How to choose payment method for online casino?
When a player is deciding whether to join an online casino, payment methods can be a deciding factor. For that reason, it is imperative for casino operators to wisely choose which payment methods they want to add to their platforms.
There are several different aspects to take into account before deciding which payment method suits your online casino, and one of the most important ones is to consider several different payment types.
Another aspect you should pay attention to is the region. Namely, certain payment methods are used in specific regions, that is why casino operators should select a method that’s popular in the region where their casino operates.
Costs and transfer limits
Transaction fees can vary depending on the payment method, but they are usually small and normally don't exceed 2.5% of the transaction amount. Almost none of the casinos take commissions on the transactions made using debit and credit cards.
Normally, there are no limits on the amount of money that can be deposited or withdrawn from a user account, although some casinos can set the minimum and maximum thresholds on money transfers, depending on their policies.
Payment methods by region
In many countries gambling is illegal. This fact should be taken into consideration while deciding on payment methods available on your platform, especially since many of them imply the disclosure of the client's identity.
Online gambling merchant accounts
The online gambling industry has to continuously keep up with changing market trends, which is why being able to rapidly innovate should be a key objective for online gambling merchants.
Gambling has always been a profitable business but, now, with these activities dominating the digital world and being made available online and on mobile, the profits are sky-rocketing.
It is estimated that the global online gambling industry will be worth an impressive $1 trillion by 2021. The most significant growth can be seen in mobile gambling services, which are expected to further expand at a compound annual growth rate (CAGR) of 18.8% between 2017 and 2021.
So, the industry is not only growing but also becoming more and more innovative. Merchants can now take advantage of more advanced gambling credit card processing features such as faster deposits and withdrawals, 1-click payments, etc.
Contact us, we will get back to you in 48h with usually positive decision for opening the merchant account. In worst case few other steps should be taken in addition in order your website to be integrated with the payment gateway.