Online Gambling Market and Means of Payment

The online gambling market is growing at an incredible rate. It is currently valued at $59 billion and is expected to be worth over $92.9 billion, by 2023.

This growth is due to technological advancements, increased trust among gamblers purchasing online, and the world’s rising digitization.

Furthermore, the proliferation of highly secured online payment methods contributes to the expansion of the online gaming sector. Today, we will talk about popular means of payment in the online gambling market.

Popular Payment Methods

Credit/Debit Cards

Credit/Debit cards are probably the most popular and accepted means of payment online. It is usually connected to customers’ bank accounts or credit accounts, allowing them to make payments easily. Two of the most popular credit/debit cards accepted in the gambling industry are Visa and Mastercard.

Electronic Wallets

This option lets customers make electronic transactions by bartering digital currency units. The beauty of e-wallets is that they are fast, safe and easy to use. Common ones accepted by online gambling sites include Skrill, Neteller and PayPal.

Cryptocurrencies

Cryptocurrency is another popular payment means for online gambling. It offers confidentiality and decentralization, making transaction processing safer. In fact, some online casinos only accept crypto transactions. Among the popular ones are Bitcoin and Litecoin. However, you can explore more online payment methods.