Online casinos are now considered the future of the gambling industry. These sites are far superior to brick-and-mortar casinos in every sense of the word. Casino sites provide players with greater security, feature numerous bonuses and promotions, have hundreds of quality games by some of the world’s best game providers, as well as a wide plethora of payment methods.
After registering at an online casino, you will be required to deposit funds into your account to claim the featured bonuses, like the welcome offer. Moreover, you will have to do the same if you want to enjoy the games for real money. Online casinos have a rich game library, so depositing money is a must if you want to play new slots or table games.
Why a variety of payment methods matters?
Apart from being flexible with your options in terms of depositing and withdrawing money, there is one other reason why every reputable online casino should feature several payment methods – market restrictions. Here’s an example. One of the world’s most popular online casino payment methods is credit cards.
However, not every player from every country will be able to deposit/withdraw funds with one method. Considering the fact that online casinos have a global reach, they need to cater to individual preferences. They do that by featuring a list of payment methods, rather than just a few chosen ones.
What are the most popular payment methods?
The preferences in terms of payment methods vary from one country to another. However, on a global scale, some of the world’s most popular payment methods include credit and debit cards (VISA, MasterCard, Maestro), Neteller, Skrill, Trustly, PayPal, Paysafecard, and Klarna. Cryptocurrencies have also made a name for themselves, and since they are fully optimized for online use, they suit both players and operators.
For example, by using the benefits of Bitcoin, Ethereum, Litecoin, Dogecoin, and Ripple, players will be provided with secure and instant deposits and withdrawals. Not only that, but they will escape the possible fees that are charged by the online casino or an external source. E-wallets like Neteller and Skrill are secure, and they provide players with instant payments, but they might be subject to fees.
Moreover, some online casinos do not consider them eligible for claiming the featured bonuses. However, cryptocurrencies are not like that – they come without fees, provide instant payments, and are always eligible for the featured promotions. Credit and debit cards are also very secure and the most commonly used payment methods at online casinos. Deposits are instant, fees are not charged, and the processing time for withdrawals is short, around 1-3 business days.
How many payment methods should an operator feature?
So, the answer to how many payment methods a reputable casino should provide depends on whether the online casino has a local or global focus. If the focus is on a specific region, the number of payment methods shouldn’t be big. Instead, operators should feature the most commonly used methods in that region.
In these cases, quantity does not equal quality. Instead, it is the opposite – the online casino should have a handful of specific methods for a designated region. But, if the online casino has a wider focus and targets players from multiple countries or wants to have a global reach, then the rule of ‘the more, the better’ applies. That is the best way to meet the preferences of players from various countries.
Even though some methods are restricted, registered players will be extremely flexible with their choices by having tons of options to look at. After they carefully read the bank policy and see the minimum and maximum deposit/withdrawal amount, whether fees are charged, and what the transaction processing time is, they can make a decision.
