The Handiest Payment Methods For Brick-and-Mortar and Online Casinos
Players worldwide are attracted to brick-and-mortar casinos’ bright lights and traditional games. With the global gambling industry reaching $540 billion in 2023, both traditional and online casinos are on an upward trajectory that is only expected to continue growing.
Brick-and-mortar casinos are renowned as hubs of entertainment, with players enjoying the atmosphere of a live setting. A big draw to casinos is the ability to make quick transactions, even in land-based casinos. These payment methods have evolved dramatically over the years, moving beyond simple cash-based payments. While cash is still king for many players, being able to use debt and credit cards and e-wallets is now a huge benefit for many active players across the globe.
Online Casino Payments
While many are still committed to playing in brick-and-mortar casinos, others have chosen the convenience of online casinos from the comfort of their home. These online gambling platforms offer the same variety and social elements as land-based casinos, but they have also set the trend for new and innovative ways to make secure payments for the gambling industry.
Many online casinos, like FastSlots.com, for example, offer fast and safe payments, ensuring a quick and easy way to deposit money into accounts. This has set a trend for the industry, with land-based casinos following suit to compete with their online counterparts. Online platforms like this also offer other incentives for players, including cashback and special offers for sign-ups.
Traditional casinos are now integrating and learning lessons from online platforms’ payment methods. Some casinos now offer online pre-paid casino accounts, where players can add funds online and use them at partner land-based casinos, with other brick-and-mortar casinos offering QR code-based payments. Players can transfer funds digitally from an online account to a slot machine or table game, reducing the need for cash or a card. Land-based casinos are learning many lessons from online platforms and are looking for innovative ways to integrate digital transactions into their business models.
Brick-and-Mortar Payment Methods
Traditional, offline casinos share some payment options with their Web-based counterparts but also nurture the use of some other methods.
Cash Payments
Historically, cash has always played a huge role in brick-and-mortar casinos. Many players will still opt for the payment method, hoping that it helps them to spend less and stay in more control of their budget. Cash is a straightforward payment method, and unlike credit or debit cards, it will come without transaction fees or interest.
Many casinos will have ATMs on site so players can access their money quickly, making it a handy option for traditional casino users. However, ATMs can come with fees, and players may not want to risk carrying large amounts of cash with them.
A huge benefit to using cash is that it is universal, and all casinos accept it, although if you are travelling through countries, you will have to remember to exchange it for local currencies. Cash payments are handy because they are instant, and there will be no delays.
Credit or Debit Card
Over the last decade, credit and debit card payments have become a go-to for people using land-based casinos. Many traditional casinos will allow customers to buy their chips directly via a credit or debit card. However, it is better to check with the casino you are visiting first to ensure they accept your cards.
Some casinos also offer cash-advance services through onsite ATMs. One thing to watch out for is that using a credit card can sometimes come with higher transaction fees and interest. Some banks may even block or monitor card transactions in gambling establishments as well, so it is best to check with your provider before visiting.
With the development of online banking apps, many players can track their spending with their credit or debit cards. Unlike cash, which can be difficult to track with receipts, monthly bank statements will allow users to monitor their gambling spending habits. There are many tips on how gamblers can manage their money effectively, and having control over your money is key to being a successful gambler.
Using cards is a handy way for players to spend at casinos and is safer than carrying big lump sums of cash. Card companies also offer fraud protection and safety measures in case your card goes missing or is stolen. Depending on your provider, players may be able to access higher spending limits as well in comparison to withdrawing money from an ATM. Just be careful of overspending, with contactless payments, it has become even easier for players to swipe and pay.
E-Wallets
Many consumers are opting to use e-wallets in their daily lives due to their convenience and growing popularity. One of the huge benefits of e-wallets is their security and wide acceptance. They are now becoming more popular as a payment method in land-based casinos and are seen as both secure and efficient for players across the world.
E-wallets connect to accounts like PayPal, Skrill, and Neteller and allow users to store funds digitally. There will even be some brick-and-mortar casinos that offer e-wallet kiosks so players can load funds onto a casino card or directly transfer money to gaming tables.
Other mobile payment options like Google and Apple Pay are also becoming more widely accepted in land-based casinos. These are handy as they are attached to mobile phones and reduce the need to carry cards or cash. These apps will also update players in real time about money spent, allowing players to monitor their spending and check for unidentified payments.
