People who step foot in an online betting website for the first time are usually impressed with many things. Besides the bonuses, features, and betting categories, users are also blown away by the number of Payment options and their limits. Many iGaming companies know that those things are very important, so they try to provide customers with the best alternatives possible. Buy which are these alternatives, and how do they work? We are about to find out.

Vouchers

Despite not being the most popular payment option you will find on an iGaming website, vouchers have their role in the business. In fact, if you are an online bettor in South Africa, fund your account with Yesplay voucher and start using the site’s options right away. This is very convenient for a lot of people because they do not need to open separate accounts or use their bank.

While it is true that using vouchers has its advantages, there are also certain drawbacks that people need to know. The first thing that comes to mind is that those vouchers have a fixed amount. Usually, they are $5, $10, $15 or more (in the currency equivalent), which means that people who want to be more specific with their deposit will not be able to do that.

Another thing that you should know about using vouchers in a gambling platform in South Africa is that you will probably not be able to get every bonus. Most offers will usually require a specific payment gateway.

Lastly, vouchers are also not among the eligible payment options to use for withdrawals. However, since some sites allow their clients to use them, people are free to pick a different payment gateway for their withdrawals.

Cards

Credit and debit cards continue to be popular for people who want to bet online in many parts of the world, including South Africa. Despite the drawbacks of using such things, they are convenient because users do not need to rely on third-party payment providers. Moreover, they have a lot of money to work with because these cards are usually associated with their bank accounts.

Sadly, this is where the positives end because these payment gateways have a lot of drawbacks. Starting with the obvious, using your credit/debit cards for gambling is not as secure as other Payment Solutions. Since they contain sensitive information, hackers who bypass the encryption systems can access it and use it for many other things.

Another fact about credit and debit cards and online gambling is that some countries no longer allow gamblers to use them when betting online. It seems like there is an ongoing trend to remove those payment gateways from the betting industry, so it is probably best to focus on something else.

E-wallets

By far the most popular payment option for online gambling in South Africa and many other parts of the world is the digital wallet. Most websites have at least a couple of them because they are fast and convenient. Moreover, these options provide an additional layer of security that makes them very attractive for online gamblers.

The number of digital wallets you will find depends on the gambling site you are using. Some have more alternatives than others and will include things like Skrill, Neteller, ecoPayz, and more. Others will only focus on one or two options.

The thing about e-wallets that makes them popular (besides the security features) is the transaction speed and the low minimum amounts. People can make large or small deposits, and their payments will arrive instantly. Withdrawals are also much faster than usual, another big advantage of using a digital wallet.

Something to keep in mind about e-wallets is that certain bonuses may not be available if you decide to use this option. You may have to read the full Terms and Conditions before choosing the given deal because this will help you see what to avoid.

Cryptocurrencies

If there is one payment option that has become a lot more popular in the last couple of years, it is cryptocurrency. There are many gambling websites that accept those types of payment solutions because they believe that this is the future. Whether you think the same or not, there is no arguing that those payment solutions are very convenient.

For starters, they allow you to make fast transactions and have nothing to do with your bank account. This is a huge plus because many believe using them is not as risky as some of the other options on the list.

Another thing with crypto is the wide range of currencies you can try out. Bitcoin is often the go-to alternative because of its popularity, but many sites accept many other options. You can find Dogecoin, Ethereum, XRP, and more. All of these payment solutions have low minimum deposit and withdrawal requirements and usually will not get in your way of obtaining the bonus you want.

The only issue with cryptocurrencies for online gambling is that their value is volatile, so you may spend more than you thought. Of course, this also works the other way around because bookies risk allowing you to deposit way less than they have anticipated.

Other payment solutions

Gambling sites in South Africa offer one of the most diverse ranges of deposit and withdrawal gateways because locals are interested in a lot of things. We have already included those that are more popular than others, but this does not mean that people can’t find other things.

For example, bank transfers are crucial for many people, and they still use them today. Sure, this payment gateway is known for its fees and the fact that it is not that popular, but people like it because they are able to deposit or withdraw much more money than usual.

Cash Terminals are another thing that has fans in certain parts of the country. However, it seems like most gamblers prefer using other alternatives, so most people who rely on it will need to focus on something else.

Author Details

Name –  Will Lincoln

Description –  With many years of experience in the banking department of iGaming sites, Will has all the answers you need.

The post Vouchers, cards, e-wallets, cryptocurrencies – The payment options in the online betting industry in South Africa appeared first on Insights Success.