When gambling online, there are a number of ways to retrieve money. These include a credit or debit card, or a payment processing service like PayPal.

It is not advisable to use a debit card as your details give somebody open access to your bank account. If the online casino site you are using is hacked and your card details are taken, all of the balance in your account will be at risk of getting withdrawn. Unlike with a credit card, you have no protection with debit card transactions. Be careful though when playing using a credit card, as it is possible to run up enormous debts if you get stuck in a losing streak. An acquaintance of mine managed to run up $100,000 worth of credit card debt playing online poker and was forced to sell his house. Whenever I tell that story, people usually wonder why he didn’t realise he was no poker genius at say $5000 and quit a little sooner.

PayPal and similar services offer the additional protection that you do not even need to leave card details, so there is no chance of hackers taking money or making payments that impersonate you. Check that your casino does not charge PayPal withdrawal fees before you choose this method. It’s also an option for more conservative gamblers if you choose to tie it to your bank account. That way you can only lose money you already have and not find yourself in debt. Of course you can still lose all the money in your current account, but if you do then you can take it as a lesson that the particular game you are playing is not right for you.

Overall, PayPal offers a better approach in terms of security and risk of debt. But if you are happy to take money you do not yet have for the glittering prize of a gambling fortune, then a credit card is for you.