Home Gambling The Growing Link Between Fintech Companies and the Gambling Industry

The Growing Link Between Fintech Companies and the Gambling Industry

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If you are new to gambling, it is important for you to know that both online and land-based casinos mention and recommend payment methods that are sometimes very different from each other.

By payment methods, casinos refer to two aspects that should not be confused: a) balance deposits in players’ accounts and, b) withdrawal of winnings from such accounts. It is likely, and frequent, that the payment methods are different for each specific process.

Casino operators have room to offer different payment methods to suit their needs and those of their customers. Of course, the payment methods have to be approved by the current legislation of the country where the casino is located, otherwise don’t play on a site that does not process payments legally.

Why is it useful to know which payment method each casino uses? There is no perfect payment method, they all have disadvantages and advantages. As a customer, knowing how a casino pays or charges helps you know if the site meets your expectations.

Some casinos accept traditional Visa or Mastercard, bank transfers, PayPal… and even cryptocurrency payments, which are so popular right now. It is important not to lose sight of the fact that many online casinos have daily limits, maximum and minimum, to make money deposits or withdraw winnings.

Attention, you should know that many of these transactions apply fixed or variable commissions according to the amount you intend to withdraw or deposit. Commissions are always unpleasant, but they exist almost everywhere. That’s life. In some cases, experts recommend having a specific account dedicated to gambling. This is good advice; it is not good to mix things up.

Online casinos that offer the option of payment and collection by PayPal are a very good option for players. You can find a large selection of online casinos that accept PayPal at Casinoselect.co.nz. This is a well-known platform, with many years in the market of payment methods and generates security and reliability in those who use it.
Despite these advantages, not all casinos accept PayPal as a payment and deposit method.

Some, for example, only allow deposits through PayPal but not withdrawals. The benefits of using PayPal are many, one of the best known is its security. You can pay online simply by using your email address. The bank details of your PayPal account are fully protected. One of the most obvious advantages of using PayPal is that it is a very widespread payment method, we could almost say universal. It is available practically all over the world.

More than 100 million active users trust PayPal, and the number is growing. It is a secure, effective method. PayPal has teams dedicated to verify possible fraud and hacking actions. These teams work all the time. Live online casinos that accept this payment method usually allow fast deposits and cashouts are not taxed excessively. It is true that not all online casinos like casinoble.co.za, have PayPal as a payment method, but those that do are licensed and regulated. Otherwise, they would not be able to use PayPal for their business operations.

You are likely to find some gambling sites that accept PayPal deposits with some specific conditions. The casino may restrict the amount to be withdrawn using PayPal. Others will require you to use PayPal for withdrawals if you have deposited with PayPal. Why does this happen? By regulation casinos are required to comply with anti-money laundering laws.

Casinos and payment methods

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We are in the 21st century. We have all used electronic payment methods at one time or another. Most often we spend our money on Amazon but it is not the only place where we do it. A lot of time has passed since 1994, when the first Internet transaction is considered to have taken place.

A buyer purchased a copy of Sting’s album “Ten Summoner ‘s Tales”. Time has passed and electronic transactions have become established and commonplace. Today the range of payment methods at our disposal is very wide and varied, especially for payments that are executed online.

Credit cards

They are probably one of the most traditional payment methods to pay in casinos, next to the traditional bank transfers. Among the main advantages of this method is that it is a payment method easy to use and to which many users are accustomed.

Bank transfers

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It is, despite the advances of other methods, one of the most common to send money from one bank account to another. It is also one of the most common ways to pay or withdraw money from a casino.

It has the advantage of being a well-known method that practically all online casinos accept. As a disadvantage we can mention that you have to know your account number and that the deadlines for receiving or sending are usually longer than one would like.

Prepaid cards

This is an increasingly popular method, although it is not entirely new. Prepaid cards allow you to load a card with a real balance and then make purchases and payments online. Of course you can use it at an online casino.

It is a simple and completely secure payment method. Advantages? You do not need to provide your card or bank account number at any time. The difficulty is that prepaid cards are used for casino deposits but not withdrawals. Too bad!

Electronic wallets

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The world is on its way to the demise of physical wallets. Live to see. Why carry around cash when we can have electronic money in our possession. It’s much safer, there’s no doubt about it.

Among these electronic wallets, PayPal stands out, which we have mentioned in this article, but there are also others such as Neteller, Skrill and more. They are a safe and convenient payment method. One of its biggest advantages is the speed with which you can make deposits and withdrawals.

You have to try it! As a negative point is that you will have to open an account in one of those and e-mats, but how hard can it be? Let’s be honest, how many of us don’t already have a Paypal account?