As online gaming evolves, so do the accompanying elements of the experience. One part that we deem integral to the players’ experience is banking.
Banking methods are perhaps the most important practical part of the enterprise. Transferring the funds either to or from your casino account, you need a reliable service that can guarantee safe transactions without much hassle. And that is why online casinos offer varieties of banking options.
But don’t be fooled with quantity. Having numerous options is not the point. The point is, and always will be, in the balance of quantity and quality. Only when you have quality services that keep you and your information protected, can you relax and truly immerse in the entertaining part of the experience.
As top casinos aim to introduce more options for their customers, we notice a certain change in the methods introduced. The changes refer to the technological (r)evolution that goes hand in hand with online gaming.
The New Era of Finance
Advancements in technology serve one purpose: making everything easier and more accessible to users. The same principle applies to those found in online casino gaming.
And why is that the case? The answer is simple: customer satisfaction. The entire gaming industry relies on the satisfaction of the players. And players are most satisfied when they are safe and entertained. By adding strict regulations, safer payment methods, and authentication, online casinos make sure to keep the machine well-oiled for everyone involved.
The swift and intense changes that we are witnessing today reflect the energy of the society, i.e. the customers. As things get more accessible and we devise easier ways to perform our daily duties, the same principle becomes more apparent in all spheres of our lives. That includes gaming as well.
The financial aspect is obvious in all nooks and crannies of entertainment, but online casinos heavily rely on the abundance of new flexible banking methods. Case in point is the e-banking which brought more versatility than was ever imagined. And let’s not forget cryptocurrencies.
When cryptocurrencies appeared in 2009, the world was amazed. These nifty little things also known as digital currencies changed the entire financial landscape. They launched an avalanche of changes in all industries, and iGaming was not excluded.
The first one was Bitcoin. Bitcoin employs a peer-to-peer bitcoin network, which essentially means a decentralized system where no intermediaries between users and services are needed. The invention of cryptocurrencies marked the new beginning of virtual money transactions. With digital currencies, the users could trace their transactions just like with other methods, but they could remain completely anonymous – and safe.
Soon a plethora of virtual venues started adding Bitcoin to their list of payments, but that is not where it ended. Today, we have countless Bitcoin-only casinos that accept exclusively bitcoins, and the best thing about them is that they operate just like regular gaming sites.
Moreover, Bitcoin is today only one of several digital currencies. Two years after its appearance, Litecoin was launched. A carbon-copy of the original, Litecoin kept some universal principles as Bitcoin, but it also introduced a new set of benefits for users.
A couple of years later, the financial landscape changed again. In 2015 Ethereum was launched, which in its essence, was a blockchain with a native digital currency called Ether. But Ethereum went one step further than all digital currencies before. This peer-to-peer network is a programmable blockchain, which means that the user can write code and build new kinds of applications. Now that is what we call a potent financial revolution!
Land-based banks and paper money is becoming obsolete. Customers simply do not want to waste time going to banks or ATMs to initiate transactions which can be completed with just a click. By combining mobile banking (transferring money via mobile apps) and digital currencies, a brand-new model of banking in online gaming is taking shape. And who knows what else is in store in the future!