4 Mar

Don’t Gamble on your Choice of Payment Method

Comps & Competition: Don’t gamble with online gambling payments.

Comps & Competition: Don't Gamble with Online Gambling PaymentsIf you’ve ever spent time looking for the ‘right‘ online casino to join, you’ve surely noticed just how competitive the internet gambling industry can be. They are ready and willing to give new players hundreds if not thousands of dollars to deposit with their websites over a competitor’s brand. Their existence in cyberspace eliminates the common barriers of terrestrial localities, making their promotional materials so much more valuable than any land-based casino would offer.

Deposit with this operator, and they’ll double your money. This one over here offers a trio of percentage bonuses on the first three deposits. Go with that one, and you’ll get a 100% up to $100 bonus, plus 50 free spins on the slot machines. Many of them present additional bonuses for utilizing one of the operator’s ‘preferred‘ payment methods too.

Messages like these bombard new potential players every day. It truly is one of the most competitive businesses in the world, worth billions upon billions of dollars each year. But did you know some of the payment processing brands that facilitate your deposits and withdraws can be just as competitive?

Payment Processors as Competitive as Online Gambling Websites

We don’t hear nearly as much about the promotions offered by payment processing companies, because rarely are their promotions geared towards the players who use them most. There’s good reason for it too. Take PayPal for example.

PayPal has a very solid reputation with customers all over the world. It isn’t going to say “Hey, use our service for your online gambling needs. We’ll give you 5% cash back on your deposits when you do!” This would be seen by most as promoting gambling, and PayPal isn’t in the business of stirring such a volatile pot.

Instead, payment processors will encourage their biggest customers to promote their services; the internet casinos, poker rooms, sportsbooks and bingo sites. They do this by providing iGaming operators with discounts on all deposits they facilitate for them. Now, because the iGaming operator wants to get that discount, it will promote the payment method as a “preferred” option. Players who use it might get an extra 10%, 15% or 25% bonus when they purchase with the right banking method.

Don’t Gamble with Online Gambling Payments

Getting that extra boost in your bankroll can be an attractive draw to use one payment option over another. However, make sure you’re looking at who’s moving your money; not just the extra dollar signs that come with it. Your choice of payment processor is critical, and should never be taken lightly.

Credit and debit card purchases are generally safe, but it’s not often you’ll see them as a preferred payment method; (or ‘Alternative Payment Method‘ (APM) as some online gambling websites call them). More often, these extra bonus promos are attached to online payment processors (aka eWallets) like PayPal, Skrill, Neteller, EcoPayz, EntroPay, EziPay, etc.

There’s a lot to be considered when choosing a payment method. Is it a trusted, secure method with a long-standing reputation? What kinds of fees do they charge? Can you use the service for deposits and withdrawals? How long does it take for your money to send or arrive?

Do your research first and you’ll find that sometimes, those APM bonuses aren’t worth it. Other times, you can get an exciting deal on a method you already use for other purposes. Take advantage of the good ones, but never gamble with your online gambling payments.

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