Money Flow and Payment Systems Information
Online gambling presupposes purchasing virtual chips for the chance of winning money. For that reason an automated system for money transfer between a player and an operator should be established. Numerous online payment systems offer online transaction services between the parties.
Most important criteria in evaluating online payment systems are as follows:
- Immediacy.
Most players and online casino websites operators expect immediate payment of wagers. Players, in particular, may appear deeply unsatisfied with any operator that does not immediately transfer or post winnings and make them available for withdrawal. - Security.
Players will be hesitant to gamble with an online casino unless they are guaranteed that funds in transit reach their intended destination and that the information does not expose them to unauthorized withdrawals or charges. - Cost-Efficiency.
The cost of fund transfers must be inexpensive relevant to the size of a wager. If the opposite a transaction costs may be too high resulting in an inability of an online casino operator to provide a product competitive with traditional way of gambling. - Anonymity.
It is common for online gamblers to remain anonymous even from the gambling operator. This can be based on lack of trust about how the gaming operator will use personally identifiable information, or fear that his gambling way may be exposed to others including law enforcement, employers, bankers or family members. - Availability.
In order to be useful for online gamblers any payment method should be available. Some payment methods may make sense but are unavailable either they have not obtained market viability or because the providers have withdrawn their availability to gambling websites because of legal concerns.
It is highly advised to measure all payment systems you would like to be integrated with your casino against these criteria.
Cash In Process
Most of reputable online casinos and poker rooms offer more than one payment system to enable online gamblers fund their real money accounts. Offering multiple payment options is sure to attract more online gamblers to your casino website. Online casino payment methods have significantly evolved over the past years.
Though using credit cards as account funding method is one of the easiest and secure at reputable online casinos, alternative payment options are available in abundance. The most wide spread payment systems use the e-wallet concept. It means that a person deposits money to their e-wallet using a credit card or bank account and after they pay online for services and products, including funding online casino account, using funds of the e-wallet. This way of payment is considered to be the most popular. Such popular payment systems as Neteller, Moneybookers, e-gold, Webmoney, etc. work on the e-wallet basis.
Another way of depositing money to an online casino account is direct money transfer from a user bank account to the account of online casino. While many players are nervous to do this, it is completely secure as the casino never sees your bank details. E-check is a good example of direct money transfer.
Finally, there are direct and wire transfers, where a player manually makes a transfer to a bank account, and once the deposit is verified, the money is added to their casino balance.
Cash Out Process
Optimizing the cash our process in your online casino is the issue of prior significance, because fast money withdrawal plays an important role in building positive reputation of your online casino in the online gamblers society. Fast and secure cash out is a key point in building loyalty of online players towards a particular casino. In case a gambler experiences any difficulties with getting their wins his not returning is obvious.
Slow winnings payment to card is the most wide spread complaint of online gambling lovers. The fact conditions the necessity of making the cash out process as prompt as possible. Moreover, casino software utilized while building an online casino should offer online casino operator the opportunity to check whether the player hasn’t violated the rules and gambled fairly. Online casino software should have a database with detailed statistic of every transaction that has taken place.