Online casino play has seen a significant rise in recent years. This has been down to many factors, including convenience, higher quality specifications and more diversity of games.
But one of the most compelling reasons for the success of the online casino industry is the ease with which players can make and receive payments.
Many online casinos require new players to deposit money into an account before beginning play. With the latest payment systems functioning alongside the optimized sites, this is perfectly secure and easy.
As well as making deposits to facilitate play, online casino sites like 888casino also use secure payment options for withdrawals of winnings and profits. This has made the entire financial process of playing casino games online far more reliable and trustworthy.
Online casinos now accept a range of different payment methods from account holders. The following are the most trusted payment providers used across the online gaming industry.
Credit and Debit Cards
Personal banking and credit cards are still one of the most trusted ways to pay for goods and services online. The vast majority of reputable online casinos will also accept cards as the main source to fund gaming accounts.
A major advantage of using cards for this purpose is that it is quick, easy and secure. Most players will already have access to cards, so it is a simple way to enjoy the full range of gaming features online.
Many online casinos across the world accept major cards such as Visa, Maestro and Mastercard. It remains one of the most popular ways to fund gameplay online because of its accessibility. Almost anyone can apply for and use a card throughout the world, making it a widely popular online payment option.
PayPal online Payments
PayPal is one of the best-known names in the world of online payment systems, with a long history of providing a smart and simple way to process financial transactions. The communication between PayPal and new technological systems, such as mobile optimised checkouts, highlight how well the platform has developed.
Indeed, with over 400million active users worldwide, PayPal can rightfully claim to be the most successful of E-Wallets. Its popularity has also spread to online casinos, with account holders able to securely deposit money almost instantly to their accounts.
PayPal is a well-known trusted company in the digital payments industry.
EcoPayz is another well-known online payment system that could be used for gaming activities online. It is supported by many gaming sites and can be used to transfer funds to enable online play.
It has won plenty of fans for its clear detailing of available funds, and the safe and secure process of transferrals and withdrawals.
With online transactions continuing to rise month by month, Google has been successful in offering a reliable digital wallet service for its users. Primarily focused on Android devices, the payment system provides a useful way to link credit and debit cards to online payments.
The core advantage of this for online gamers is in its safety and security. The financial details of banks and cards are not accessible to any third parties – e.g., the online casino itself – so an extra layer of reassurance is added to the process.
If a player is using the system on a smartphone, they can add even more ID protection to make using the E-Wallet even more secure.
Skrill is another famous E-Wallet that is supported by a range of online casino sites. Used by over 32 million members across the world, the method is supported by most major online gaming sites. The winner of Best Digital Wallet in 2019, the service can be used to make safe and reliable financial transactions.
iDebit is an online payment method that allows payment for purchases via an online bank account. No credit cards are needed, and the service is widely supported by online casinos and gaming sites.
Cryptocurrencies such as Bitcoin have been steadily making advances into the world of online sports betting, casinos and gaming sites.
A noted advantage of cryptocurrencies is in the speed of transactions. There are even some online casinos that deal solely with payments made from cryptocurrencies.
As well as the speed of the financial process, cryptocurrencies also offer a high level of security. This is down to the fact that the currency is based on encrypted technology – hence its name – which makes it far harder to hack.
There are however some drawbacks, such as the inherent volatility of cryptocurrency. Prices and values for Bitcoin, Litecoin and Ethereum fluctuate more rapidly than most traditional international currencies.
It is also not always recognised as a secure payment method for other goods and services. So, a gamer may need to open up different accounts and make different payments for various different services. In a complex world of assorted outgoings, this could complicate financial arrangements.
Cryptocurrencies are becoming more widely accepted, however it is important for a player to research before using such payment methods.
The Future of Online Payments Worldwide
The global mobile payment market is tipped to reach over $3 trillion USD by 2024. As more and more nations across the world enter into a cashless society, the mobile payment revolution shows no sign of slowing down.
Online casinos and new gaming options are a significant part of this progression. As players tune into this new world of secure payments and withdrawals, the future of both banking and casino gaming looks set to be online.