It truly takes a seamless orchestra of winning casino games, timely bonuses, and payment options to get an online casino off the ground. After all, what good is playing your favorite games if you have issues making payments? The purpose of this guide is to shine a light on the immense importance of having diverse payment options to take the online casino experience to the next rewarding level in these main ways:
- highly secure
- mobile friendly
- consumer trust
- fast-processing
Long gone are the days of sitting around waiting for payments to be processed. However, for high-rollers, traditional bank transfer is still available for larger deposits that can take several business days to process.
- The Traditional Credit Cards
Of course, MasterCard and Visa have been around since the beginning of online casinos in the 1990s. Because of the tremendous name recognition and consumer trust with more than 150 million users, Visa and MasterCard have a loyal following and are accepted at virtually all online casinos. Using Visa and MasterCard also means having access to their debit cards.
Before granting their members access to using the credit and debit cards, most online casinos have their members go through another verification process with authorization forms that need to be filled out and approved. However, once in the fold, credit cards support instant processes that are usually free of charge.
Due to their extreme popularity, most online casinos have expanded to now support American Express and Discover Card. Because so many people use mobile devices, the additional credit cards make it easier to make instant deposits. The only drawback of using credit cards is not all institutions support them, which means there is a chance for these transactions to get flagged as fraud. Also, most online casinos don’t support credit cards as fast and instant payout options.
- The Rise of Cryptocurrency
Before American online casinos became legal in 2012, many American online casino players were forced to get their online gaming kicks at offshore casinos. The undisputed king for quite some time was Bitcoin Casinos. Because Bitcoin runs on decentralized blockchain technology, the transactions became instant because they didn’t have to go through banks for permission.
With this method and the major anonymity that comes with using cryptocurrency, many American states were forced to enter the online casino arena. To help many of these loyal crypto users sign up at American online casinos, the prominent sites began accepting Bitcoin.
With Bitcoin, members don’t have to worry about their transactions getting flagged and slowed down. As an added bonus, Bitcoin became the number one payment option to receive instant payouts. If the amounts are small, online casino members can expect safe and timely payouts in their crypto wallets at all hours of the day. Also, one crypto wallet is able to accept multiple cryptocurrencies, like Ethereum, that are also eligible for instant payouts.
- The Rise of e-Wallets
As an added measure to get more new and younger players to join, online casinos began shifting to e-wallets. Skrill and Neteller were the go-to methods to provide an alternative to the on-again and off-again credit card options. However, once Neteller left the North American market, American online casinos were forced to expand to PayPal.
Of all the e-wallets, PayPal is the most used, so it makes business sense to incorporate PayPal. Also, PayPal Online Casinos support instant payouts within the hour or fast payouts the next business day. However, the biggest benefit is being able to make more substantial withdrawals at one time using PayPal.
To help boost mobile players, real money and social casinos now incorporate Apple and Google Pay. These e-wallets allow members to seamlessly link their social media accounts to the e-wallets for faster payments. Also, Apple and Google Pay are sometimes exclusive to mobile platforms to boost involvement.
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