The online gambling industry has grown considerably in recent years. New, more flexible payment methods are now being offered to casinos and gaming platforms. Here's a closer look at the innovative payment methods to watch out for in 2020.
Payment services tailored to user needs
The iGaming and casino sector continues to grow, with sales estimated to exceed $100 billion by 2020. Whereas 10 years ago, gamblers primarily used their computers to access online services, the development of smartphones and the appearance of new connected objects have changed the game.
Companies in the sector must inevitably adapt by offering diversified means of access. This means, for example, providing users with a fully secure virtual wallet enabling them to deposit and withdraw funds instantly. PayPal, WebMoney, Skrill, Neteller, Yandex Money and ToditoCash are just some of the e-wallets available.
To differentiate themselves, some platforms offer players access to live gaming rooms, 3D slot machines and 24-hour customer service.
Crypto-currencies increasingly present in the casino industry
Just as payment methods are changing, so are the currencies used on gaming platforms. Some now accept transactions in crypto-currencies such as Bitcoin, Ethereum, Litcoin and Dash.
The use of virtual currencies enables money to be transferred more simply and quickly, whereas a conventional bank transfer requires a processing time generally of between 1 and 3 days, depending on the bank. Blockchain also ensures the security of transactions carried out with crypto-currencies. Thanks to this technology, they are anonymous, irreversible and immutable. With a capitalization in excess of $220 billion, crypto-assets are set to be increasingly present on platforms.
Offer immediate withdrawals
Players now want to be able to enjoy their winnings immediately, whereas a few years ago they had to wait several days to be able to collect them. Today, withdrawal times are a criterion of choice for users. Companies in the sector have therefore had to strengthen their payment services to offer near-instantaneous withdrawals.
The new technologies offered by players in the iGaming and online casino sector are attracting more and more users. Fast, flexible options enable players of all profiles to access the services on offer. Despite some restrictions making online casinos illegal in certain countries, the market is set to grow even stronger over the next few years.