With the development of online casinos, many different payment methods have emerged.
Some people prefer to use different payment methods because they are unsure about their safety, while others prefer to use their traditional credit or debit cards and play with peace of mind at a casino site they trust.
Whichever category you fall into, today we are going to tell you about the new payment methods on the rise for the betting industry.
You can rest assured that there are plenty of payment methods available and that more will become available over time.
You will find one that suits you the best. If you are thrilled to learn about this topic more, stay with us and keep reading.
The growth of the gambling industry has led to the emergence of brand new sports betting sites and other online casinos.
Having so many sites can be a good thing for those bettors who want to choose the best online betting site among them, but it may not be so good for those bettors who have just started betting.
If you don’t know where to start, you can read reviews about online casinos or get help from Betpack.
Betpack reviews and rates different online betting sites for you.
Let’s talk about new payment methods on the rise for the betting industry.
Prepaid cards
Prepaid card options such as Paysafecard and Astropay are increasingly popular among players who are concerned about their security or simply want to remain anonymous.
Using this method, players can spend at gas stations or grocery stores offline or through the site they are using.
Prepaid cards have evolved a lot since they were first introduced and are similar in nature to e-wallets. But they are designed to be used only for depositing money.
These cards are sold at specific prices, ranging from $5, $10, or $100.
Each card has a unique code that indicates its value and distinguishes it from the others. For example, Paysafecard and Astropay have a 16-digit code.
After purchasing the card, it can be used to make purchases on any compatible site.
Thanks to these online codes, players can put money into their accounts in different ways.
Cryptocurrencies
Cryptocurrencies are perhaps the most important thing we need to focus on.
Cryptocurrencies, which are gaining popularity all over the world, are not left behind in the betting world.
The most popular of these is Bitcoin. Bitcoin has become a modern payment method for completing online transactions.
Many e-commerce sites as well as most casino sites accept bitcoin. Much like an e-wallet system, players can deposit or withdraw funds through their Bitcoin wallet.
Nowadays, many players prefer Bitcoin over credit cards or debit cards because of its advantages.
Cryptocurrencies are not only a secure method but also suitable for large sums of money.
The reason why we say secure is that they use a decentralized blockchain system, which means that any of your transactions cannot be tracked.
Among the fastest growing cryptos on gambling sites are Bitcoin, Litecoin, Ethereum, Tether, Dogecoin, and Bitcoin Cash.
There are many other coins, and most online casinos accept them.
E-Wallets
E-wallets are a method that has become popular around the world and is supported by most online casinos.
After the introduction of PayPal, many of its counterparts followed and contributed to the development of e-wallets.
Skrill and Neteller are some of the options that continue to be popularized on gambling sites.
In addition to these, there are a few other e-wallets that are also used in the gambling industry.
Some of these include ecoPayz, Trustly, Apple Pay, WebMoney, Much Better, Zimpler, Interac, and many more.
One of the biggest reasons for the popularity of e-wallets is that they do not require a bank account and allow you to make transactions instantly.
Online casinos that use Skrill and Neteller usually pay out within a day, but options such as Paypal require a valid email address to start making transactions.
Players can also send or withdraw money to and from their e-wallet via cards, cryptocurrencies and other payment methods.
These days, almost all online casinos accept these e-wallets, which are as secure as bank transfers.
Other payment methods
This list would not be complete without mentioning the traditional payment methods that have always been part of the industry.
One of the most traditional payment methods is credit or debit cards.
By linking your card to your bank account, you can deposit and withdraw money as you wish.
Bank transfers, also called wire transfers, are also among the traditional methods; for this to happen, wire transfers use the bank network, and you need to have a bank account to be able to take advantage of this option.
