The Importance of e-Wallets in Online Gaming

Online gambling must keep up with current trends to satisfy their casino members and attract new ones.

The best online casinos do this by offering the best games equipped with updated technology, competitions and free bonuses for new and existing members. However, they also attract customers with multiple payment methods.

The more payment methods they can cater to, the more gamblers they will satisfy and appeal to. One of the ways they do this is through offering e-wallet payment options.

What Is an e-Wallet?

Once upon a time, before the internet, we used bank accounts to store our money and savings. Obviously, this still happens today but technological advances and the introduction of cryptocurrency has changed that. Now we can be our very own bank manager with a crypto e-wallet or use other websites offering e-wallets. These are a type of electronic bank account and are not necessarily restricted one country. Just like a regular bank account, they can be used to make electronic payments, deposits and money can be sent to other e-wallet accounts.

Do Most Online Casinos Use Them?

The best online casinos will offer players e-wallet depositing and withdrawing options. For example, InTouch Games own online platforms such as mFortune Casino and offer their online gamers the chance to use PayPal, probably the world’s most well-known e-wallet and alternative banking option. Some video games also offer their gamers the chance to make in-game purchases using e-wallet payment methods as well.

What Are There Benefits in Online Casinos?

So, why do online casinos need to adopt e-wallets? What benefit does it serve to them?

Really, the benefit of accepting e-wallets on their platform has no significant advantage to the casino directly, but benefits their players, which comes back to promoting the online casino.

The benefits of e-wallets for players are:

• Convenient payment options
• Enhanced security – but not always. Getting a reliable and secure e-wallet requires research
• Cheaper (in some scenarios). Crypto wallets are decentralised and make transactions cheaper for everyone.
• Quicker transactions compared to traditional banking methods. This is especially the case when it comes to withdrawals. Conventional banks may take multiple working days to process your withdrawal, but an e-wallet can execute your transaction almost instantly.
• It helps gamblers keep track of their play by using an e-wallet dedicated to their gambling, thus contributing to gambling awareness and keeping people gambling safely.

It has been found that millennials and younger gamblers prefer to own e-wallets over cash and bank cards. On the whole, this means if online casinos can cater to the generations who are more likely to enjoy their games, they can increase their members and grow their business.

An online casino that offers e-wallet payments may appeal to a wider market and benefit significantly. Considering online gaming and online gambling is a crowded industry, small inclusions like these can make a significant difference for gamers.