iGaming Payment Systems: Types & Features

The ability to choose a convenient payment system is a question that primarily interests players focused on real money betting. The casino experience begins with a deposit, which customers want to make as quickly and conveniently as possible. Moreover, they want to withdraw their winnings with minimal commissions and waiting.

That is why the best Gamblorium online casinos, aimed at long and productive work, offer proven, popular, and varied payment solutions. When initiating any casino payment, the user must be confident in its security – it especially concerns instant withdrawal options. The iGaming site provides a secure environment, connection, and privacy. Regular checks are carried out on these points by official state commissions. In turn, systems that process transactions from bank cards and e-wallets also comply with their industry standards and security protocols.

Features Of Real Money Casino Transactions

The payment system is an intermediary between the player and the casino operator. Having received a command from the user, the PS contacts the service and transmits payment data. Meanwhile, payment systems ensure stable and secure transaction stages. So, players who have at least once used web services to purchase goods are already familiar with the deposit. Withdrawals are always accompanied by system prompts. However, there are several features:

• Firstly, it is worth noting that each country has an individual set of payment systems. Of course, global payment solutions strive for the widest possible geography. For example, Skrill and Neteller can be used in 200+ countries – USA, India, Italy, Turkey, Germany, etc. The geography of iDeal is significantly narrower – it is available in 40 countries – the Netherlands, Austria, Canada, Czech Republic, Finland, France, etc. Also, each payment system works with a specific list of currencies.
• Next, follow the limits. Both the casino operator and the payment system offer individual minimum and maximum payment amounts. Of course, casino owners try to make their limits as comfortable as possible. However, it is essential to stick to the limits on the payment system side.
• Finally, players must explore the conditions for withdrawing money. Nodar Giorgadze recommends studying this aspect carefully before casino registration. For example, casino owners often make players use a single option for deposits and withdrawals. They may also limit withdrawals until the previous deposit/freebie is played back/used.

The online casino payment industry is constantly evolving – new trends are emerging. For example, these are Pay N Play online casinos. Here, the deposit replaces registration. All PNP casino transactions go through a payment gateway – a service that automates payment processing. They identify the player and process his/her deposits and withdrawals. There are only 5 payment systems that serve PNP casinos – iDeal, BankID, Brite, Trustly, and Zimpler GO. Gambling operators also often offer prepaid cards, billing payments, etc. All this is aimed at attracting a large number of players and increasing their loyalty to their services.

Types Of Payment Systems In Modern Online Casinos

With all the variety of payment systems, we can highlight the most popular ones:

• Bank cards. Casinos can accept payments and make withdrawals to debit and credit cards. Using bank cards to manage an account is one of the most common methods in most countries. Usually, these are Visa, MasterCard, and Maestro cards. However, most often, withdrawals are available to cards issued by banks in the player’s country of residence. Bank card casino deposits are instant and free. When using a card to withdraw money, players can wait up to 7 business days.
• E-wallets. This payment method is more flexible and convenient. The choice of wallets is huge – Skrill, Neteller, Wise, Monzo, eZeeWallet, Flexepin, etc. They differ in the speed of processing withdrawal requests – instantly – 24 hours. There is no commission for depositing or withdrawing money. Besides, the e-wallet account can be used to make purchases, money transfers, currency conversions, and other transactions. In most cases, opening and maintaining an account is free.
• Bank account. Some casinos use bank payments for deposits, but the majority of them use this method for payouts. So, the players can benefit from using Internet banking. Withdrawal of money is made to a bank account. This method has a significant advantage – a large limit. The main disadvantage is the transaction processing speed – up to 7 days.
• Cryptocurrency. With the active development of the crypto market, players often choose this method to deposit and withdraw money from the casino. This is facilitated by several advantages – the anonymity of payments, high speed of processing applications, low commissions, etc.

Naturally, a list of available payment solutions is a priority for players. Therefore, the wider it is, the more chances the casino has to get to the top and expand its customer base.

Should Players Consider The Payment Systems List When Choosing An Online Casino?

Yes, they should! Nevertheless, they should first explore the payment options that are familiar to them and that operate in their countries of residence. Besides, they should pay attention to:

• Minimum deposit amount.
• Minimum/maximum withdrawal amount.
• Payout limit per day/week/month.
• List of currencies.
• Fee details.
• Transaction processing speed.
• Conditions for withdrawing large jackpots.

If you have doubts about paying with cryptocurrency wallets, stick to traditional payment solutions. Note that e-wallets remain the fastest and transferring money to a bank card takes longer.