PayPal Tops Wall Street Forecast: Taking One Stop Close To Being The Dominant Form Of Payment In Online Gambling

Reading Time: 2 minutes

PayPal shares have soared according to the latest Wall Street figures, with revenue growth of the Silicon Valley company surpassing even its own forecasts and now standing at an incredible $3.68bn. One industry which has no doubt contributed to PayPal’s meteoric rise is the online gambling sector. As the casino experience has become more and more digital, so too have the methods that gamblers use to pay for their play. In this article we’re going to explore the different types of payment options, including PayPal, that gamblers use to see whether it is truly the dominant party.

For the few that might not know, PayPal is an American company that operates a worldwide payment system. They are based around online monetary transactions and serves as an electric alternative to paper methods of paying for products or services like cash, cheques and money orders.

Since its founding 20 years ago in 1998, PayPal has become one of the world’s most popular methods of paying for goods or services online, not least online gambling sites. The proliferation and rising popularity of PayPal being used as a core payment method for online casinos is because many companies offer incentives and bonuses if users opt for the American company. While security alone is often enough to encourage the use, the use of bonuses or free plays as incentives often provides benefits for both the user and the company themselves through lower or non-existent fees and easier, near-instantaneous transactions.

Neteller, on the other hand, is an e-money transfer service that was once predominantly used by merchant banks, trading and social network firms to withdraw and transfer funds for business transactions using their Net+ card accounts.

Over the years however, Neteller has garnered the trust of the gambling community for its thrill-free method of depositing, fast payouts and phenomenal security.

One reason Neteller has become so popular amongst gamblers is because it lets you trade in different forms of e-currency including Bank Wire and Bitcoin. Plus, thanks to its impenetrable security, the service has become particularly favored by high rollers, as it enables them to transfer large funds without fear of losing their winnings.

While those outside of the gambling industry may be none the wiser, Skrill Moneybookers has been the platform of choice for thousands of players in recent years. Skrill is a UK based e-commerce business that supports online monetary payments with a specific focus on low cost international transfers.

Founded in 2001, Skrill does not charge its customers a transfer fee when they send directly to a bank account, making it the most cost effective payment option to appear on our list. As a result few e-commerce companies are as well recognised and widely used in the online gambling industry as Skrill. Supporting 40 different currencies in over 200 different countries across the globe, Skrill is also regulated by the Financial Conduct Authority (FCA) meaning that every piece of information sent from Skrill to online casinos is fully encrypted.

As you can see, the battle for most popular form of payment in the online gambling industry has not been won just yet. While PayPal offers great incentivized bonuses, Neteller provides impenetrable security and Skrill gives you great value for your money, making them both worthy alternatives. Ultimately it’s up to your personal preferences, so the only question that remains is which will you choose?

George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Share
Published by
George Miller

Recent Posts

Week 29 slot games releases

  Introducing Sherlock of London™, the latest online slot from award-winning entertainment provider Microgaming. Developed exclusively by Rabcat, the creators…

12 hours ago

DouYu International Holdings Ltd Raises $775 Million in U.S. IPO

  DouYu International Holdings Ltd, a Chinese video-streaming service which is backed by the Tencent Holdings Ltd, has raised $775…

12 hours ago

Fortuna Becomes the Official Sponsor of Stomil Olsztyn in Poland

  Bookmaker Fortuna has signed a deal with the Polish football club Stomil Olsztyn and become the official sponsor of…

13 hours ago

CEEGC2019 Speaker Profile (Poland Briefing): Ewa Lejman (Head of Polish Desk at WH Partners)

  Polish business lawyer with over 12 years of experience of assisting clients on matters related to gaming and gambling,…

13 hours ago

UK Minister Considers Raising the Minimum Age Limit for National Lottery Scratchcards

  Mims Davies, the Minister for Sport and Civil Society in the UK, has announced that the minimum age to…

13 hours ago

GAN Reports Internet Gambling Growth in New Jersey for June 2019

  GAN plc has updated the market following the publication on July 13, 2019, by the New Jersey’s Division of…

13 hours ago