It is worth noting the giant scale the iGaming industry has reached on the Internet. It is a popular form of entertainment for at least 20% of the world’s population. No wonder, as many people find it fun and profitable. Therefore, they are willing to send more and more deposits to have access to their favorite games. This is influencing the trends that are shaping the future of the gambling online industry, and many of them relate directly to digital payments. In the following sections, you will learn about the changes that audiences need to prepare for in 2013.
Gambling Payment Trends to Watch For in 2023
“After a surge in popularity due to COVID-19, the iGaming industry continues to expand. Players keep depositing and cashing out their winnings, leading to new digital payment trends and rules. There are several ‘updates’ awaiting players in 2023, and some of them are available now,” said Darnell Lewis, a content manager at Gamble.Buzz.
So, it’s time to highlight the upcoming trends that will somehow affect the gambling payments industry in 2023 and beyond. Sit back and keep reading.
Omnichannel Transactions
It’s a new word in the iGaming industry, which is why it’s attracting so much attention. The term “omnichannel” indicates the ability to switch from one device to another. So, casino enthusiasts start a session on a PC or laptop and then jump into a mobile app, getting the same experience and functionality.
Therefore, most gambling companies are looking for a way to incorporate the omnichannel approach into their strategies. This trend leads to the fact that the functionality of payment methods should also fully support the seamless transition of the player from one device to another.
Online-only Banks
Recently, online users have been talking about digital banks, also known as neobanks. Based exclusively on the Internet, they offer a fairly wide range of financial services. Digital banks have adjusted in time to the growing popularity of mobile casinos by offering enthusiasts additional services.
“Thanks to neobanks, mobile gamblers have learned about micropayments, subscriptions, and in-app purchases options that were not available before,” said Darnell Lewis, a content manager at Gamble.Buzz.
This approach has made digital payments much easier for players and reduced the processing time for casino operators. Another advantage of online banks is instant deposits and payouts of winnings. You no longer have to wait several business days to receive your funds.
Artificial Intelligence Technologies
Although most audiences do not notice it, innovative tools have been used for some time in the gambling industry. Enthusiasts expect a personalized approach, a wide choice of payment methods, and instant transactions. Modern casinos need the latest AI technologies to attract customers and stay competitive. For instance, these solutions help operators track players’ behavior to respond to their preferences and gambling habits.
Crypto Coins
Some might think that cryptocurrency has peaked in the casino world, but that is far from reality. These days, more and more players are using digital coins because of the benefits they offer:
- Zero fees for deposits/withdrawals.
- Instant transactions, regardless of your location.
- Highest level of security as no other financial intermediaries are involved.
- These transactions provide anonymity as they are untraceable.
- Finally, they have become so popular that you can find them on almost every site with casino games.
If you decide to visit a casinos with Neteller, Visa, PayPal, and other traditional payment methods, you will most likely also find Bitcoin, Dogecoin, Ethereum, and other crypto alternatives. Their number and capabilities are expected to grow significantly in 2023.
“Buy Now, Pay Later” Solution
This approach to digital payments allows users to purchase goods and services with deferred payments. Simply put, you can buy something today but pay for it within a few days or even weeks.
This approach is part of the iGaming industry, where players spend significant sums on deposits and in-game purchases. Therefore, the “buy now, pay later” solution seems to be the right one. Casinos and other gambling companies are expected to attract and retain those enthusiasts without the financial capacity to make significant upfront payments.
Bonuses For Preferred Payment Method
Speaking of new customers, casinos use all available tools to attract them. Typically, they offer bonuses for registration, deposits, and other challenges. But more recently, rewards for preferred payment methods are gaining popularity.
How does it work? If a casino promotes Skrill, for instance, then players will be rewarded for making a deposit using this service. Often, these bonuses are related to cryptocurrencies like Bitcoin, Litecoin, and Ethereum. While casino operators need such promos to stay competitive, players need them for extra rewards to be converted into stakes.
Mobile Transactions
Some experts call mobile players “the engine of the industry.” So far, it’s looking that way. With the advent of adaptive casinos, many players have stopped using their PCs and laptops for betting. Games adapted for smartphones and tablets offer the same visuals and gameplay features but with the advantage of being available anytime and anywhere.
Therefore, many payment companies have started to develop apps. Many of them are expected in 2023. By installing a banking application, you can send funds to/from the casino with a few taps. This is a great alternative considering that payments land instantly.
Plenty of changes are in store for gambling payments. They will become more accessible thanks to mobile banking apps, while cryptocurrencies will provide instant transactions between players and casinos. Also of note is the introduction of AI technologies, allowing gambling operators to provide personalized service to each registered customer. It’s also important to keep in mind new companies that are happy to deliver your funds wherever you want them. You may also be rewarded for using a recommended payment method at a particular casino.
Author’s Bio:
Darnell is a highly experienced and accomplished gaming writer with over two decades of expertise in the industry. He has authored popular gambling books, appeared on TV and radio broadcasts, and is sought after as a public speaker at conferences worldwide. Darnell’s focus is on responsible gambling practices and maximizing wins while minimizing losses. He is also a valued consultant to casinos and gaming companies, providing insights into game development, marketing, and responsible gambling.