Online gaming is without a doubt a massive growth industry. With more and more players making the move to playing at online casinos and sportsbooks, it’s become a hugely popular market. With a new market always comes new innovations and the iGaming world is no different. Payment methods have grown and changed a lot over the last few years. There are now lots of ways to make payments available to players. But, which one is the best? Well, best is always subjective and that’s why we have put together our list of favorite payment methods and why we think they are so good.
E-wallets
According to PayGamble, E-wallets are one of the most popular ways to make payments when playing at an online casino in the modern world. This is because they offer a huge amount of flexibility to players. E-wallets can be used to make instant deposits and instant withdrawals. On top of this, the fees for e-wallets tend to be much lower than the fees for traditional payment methods. This means that players don’t have to worry about large parts of their winnings being swallowed up by astronomical fees that are added on.
The speed with which the payments are made is also a big selling point. When compared to a bank, the difference in withdrawal times is incredible. Players may need to wait up to a week to get hold of their funds when withdrawing to a bank account or debit card. With an e-wallet, those funds can be in your account within an hour, although it can sometimes take up to a day. This is a much faster process, which means that lots of players prefer this method for withdrawing their funds.
There are a lot of different e-wallets out there. Most of them can also be linked to bank accounts and debit cards as well. This adds some extra functionality and makes them much more useful to players in general. A significant number of people are well aware of PayPal, but there are actually plenty of other options out there. Neteller and Skrill are two of the bigger names, but there are others that also provide a good level of service. Find the right e-wallet for your needs and you will be off to a great start.
Cryptocurrency
This is a fast-growing aspect of the online gaming world. There are more and more crypto online casinos appearing all over. This is due to several reasons. Firstly, crypto as a payment method makes things much faster and easier for both players and casinos. E-wallets are quick, but crypto is even faster. This makes it a very useful way to pay for all parties. The fees when compared to traditional payment methods are also much better for players. There are gas fees, but these can be limited when you choose to make your payments at the right time. This allows people to send their payments inexpensively and a lot faster.
This is not the only aspect that cryptocurrency brings to the table though. The blockchain, which is what crypto is built on, can be used to create games as well. This has started to appear a lot more in recent times as developers are starting to incorporate the blockchain into game design due to the possibilities that it provides. Even the new FIFA games will be built on the blockchain once the EA Sports license has ended. This allows casino developers to create games that have their own currency built into the game’s ecosystem. This makes it much easier to play the game, but also ensures that players can make payments and withdrawals instantly.
As a payment method, this is certainly the one that has the most potential. Players can access funds quickly and there is the added bonus of the value increasing as well. In the future, it might end up as the most popular method to make payments.
Prepaid cards
This is one payment method that’s grown in popularity recently. Prepaid cards allow players to fund a card with cash, which they can then use at any site they like. This allows players to retain a sense of anonymity, but also protects their bank accounts from malicious people.
