When an online gambler wants to have a flutter from the comfort of their own home, they still want to maintain the high-stakes atmosphere of the casino floor. The nervous ticking of the roulette wheel. The jubilant ringing of a slot machine pouring out coins. The excitement of the dealer turning the river in a poker game.
Yet one aspect of the casino experience that is often overlooked when companies move online, to the frustration of the customer, is the ease with which chips can be bought and exchanged in brick-and-mortar casinos. When taking gambling onto hosted websites and apps, this translates into depositing and withdrawing funds. Whereas in a Las Vegas casino you simply pay the cashier and receive your chips instantly, the process online can sometimes be much slower, complicated and convoluted, leading to customer dissatisfaction and drop-off.
A major challenge for the online gambling industry is getting players to deposit regularly. To encourage this, online gambling companies need to optimise all the controllables on their website.
The customer holds all the cards
Customer choice and convenience are essential in making the deposit process as frictionless as possible.
The key element of this is letting your customers pay using the method they want. What this means for online gambling companies is that all major debit and credit cards should be accepted, as well as multi-currency payments, direct bank transfers, casino wallets and pre-paid card programs.
Also important are local payment methods such as Paypal, Alipay and Qiwi (also known as eWallets). Offering several of these options is beneficial because each has significant market share in different countries around the globe. For example, if you want to break into the lucrative Chinese market, Alipay is what you should be using, as the vast majority of their 450 million users are from China. By identifying which local payment methods are prevalent in which territories, online gambling companies can strategically tune their approach to instigate expansion.
As preference shifts increasingly towards mobile apps, it is also becoming more and more important to allow on-the-go payments so that customers can top-up their accounts whenever they want, wherever they are. Having a payments system that saves card details and has alternative payment accounts linked up to the gambling platform means that players will be able to deposit at the touch of a button, which suits both the gambling company and the customer perfectly.
Similar to deposits, customers want their withdrawals to be fast and easy, with minimal stress in transferring winnings to their bank accounts. One of the most frustrating elements of online gambling is knowing that you have funds sitting in your online gambling account that you can’t touch, or when the withdrawal of money is delayed in entering your personal bank account to be spent.
The same key methods for money deposits should be used for withdrawals. The player wants to be treated as an equal, so being able to withdraw funds as fast as he or she deposits them. This is what the nature of games of chance is built upon; nobody wants to play against a trickster using loaded dice, and customers don’t want to give their money to mistrustful gambling companies. If gambling sites are not fair with their payments, customers will very soon feel betrayed and jump ship.
Once more, local payment methods and multi-currency are key, so that withdrawals are quick and seamless, and the customer is kept glowing from their jackpot win.
Trust is the key to a winning hand and to increasing customer loyalty
When you choose an online payments processor to help your gambling business to take the winnings that the market has to offer, the essential factor that will keep your customers depositing cash is trust in your payment system. By choosing a payments provider that has a wealth of experience in ecommerce for online gaming operators and casinos, you can earn this trust without hassle.
Find out how Secure Trading can help your company to keep deposits flooding in. Get in touch now.