There are way more online casino users now than before, which is no surprise, considering the high number of operators. Many players gamble regularly by using small amounts of money, but there are also many high rollers.
Despite the fact that there are many differences between the two types of gamblers, we can see certain similarities. There’s no arguing that the payment methods are among them because both types of clients make transactions.
Bank Transfers
If you are an old-school gambler using brick-and-mortar operators for years, there’s a good chance you will want to make a bank transfer. Despite having numerous drawbacks, this continues to be the preferred payment solution for a lot of people.
The perks of relying on this option are the limits. High rollers appreciate it because they are able to make much larger financial moves than usual.
The drawback of using a bank transfer is that some transactions can cost a lot of money because there’s almost always a processing fee. Depending on the site you are using, it may be up to 5% of the amount, so be prepared to pay large sums.
Credit and Debit Cards
Aside from bank transfers, many people also prefer using credit and debit cards. They have some advantages, such as the fact that most users are familiar with them and know how they work. Furthermore, high rollers and regular customers don’t need to create accounts with third-party payment systems.
Sadly, cards also have many drawbacks that users forget about. Starting with the fees, some businesses have special fees for clients who transact with these options. Consequently, users may not always get the full deposit and withdrawal amount.
Another potential problem that clients must keep in mind is related to security. Although the operator does everything possible to provide secure transactions, gamblers can “expose” their bank account when transacting with cards.
Last but not least, some governments, such as the one in the UK, have banned credit cards from iGaming. As a result, gamblers must look for alternatives if they do not want to get in trouble.
Cryptocurrencies
After addressing the first two types of deposit/withdrawal solutions, it’s time for the fan-favorite option – cryptocurrencies. Loved by casual and high rollers alike, these payment gateways have exploded in popularity in recent years. They have gained so many fans worldwide that we even have access to exclusive crypto-gambling platforms.
Different companies will grant users access to multiple digital currencies. Many brands only add the most sought-after options, such as ETH and Bitcoin. Others, however, choose to focus on multiple altcoins.
Cryptocurrencies have two main benefits regarding online gambling – security and anonymity. While the latter depends on the specific currency you use, there’s no arguing that digital currencies are secure. The fact that regular gamblers and high rollers do not have to worry about their security is usually enough.
Another benefit is that you can experience various games and services. Not that many sites have such exclusive features, but this will change.
E-wallets
There is no arguing that e-wallets are the preferred alternative for gamblers who want to deposit and withdraw cash. This is a term that combines several different payment solutions, such as:
- PayPal
- Neteller
- Skrill
- ecoPayz
There might be even more digital wallets to choose from, but most work very similarly. The idea behind them is to offer safe deposits/withdrawals because it does not let iGaming operators have access to clients’ bank accounts.
Despite the many advantages of transacting with these payment gateways, there are also several drawbacks. For example, some of them can’t be used as withdrawal options. Also, many casinos may not allow a given player to obtain a bonus if gamblers deposit with specific e-wallets.
Mobile Payment Systems
High rollers are definitely not interested in using any of the mobile payment systems, but many regular gamblers like them. Making payments using mobile devices is popular in many parts of the world because it’s very convenient. Usually, users do not need to use any extra tools because they can transact from their phones.
The only real downside of these payment methods is the limits and the fact that they’re only available for deposits. In most cases, gamblers can add small amounts of money and won’t be able to make a withdrawal.
It’s also worth knowing that mobile payment systems are only available in some countries, so many casino whales won’t have access to them even if they want to.
Cash Terminals
Lastly, certain users can make deposits using cash terminals. This is a land-based payment system that requires a given player to go there and use cash. Once done, the specific cash terminal will top up clients’ online casino accounts.
Needless to say, this is one of the most inconvenient ways to transact in an online casino. Since most high rollers wager with thousands of dollars, it’s also not something that they will be interested in. Instead, this payment solution is designed for people who do not want to use any of the digital payment systems.
