Online gambling has no physical borders, and no matter which country in the world you’re in, it’s possible to play. However, you can certainly be limited by local laws, which might restrict certain payment methods. Additionally, some processing options that are preferred in one region may not even exist in another.
Another geographical factor is the range of currencies available. There could potentially be a currency conversion fee for playing at an offshore casino, for instance. So yes, it’s fair to say that your physical location plays an important role in choosing the right casino payment method.