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Online gaming has enjoyed significant growth in popularity, with stronger and faster internet connections and improved technology helping to create incredible gaming experiences for consumers. Technological developments have boosted everything from traditional console gaming to mobile apps and online casinos, but deciding the best way to make a payment can be a hard choice.
Many games include in-game purchases that aren’t necessary, but can improve the game. Bettors will also regularly deposit and withdraw money from online casinos, making it essential for the modern gamer to consider which payment methods best suit their needs.
Cryptocurrencies
Crypto payments are an excellent option for online gamers, and are a particularly good choice for gamblers living in US states that prohibit online casinos. While the operation of gambling sites in certain states is prohibited, consumers can still access offshore betting sites that operate in external jurisdictions.
Rather than get tangled up with currency exchange rates that can see people lose out, crypto payments don’t have the same issues. Playing at the best Bitcoin slots sites gives players access to online gaming and impressive offers, and cryptocurrencies can also help players protect their personal information.
Rather than providing sites with personal information and banking details, players can enjoy peer-to-peer transactions that are faster and typically have lower fees. Many international crypto casinos also have no-KYC (know your customer) sign-ups, helping players access sites in minutes rather than waiting for documents to be verified and then worrying that this information has been stored securely.
The popularity of digital currencies has been steadily growing, and recent political support has seen value and acceptance increase sharply. All of these factors make it an excellent option for online gamers who want to make quick payments without having their personal details stored on potentially vulnerable websites.
Card Payments
Card payments are the most common payment method, with many consumers enjoying the simplicity of simply entering payment details when required. Some sites and devices have made this easier by storing information or allowing cards to be scanned to make payments quicker.
Using a debit or credit card to pay also gives the consumer some level of protection, with card providers and banks having their own security systems and protocols in place to try and prevent or resolve fraudulent payments.
The convenience of paying by card is also a massive benefit, with money going directly from an account to the service or operator. Debit cards won’t charge for this type of transaction, however, the consumer could be liable for interest payments on overdraft withdrawals. Credit cards will lay out their terms and conditions for consumers to examine, with many offering interest-free periods if the balance is cleared in an agreed timeframe.
Fees for international transactions and currency exchanges will vary depending on the supplier or bank, so it is worthwhile checking this before making payments.
Card payments will typically clear in 1 to 3 working days, but they can take as long as 5. If the customer is being refunded or withdrawing funds from an account, this timeframe will start when the operator confirms the transaction.
Bank Transfers
Bank transfers are not the easiest option and require setup with operators that accept this payment method. While it offers consumers good security, control, and lower transaction fees, it is slower and less flexible than other payment methods. Payments can be affected by bank cut-off times, holidays, and policies, and international payments can be subject to delay and cancellation.
E-Wallets
E-wallets or third-party payment platforms are a popular payment method because they are quick and easy to use and have strong security in place to protect consumers. PayPal, Google Pay, and Apple Pay are among the most popular options with millions of users worldwide and acceptance at the majority of online gaming sites.
Rather than providing websites with card or bank details directly, consumers are able to link this information to their preferred payment system. This adds an additional level of security when making online payments and minimizes the number of sites and operators that hold your information.
These sites will typically implement strong security protocols, including multi-factor verification systems to authenticate the user. These can include the user having to enter a PIN or password, verifying their identity by code sent to an email, or phone number that is associated with the account, and in some cases, they make use of biometric verification processes with face recognition, retina scanning, and fingerprint technology all guaranteeing unauthorized third parties can’t access your account.
While there are strict security protocols in place, they can still provide greater convenience for consumers who are able to make payments with the click of a few buttons.
Speed of payment, security, and value for money should be considered when choosing a payment method, and the best gaming sites and online casinos will offer their customers a variety to choose from.
