Internet Casino is a good option for those who want to quickly set up a profitable online business. Such web projects steadily gain popularity among gamblers.
To make your online casino a success you need to integrate popular games by credible developers and, no less important, to provide users with easy and convenient ways to make payments and withdraw winnings.
With the ever-growing number of gambling sites, the expectations of casino visitors are similarly getting higher. To attract players and win their hearts a casino needs to feature a selection of methods to perform money transactions.
The most popular payment methods are
Credit and debit cards
Payment systems of mobile operators
Prepaid cards, vouchers
Bitcoin and other cryptocurrencies
Additionally, it's worth noting that among payment methods not relying on Internet access the most popular is direct bank transfers.
To make it easier for you to decide which payment methods will better fit your customers' preferences, let's take a more detailed view.
Credit and Debit Cards
This is the simplest payment method well familiar to anybody who ever made purchases online. The time needed to deposit money on a casino account using this method doesn't exceed half an hour, and it takes about 48 hours or less to withdraw winnings.
The most often used credit cards are:
Digital wallets are by no means less popular than credit cards, taking into consideration that they often offer better terms. Money deposits using digital wallets can be done instantly and withdrawals take less than 24 hours. The minimum deposit size can vary for different online casinos.
The examples of Digital Wallets are:
PayPal is one of the biggest online payment processing platforms. It's popular especially because of its high level of security.
PayPal users normally don't need to worry about the safety of their personal data, as well as they can be assured that the money they send will successfully reach their destination.
Mobile Payment Options
Mobile phone accounts are commonly used to make online payments. In the Pay by Phone method transactions are done instantly, and they are normally secured by two-factor authorization - usually, an SMS confirmation code.
Prepaid Cards and Vouchers
This method of depositing money on the casino account is a good fit for professional gamblers. The reason is that it makes it easier to control daily gambling expenses and imposes limits on the overall amount of money invested in the casino.
The most popular platform providing this service is Playsafecard. It's recognized by the most major online casinos, and it's not the only reason why it's popular among dedicated gamblers. Among its other advantages are:
Money transfers made this way are anonymous, and the sender's identity cannot be disclosed by third parties.
Transactions are done instantaneously.
A user can choose a card denomination most relevant to the scale of his gambling activities.
There are no restrictions imposed by the user's geographic location; payments can be made from any place in the world.
Vouchers can be bought online and they stay valid for 12 months starting from the moment of purchase. The company offers 4 types of vouchers with denominations €10, €25, €50, and €100 respectively. Keep in mind that the final sum can depend on the buyer's country of residence and the currency used to make a purchase.
The only downside of this method is that not all the casinos accepting money deposits through vouchers let users transfer winnings on them.
Bitcoin and Other Cryptocurrency Payments
Cryptocurrencies are gaining popularity as digital assets and a means of exchange, and a growing number of casinos encourage the use of cryptocurrencies by their clients.
Cryptocurrencies are not subject to any authority or legislation. One of the implications is that cryptocurrency users are not required to get through the identification process, so their transactions are effectively anonymous.
Except Bitcoin, another popular cryptocurrency is Ethereum. The latter has higher transaction speed, and it's considered more secure.
It's important to keep in mind that cryptocurrencies are highly volatile and their value in relation to the traditional assets can experience sharp fluctuations in short periods of time.
Offline Payment Systems
As a method of depositing money on the online casino account, direct bank transfers are less popular, mostly due to the fact that in many countries gambling and online gambling, in particular, are illegal.
Another downside is that the procedure can take a substantial amount of time. To initiate a money transfer the sender has to visit the bank personally and submit the request form. Then it takes time to process the request, and only after all the formalities are completed, the money is sent to the casino account. As opposed to the other methods described above, direct bank transfers can take several days to be accomplished.
Costs and Transfer Limits
Transaction fees can vary depending on the payment method, but they are usually small and normally don't exceed 2.5% of the transaction amount. Almost none of the casinos take commissions on the transactions made using debit and credit cards.
Normally, there are no limits on the amount of money that can be deposited or withdrawn from a user account, although some casinos can set the minimum and maximum thresholds on money transfers, depending on their policies.
Payment Methods by Region
In many countries gambling is illegal. This fact should be taken into consideration while deciding on payment methods available on your platform, especially since many of them imply the disclosure of the client's identity.
To avoid legal problems, it's always a good idea to include cryptocurrencies as a payment method. It ensures both that transactions made this way are not subject to regional restrictions and that casino customers will have an option to remain anonymous.
Similarly, the complete anonymity of money transfers can be achieved through the use of prepaid vouchers.
Our Main Advantages
BGS Casino Management Syste
Setting up an online casino, you may face the problem of choosing payment methods most relevant for your target audience. At this stage, it's important to understand the pros and cons of different payment methods, as well as to have some idea about the legislation of countries, where your online casino will be accessible.
We can make it easier for you by offering our professional assistance. Contact BGS, and our experts will choose and integrate the optimal selection of payment processing tools, taking into consideration all the aspects and nuances of your business, as well as your target audience specifics.
This is by no means the only reason to choose us. Among other advantages of working with us are:
We will help you to build an excellent online gambling platform complete with the selection of popular games, and we will continue to provide support after the project is finished. You can always contact us with any problems you may have, and we will quickly solve them.
We offer gaming software from the leading developers. All our software providers are licensed and guarantee an overall quality and a high level of security of their products.
Our management system with its intuitive and user-friendly interface will assist you in supervising platform activities, allowing to quickly identify and solve potential problems
While choosing games for your online casino, you can always try out their demo versions that we offer for free.
Do you want your clients to make money deposits without any hurdles and delays? Contact BGS!