The online casino gambling industry is a worldwide juggernaut that affects millions of people around the world. Gamblers themselves are already a massive audience, but it should be noted that the industry also employs workers in various ways. One of the sectors that undoubtedly benefits from online gambling being around is the online payment solutions sector.
Online payments are a huge part of any company and industry that needs to accept payments in order to keep going. Online gambling is all about payments, and the faster the better. In this article, we take a look at a phenomenon called pay n play, which is one of the main reasons for the current fierce competition between payment solutions in the gaming industry.
Online gambling is all about spending money to make money
For the longest time, online casinos have been telling their customers that gambling is not to be looked at as a viable source of income. However, it is clear that while most people do accept that there is a big chance that they will be losing their money, no one really deposits money to an online casino hoping to lose. After all, modern online casinos of today tend to also come with a free-play demo mode where all bets are off and you can play without any risk whatsoever.
When an online casino customer deposits money to an online casino, they hope to have a chance at multiplying their bets. In the current economy where many are struggling to make ends meet, many are more willing to take chances to improve their lives. Obviously, this should never be overdone, as responsible gambling is incredibly important. Players should never gamble with more than they can afford to lose, but should instead only make smaller deposits in hopes of perhaps growing them.
Unlike most industries in the world, online gambling is interesting in how people aim to do two money transactions every time they play. One is for the depositing process, while the other is for the withdrawal process. This means double transactions, which means that casino companies will want to implement the best payment solutions that they possibly can.
Pay n play casinos are the most popular casinos right now
Normally, gamblers would expect their payment methods to be separate services from the casino that they are using. With the likes of Visa, Mastercard, Zimpler, Neteller and PayPal, this certainly is the case. With each of these banking solutions, players will be using entirely external methods to make their deposits and withdraw their winnings.
In addition to these more traditional payment methods, some online casinos of today have decided to go an alternate route. This includes using payment methods like Zimpler that are fully integrated into the overall gambling experience. The website https://zimplerkasinot.net lists several online casinos like this. The phenomenon is known as pay n play.
With pay n play casino sites, online casino customers can use their bank accounts to fund their gambling. What is more, by doing this, customers can actually skip the usual registration process as the casino gets all the player’s information straight from their bank account.
Using pay n play casinos is extremely easy, but the feature is not available everywhere. Thus far, most countries like Finland, Sweden and Germany are using what is called bankID which makes the service possible.
Pay a play means easier KYC
One of the main benefits of pay n play casinos is that this technology can also be used to complete the usually long-winded KYC process. In other words, with bankID, casinos are able to identify their customers with no extra documentation needed.
Conclusion
Pay n play casinos have made it extremely easy for new casino customers to take part in playing at online casinos. This has caused the whole payment solutions and fintech market to up their game and try to come up with even faster banking options.
For now, Zimpler, Trustly, Brite and Euteller are the easiest and best ways to fund your casino account. It remains to be seen whether this will change in the future with cryptocurrencies possibly taking over the market in the coming years.
