Evolution of online casino payment methods

The emergence and the ever-lasting expansion of online casinos allowed gamblers to enjoy their favourite games in a more convenient manner.

Apart from being able to access gambling games on the go and indulge in a higher number of games than usual, patrons also have a wider range of banking methods when playing online compared to land-based casinos.

Namely, payment methods are one of the most important things to consider when choosing a casino site. Today, there are dozens of different options at your disposal, from cheque payments to bitcoin transactions.

If you’re new to online gambling, it won’t hurt to know a thing or two about online casino methods and how they evolved over the years. That’s exactly what we’re going to be focusing on in this article.

Credit Cards Are Still Dominating

The majority of deposits and withdrawals in online casinos are still done via credit and debit cards. This is a method most people are accustomed to and it’s extremely convenient. Almost every casino operator out there accepts credit card services like Visa, MasterCard, and American Express.

Credit cards have been present in online casinos since the mid-90s and they show no sign of being overshadowed by other methods.

Bank Wire Transfers and Cheques Are Outdated

Back in the day when online gamblers didn’t have many options to choose from, they used direct bank wire transfers and cheques. This method is still in use due to its high-level security and the fact that some older players are not accustomed to using new methods.

However, bank wire transfers and cheques have one major disadvantage — the time it takes to deposit money in a casino account or cash out your winnings. Over the years, this option became by far the slowest online casino payment method; you can sometimes wait for weeks for the payment to be processed.

E-Wallets Are the Hottest Thing

In the last decade, many casinos recognised that e-wallets are becoming the online payment option of choice for a lot of people. Setting up an e-wallet account is easy, and the payments go through much faster compared to other traditional options.

Therefore, it is common that an online betting site offers several different e-wallet services, the most common ones being PayPal, Neteller, and Skrill.

Mobile Phone Bill Payments Are the Fastest Way to Start Playing Slots

Video slots are the most common types of games seen in online casinos. Nowadays, a lot of people prefer playing slots on their mobile devices. As a matter of fact, mobile slots account for almost half of the activity when it comes to online gambling.

Therefore, phone bill payments are the most convenient way to enjoy video slots on your mobile device. Through a dedicated service like this one called Boku, you can set up an account in minutes and start playing your favourite slot titles. Boku is the leading mobile payment option for online gambling since players find it incredibly convenient.

Cryptocurrency – a New Age of Online Payments

During the last few years, crypto-craze has shook the world of finance. Online casinos were quick to adapt to this new form of payment and started offering Bitcoin and other popular cryptocurrency options to their players.

Cryptocurrencies are arguably the best way to perform online casino transactions nowadays. It is fast, anonymous, extremely secure, and casinos usually allow higher withdrawal limits when you select this option. Cryptocurrencies are still not that common in web-based casinos, but they are slowly starting to catch up.