The steady rise in online casinos has gone hand in hand with the different options through which bettors can make payments, with plenty of new electronic payment options making their way online in the last couple of years.
Even though credit/debit cards are still widely being used to make both deposits and withdrawals, the alternative purchase methods, abbreviated as APMs have increasingly become more popular among players.
What are APMs?
You are probably wondering, what are these APMs? And why have they become this popular and outshining the traditional and more secure credit/debit cards?
AMPs are simply electronic wallets or eWallets if you like. These are online wallets where people store their money and use them to make different payments at different websites including online casinos or in the real world through debit cards and smartphone applications that are linked to the different eWallet accounts.
Most of these eWallets work through the applications that have been installed on mobile phones. So, for example, you might just tap your device to a compatible check out registry and make the payment instantly. For others, you might only be required to have your mobile phone number, Secure ID or PIN in order to use them.
Some of the most popular eWallets accepted across different online casinos include the likes of Skrill, PayPal, Neteller, ClickandBuy, ecoPayz, WebMoney, ApplePay among many more!
So why would a player opt to play using an e-wallet for casino deposits, yet they can pay directly using credit/debit cards? There are plenty of reasons why eWallets as a payment method is growing popular by the day and we are going to specifically look why the online casino industry has greatly embraced it.
Advantages of using eWallets as a method of payment
We are going to look at the advantages of using eWallets briefly, but ensure that we exhaust the points extensively!
Payments are processed instantly
With this method of payment, each transaction you make is processed instantly. Therefore, when you click on send or pay on your smartphone; or when you choose to top your eWallet account using your credit card; the transaction is going to go through in a matter of seconds.
This is perhaps one of the main reasons why most players prefer using eWallets as a method of payment online.
You save a lot of time
eWallet payments have been praised for how efficient and quick they are – and there’s no doubt about this! Whereas other forms of payment dictate that you log in to your account, or input details which might take you some time to complete.
However, to make deposits using eWallets, it only requires you to sign up at the online casino, choose the amount you wish to deposit, after which you enter the details of your eWallet to complete the transaction. Wasn’t this fast enough?
It’s incredibly safe to use eWallets
Most of the online casino players are increasingly getting worried about internet scam. We frequently input card details to all kinds of websites, all the time – whether we are doing grocery shopping, paying for cable TV or you are funding your casino account.
Most of the times, this shouldn’t cause any major concern since most of these sites offer completely secure connections when asking for personal details (but only those with the padlock symbol next to their URL link).
However, with the sheer number of transactions being conducted on the internet daily means that fraud is increasingly becoming a common thing.
This is where eWallets come in handy. They will help bettors avoid this issue as they’ll enable you to make deposits from your bank account and eliminate the chances of any fraudulent casino getting hold of your bank details.
Furthermore, all these eWallets are regulated by external bodies such as Financial Conduct Authority, which ensure that the users of the eWallets are always protected at all times.
They have been designed for mobile casino players
Most of the online casino players are gradually making the switch to using their mobile devices to play, and now, more than ever, mobile betting is becoming more and more popular! Depositing was arguably the final hurdle in seamless mobile betting, but this seemed to be a problem that was resolved with the introduction of eWallets!
eWallets just make things easier at the online casinos. But if you are not just convinced yet, why don’t you choose any of the eWallets mentioned above, choose an online casino of your choice and start using a method that best suits your needs?