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WebMoney is an e-wallet service launched in 1998 in Moscow, Russia. Although it startedfocusing on the Russian market, it now claims 43 million users from several other countries, primarily ex-Soviet nations. Since it has been around for several years, the number of casinos that accept it as a deposit and withdrawal method has grown steadily.
If you have never used WebMoney as an online casino payment method before, you may want to learn more about the pros and cons of using WebMoney at casinos, whether it is safe to use, and whether there are any fees for using it. In this article, you’ll find details of how it operates and the platforms where you can use it.
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WebMoney was founded back in 1998 in Moscow, Russia, during the time when the entire country was undergoing a financial crisis. In fact, it started out as a way for US dollars to be transferred within Russia, in a period when the currency was seeing increased usage within Russia.
In the years that followed, WebMoney became a convenient payment method, not only for Russian players but also for other users in Eastern Europe and Central Asia.
In November 2015, WebMoney Europe Limited, which is based in Cambridge in the United Kingdom, was granted a licence by the Financial Conduct Authority (FCA). This allowed it to start issuing e-money within the European Economic Area (EEA).
So, what exactly is it? WebMoney is an e-wallet where you can keep track of your funds, and make secure transactions, among various other functions. You can t ransfer funds to your WebMoney account, and use it to make deposits or withdrawals at an online casino whenever you wish to do so.
WebMoney provides users with a quick and safe way to make payments at any online gaming sites which feature it as a payment method. Furthermore, anyone with a WebMoney account can apply for a physical or virtual Visa or MasterCard, and this can be used exactly like a normal credit or debit card. There are many benefits to it, including the capability of depositing with a safe and secure method, as well as the fact that it sends funds along instantly.
It’s also compatible with mobile casino sites, so if you prefer gaming on the go, then there aren’t any restrictions in this situation.
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It’s very simple to deposit at an online casino with WebMoney. First of all, you need to be registered and logged in at a casino that provides such a method of payment for its users. Then, you need to visit the cashier page and select WebMoney as your preferred payment method. From then on, all you have to do is:
- Enter the amountthat you want to deposit at the casino site.
- Enter the necessary details in the WebMoney login page which comes up.
- Confirmyour payment. The funds will be instantly transferred from your WebMoney e-wallet.
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One of the largest downfalls of using WebMoney for funding your casino account is that it’s not free to use. While most online casinos don’t ask for any fees when it comes to processing deposits, WebMoney has a default service charge of 0.8% of the amount you’re depositing.
Additionally, if you have a Visa or MasterCard that is connected to your WebMoney account and you decide to use this to make your deposit, you’ll be charged a 2.5% fee, with a potential maximum fee of €50.
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Most online casinos supporting the WebMoney payment method for deposits will also allow players to withdraw through this method, too. Again, you’ll be charged a 0.8% transaction fee by WebMoney. Processing timeframes depend on the casinos – withdrawals can be completed instantlyor in up to 10 business days.
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Which are the best online casinos that accept WebMoney? Check out the top 5 WebMoney casinos below.
| No. | Online Casino | WebMoney Deposit | WebMoney Cashout |
|---|---|---|---|
| 1 | 20 Bet Casino | Yes | Yes |
| 2 | Mobile Wins Casino | Yes | Yes |
| 3 | Casinozer Casino | Yes | Yes |
| 4 | GGBet Casino | Yes | Yes |
| 5 | 888 Casino | Yes | Yes |
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It's worth it to weigh up the pros and cons of any banking method you can use at an online casino. We've laid out the main benefits of using WebMoney, as well as reasons why there might be some downsides to using this payment option.
- Safe and Secure
- Information is protected
- Instant Transactions
- Quick withdrawals
- Some fees
- Many options can be a little confusing
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Most casino sites will offer their players the possibility of receiving a casino sign up bonus or an ongoing reward as a regular player. This will not, in most instances, be specific to WebMoney users, though. Instead, the bonuses usually cater to all players at the casino site, as this allows them to reach a wider audience.
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Russian WebMoney users can get in touch with WebMoney by emailing [email protected] or calling +7 (495) 727-20-07. If you are a WebMoney client who is based in Europe, you can can contact customer support by emailing [email protected] .
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WebMoney is available at many casinos, but it isn't available at all of them. Check out our top-rated similar payment methods below for other options that you can try.
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WebMoney has now been operational for over 20 years, which should give you some indication as to how trustworthy it actually is. Because it operates as an e-wallet, all of your transactions to an online casino can be considered anonymous and secure.
This means that you won’t be exposing any of your personal and private details to the site. Furthermore, the brand has expanded across Europe and other areas of the world, and has been accepted by the EEA as a route towards issuing e-money.
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WebMoney is a practical and convenient payment method and has a huge userbase especially in Russia, Eastern Europe, and Central Asia. It wins points for being fast and secure, but it also comes with fees attached for every transaction you make. If you don’t mind paying the additional surcharge associated with WebMoney transactions, we can recommend it as a suitable casino payment method.
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WebMoney Europe Ltd holds an FCA licence which allows it to issue e-money within the European Economic Area. Its European headquarters can be found at 7 Portugal Pl, Cambridge CB5 8AF, United Kingdom.
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Here are some of the most common questions and answers about using WebMoney at online casinos.
Can I use WebMoney at online casinos?
Yes, WebMoney has been used at online casinos ever since it was launched back in 1998.
Is WebMoney free to use to gamble?
Unfortunately, WebMoney isn’t a free service. You will be charged a service fee of 0.8% on every transaction you wish to make through it. Furthermore , Visa and Mastercard payments through WebMoney have a fee of 2.5% attached to them.
Where is WebMoney Most Popular?
WebMoney started in Russia, and Russian users still make up over 76% of its users. It has also become a popular payment method in Ukraine, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Uzbekistan, and Turkmenistan.
References
- WebMoney (Official Website)
- WebMoney gets European e-money license (FinExtra)
- Financial Conduct Authority (Financial Authority)
Reviewed by Julia Attard
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