Online credit card transactions were vital for the online gaming industry as they made it much easier for companies and gamers to carry out financial transactions. Although credit card payments are a preferred system and extremely common nowadays, you still have to be careful when using this method of payment, as there are some risks linked to it.

One of the biggest risks of credit card payments in online casinos is the possibility of identity theft, which could happen in case hackers access online databases that contain personal details of users. These details also contain credit card information and thus, hackers can make other unauthorised online purchases with the stolen credit card details.

Having said that, there are a couple of precautions that you can take to prevent fraud from happening to you. First of all, make your purchases only on sites that you trust. Avoid clicking on links sent by email as these could lead you to a fake website set up for the purpose of stealing credit card details. Instead, type the URL manually on your browser so that you’re taken to the real website.

Secondly, make sure that the casino or whatever website you’re using has a security system that is verified by an independent agency like VeriSign or Thawte. Furthermore, make sure that the Internet connection that you’re using is secure while credit card information is being transmitted. In most internet browsers, a secure connection is indicated by a lock icon in the lower right corner. You can also check a website's security by checking the URL, the URL of a secure page should begin with "https://"

Apart from that, you should avoid making credit card purchases from public places (such as a library or an internet cafe), as such networks could be less secure. This also applies when using your personal laptop in a public wireless network.

Another useful tip is to use a credit card instead of a debit card - this is because the maximum liability for fraudulent charges with a credit card could much lower than that of debit cards. The amount varies from one country to another, for example, in the US the amounts are $50 for credit cards as opposed to $500 for credit cards. Not only that, fraudulent usage from a debit card uses money from your account - which could take you a good number of days to be returned back.

Visa and MasterCard allow users to incorporate extra security in the processing of financial transactions. Online buyers have a password-protected identity that allows the transaction to be processed only if the password is matched. Visa calls this Verified by Visa while MasterCard calls it MasterCard Secure Code. Remember to register for an extra layer of security.

The last important step to protect yourself is to make sure that your computer is constantly protected from viruses and spyware by installing and updating a good anti-virus software on your computer. This could prevent hackers sending your internet browser to fake websites.

All these precautions can help you put your mind at ease when using your credit card and in this way you can benefit from the convenience of online payments without any worries.