Payment systems used in online casinos
Today in the world, there is no country in which there would be no gambling person. Even African tribes, living separately and according to ancient ways, love to test their fate. If you ask a question to a modern person what kind of gambling he knows, anyone will answer without thinking: casino games. Businessmen began to realize that gambling topics were in demand and began to open online gambling establishments one by one. Each new casino is unique, with its strengths and weaknesses, but they should have two common important details – a license to carry out gambling activities and connected payment systems that allow you to quickly, safely, and safely transfer money. An official permit allows players to feel safe and reduce the risk of irretrievable loss of their finances. At the same time, gambling establishments also benefit from the availability of a license since they have many opportunities, ranging from the opportunity to purchase licensed software to the opportunity to collaborate with reputable business partners. Despite the fact that each licensed online casino wants to be different from its competitors, they still have a number of common characteristics:
- Legal permission to carry out activities and pass annual quality control of the services provided;
- Payment systems in a casino with a license are diverse and, therefore, affordable for each player;
- Licensed software that passes RSC quality checks;
- High-quality support for players;
- The fight against fraud and money laundering through reliable data encryption, financial transactions, and the presence of mandatory verification (identity);
International online casino licenses
There are two types of licenses that differ in geographical terms – international and local (valid in the territory of one country). To work on the Internet site, casino operators choose international licenses of the countries of offshore zones since they provide the right to work in many countries of the world with minimal tax deductions. There are several jurisdictions that are common in online gambling. Such are Curacao, Alderney, Maine, Malta, Costa Rica, Gibraltar, Kahnawake, and others. Obtaining permission to carry out gambling is a rather long and complicated process. Depending on the chosen jurisdiction, it can also be financially costly. Under the license with which the online casino works, an experienced player can immediately understand what to expect from him. Curacao provides a single license for all types of gambling activities – live casinos, lotteries, sports bets, and poker. Obtaining such a license takes a minimum of time and provides a minimum of tax deductions, which is why many casino operators use this license. Malta is one of the most prestigious jurisdictions, opening all doors to operators in the European Union. A casino operating under a Malta license receives a number of benefits and advantages for its business. In such a gambling establishment, you can find payment systems that are common among residents of the European Union. Gibraltar is quite demanding on the licensor; therefore, it is not so common. But many players may note that there are practically no problems with online casinos operating under this license. One of the requirements that the liberal legislation in the gaming industry makes is mandatory testing of the software that the operator works with. In exchange, the operator gets the opportunity to cooperate with many European banks and companies, which affects the high quality of financial customer service. The Gibraltar-licensed casino integrates the best European payment systems. Kahnawake – has been issuing licenses since 1996 and requires gambling establishments to pay players, a multicurrency account, reliable software, and full protection of the player’s rights.
Online casino payment systems
Ince, the main attribute of a casino, is a license, the most important detail in the form of payment systems should correspond to the status of an official institution. Each gambling house, which conducts serious activities and is fully licensed, seeks to add the maximum number of payment instruments. As a rule, the administration of the institution is very selective in those payment systems that it selects for the implementation of payment transactions. This is explained by the fact that it is important for the operator to maintain a balance of convenience and benefit both himself and the players. It is unlikely that a player will agree to make a payment for playing for real money in a casino if the size of the commission is unreasonably large.
Payment systems in casinos are divided into the following types:
- Bank credit and debit cards – Visa, Mastercard, Maestro, American Express. With the help of this type, all payments occur quickly enough, but there may be problems with the conclusions. For example, winnings cannot be withdrawn to Mastercard, and transfers to other cards can last 5 days. However, this does not bother many since today, there are hardly any people who do not have a bank card. UK players can not use Credit Cards;
- Electronic wallets – Yandex.Money, Qiwi, Webmoney, Skrill, ecoPayz, Neteller, and others. The most popular type of payment system due to the speed of replenishment and withdrawal, small fees, reliability, and prevalence;
- Vouchers (prepaid cards). Cards UCash, Neosurf, Paysafecard, Entropay. Great for replenishing an account, but there is no way to withdraw funds from them. Despite this fact, vouchers are also a common means of payment, especially for players from Europe due to the anonymity of payments;
- Bank transfers – Sofort, Trustly, Wire Transfer, etc. They are popular due to the lack of commitment, the convenience of payments (there is no need to go through the verification process in order to use the system;
- Cryptocurrency services. More and more people are choosing to play cryptocurrency. For this, services began to develop that fast offer payment, minimal commissions, and complete anonymity. One of the most popular payment gateways for depositing and withdrawing funds using cryptocurrency is Coinspaid;
- Mobile payments. A fairly convenient way to replenish the account, but not suitable for withdrawing funds.
Many licensed casino operators understand that in order to attract a constant flow of customers, they need to make their establishment convenient for using and conducting financial transactions. To do this, they introduce a dozen payment options of all or many types. Payment systems integrated into online casinos can bring not only benefits but also some inconveniences (for example, the impossibility of withdrawing funds, commissions, tracking the player’s financial transactions by the tax authorities, etc.), so it’s important to familiarize yourself with each of them in more detail so as not to worry about your money.