Payment Systems in Gambling: How to Choose the Most Appropriate One
Fully-fledged functioning of an online casino is impossible without connecting payment services as they enable the inflow of real money from players.
Online casino payment systems are integrated solutions thanks to which one can pay for playing at virtual gambling houses. They are financial intermediaries between the gaming portal and users helping to deposit money to the game account and withdraw winnings to the player’s bank account.
Each of them has its own characteristics. In the article, we will tell about the advantages and disadvantages of payment systems and their types.
Advantages of payment systems
Integration of payment systems is one of the most important stages of building a functional online casino. The more payment services an operator adds, the more options players will have for money transfers.
This is connected with the fact that not all payment systems are available in all countries, for example, WebMoney, Ukash, and EntroPay do not operate in the US.
Besides, a beneficial solution would be to add not only international but also national payment services. This increases the target audience due to citizens of those countries, as the resource provides users with a possibility to play on a qualitative and responsible resource rather than use services of illegal operators.
How to choose a payment system?
For players, the choice depends on the payment destination. For example, bank cards (Visa, MasterCard, Maestro) are mainly chosen because they are the simplest in use, Visa cards are also chosen by players that make small bets. At the same time, Skrill wins in terms of the efficiency of transactions.
Read further in the article about the most popular and frequently used payment systems at online casinos.
The main advantage of Click2Pay lies in the fact that money for gambling is taken directly from the bank card. Besides, the system allows setting up a restriction on withdrawals, which is important for players that struggle with gambling addiction.
One of the most frequently used payment systems in gambling. It supports the majority of global currencies and is available in 160 countries. The main benefit is that money is transferred directly from the online casino account to the Neteller account.
A unique service that provides the customer with a virtual debit Visa card. The main advantage is low transaction fees.
From all systems on the list, WebMoney is considered the most difficult one. WebMoney is divided in standalone wallets responsible for a certain currency. Nevertheless, this payment system can be refilled using a great number of ways including bank accounts.
Ukash is an unusual service that functions using vouchers. This payment system does not require registration, provision of banking details, or confirmation of age.
Visa is one of the most popular systems not only among users but also at online casinos. You do not have to apply much effort to get a Visa credit card at any bank; it is easy and fast to make payments with it. As for online casinos, players have to register their Visa cards on the website by entering the full name and card number in the special field before they make a deposit. These actions will not lead to the disclosure of player personal data, as casino value their reputation and keep player data confidential.
Almost all online casinos use MasterCard, which is beneficial and convenient. To make a deposit, the player has to choose the MasterCard option, enter data specified on the card, just like with any other payment.
However, this payment system has one disadvantage – experienced players recommend not running financial transactions without making sure that the online casino is safe and reliable. The reason is that when you use this payment system, you have to specify your full name, card number, and CVV code, and this data may end up in the hands of a shady platform.
Maestro belongs to MasterCard but at the same time is an independent payment service. It offers debit cards, the funds on which belong to the customer and are stored at a bank, and the customer can use funds until they end.
However, Maestro cards do not function on foreign gambling sites. Therefore, you should check it up with the online casino whether it accepts this payment method.