iGaming is a growing industry, no matter which way you slice it. A cursory glance at some data will reveal that online gambling has grown drastically in the past decade. Today, billions are being generated from online casinos, all around the world.
One of the primary reasons for the success of online gambling in the 21st century, has to do with the different deposit options available to new and existing players alike. In land-based casinos, you really have two options: cash or credit. That is not the case online.
Credit Cards
Credit cards remain a staple of e-commerce, even today. Though we have so many different options to choose from, most people stick with credit cards, making these plastic little rectangles the most popular payment method at any online casino.
Certainly, there are some gambling websites that don’t allow credit card-based payments. However, there are few and far between them. Most casinos, do allow credit cards from VISA and MasterCard. If you are curious to see an example, you can signup at Christchurch Casino, and try your hand at some of the most popular gambling games online.
Digital Wallets
Digital wallets, aoften called electronic wallets (simply e-wallets sometimes as well), are financial transaction applications that are capable of running on any electronic device with an internet connection. One could access them from computers, mobile phones, and tablets. The purpose of a digital wallet is to store and share money, which can be applied to both cryptocurrency and FIAT currency.
Recently, online casinos have enabled the use of digital wallets. In doing so, they’ve introduced a new and simple way to make wagers. E-wallet payments are usually much faster than credit card payments. They are also quite safe and reliable. However, the major downside is that digital wallets require hefty fees for making deposits and withdrawals, which most gamblers want to avoid.
Cryptocurrency
A rising trend in online gambling is using cryptocurrency to make deposits. In fact, the practice is so popular that crypto-only casinos have begun popping up throughout the internet. The problem with these sites is that, while many are licensed, a lot operate without any sort of regulation. Therefore, players can’t put their trust in crypto casinos.
However, even regulated, licensed, and mainstream gambling sites have begun embracing cryptocurrency. You can now gamble at any website using Bitcoin, Ethereum, or Tether. Some may also allow Litecoin and Ripple as well, but you’ll be hard-pressed to find a site that offers payments with some of the lesser-known cryptos around.
Bank Transfers
Finally, we have to look at direct wire transfers or bank transfers. By making a deposit directly through the bank, some players forego the trouble of high transaction fees. However, direct bank transfers do come with their own disadvantage: the long processing time.
Not only does the casino have to process your transaction, but now the bank does too. Which means that direct wire transfers, more often than not, have the longest processing time out of any payment method. Still, if you can deal with that, you will undoubtedly get a lot out of gambling with bank transfers directly.
