When it comes to online gambling, smartphones are the punters’ choice to place bets and play casino games. In no other niche has the mobile phone replaced the desktop computer at such rapid speed. Some gambling websites report that over 85% of their customers have registered, play, and deposit (and withdraw) money using their mobile device. It’s especially impressive considering that many businesses that operate in different markets report low conversion and shopping cart abandonment rates since their customers seem to lack confidence when it comes to paying with their smartphone. What makes online casinos and betting sites different to anyone else?
Gambling sites offer a variety of payment methods
The most noticeable difference when it comes to online gambling is the wealth of available payment methods. At most e-commerce shops, customers can checkout using their debit or credit card, and sometimes PayPal. At online casinos and their sister sites, players have access to more options. Neteller, Skrill, or Paysafecard, along with more traditional methods, give punters the chance to pick the payment method they are most comfortable with. That, together with mobile-only payment ways such as Apple and Google Pay, make the smartphone the best and preferred way to deposit and withdraw money.
Casinos and Bookies verify their customers
Besides the range of payment methods, there is another reason why customers of online casinos and betting websites are comfortable to deposit and withdraw money using their mobile phone. In the UK, all players are verified before they are allowed to play for real money.
As required by the UK’s Gambling Commission, all gambling operators have to verify their customers’ identity and source of funds, making sure that no one is trying to deposit money using stolen credit or debit cards. Although this process is rather time-consuming and frustrating at first, it increases the level of trust customers have into the website in the long-term.
Credit card payments to be banned starting April 2020
Now, talking about payments at online casinos and bookies. As per new rules published by the UK Gambling Commission, credit cards are going to be banned as a means to deposit money to place bets and gamble online. A recent study had found that as much as 22% of problem gamblers in the United Kingdom were using credit cards to fund their gambling addiction. Since using credit cards is spending money you don’t have and come with high fees, people often faced the accumulated debt along with extra charges they usually were not able to pay back.