Payment Methods in Latvia

Choose a site that provides you with suitable and secure payments, and keep in mind that each casino has different requirements for making deposits or withdrawals. Let’s take a look at the different popular payment methods at online casinos in Latvia. The information provided may help you discover a new way to manage your bankroll even faster and more conveniently.

How to Know If an Online Casino Payment Method is Safe

Our team seriously and carefully analyzes all payment options. The analysis also takes into account the possibilities and requirements for obtaining a casino license in Latvia.

We also gather casino reviews from users on different sites. This way, we can find out if players encounter any problems and inform you about any issues in a timely manner. Casino user reviews are actually the most important factor because it’s an unbiased look at the casino site, and this is very important for us.

While we have been reviewing available online payment options to date, we feel particularly interested in exploring casino deposit and withdrawal options such as Skrill or Yandex Money, credit or debit cards, bank transfers, iDebit, or any other popular payment method.

We have drawn two important conclusions:

• Among the newest payment methods, e-wallets are the best option for casino deposits and withdrawals for the average casino user;
• Choose casinos that allow deposits and withdrawals in euros to avoid currency conversion fees.

Online Casinos That Use Secure Payment Methods

How to Make a Deposit Online Casino?

In most cases, the money is instantly credited to the casino account, but if you deposit by bank transfer, the process may take up to 2 days, as this deposit method takes the longest.

Adding funds to your account at the casino:

• Go to the payment section of the online casino site
• Select the option – Deposit Money
• Select the desired payment method
• Enter the amount you wish to add
• Confirm/verify the transaction

Why should I deposit money into my casino account?

Some online casinos offer no deposit bonuses and allow you to play demo casino games without signing up, but in most cases you will have to make a larger or smaller deposit to qualify for all the bonuses and features offered by the casino. Without making a deposit to the casino, you won’t be able to:

• Play live casino games
• Become a member of the casino VIP program
• Win real cash prizes
• Claim deposit bonuses
• Claim cashback bonuses

How Long Does it Take to Withdraw My Winnings?

Most casinos approve a withdrawal request within 1-2 days, but some casino sites approve it in just a few hours. If you are looking for the fastest way to withdraw your winnings, the best options are: e-wallets such as Trustly, Neteller or ecoPayz, which pay out money instantly, in just a few minutes.

How Do I Withdraw my Winnings From a Casino?

The casino website always has a “Cashier” or “Payments” section, where you can make money transactions at an online casino.

In some cases, additional security checks and identity verification may be required before withdrawing money. You may have to send additional documents for verification, as the casino needs to make sure that everything is legitimate.

We recommend that you confirm your identity already upon registration, so that when you want to withdraw your winnings, you don’t have to spend extra time doing it and you can get your money as quickly as possible.

Withdrawing money from your casino account:

• Go to the payment section of the online casino website
• Choose a withdrawal option
• Select the desired withdrawal method
• Enter the amount you wish to withdraw
• Confirm/Verify the transaction

Payment Methods
Credit / Debit cards	MasterCard, Visa
Bank transfer	SEB, Swedbank, Luminor, Revolut, Nordea
E-Wallet	Skrill, Neteller, Paypal, Paysafecard, Trustly, Paysera
Cryptocurrency	Bitcoin, Ethereum

Credit / Debit cards

Depositing funds by credit card is the most common method in Latvia. Most payments are made directly with Visa and MasterCard. It is used both to make the first deposit and to receive cash winnings. The main advantages of cards are their global accessibility from anywhere in the world where gambling is allowed, as well as one of the safest payment methods, because it involves banking systems, the security level of which is always maintained at the highest level. All Latvian-licensed online casinos accept card payments.

Credit card payments are credited immediately, so this is another reason why players use card payment options. Credit cards also often have lower payment limits, which means players can only deposit a few euros into their gaming account.

As for the disadvantages of credit cards, it is the time it takes to process payments. If the funds are deposited instantly, the withdrawal usually takes 1-5 days. For some players, this is the most important criterion when choosing an online casino, as they want to get paid much faster.

MasterCard

MasterCard is one of the largest and most well-known credit card brands in the world, which offers both debit and credit cards. Because MasterCard is used by so many people, it is also one of the most popular cards used in online casinos. Credit cards are used in most online casinos, and MasterCard is one of the most commonly used payment methods.

VISA

One of the main reasons for the popularity of VISA is its ease of using it. You can easily get a card at any bank. Even if you already have a VISA card, you can request another card, which can be used for gambling transactions, and it is a great way to keep track of your spending and winnings. For your convenience, VISA payments are instantly transferred to your casino account. This means that once you provide the necessary payment information, you can play your favorite online casino games.

Although VISA is one of the easiest and most well-known payment methods, as with credit cards, there is always some security risk. But such cases are usually very rare and can be avoided as well as quickly eliminated if you carefully choose the online casino you play at. Choose a proven and reliable online casino. If you accidentally lose your VISA card, take immediate action and block your credit card by contacting your bank.

Bank Transfer Option at an Online Casino

Bank transfer is still a popular method because almost every player has a bank account, which does not create additional problems for depositing or withdrawing money. Although the process may take some time since you have to log into your bank account, the payments themselves are made instantly through Swedbank, Luminor or any other bank.

The main downside is the processing time, which usually takes 1-5 business days, and the payment process itself is quite complicated. However, there are more and more online banks that offer a full range of online banking services, such as Revolut.

SEB

SEB banka Latvija is a reliable and well-known bank. So it goes without saying that payments via SEB internet bank are available in Latvian online casino sites. The casino is trying to accommodate players’ needs and attract them to its website through the payment methods offered. So if you are a client of SEB bank, you do not need to worry whether or not payments from your SEB account will be possible at the online casino.

Luminor

Luminor is a modern new generation bank providing financial services in Latvia, Estonia and Lithuania. That’s why we can also find Luminor as one of the payment options in online casinos. All you have to do is choose which online casino to play at, and you can safely use your Luminor bank account to make payments.

Swedbank

Payments in Swedbank online bank will be available to those players whose bank account is opened directly with Swedbank. All you need to do when making a deposit or withdrawing money, for example from SynotTip or Pafbet online casinos, is link your player account to your online bank. It’s as easy and convenient as shopping online or making any other payment online.

Revolut

Revolut is something between a phone app, bank card and payment card. With Revolut you can transfer money to other Revolut users in just seconds, make bank transfers, shop online or in stores with your Revolut payment card. Plus, no fees or annual card fees.

Revolut online payment system has gained huge popularity in Latvia and all over the world. It is especially used by young and middle-aged people, as well as those who travel frequently. For many, it has become the main way of payment. If previously this payment method was not available, now you can make deposits and withdrawals using Revolut in many online casinos, such as Laimz, Optibet and others.

E-wallets and the Use Of E-wallets in Online Casinos

Digital wallets or e-wallets are the payment method of choice for an increasing number of today’s Internet users. The most popular e-wallets in the online casino environment are Skrill and Neteller, which are currently offered as a payment method by many online casinos in Latvia as well.

Advantages of e-wallets

• Deposits and payments are made instantly. The balance will be replenished as soon as you deposit, and payouts, compared to other methods, are made within 24 hours.
• There is no need to link your bank account to your casino account. This helps protect personal information in the event of a data breach, as your personal bank account remains intact.
• A great way to quickly and easily transfer money from one casino account to another. Since the money arrives in your e-wallet very quickly, you can make a withdrawal from one casino and transfer that money to another casino within 24 hours.
• Some online casinos, such as Gratorama, have special offers or casino bonuses for players who make transactions using e-wallets as well.

Online Casinos That Accept E-wallets

Skrill

Skrill – a very popular e-wallet, which you will find in almost all online casinos. It does not matter whether it is a Latvian or foreign casino. The main advantages are the convenience and security of payments. You can send or convert money to more than 40 currencies worldwide using your online account or mobile app. This payment method allows you to pay online, send money to other Skrill accounts, buy and sell cryptocurrencies and receive a Skrill Mastercard, which you can use to pay for services or withdraw money from ATMs.

One of the main reasons for Skrill’s popularity is the speed of money transfers. Whether you’re paying or receiving money, it’s credited to your account instantly or within minutes. Security is definitely an advantage of Skrill as well. Using this e-wallet, you won’t have to disclose your bank account information. Skrill has also added extra security measures – it has an SSL code, and in order to make payments, all you need is your wallet number.

Neteller

Neteller is very similar to Skrill e-wallet, their services are the same. If an online casino offers Skrill as a payment method, it is very likely that you will also be able to make payments using Neteller. Netteller also offers its MasterCard, which gives you access to funds anytime, anywhere in the world to pay for various services and ATM withdrawals.

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PayPal

PayPal in Latvia has become one of the most popular ways to pay online. Since its founding in 2000, Paypal Latvia has established itself as a reliable, convenient and very fast payment option, which is also popular among players around the world. One of the biggest advantages of Paypal is its convenient use. After creating a Paypal account in Latvia in order to make money transfers using Paypal, you only need to enter your email address and Paypal password. Paypal’s quick deposits and withdrawals are really pleasing to every online casino player, especially if you’re used to using other payment methods such as bank transfers, which often take several days.

Paysafecard

Paysafecard is also a payment method that can be used to deposit money into your online casino account. It is an easy and secure way to make online payments without a credit card or bank account. All you have to do is buy a Paysafecard worth 10, 25, 50, 75 or 100 euros. You can then use it to make payments in thousands of online stores and online casinos by entering your 16-digit PIN code.

Trustly

Trustly is a Swedish financial company founded in 2008. Trustly is a form of payment that allows you to shop and pay from your bank account online without using a card or app. Trustly provides its services through PayPal and TransferWise. You do not need to provide personal information to make a payment, just the username and password of your online bank account, PayPal or TransferWise.

Trustly ensures that you can make fast, easy and secure online payments between your bank and other banks, as well as payments related to online shopping, money transfers to friends and payments to online casinos.

Among online casino payment methods, Trustly is now very popular and can be used in almost all casinos, such as Vulkan Vegas and Mr.Green. One of the biggest advantages of using Trustly is that there is no additional fee for making a deposit via bank transfer in an online casino. There are also advantages for withdrawing money – this option is always available.

Trustly is a licensed payment system, authorized and supervised by the Swedish Financial Supervision Authority. And it is licensed as an European Payment Service Provider (PSP) under the Payment Services Directive.

Paysera

Paysera is a licensed payment institution in Lithuania authorized and controlled by the Bank of Lithuania. It is an e-wallet payment method available mainly in Latvia, Lithuania and Estonia.

Using Paysera IBAN account you can quickly and easily transfer money in more than 30 currencies all over the world. Transfers within Europe (SEPA) are free for retail customers.

Paysera does not apply any restrictions on the amount of payment and you have unlimited and free instant transfers available 24 hours a day.

To open a Paysera account, all you have to do is download the app, enter the required information, and verify your identity. You can also request a VISA card, which can be used for withdrawals at all ATMs that accept Visa cards. The card can be easily ordered and managed through the mobile app.

Using Cryptocurrency in Online Casinos

Cryptocurrencies allow players to remain anonymous, provide fast payment processing times, and in most cases, do not charge additional fees. By choosing cryptocurrency as a payment option at online casinos, you are guaranteed complete “transparency”. This is another advantage online casinos have over land-based casinos.

Bitcoin

Compared to other payment platforms and methods, no one controls or monitors Bitcoin-related payments. You can make payments online and pay for goods and services using Bitcoin anonymously.

Bitcoin cryptocurrency is relatively cheaper to use because Bitcoin is not controlled by any institution or corporation. While credit cards and e-wallets can charge fees, Bitcoin payments either charge no or minimal additional fees.

The ability to be anonymous or pseudonymous is based on the fact that you do not reveal any personal information about the bitcoin addresses you use. If you publish your bitcoin address online, you associate that address and all transactions associated with it with your name. If you used an address that is not associated with your true identity, you are still an alias. For greater privacy, it is better to use bitcoin addresses only once.

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Ethereum

It is the second most popular cryptocurrency in the world. It is also one of the payment options for cryptocurrency, which can now be found in many online casinos. While previously only Bitcoin could be seen everywhere, other cryptocurrencies are becoming more and more available.

Ethereum as a payment method allows players to enjoy anonymity, fast payment processing times and, most importantly, in most cases, no additional fees.

Frequently Asked Questions