How important is PayPal to Online Casino Operators?
Here’s why Online Casinos that accept PayPal are so important
In much of the world, digital payment solution PayPal is by far the most widely-used transaction platform in a very crowded market. The mobile app alone processes billions of dollars in payments in the United States and Europe every single day, while the company behind it has received praise for its user-friendliness and airtight security features.
Naturally, businesses across all sectors have rushed to include PayPal payment options for their customers, partly out of fear of being left behind in the digital payment revolution. One sector that particularly needs to be aware of the importance of PayPal is the online casino sector, for a number of reasons. But why are online casinos that accept PayPal at an advantage over those that do not? Read on to find out.
It’s what customers expect
As mentioned already, PayPal may well be the most popular game in town. It doesn’t take much research to see that the online casino industry has already adapted to the market dominance of PayPal. A look at the list of best online PayPal casinos as demonstrated here reveals that virtually all of the most well-known operators in the industry, including Betway, 888, and Grosvenor, all accept PayPal for withdrawals and deposits.
While PayPal may not be immensely popular in emerging iGaming markets such as China and smaller dynamic markets such as Georgia, it is undoubtedly the platform of choice for a majority of consumers in the US, Europe, and Australiasia, regions that make up the lion’s share of online gaming revenue. Any customer-focused platform should be a PayPal casino if they wish to remain competitive in these markets.
Anonymity and privacy
For many reasons, online casino players value discretion and privacy. Their online casino habits are personal information that should not be easily accessed by other people. This is where PayPal casinos are at another advantage. Transactions made via PayPal, whether they are small deposits or big casino wins, will never show up on a bank statement.
The information relating to a customer’s casino gaming will only be accessible to them via thee two-factor authentification service provided by the platform. Banks and loan providers are unable to access personal PayPal data in any way, which allows users to rest easy knowing that their data is completely safe.
Security is naturally a key concern for online casino players, particularly in a world where high-profile hacks and data breaches seem to hit the front pages every single day. The security architecture behind PayPal has won multiple awards for the sheer impenetrability of it, which adds an extra layer of security to a customer’s casino activity.
In addition, the lack of risk that accompanies PayPal casino deposits is another factor that should make online casinos pause for thought. When a customer makes an online casino PayPal deposit or withdrawal, they do not need to provide any personal financial information. All they need to do is enter their email address and password. There is very little data in a personal PayPal account that could be used maliciously, even if a hacker was to gain access to it – especially so compared to a traditional e-banking account. This is a critical advantage of PayPal over many other forms of payment processing.
Easy withdrawals and deposits
Another key advantage for online casinos and their customers are the instant withdrawals and deposits PayPal offers, especially when compared to using traditional credit and debit card services. If a customer wants to make a deposit with a debit card, they will typically need to enter all of their card details, including the card number and expiry date, every single time they wish to make a deposit.
In addition, if a user wishes to cash out their winnings, doing so via debit or credit card can often take days to process, especially if the transaction is a cross-border one. A user that has to rely on traditional banking services may also have to wait for their payment to be processed if they are doing so on a weekend or a bank holiday. PayPal offers a convenient solution to these problems.
With PayPal, any user can make a deposit instantly, often by simply using the fingerprint reader on their mobile device. PayPal casinos are often able to credit winnings instantly into a user’s account – a feature that can guarantee customer loyalty.
As you can see, online casinos offering PayPal transaction services are at a serious competitive advantage within the industry. Retaining loyal customers is more important than ever, and PayPal can be a hugely effective way to do so.