A Look into Online Casino Players’ Payment Preferences

The number of payment methods available to online gamblers is constantly growing. Online casinos are willing to go an extra step to attract the crowds, and one of the most common strategies is to add as many payment methods as possible.

Despite all the variety, the majority of players stick to a couple of favourites. That stability is due to the fact that online players are generally looking for the same things:

• Safety and reliability — players want to know their money is safe at every step of the process;
• Fast payments — near-instant withdrawals are quickly becoming a staple of high-quality casino entertainment;
• Cost-efficiency — fees are avoidable, but only if one uses the right payment method;
• Convenience — ease of use and instant accessibility are often determining factors in choosing a payment method;
• Reasonable payment limits — keeping payments user-friendly is a must. 

There are only a few methods that tick most of the boxes.

What Payment Methods do British Gamblers Use? 

Compared against the iGaming sector worldwide, the United Kingdom can boast one of the more robust and high-profile status, with casino websites in the UK primarily featuring e-wallets and payment apps. They are easy to use, and above all, players can rely on them outside the gambling domain. The processing times rarely extend over 2 business days, and there are almost no fees involved. 

The main downside of e-wallets and payment apps is safety. If one is using big players on the market, there is nothing to worry about. Smaller payment apps, on the other hand, require a thorough evaluation in terms of upholding privacy,  providing fair user policies and ensuring all-around support.

Banking cards are convenient and widely used. More than half of the transactions in Great Britain are done via debit cards, so despite a couple of hiccups players experience along the way, they remain a fan-favourite. 

Gamblers looking to access the rich free spins collection will sometimes use traditional methods, such as banking cards. Although safer than e-wallets and payment apps, they are slow and often have higher payment limits. While an e-wallet cashout takes no longer than three days, a bank card transfer can take up to seven.

The variety of payment methods is remarkable, yet online gamblers must make compromises. There is no payment method that will be universally popular, as just like when it comes to games, every player has their desires and preferences. 

Trends in Online Casino Payments

iGaming experts claim that crypto gambling is the next big thing, but players still stick to traditional payment methods and fiat currencies whenever possible. It looks as if safety and stability are, for many of them, much more important than privacy and same-day withdrawals. 

Payment options that combine different methods and serve as the bridge between the user, the payment provider and the online casino (such as Google Pay and Apple Pay) are showing significant growth. The contactless boom ignited by the COVID-19 pandemic is still growing strong, and online gamblers, now more than ever, choose payment gateways and apps. And these innovations show no sign of stopping.