In the gambling world, payment systems are very important. They are the drivers between the online casino and the player. Each payment system has its advantages and disadvantages. Also, players make decisions about choosing one or another payment system based on their preferences and capabilities.
Let's consider a set of the most basic and standard payment methods that can be found in any online casino.
Globally, they all can be divided into three large groups.
- The first group is plastic cards.
- The second group is electronic wallets.
- The third group is crypto-currencies and other options.
Plastic cards. The undisputed leaders in this group are VISA and MasterCard. For many years, these brands are synonymous with plastic cards and are among the most recognizable brands. As a rule, plastic cards are the easiest way to deposit (and withdraw money) to/from a casino, poker room or bookmaker office. However, plastic cards have one disadvantage - all your transactions are accessible to banks and supervisory structures, so there is no anonymity here. Moreover, very often, countries block transactions to/from plastic cards to/from online casinos.Electronic wallets.
Electronic wallet is a smart card or other electronic media with a built-in chip which allows you to store electronic money and make various payments. We'd consider the most popular options in this category.
Skrill is one of the most popular payment systems that operates in 185 countries and supports payments in 33 currencies.
Neteller is another one option you can use to make electronic money transactions. The company serves customers from more than 200 countries, including Belarus, Russia and Ukraine.
EcoPayz is considered to be one of the oldest payment systems, as it has been providing services since 2000.
Using electronic wallets to make transactions is a quick and easy way to transfer your funds, while receiving bonuses, as many online casinos offer free spins and deposit bonuses for using these methods.Crypto currency and other options.
Crypto currency is digital money created by users of special peer-to-peer networks. Crypto currency isn't associated with real currencies, and their number is initially limited by the algorithm.
Let's talk about some of the most popular crypto currencies familiar to any online casino player.
Despite a high level of competition, Bitcoin takes a leading position among all crypto currencies, having about $65 billion. This success can be explained by the fact that Bitcoin is protected and not controlled by any financial institution.
Equally important crypto currency is Ethereum which is connected to the Blockchain system. All data on transactions is stored on a number of PCs that are connected to one single network. Each of these computers is anonymous and has the same access levels.