Peace of mind is coveted while gaming, and especially so when money is involved. It enables players to immerse their selves more fully and improve their chances of being successful. After all, a big part of the fun is winning. There is no consolation trophy when placing bets. Security, waiting times, and restricted options can all contribute to a feeling of discomfort. As such, more and more gamers are turning to new payment methods to deposit and withdraw their money. These have marked benefits over the more traditional banking options.
E-Wallets, AKA Digital Wallets
A fintech product online casinos have allowed gamers to utilise is e-wallets, also known as digital wallets. This is a technology which is becoming commonplace in everyday life across Europe, North America, and Asia. E-wallets are like physical wallets: they hold specific amounts of money. They operate separate to a bank account. E-wallets can have money transferred in and out of them, for specific purposes. It is helpful for manage finances as transaction history is easily viewed, but, also, in the case of online gaming, it is a great means of knowing how much you have to play with.
Not all established online casinos accept all debit or credit cards. If there is a particular casino, with its combination of bonuses and game offers, that a gamer wants to play, then an e-wallet is the solution. Money can be placed into the wallet from any debit or credit card and then used in the online casino.
Similar to the benefits of cryptocurrency, which is the focus of the next section, there is added security and privacy. E-wallets have their own security technology and policies. They can act as another highly difficult and encrypted door for hackers to open. Also, when adding the details of the e-wallet to online casinos, there is no need to hand over the sensitive personal data which comes with registering a bank account. These offer gamers a new way of playing casino with great ease of mind thanks to the benefits of this technology.
In the little over ten years since Bitcoin was introduced to the world, cryptocurrency has had enough storied highs and lows to potentially turn Hollywood’s head and attract Tom Hanks to lead a biopic by portraying a digital asset. At it’s inception, the technology promised a lot: decentralized economy, impenetrable security, and instant-speed transfer, for example. There have been obstacles and hiccups. As time has gone on, kinks have been ironed out, or at least mitigated. Major technology companies like Facebook have begun to research and invest in it – with Facebook going so far as to develop its own coin, Libra, even though critics are hesitant to call it a pure cryptocurrency. Crypocurrency’s inclusion into business and everyday life has been very steady. The market it is succeeding in, though, is online casino, which is where our interests lie.
Established Online Casinos and Crypto-Exclusive Casinos
Established online casinos have begun accepting cryptocurrency as a payment method, while crypto-exclusive casinos have started to pop up. There are promises which the technology has fulfilled which benefits gamers, hence their inclusion in the online casino industry. Firstly, there’s the improved security, which is a promise the technology has come through on. While not completely impenetrable, it is still highly, highly secure. This is because cryptocurrencies utilise a peer-to-peer system to validate transactions. In essence, this means there is no one place to hack. The blockchain technology underpinning cryptocurrency ensures that if one data block containing a transaction is going to be altered, then the rest of the data blocks in its chain – those before and after it – have to follow suit too, which is mind-numbingly difficult.
Secondly, there’s instant depositing and withdrawal. As cryptocurrency transactions do not need to pass through banks, and the peer-to-peer validation system is basically instant, there is no lag between seeing the money in your online casino account and your cryptocurrency account or digital wallet.
Technology guarantees itself own innovation. As it enters it will be replaced. The benefit is that there will always be something to a take advantage of.