There were times when people were able to gamble only when they were physically in a casino. Nowadays, the situation is quite different from the past. People play online games, casino games and do much more activity from their phone just by being online from the ease of home. With the development of online casinos, now it’s easily accessible from any corner of the world where the internet is available.
Emergence of internet and development of casino:
As the latest technological revolution is happening, new methods of payments are also emerging. Alternative payment options were introduced at this time, and both players and online casinos around the world have come to rely on them. They greatly facilitated gaming by enabling users of online casinos to deposit and withdraw money using mobile devices.
Alternative Payment Methods:
Alternative Payment Methods are a system which is different from traditional ways of transactions, which excludes the old ways of transactions. For example, cash or debit-credit cards etc., are some of the options of traditional methods to look for.
When we talk about APM, then it includes, E-wallet, bank transfers, cryptocurrency or any other digital method of payment are known as Alternative Payment Methods.
Reason to use APMs:
It is really a good thing that we have a lot of options to choose from, in case we don’t like one, we can shift to another. Also, these are very useful for players who don’t like to use the traditional methods of payments because of some concerns.
In some places, jurisdiction also doesn’t allow for payment by the method of credit card in casinos.
There are numerous varieties of alternative Payment Methods to incline customers towards the casinos to be one of the top competitors in the market. Hence, it is important for casinos to understand the needs and wants of customers, and in a parallel way, offer them the latest technology.
Top Rated Latest Alternative Payment Methods:
Almost every player has the knowledge of the casinos and latest payment methods available for transactions in the whole world. Luckily, there are a lot of other payment methods which are not that much famous, but they can also be used for depositing money in an online account or to withdraw winnings from casinos.
-
E – Wallets
In online gaming, the E-wallet is a prominent form of transactions, as at least one of the E-wallet is always for this purpose. There are several different e-wallets available to gamblers. The following is a list of a few e-wallets that can be used for online casino banking:
- Paytm
- Paypal
- XFinity
- Skrill
- Neteller
Remember, these all are preferred methods for online transactions in casinos. The reason why gamblers like these methods is because they are inclined towards fast and convenient use, and that is what they get from these E-wallets. Apart from this, while making payments through these wallets, you do not need to expose your financial details to the operators, because the process of payment happens externally.
One more important reason is that online casinos don’t charge any extra fee.
-
Pay by Phone
In some of the countries worldwide, paying through phone is totally legal and accepted method in casino transactions. Though, there are restrictions on how this specific form of online casino depositing can be used. You won’t often be able to deposit big sums of money with it. Here are a few of the well-known pay by phone options:
- Phone Pe
- Apple Pay
- Boku
We can confirm from the above lines that it wouldn’t be a perfect option for a high stake player, however, as a casual player it is a good option. They don’t have to share their financial information or open other accounts in order to make payments. Pay by phone alternatives are ideal for you if you want to set financial restrictions and keep tabs on how much money you spend on online casino games. In addition, paying by phone is practical because it enables players to top off their casino accounts with a few simple clicks.
-
Prepaid Cards
Prepaid cards, also referred to as stored-value cards, are famous among gamblers. They are most of the times used by gamblers to make deposits at online casinos. They are different from regular debit cards in that they don’t require a bank account and let gamblers top up their accounts with cash.
There are different varieties of prepaid cards but the two most common are closed-system and semi-closed-system cards. Although they both have their own pros and cons, they both effectively let users deposit money with ease.
- Rupay
- UpayCard
-
Limitations of Prepaid cards:
Although it is a good option for transactions , there are some limitations. To be honest, this method is an excellent option for a beginner player but disappointing for high-rollers. One more thing is the withdrawal issue, you can’t withdraw from it.
Prepaid cards, on the other hand, are perfect for you if you’re seeking a banking option for an online casino that’s very safe, simple to use, and allows you to make deposits privately.
-
Cryptocurrency
Nowadays, cryptocurrencies are on boom since 2018, people are trusting so much on this block chain based technology. It is one of the latest transaction options, and in the past few years, its popularity has grown significantly.
The prominent cryptos are :
- Bitcoin
- Dogecoin
- Ethereum
There are a lot of cryptocurrencies to choose from. Because they are new in the market, people will take a bit of time to accept them as a viable option. That’s why in some casinos, you may have not seen that option on offer.
Fortunately, as more online casinos use cryptocurrency, that is probably going to change in the future.
Benefits of Using Alternative Payment Methods:
Alternative Payment Methods has a few advantages, not only for players, but also for casino operators. Some of them are as follow :
-
Easy account opening process
There is no hassle as it used to be before the advent of the latest tech. In no time, users will be ready to play the game.
-
Lower chances of payment failure
Studies show that APMs have lowered the payment failure chances by 25%.
-
APMs are much safer as compared to traditional ones.
In terms of security, it uses biometric methods, so it is now way safer than before.
-
Improved customer experience
As customers have the option to customize well they also enjoy the seamless experience of playing casino.
Conclusion:
In the end, I would like to conclude APMs as a great technological revolution for the casino industry. People get pools of options to choose from. In that way, we can observe the enhanced user experience. So choose your payment methods consciously and enjoy the online casino.