One of the most common issues faced by players at an online casino is the speed of transactions. For many players, being able to make quick payments and withdrawals is key to their enjoyment of the casino site. However, due to strict security protocols, this is not always possible. However, many casinos, including live casinos, are making the move to offer real-time digital transactions as part of a move to become more appealing to players.
Current transactions
At the moment, there are many different transaction options available at online casinos. These typically include things like eWallets, prepaid cards, mobile phone payments and direct bank transfers. Each of these typically offers instant deposits. This enables players to be up and running on their accounts in no time at all. However, the issue arises when it comes to claiming any winnings through withdrawals or payouts.
Due to strict requirements for security and safety, most of these payment methods are slow. Of course, players do not question or complain about the security steps, as this protects them from fraud as well. But, some methods take far longer than others. Additionally, many casinos have long, time-consuming processing times, verification requirements, and more. All of these can slow down the payout receipt, which can take as many as two weeks. Luckily, many live casinos, such as Casino Days https://casinodays.com/en/live-casino are beginning to offer different methods for payment, allowing players faster access to their winnings.
No account and no verification casinos
A recent development in online live casinos is the ability for players to join without creating an account, nor with providing verification. The reason both of these options is available is due to the implementation of specific transaction options, allowing the pay and play model to arrive on the gambling scene.
With no account in live casinos, players can simply make a deposit using an option such as Zimpler or Trustly. This allows them to get started right away. Using bank or digital IDs, the casino is then able to verify the account without the player having to provide their own details or ID documents. Better still, when it comes to withdrawal processes, the casino has already checked and verified the player’s identity. This means that the casino’s processing time is very quick, resulting in players getting their winnings a whole lot faster.
A similar practice is employed with casinos that don’t require verification. Here, though, players will still need to register for an account. But again, through bank transactions made instantly and digital IDs, players do not need to provide verification documents to get started. However, not all countries offer this type of sign-up process yet. The UKGC is noticeably against such casinos at this time. And, for those that do, the process isn’t always possible. Should a player find themselves not automatically verified, they may have to provide verification and identification documents down the line in order to retrieve any winnings.
Cryptocurrencies in action
Another option available to players is the rise in popularity of cryptocurrencies. Made popular by Bitcoin, these decentralized currencies offer faster payouts. Many casinos do not accept this form of payment however, making it harder for players to access this option.
For those live casinos that do accept cryptocurrency payments, the benefits are great. Real-time transactions are completely possible, allowing players to deposit instantly as they play. Not only that but withdrawals also occur instantly. Barring the confirmations that any cryptocurrency has to go through, withdrawals take just minutes to occur.
Better still, they are safe and secure while providing anonymity to the players. Using the blockchain, these transactions are carefully recorded, allowing anyone to check the validity of this type of payment. Additionally, players do not need to provide verification information to the casino, keeping things more private.
Where to go from here
Currently, there are various options for instant, or as near real-time payments as possible. As these speedy options become more popular, it’s likely that an increasing number of casinos will embrace these options. Much of this change will be at the discretion of individual gaming jurisdictions and what they are willing to legalise. More stringent measures to protect gamblers will also need to be implemented when these casinos really take off.
