Payment Methods for Online Casinos: Why They Matter

When was the last time that you visited a land-based casino? You may not even remember, as most people are now moving online. The efficiency of playing various games on the go is a factor attracting people to online casinos.

How does one deposit or withdraw money from such casinos? Are there any differences from what you get in land-based casinos? We linked up with a gaming expert and techie, Kevin Cochran(check profile), to educate us on online casino payment methods. The following are some of the major lessons that we noted from the session:

Bank transfers and cheques are becoming outdated

There were days that gamblers did not have many options when paying online. Direct bank transfers were the order of the day. Some were also using cheques to deposit on such Canadian gaming platforms. One of the advantages of these payment options is the security measures in place.

However, modern gamblers are looking for convenient and fast payment options. Both cheques and bank transfers are not that fast, and it may take days for them to clear. Thus, a player will initiate a deposit today and wait for several days before the money reflects on the account.

Such players will also have to wait for days before the money hits their accounts after a withdrawal request. Thus, modern web users are opting for payment options that will reflect instantly after a deposit or withdrawal request.

Credit cards are still the king

A survey that was conducted in Europe showed that Credit Cards is still the leading payment option. Countries monitored include the UK (49%), France (52%), Spain (36%), and Belgium (47%). Credit Cards' adoption is also high in Canada as there were 79.6 million cards issued in 2018, and the numbers have been rising steadily since 2011.

Canadian players are always looking forward to free spins on various platforms. The big question is; how do online casinos pay you? Credit Cards are proving to be an awesome depositing and withdrawal option that does not charge transaction fees. The only time you may incur some charges is when your Credit Card's base currency is different from that of the receiving account. Most of the online platforms accept popular Credit Cards such as Visa and MasterCard.

E-wallets are taking over

We live in a digital world where everyone wants to enjoy digital options. The process of setting up most of the e-wallets is simple and thus attracting millions of users. For instance, all that one needs to open a PayPal account is an email address. The verification process on such platforms is also easy for most internet users.

Most online casinos are thus including various digital payment options to tap into digital consumers. Some of these e-wallets charge transaction fees, and users must be ready for it. Some of the most famous digital payment options in the Canadian space are PayPal, Skrill, and Neteller.

Crypto payments are now trendy

The cryptocurrency wave has shaken the finance world, and the online gaming sector is slowly picking up. Bitcoin casinos are now being launched, and existing platforms are also restructuring to include crypto as one of the payment options. Being anonymous, fast, and extremely secure are the features that are attracting casino users to crypto payments.

Some platforms have also included altcoins in their portfolio. Online gamers can thus enjoy games created on various blockchain platforms and pay in crypto. It is also one of the online casino withdrawal methods that allow people to withdraw high sums of money.

Mobile payments are hot

Gone are the days that smartphones were only used to make calls, receive calls, send and receive messages. The modern world has given mobile devices so much power. Canada is one of the countries that has adopted mobile payment options. Some of the most popular include Google Pay, Samsung Pay, and Apple Pay.

You no longer have to worry about payment in a casino when you have the above options at your disposal. Review every payment option and select one that best suits your needs. Some of the payment options might be best suited when making small deposits, while others come in handy when it involves huge sums of money.

Post a Comment

Previous Post Next Post