Online casinos are always innovating to bring players a better experience. One of the ways they’re constantly pushing the envelope is with new payment methods. All players care about the speed of transfers (money in and out).
Back in the day (yes, this might make me sound old), players had to wait weeks for a cheque in the mail. Nowadays, players can deposit or withdraw instantly with minimal fees and minimal headaches. If you classify yourself as an early adopter, then you fully understand.
What Do Players Want in a Payment Method?
Early adopters typically have a similar mindset. When they’re evaluating which online casino payment method to use – either for a deposit or withdrawal – they’re typically looking at a couple of key things.
Transaction speed
The need for speed is crucial. There have been so many instances in the past where a method caused delays or challenges, or required tracking and tracing. Any of that is a headache. Players want to know that they’re going to get paid quickly.
Ease of use
Few people want to have to create a third-party account to receive a prepaid credit card loaded with their balance in the mail. That’s painful and arduous. What’s easier is using a commonly-adopted method (such as PayPal or crypto) rather than having to learn something completely new.
Mobile-friendly
Many of us are moving away from laptops and desktops. If it can be done off your phone, it’s probably much easier. One report on Statista showed that 49.4% of global e-commerce transactions were made via mobile back in 2021. In Canada, that number is now approaching 60%.
Security and safety
Early adopters want to be assured that, whatever method they are using, their money is not at risk. It’s good to know, then, that all of the best online casinos in Canada that we recommend are licensed and regulated, with stringent security protocols in place.
Which Online Casino Payment Methods Do Players Love?
Now that we know what early adopters (and online casino players in general) are looking for in a banking method, let’s talk about some of the best options out there.
Cryptocurrencies
The demand for cryptocurrency grows every day. With the United States government and Wall Street now all-in on Bitcoin, it gives it a major stamp of approval. The adoption is happening at breakneck speeds, which means players who are using it now are going to have an easier time than many did maybe 10 years ago.
For example, a lot of basic investment sites like Robinhood or Wealthsimple will let you hold, trade or send Bitcoin. That makes it super easy. A report from CryptoPotato found that 20% of online casino players used crypto for sending and receiving to gaming sites, and that was in 2023. Nowadays, that number approaches 30% by some accounts.
PayPal
PayPal is still one of the leading online e-wallets. When possible to use it, a lot of players are happy with it. In the United States, they have integrated with crypto, so that makes using crypto even easier (since so many people are familiar with PayPal). If they did so in Canada, that would be even better.
MuchBetter and ecoPayz
Both of these e-wallets are competitors to PayPal. While PayPal is the best option in many areas of the web, it’s not the top e-wallet in the gaming space. Some regulatory challenges have mired them in a boondoggle, while MuchBetter and ecoPayz have navigated the space well. They offer very fast and low-friction transactions.
Why it's Important to Test New Payment Methods Out
If you see a new option at an online casino come up, give it a try. You don’t have to send your whole bankroll; just $10 or $20 is good enough to see if it satisfies your needs of speed, security, and easy of use.
Think of it like using Apple Pay or crypto five or six years ago. Was there a learning curve? Yes, there was, but if you made the leap – you were probably a lot happier than the people who dealt with legacy options like bank wires and cheques in the mail.
Online casinos are always innovating with the newest technologies, and they’re not going to release something to players that they haven’t tested themselves. If you see a new method, put on your early adopter cap and try it out!
