Casino Deposit & Withdrawal Methods for Icelandic Players 2023

Welcome to a comprehensive guide to online casino deposits and withdrawals for players from Iceland. Our detailed manual includes helpful tips on selecting safe, quick, and trustworthy casino payment methods. We also present a list of the best Iceland-friendly online casinos that offer payment methods assessed and ranked by our team of experts.


Many casino deposit methods are considered quick and easy to use. Therefore, the payment service you wish to use at online casinos eventually boils down to your liking.

It’s up to you to decide whether you want to select popular payment services like credit and debit cards and PayPal. Or choose alternative banking methods.

The number and types of casino deposit methods depend on the country you’re from. The good news is that there are many Icelandic online casino deposit and withdrawal methods you can choose. The most popular ones include VISA, Mastercard, PayPal, Skrill, and Neteller.

One of the essential things online casino players from Iceland look for at casino sites is an option to quickly credit their casino balances. Instant and safe casino deposits are the main “ingredient” in making the gaming experience easy-going and pleasing. Icelandic gamblers can find many online casino hubs accepting various payment methods. Therefore, the banking method you’ll use to top up the account and withdraw winnings primarily depends on your personal preferences.

Nowadays, most casino sites have cashier sections containing international payment methods, local and alternative services, and cryptos. Each payment service has both advantages and downsides. Therefore, players from Iceland need to learn as much as possible about various payments before they click “select” on the casino’s payments page. Moreover, Icelanders should sign up with the casinos that best cater to their needs regarding payment methods.

Credit & Debit Cards

Credit and debit cards are the most common “guests” on the casino’s banking page. One of the reasons why bank cards top the charts is that almost everyone has at least one. Bank cards let gamers quickly fund their casino balances without an intermediary.

The vast majority of online casinos that accept players from Iceland also accept bank cards. Moreover, credit and bank cards are also available to withdraw the winnings, making them a convenient solution for casino gambling. You can expect the funds to reach your bank account within a few working days.

Alternative Payment Methods

Many players don’t want to use credit and debit cards for gambling at online casinos. Players are concerned about security and don’t want to provide sensitive data online. Cybercrime is constantly on the rise. Therefore, although banks ensure transactions are handled in a safe environment with cutting-edge protections, some gamers prefer to pick suitable alternatives.

Privacy and convenience are among the main reasons why players decide to select other services. The most commonly used alternatives are e-wallets acting as intermediaries between your primary payment service and the casino account you create with the digital wallet.

Consequently, if you sign up with an e-wallet, you don’t need to submit your card details or bank account number at casino sites. Instead, you open an account with Skrill, PayPal, or Netteler and link your bank cards to fund your e-wallet account. Then, you transfer the money from your e-wallet account to the casino and use it to play games. You don’t reveal personal and sensitive data on the casino’s cashier page. You log in with your e-wallet credentials and make transactions from there. Moreover, virtual wallets allow you to deposit and cash out winning.

Direct bank transfer is another convenient casino banking alternative for Icelandic players. However, it’s worth noting that most casinos offer wire transfers for withdrawing funds. Still, some casino sites also let players make deposits through a direct bank transfer. Although this is one of the safest ways to replenish your casino balance, it’s also one of the slowest. Transactions may last 3-5 business days or even a week.


Our experienced fintech and casino gambling experts created a comprehensive list of instructions to help you learn how to deposit and cash out funds quickly and securely. Follow our easy-to-understand guidelines for friction-free casino banking.

Payment Method Types

Check out the list below, as we’ve highlighted the most popular and widely used Icelandic online gambling deposit and withdrawal methods. Our selection will help you pick the best services to suit your gambling preferences at Icelandic online casinos.

Bank transfers

You can select bank transfer to fund the casino balance if you don’t want to share your banking and personal details online. Wire transfers are secure but have higher costs, and the processing time for funding your casino account can last up to a few days.


This payment service requires the gambling site to have connections with brick-and-mortar casinos. Transactions with cheques are more secure than online transfers. However, you must visit the land-based casino hub and offline Cashier to get approval for your online deposit.

Credit cards

Credit cards are among the most widely used and reliable casino banking methods. They are also safe since all transfers are handled within the bank-grade secure environment. Many people have credit cards and use them regularly as they ensure high approval rates. Still, using credit cards for gambling can be risky if you have issues controlling your budget.

Debit cards

The most popular debit cards in the world are VISA and Mastercard. Therefore you’ll see their logos on the banking pages of many global casinos, including Iceland-facing sites. Debit cards don’t ask you to submit a pin code for internet banking. You can instantly deposit money without needing a credit facility.


Online electronic funds transfer, or EFT, is similar to bank transfer enabling Icelandic players to make casino deposits without third-party services. The process is straightforward. Pick the EFT on the banking page and follow the instruction. You will send money directly from your bank account to your casino balance.

Mobile payments

Those who don’t want to reveal any banking details online can add their casino deposit amount to their mobile phone bill. The amount will be charged from the phone bill at the end of the month. Still, remember that this way of crediting the casino balance is limited as the amounts you can transact are low.

Payment processors

Payment processors group different banking services under one umbrella. Such an approach of these payment networks enables fast and seamless online casino payments for an affordable price.

Payment gateway

Payment gateways have become one of the most popular casino banking services. They offer access to various global and local services and support local currencies, including króna. Moreover, they facilitate swift casino transfers. Many don’t even charge fees from players. Finally, they are secure as you’re not revealing personal or banking details.

Icelandic prepaid cards can be used as online and offline casino payment services. Some can be redeemed online and some at shops. Prepaid cards are convenient for casino deposits, but you can’t use them to withdraw money.

Prepaid vouchers

Prepaid vouchers are similar to prepaid cards. However, you must obtain a physical coupon with a specific code. Prepaid vouchers can be used only once and are ideal for crediting the casino balance.

Virtual cards

The best-known virtual cards are VISA and Mastercard, but you won’t get a physical card. In this case, you’ll register and activate an online account you can credit using different payment methods to deposit funds at casinos.


Vouchers and prepaid vouchers work similarly, providing the same level of safety. Both are also easy to use. The main difference is that you can credit your voucher with third-party services and reuse it. On the other hand, prepaid vouchers are not reusable. Once used, you must buy a new one.


Digital wallets are among the most used payment services at online casinos. Their main advantage is that they don’t store your banking details. You create your e-wallet account and send money from your bank account within your online banking. Then at the casino cashier, you log in with e-wallet credentials and transfer money from there.

Popular Payment Methods

Bitcoin casinos

To get one of those offers, follow our step-by-step guide. It may seem straightforward, but we want you to be fully inormed before commiting to signing up. To get one of those offers, follow our step-by-step guide. It may seem straightforward, but we want you to be fully inormed before commiting to signing up.

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Credit and debit cards are at the top of this list as they are offered at almost every casino online. However, players from Iceland can also opt for various digital wallets or direct bank transfers.

Select the payment provider that best meets your iGaming needs. Learn all the options and limits, and don’t forget to check if the service charges fees. Since there are so many casinos online, you won’t have an issue finding the one accepting your preferred payment service.

iGaming venues regulated and supervised by reputable authorities adhere to the highest industry standards for protecting sensitive data. All transactions and personal information are end-to-end encrypted and safeguarded from potential misuse.

Some payment systems work both ways, allowing you to top up the casino account and withdraw the funds. However, some payment providers don’t support withdrawals, so you’ll need to check if the service is possible before you deposit funds. The best way to learn if you can use the desired provider for deposits and withdrawals is to read our reviews before opening the deposit page.

Each casino has a withdrawal pending time needed to approve the transfer. These timeframes can last from a few hours to a few days. The fastest payment method for withdrawing funds is Bitcoin, taking an hour or so to process the transfer. E-wallets may need 1-3 business days, while bank cards and wire transfers can last up to seven banking days.

First, check if the payment processor charges transaction fees. Then, learn how fast the service processes payments and if you can use the local currency, Icelandic króna, to avoid paying currency conversion fees.

Sure. There are plenty of other alternative methods you can pick to fund your casino gaming. Some of them are virtual wallets, EFTs, cryptocurrencies, prepaid cards and vouchers, and even cash deposits.

Yes. Our review delivers a complete section with valuable information and instructions on using Bitcoin for online casino gambling. It also offers a list of casinos offering the best services and cryptocurrency casino bonuses.

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