Online casinos find themselves at a crossroads these days. Attracting as many customers as possible will always be the primary objective. But when it comes to supporting different payment methods, some tough decisions have to be made. PayPal is one of the most commonly accepted online payment methods, but operators may want to look into offering alternative options as well. Bitcoin, for example, is gaining a lot of momentum in the casino industry.
PayPal Is A Popular Casino Payment Solution
Running an online casino these days means opening up the business to customers all over the world. Everyone who spends some time on the Internet will come across a casino platform sooner or later. Depending on how convenient the payment methods are, they may or may not make a deposit.
But there is another factor to take into account, as privacy plays an important role too. When using a PayPal casino, there will be a charge on the account with the casino’s name or a gambling reference.
Based on the company’s terms of service, PayPal seems to turn the other cheek regarding transactions to be made for gambling purposes. That is much to the delight of casino operators around the world, as they can accept this common payment method with ease. Deposits and withdrawals are made quickly, and players from all over the world can wager some funds.
Bitcoin is A Worthy Addition
Over the past few years, there has been an increase in the number of casinos accepting Bitcoin payments. There are plenty of reasons to do so, as cryptocurrency is a global payment method. Recipients of funds can also convert Bitcoin to their local currency, if the need arises.
Bitcoin also provides users with additional privacy, although this should not be confused with anonymity. Completing a Bitcoin transaction does not disclose personal information about the user. This allows for a different kind of onboarding process, as many gamblers value their privacy.
Perhaps the biggest reason for casinos to accept Bitcoin alongside PayPal is the option to complete deposits and withdrawals instantly. Moreover, there is only a minor transaction fee involved, which is paid by the sender. PayPal transfers are subject to higher fees, which can be a dealbreaker for potential customers. Having both options available at the same time is a solid business strategy to grow a global customer base.