Nowadays both novice players and experienced punters tend to play at online casinos rather than brick-and-mortar ones. What is the reason for that? The explanation is pretty plain – there is no need to purchase overpriced airplane tickets to casino cities. The only thing you should do is to enter a casino website and opt for a casino game that satisfies your tastes and whims. Certainly, the coronavirus pandemic has put its imprint on the gambling industry.
To become a trustworthy and renowned online casino venue, operators are constantly trying to improve the playing environment. It implies attracting more and more newbies and fervent punters by introducing a comprehensive array of various game projects from slot machines to specialty games. More than that, it is imperative for Internet casinos to provide well enough bonuses, promotions and payment options. Without these essential features, no one will play at such venues.
Speaking of payment methods, the catalogue of deposit and withdrawal variants is huge. Just see for yourself – a punter may select a conventional credit/debit card method or pick a prepaid voucher such as Paysafecard. Don’t forget about the fact that more and more online casinos start utilising various cryptocurrencies like Bitcoin, Ethereum, Dogecoin to follow current trends on the market. Digital wallets aren’t on the sidelines too. The latter is our topic for today.
Electronic Wallets in the Gambling Industry
Over the past years, electronic wallets have become a popular option for deposits and withdrawals. This method finds many fans across the globe due to its rapid money transfers. Operators modernise their online casinos to keep up with brand new payment options and to be customer-friendly.
Electronic wallets provide a seamless way to cash money in and out. And if may take several business days to transfer money to a bank account, e-wallets provide rapid payments within several hours. The majority of Internet gambling platforms offer multiple sources of depositing and withdrawing. Let’s take a look at the most famous digital wallets in the online casino industry.
This is a straightforward alternative to traditional online payment options. It is the fastest means to cash winnings out of your casino account. The digital wallet proposes high-standard security measures as well as plenty of currencies to make purchases with. There are loads of promotions for loyal punters as well.
The Skrill digital wallet originated in the United Kingdom in 2001. Initially, it was named Moneybookers, but some time later the logo was changed to Skrill. The wallet is abundant with advancements that the previous version couldn’t offer. Skrill has a wide selection of services not only for financial organisations but online casinos too. Skrill has introduced top-notch safety procedures to keep users’ data on lock.
The EcoPayz e-wallet represents a famous provider of international transaction solutions. It offers swift and convenient deposits and payouts across the world. EcoPayz was set up in the UK, and it covers a lot of European countries offering its services. In addition, the wallet has become an established member of the Mastercard company.
There are 6 levels of membership in EcoPayz. It is a tier-based system, so in order to claim all beneficiaries of the wallet, you have to come up through the ranks. From Classic to VIP, the limit of transactions expands every time you make a step forward.
Other Online Casino E-Wallets
Away from the most famous digital wallets, one may find some brand new payment options that haven’t gained an audience yet. Here are several names:
- Trustly. The Trustly wallet was established 13 years ago in Sweden. Since those times, the company has expanded their presence to almost ten offices on 2 continents. They process no less than 8 million payments each month. LuckyDino and NordicBet Casino are among Internet gambling platforms that accept Trustly
- Zimpler. This is one more company whose roots originate from Sweden. The organisation was found in 2012, and nowadays more than 200 online casino venues use the Zimpler payment option.
- MuchBetter. On the one hand, the MuchBetter e-wallet company is a newcomer to the market. On the other hand, it is a go-to option to use in India. Deposits occur in an instant, whilst the process of withdrawals can take 24 or 48 hours. Limits for cashing funds in are meagre. Additionally, you may use a special mobile app to control funds.
All things considered, there is one electronic wallet we haven’t mentioned in the article. Maybe you have already guessed what is missing here. It is Paypal, of course. So, let’s have a few words on this particular online casino payment option.
PayPal Electronic Wallet
So, the PayPal e-wallet constitutes a leading payment system for real money transfers. The wallet is arguably the most popular deposit and withdrawal method available in the vast majority of countries. The system is widely used in the gambling industry as well.
Here are some striking facts about the PayPal electronic wallet:
- It is accessible in more than 200 territories
- 56 currencies available to cash out money in
- Over 200 million users actively exploit the wallet
- Elon Musk is a co-founder of PayPal
- PayPal has profitable partnerships with Visa, Mastercard, Facebook and Google
It is pretty simple to become a PayPal user. Firstly, you just need to enter the website and provide your personal telephone number to pass the identification procedure. After that, you will have an opportunity to link either a credit card or a bank account to a PayPal account.
Advantages and Disadvantages of PayPal Online Casinos
If PayPal was an ideal electronic wallet for casino transactions, nearly all punters would take advantage of utilising this payment system.
- Rapid withdrawals
- High-standard security
- Customer-friendly in terms of convenience
- Occasionally you will have to pay out small fees
- Limited number of jurisdictions. It implies a punter can use PayPal to play at online casinos provided that a player and PayPal have the same jurisdiction. In other words, PayPal is a jurisdiction-based e-wallet
To sum up, modern online casino players are more inclined to use e-wallets and cryptocurrency as their payment methods at online gambling venues. The speed of deposits and withdrawals, security and user-friendliness are significant factors for selecting an e-wallet over a credit card.