Casinos are thousands of years old amusement practices and are still going on. Europe is the begetter of modern casinos. The global casino and online gaming industries are growing faster than the global economy. According to IBIS World analysis of Global Casino and Online Gambling, the market reached $265.3 billion in 2021 and is anticipated to expand by 14.9% in 2022.
According to another study, Asia-Pacific accounted for 31.9% of the global online gambling market in 2020, making it the largest region worldwide. Western Europe came next, then the rest of the world. The Asia-Pacific and Western Europe will experience the fastest growth rates in the online gambling market in the future, with CAGRs of 10.84% and 10.82%, respectively. South America and the Middle East will follow, with CAGRs of 10.75% and 10.55%, respectively.
In Asia-Pacific, most casinos exist in Macau, Singapore, the Philippines, Cambodia, and Malaysia.
To accept payment from a gambler or a player, a casino or gaming merchant needs a casino merchant account that a Casino Payment Gateway Provider will provide.
Merchant accounts are a type of bank account that allows online gaming companies to accept payment from gamblers through various payment modes, including credit or debit cards, cryptocurrency, etc. Your new online casino won't be able to accept transactions made using debit or credit cards (like MasterCard or Visa) or by other payment methods without a merchant account.
An online casino payment gateway is a bit of technology that links a player's preferred payment method with the merchant accounts of online casinos. It accepts electronic payments by allowing players to load and withdraw funds from their casino accounts using various deposit options. Bank transfers, credit card payments, and cryptocurrency can all be accepted using payment gateways.
Payment gateways at online casinos typically function as an aggregator of real-money transaction methods. They transfer money securely between a gaming website's user base and its merchant account. However, there are a bunch of different uses for payment gateways in the gaming sector.
Although the security of the money is the main concern in a casino transaction, the right payment gateway can, however, support fraud prevention systems, KYC, ID checks, and increased customer retention rates. The payment gateway can enhance the user experience by streamlining the deposit process on gambling websites and providing customers with a variety of deposit and withdrawal options.
Since gambling is a high-risk industry, you need a High-Risk Payment Gateway. Selecting a gambling payment gateway provider can be complex. A number of things must be taken into account before applying. You must confirm the availability of a few vital aspects before choosing a merchant payment gateway. To mention a few, you must look for the features listed below.
The international payment gateway for casino must provide its merchant with top-notch fraud prevention technology, including address verifying systems, card security code checkers, Payment Card Industry Data Security Standard (PCI DSS) compliance, real-time fraud scoring, geographical tracking, 3D Security Authentication, chargeback prevention tools, and other fraud protection features.
Online casinos are popular these days, literally everywhere. Make sure your payment gateway supports numerous languages and a variety of currencies. In casinos and online gaming, cryptocurrencies are widely used. Make certain that the payment gateway provider handling your casino merchant account can allow you to use newly developed payment options.
Moreover, consider the pricing, approval times, contract terms, 24*7 customer service, new technology, ease of integration, and POS solutions.
It was not easy to compile this list of 5 Best Casino Payment Gateway Providers Worldwide. After all-inclusive research, we have picked the best 5, so you can easily choose one.
Casinos have a long history; if you want to open a casino merchant account, we've covered five key companies in the field of online payments here. Each of our recommended payment gateways offers modern security features and lightning-fast transaction processing times. They have become the finest casino payment provider in the world due to their handling of data, fraud, and anti-money laundering protocols. PayCly, a newly emerging company that offers the lowest price compared to its peers, is an option you might consider with high risk merchant account solutions via our expert team.