Alternative Payment Methods: Should You Use Them By Default at Online Casinos and Sportsbooks?

Just like in any purchase of a good or service, the online casinos and sports books accept several methods of payment, which are communicated to the users from the beginning or during the registration process. By comparing the methods accepted by the online platforms with the methods usually implemented in paying for goods in daily life, each user can establish their best fit. In the last few years, the trend is to use more advanced and technology-friendly ways of paying. So, let’s see what are the most used alternative payment methods.

Bank cards 

For many years now, bank cards, credit or debit, have been a very useful paying instrument. They are still the number one method accepted and used, because the highest majority of online users have at least one and are frequently using it. The bank cards are connected to the bank accounts in local or foreign currency. 

By using bank cards, the players are benefiting from a high level of security, as the bank system is providing quality encryption and each step of the paying process is transmitted through the bank and needs to be approved by the user. When playing roulette online, for example, the online casino is requesting an initial deposit. When transferring the money to the online account on the casino platform, the user of the card receives a notification from his own bank asking to confirm the amount and the details of the payment. In this way, no amounts of money are taken from the account without prior confirmation. 

e-Wallets

In recent years, e-wallets have become a very usual method of keeping money available digitally. Using e-wallets allows fast withdrawals, even instantly. Similar to bank cards payments, this is also a safe method to use when paying online. The most commonly used types of e-wallets already have familiar names: PayPal, Neteller, Skrill.

Cryptocurrencies

One of the most recent development steps in the cryptocurrencies trend is that they tend to be accepted more and more for payment. Therefore, many online casinos and betting sites already use cryptocurrencies as a method of payment. Despite their risk of volatility, due to the lack of regulation on the market, cryptocurrencies like Bitcoin, Litecoin, Etherium have already earned their customers. 

One of the main benefits of paying with cryptocurrencies is that they are processed much faster than other alternatives. The users just need to check initially that the page they are using is accepting the cryptocurrencies and later on, during the registration, to connect the crypto wallet to the online platform for instant transfers.

Bank transfer

For more traditional users who like to take the initiative of transferring the deposits, bank transfers are as popular as any other online payment tool. By ordering the transfer to the bank, each user can control the entire process of delivering money online and ensure that the destination of the payment is accepted by the bank. In general, banks have no limitations or restrictions to transferring funds from a user account to a casino.

Prepaid cards

Even if this payment method is not so much used, it is an alternative, especially for the users who are not willing to put their bank directly in connection to an online casino or a sports betting platform. The card is loaded with money, for a certain amount, and can be used to pay until the funds are over. 

There are many online casinos out there and many utilities for the payment methods in place. In order to benefit the most from using any type of online platform is to make sure from the start that the payment and withdrawal system used is efficient, fast and adapted to the users. Only by checking that, the users can ensure a complete and controlled experience on the website.