposing transaction fees on deposits. Doing otherwise could put some players off, and casinos do not want to do that. Exactly the opposite is true. They want to attract as many new players to their platforms as possible. 

PayPal Online Casino

PayPal isn’t the cheapest E-Wallet in terms of management and transaction fees. Depending on your country of residence, transaction fees can apply anywhere between 1.2% to 2.9%, plus a fixed fee of 1.29%. 

Despite these fees, using PayPal as a payment method at a casino with PayPal listed on GHZD’s website remains popular with some gamblers due to its secure environments and attractive bonuses. PayPal is favored (a) because it is the longest-established e-wallet and (b) because transactions (deposits and withdrawals) are instant.

A Casino With PaysafeCard

One way of ensuring you aren’t charged a payment provider transaction fee when you make a deposit is to choose a casino with PaysafeCard. However, if your transaction involves currency conversion, you will pay a fee. Also, if you don’t use the full value of your PaysafeCard, you'll pay a 3 GBP monthly service fee on any residual balance from the 2nd month onwards. Most gamblers using PaysafeCard as a deposit method tend to use the full amount immediately. 

The other thing you need to be aware of is that you cannot use PaysafeCard for withdrawals.

Transaction Fees at a MuchBetter Casino

If you use a MuchBetter E-Wallet when depositing at a MuchBetter casino, it’s free unless you’re using crypto, which incurs a 2% fee. Withdrawals are also free except in the case of an instant bank transfer or crypto when a 2% fee will be levied. If currency conversion is necessary, MuchBetter will charge a fee of 0.99%. 

You also need to be aware that when you set up a MuchBetter account, they’ll charge a one-time 1 Euro fee for setting up your virtual IBAN. Also, if your MuchBetter account remains inactive, you could be charged a $5 (or equivalent) management fee.

Transaction Fees at a Skrill Casino

All transactions (deposits and withdrawals) at a Skrill casino made via a Skrill E-Wallet are transaction-free. There is one exception and that is if your transaction involves currency conversion, in which case they’ll charge a fee of 2%.

Why You Should Use the Same Payment Method for Deposits and Withdrawals

Online casino expert Emiliana Rostowicz insisted on our drawing the importance of using the same payment method for both depositing and withdrawing at online casinos to you. It’s not something that online casinos mention up front, whether it’s a PayPal casino, a Skrill Casino, or some other kind of casino. But if you withdraw money using a payment method other than the one you used for depositing, it’ll add time to the withdrawal process.

You can use different payment providers, but the casino you’re using will invariably send your withdrawal via bank transfer. 

Whereas E-Wallet withdrawals typically take 0 to 24 hours and credit card withdrawals 2/3 days, bank transfers take between 5 and 7 working days. Also, bear in mind that the casino's payment approval processing time (typically 2 days) is in addition.

Casino Transaction Fees 

When checking out a new online casino, it's not just the payment providers' transactions you need to be aware of. Casinos, too, sometimes charge transaction fees, and this varies from site to site.

Although casinos don’t normally charge transaction fees on deposits for reasons explained earlier, some will charge fees on withdrawals, particularly for small amounts. Another way that casinos try to ensure you don't take out small amounts too often is to impose a minimum withdrawal amount – a £10 or £20 minimum is the norm.

Transaction Fees Can Apply to Bonuses, Too

It’s also possible that transaction fees can apply to bonuses, too. So, before you claim a bonus, check to see which payment methods you can use to claim it. Casinos sometimes limit the bonus methods and providers they allow.

Always Read a Casino’s Terms and Conditions

To minimize unexpected costs and ensure a smooth gaming experience, always thoroughly review a casino’s terms and conditions, particularly the sections on deposits, withdrawals, and bonus offers. Trusted resources like GHZD’s website provide curated lists of vetted casinos, ensuring transparent policies, secure transactions, and competitive bonuses. Check the casino’s payment methods page to understand each provider’s fee structure, as some may impose charges for specific transactions or currency conversions, which can impact your overall gambling costs.

I (AKA CatBurg) have a lifelong passion for sports, especially football and basketball. I enjoy the thrill and excitement of sports betting and everything in between. My teams are (Packers #GoPackGo) and who I am betting on!