WebMoney Casinos

WebMoney Facilitates Quick and Secure Online Gambling Transactions

Launched in 1998, WebMoney is a digital wallet service used by more than 45 million customers in over 90 countries. The method has also gained traction in the online gambling community as it facilitates effortless, time-efficient, and largely anonymous transactions. WebMoney has found its way into the cashier systems of multiple online casinos, allowing for seamless deposits and withdrawals to and from your real-money balance.

The method works similarly to other e-wallets like PayPal, Skrill, and Neteller. This means players must register and verify their accounts to gain access to the platform’s full capabilities. Once registered, they must transfer some funds to their e-wallet balance before they can deposit with it at their preferred online casinos. Players can do so directly from their online banking accounts, bank cards, and retail cash-in terminals, or by using several cryptocurrency exchanges.

WebMoney offers multiple benefits to online casino players, including instant deposits, highly secure transactions, and full mobile compatibility. There are several drawbacks to using this method for online gambling transactions, which we also tackle in this article. Read on for further information on how to use WebMoney for casino deposits and withdrawals.

Pros and Cons of WebMoney Casinos

Pros:

• Available in over 90 countries worldwide
• Accepted by an increasing number of online casinos
• Ensures safe and anonymous transactions
• Supports multiple top-up options
• Suitable for deposits as well as withdrawals

Cons:

• Players may incur additional fees
• Not as broadly available as Skrill and Neteller
• Requires setting up an e-wallet account

Banking

Your WebMoney account is run in gold equivalents (WMG), US dollar equivalents (WMZ), ruble equivalents (WMR), Euro equivalents (WME) or hryvnia equivalents (WMU). WebMoney is routinely accepted at many of the top online casinos. These units are tokens used within the WebMoney system to indicate the ‘real’ money equivalents to the users’ balances. For example, a balance of WMZ 100 is equal to $100. Basically, these tokens can be considered a separate currency of their own, pegged to their ‘real’ equivalent at a 1:1 ratio. WebMoney has a list of guarantors for each WM equivalent unit, proving that the company can match every WM unit issued for fiat money when the time comes.

There are several ways you can acquire WebMoney units for your balance. These include paying cash at a retail location, using a credit or prepaid card, depositing via ATMs, bank wire transfers, mobile payments, and other similar services. The available funding methods vary for each WM unit type, with the most options available when purchasing WebMoney Rubles. Purchasing certain WM units can incur a commission charge, usually within the 0.5% to 4% range, depending on the funding method.

WebMoney units can only be purchased and used within the WebMoney infrastructure and cannot be used anywhere else. Units can be transferred only between users who have verified their accounts with WebMoney.

Limits, Fees and Supported Currencies

WebMoney uses a different banking model than other online payment solutions and, as such, it is not limited by the same rules and regulations. This is reflected directly in how much money users can transfer at any time. Whereas certain e-wallet services will only allow you to transact up to several thousand per month, WebMoney gives users far more leeway when it comes to making transactions.

There are four different limits regarding how much money you can store in your WM purse. If you have not verified a phone number, the maximum amount that you can store in your WebMoney purse is $200 or its equivalent in other currencies. If you have verified a phone number and can receive confirmations via SMS or ENUM, then your purse limit will increase to $600. For holders of the ‘initial passport’ (a level of verification), the limit is raised to $12,000, while those with a ‘personal passport’ can have up to $120,000 in their WebMoney purse.

WebMoney supports a wide range of fiat currencies and their WM equivalents. More specifically, you will be able to open a purse in:

• Russian Rubles, with a WM equivalent token of WMR
• Euros, with a WM equivalent token of WME
• Belarusian Rubles, with a WM equivalent token of WMB
• Ukrainian Hryvnia, with a WM equivalent token of WMU
• Vietnamese Dong, with a WM equivalent token of WMV
• United States Dollars, with a WM equivalent token of WMZ

Moreover, WebMoney also supports purses for certain commodities such as gold and cryptocurrency. More specifically:

• G-Purse – a purse for exchange-traded gold in certified storage, with a WM equivalent token of WMG
• X-Purse – a purse for storing Bitcoin, with a WM equivalent token of WMX
• H-Purse – a purse for storing Bitcoin Cash, with a WM equivalent token of WMH
• L-Purse – a purse for storing Litecoin, with a WM equivalent token of WML

In terms of transaction fees, each payment is charged a 0.8% commission that can be no less than 0.01 WM units (for payments in WMV – no less than 500 WMV) and has upper limits. More specifically:

• 50 WMZ
• 50 WME
• 1,500 WMR
• 250 WMU
• 100 WMB
• 2 WMG
• 5 WMX
• 30 WMH
• 1,000,000 WMV
• 9,000 WMK

Withdrawal Options

When it comes to withdrawing your WebMoney balance, you will find that you have a variety of options at your disposal. These include withdrawals via bank transfer, to a credit or debit card, by post, or through exchange points.

Each method comes with its own set of fees and commissions, which vary between the different currencies and the method in question. For the most part, fees do not exceed 3.5% per withdrawal. Moreover, withdrawals in RUB enjoy quicker processing times and lower fees.

Using WebMoney for Gambling Transactions

Using WebMoney to fund your online casino balance is not difficult, and the process takes only a few seconds. Once you have opened an account with the gambling website, simply go over to the ‘Cashier’ page and select WebMoney from the deposit options. After that, enter the amount you wish to deposit and the relevant login information. After you confirm the transaction, the money will be immediately transferred to your casino balance, allowing you to start playing your favorite games right away.

When you are finished with a gambling session and would like to withdraw your balance from the online casino back to your WebMoney bankroll, the process is similar. Open the ‘Cashier’ page, select WebMoney from the supported withdrawal methods, enter the sum you wish to cash out, and provide your login information. After confirming the payment, it can take up to several business days for the transaction to clear. This delay is primarily due to the fact that online casinos need to verify each withdrawal request manually.

Mobile Support for WebMoney

WebMoney is not only available for PC users; those who primarily gamble on their mobile devices can also make good use of this service.

Users can download the WebMoney Keeper app on their Android, iOS, BlackBerry, and Windows Mobile devices directly from the app marketplace of each platform. The app offers the same features as the desktop version, allowing you to conduct your transactions with ease.

Advantages of WebMoney

There are significant advantages that come with using WebMoney over other payment services for your gambling needs. Below, we outline some of the most important ones you should take into consideration.

Unlike some other services, WebMoney allows users to conduct instant deposits and relatively speedy withdrawals. This is one of the primary reasons players choose WebMoney. More traditional payment methods are undeniably slower; for example, bank transfers can take five or more business days to clear, depending on the jurisdictions involved. This is simply unacceptable in this day and age, and WebMoney is able to provide high-speed transactions at a relatively low cost.

The security of the service is another perk you should certainly not overlook. WebMoney comes with a variety of features meant to protect your funds, which you should definitely take advantage of. While these may not be anything too complex, they have proven effective and are becoming a staple of online security.

Finally, WebMoney is a commonly accepted payment solution throughout the online gambling industry. It has been around for about two decades and, in that time frame, has become one of the most popular payment methods. Many of the top online casinos support this service, and if you choose to use it you will be able to control your bankroll with relative ease.

Disadvantages of WebMoney

Granted, WebMoney is not the end-all, be-all solution for online transactions. Despite its many advantages, WebMoney is not perfect and has some drawbacks that you should definitely be aware of.

While the service has gained popularity, it is mostly supported by established online casino brands. Newer websites prefer to include only the most widely used payment solutions in the online gambling industry, such as Skrill, Neteller, Paysafecard, credit cards, and similar options. It is often the case that newly founded casinos do not deal with this payment method, which could be a detriment in the long run.

Another somewhat unfortunate aspect of WebMoney is that it charges a commission for topping up your WebMoney balance. The sums it keeps are not too large, often not exceeding 4%, but certain transactions may come with a fee of up to 11% to 13%. In the short term, most of the fees will not be too burdensome and you will likely hardly notice them. However, over time, these can add up and you might find that you have spent a significant sum solely on fees. Naturally, it is unreasonable to expect a good service to be free, but several competitors offer a similarly high-quality service with better pricing schemes.

Finally, we cannot ignore the fact that WebMoney was first established with Russia and the former Soviet bloc in mind. While the service has expanded and is now available almost worldwide, its original orientation is still noticeable. One simply needs to look at the funding and withdrawal fees and processing times for the different currencies to see that transactions in rubles are much quicker and cheaper.

Security

One of the most important aspects to consider when choosing an online payment method is security. With identity theft and monetary fraud becoming an ever-increasing concern, you need to be sure that your service of choice will be able to maintain the integrity of your personal and banking information, as well as your funds.

As it happens, WebMoney is highly secure and there are multiple systems in place to prevent any wrongdoing. Gaining access to a WebMoney account as an unauthorized user is not an easy task. There are three main authentication methods that users have at their disposal. These range from traditional usernames and passwords to files with secret keys to personal certificates. Moreover, users also have the option of utilizing a two-factor authentication system. This can take the form of an SMS verification code or the E-Num service. Both provide you with one-time-use codes that you enter when logging in and are necessary to gain access to the account.

These security measures make it possible for users to enjoy their games in peace, knowing that their funds are safe.

Customer Support

Customer support is available from WebMoney, although it may not be one of its strong suits. Generally, there are two ways to contact the support team: calling by telephone or sending an email. There are four dedicated lines that you can dial—two for Russian users, one for Ukrainian, and one for Vietnamese users.

If you need help with one of the purses, there is a dedicated email address for each purse to which you can forward your enquiries. For the most part, WebMoney answers all questions and resolves all issues in a timely manner, although certain user reports indicate that the process could be improved.

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