Why Mobile Payments Are Important in the Online Gambling World
Online casinos have had a serious boost in popularity recently – maybe stay at home orders have something to do with it. Whatever the case, the explosion in the industry has also been cause for innovation in the mobile payments industry. So, how have mobile payments changed the face of the online casino world, and why?
Credit Cards Are Becoming a Problem
Since recent legislation was passed in the UK, which banned the use of credit cards at online casinos, many gamblers have had to look to other payment methods to fund their hobby. The ban was intended to stop players from building up massive debt on their cards, so many players have had to switch to debit cards or other options.
Debit cards have long been the payment method of choice for many players, but they’re not always the safest. Particularly in the early days of online gambling, when casinos were prone to hacks, linking your debit card to an account was risky.
Bank wire transfers are still accepted at many online casinos, but they are slowly petering out. They’re inconvenient, have harsh fees, and often take forever to actually show up in your balance. Debit cards and mobile payment methods will usually reflect in minutes, while bank wire transfers can take up to a week.
In the 2010s, e-wallets truly began to revolutionize the way players conduct themselves online. The rise of popular e-wallets like PayPal, Neteller, and Skrill have shown that online gambling payments can be extremely secure. E-wallets offer an extra layer of security, protecting players from fraud and hacks. Many of these e-wallets also offer streamlined and well-designed mobile apps, making for easy payments in a convenient, on-the-go, format.
Crypto Could Be the Future
Over the last few years, we’ve seen the rise of crypto’s popularity in online casinos. Since Bitcoin’s launch in 2009, crypto has grown from strength to strength – and the online gamblign world is the ideal application for it. Crypto is extremely secure, offers cheap and fast transactions, and is accessible from anywhere in the world. It’s effectively a version of a universal currency, because anyone can use it, anywhere.
Most casinos today will have at least one crypto payment option, usually Bitcoin. This makes for easy payments that are as secure as they are efficient. So, jump on the crypto bandwagon and see how it can change your gambling experience today.