A user-friendly platform is now essential in today’s fast-paced, competitive digital world, where new sites are introduced daily, and competition is fierce. You currently have access to a state-of-the-art sports betting website that offers a wide variety of bet kinds and betting markets and is equipped with all the newest features and functionality. But have you thought about the websites that provide various sports betting payment methods? Numerous top-tier sports betting companies struggle to stand out in the market because of their inadequate sports betting payment solutions. They are not convenient for their users.
Every platform’s success primarily relies on how simple it is for users to complete transactions. Giving your customers a choice to select the online betting payment methods that suit their best helps to facilitate transactions without worry. Additionally, reliable and seamless online betting payment methods allow you to increase consumer confidence in your platform and make it trustworthy.
But let’s be honest: Finding reputable betting payment options for internet bookmakers can be a difficult and scary endeavor. Choosing the best payment method for your sports betting platform might be challenging with the variety of online betting site payment options accessible today. And if you did a quick Google search, you probably found many betting-related online payment services that all claimed to be the best option. Bettors worldwide have agreed that deposit to betting companies with Skrill is one of the most flexible payment alternatives available.
What Is a Payment Gateway?
By securely transmitting credit card data from a website to a payment network, a payment gateway is a piece of software that enables online and e-commerce enterprises to make payments. The merchant is then informed that the payment has been processed safely after receiving the transaction information. Although it can seem like a quick and straightforward process, it requires many back-end components to work together to ensure that money is transferred from buyer to seller securely and without incident.
List of the Most Popular Payment Methods for Online Betting
- Cardinity: One of the better payment options for online betting sites that offer high-risk merchant accounts is Cardinity. The payment gateway provider processes various online gambling activities, including betting, sports betting, games of chance, poker, online casinos, dice games, and others. It has a 3D secure customer authentication tool and is PCI DSS compliant, allowing you to lower the risk of chargebacks drastically.
- Harvexs: Accepting debit and credit cards, facilitating online betting payment providers, and giving you casino merchant accounts are all made possible by the Harvexs payment gateway. The payment provider has licenses from the UK/Malta, Curacao, and other jurisdictions that allow you to abide by their regulations. Additionally, Harvex allows cash and cryptocurrencies, allowing your users to wager and conduct sports betting transactions easily.
- Ikajo: Ikajo is another dependable online betting payment service that accepts 100+ currencies and 100+ payment choices and operates in 150+ nations worldwide. Anti-fraud tools, sophisticated analytics, intelligent routing, and advanced analytics are also included with Ikajo.
- Merchant Scout: 30+ payment methods, 30+ merchant banks, and 150+ currencies are all supported by Merchant Scout. Merchant Scouts supports a variety of sectors, including sports betting, sportsbooks, online, bingo, binary options, skill games, and lottery. They have a track record of meeting the needs of 50+ online sports betting software and casinos.
- Latpay: Latpay offers advanced payment options for sports betting, online casinos, lotteries, and bingo, as well as high-risk industries like travel and forex. Latpay’s excellent compatibility and security are its main features. With an ID verification system, Laypay also enables you to get to know your clients.
- First Data (Fiserv): First Data supports sports betting, fantasy sports, lotteries, online gaming, and casinos and is furnished with fraud and security tools, prepaid open-loop cards, ACH platforms, and disbursement solutions.
- PurePay: PurePay offers payment choices for customers in North America and Europe, supports crypto payments globally, and gives companies access to alternative payment solutions. PurePay has emerged as a top choice because of its 3D security and quick payment alternatives.
- Instabill: Instabill accepts gift cards as payment and offers a variety of online games, including blackjack, poker, slots, and online casinos. Within five business days to two weeks, the approval of the merchant accounts is given. The payment gateway has rigorous security standards and guards against chargebacks.
- Skrill: Skrill offers rapid transfers and is accessible in 200 countries. Low transaction costs, superior security, and simple payment methods make Skrill betting the best alternative. Some of the top online betting companies with Skrill employ sports betting software programmes, including Betway, Bet365, Royal Panda, Badog, and many others.
- Neteller: In the world of online sports betting, Neteller is very popular. Neteller is one of the safest payment methods and covers more than 200 nations. Neteller is used by many sports betting websites in the UK, Canada, and other countries to facilitate quick payments.
More Alternative Payment Options
1. iDEAL
Customers can use their bank to make payments online using this technique (the bank must be connected to the collaborating bank’s network). Improved control options over the account and transaction flow are provided by iDEAL. It is the approach to use if you want to reach the Netherlands. 57% of people in 2018 used this payment option.
2. Klarna
The primary goal of Klarna is to offer quick and easy online payments. Numerous platforms can easily use this provider. It covers the following nations—Sweden, Denmark, Germany, the Netherlands, Norway, Belgium, Austria, Switzerland, etc.—Klarna is a fantastic approach for covering Western and Northern Europe.
3. Giropay
Customers can use this service to make payments without registering and use their PIN to verify their transactions. Giropay functions similarly to iDEAL by using the customer’s online bank. It works with smartphones, tablets, and PCs. If you operate your gambling website in Germany, you should select Giropay as your payment option.
4. Qiwi
Users favor this E-wallet because of how simple and open it is. An account can only be created using a mobile number. Customers can use Qiwi to pay for a few gambling platforms directly from their wallets. You must have this payment option if you operate in the CIS region.
Important Factors to Consider While Considering a Payment Option
Cards that are accepted
The most widely used are Visa, MasterCard, and American Express credit cards. The majority of payment gateways accept each of these card kinds. Make sure your payment gateways can process that card if your customers commonly pay you with a different card, like a debit card or a Diners Club card.
Integration is a straightforward process
E-stores are almost usually connected to a transaction involving money and a number of different payment methods. The website of your business should therefore include payment processing. A payment provider that sends your customers to a third-party website where they can enter their credit card information is an excellent solution in such cases. After the transaction, the supplier refers your customer to your online business.
Consumer Assistance
Finding a payment processor with 24-hour customer care is essential for your business because some payment gateway services have service limitations. If something goes wrong, you need to be able to correct it as soon as you can to avoid losing business. Although you can read instructions and follow them, there may be times when you need technical support, so having it available is crucial.
Take recurring billing into consideration
The use of payment gateways in software-as-a-service companies is rising. The SaaS model is great, but it depends on recurring billing, a crucial aspect of transactions. You charge the same amount to your consumers each month for a subscription service. An intelligent payment gateway not only makes it easy to collect monthly payments automatically, but it also fixes many other issues. For instance, it can help you deal with failed credit card payments.
Wrapping Up
There is no denying that no one enjoys a betting site with limited payment alternatives. Before selecting your final choice, make sure a website offers its customers several payment channels, such as MasterCard, Visa, Skrill, and PayPal. Since you might not always be able to pay using the same means, there must be a variety of payment options available. If not, you risk missing out on a good betting opportunity.
