Cryptocurrency is Becoming Most Valid Way to Deposit and Get Bonuses at Online Bookmakers
Bitcoin has fast become the number one deposit method, cryptocurrency or not, for not only the largest online sportsbooks but the smaller, lesser-known guys as well. Bitcoin is considered to be the largest cryptocurrency in the world and has literally taken the gaming industry by storm.
- Cryptocurrencies as a safer, more efficient solution for client deposits. MoneyGram and Western Union have taken themselves out of the market for a clear-cut reason; money laundering. Money laundering is a massive global problem and it’s the last thing bookies want caught up in. Reputable bookmakers steer clear of any financial discrepancies and what they are finding; cryptocurrencies are on the rise.
- There are several reasons, but the number one reason would be what we talked about above, MoneyGram and Western Union are no longer a reliable source for bookies or gamblers. The limits are low, and the cutoffs are quick.
- Western Union has quickly become a dinosaur in and around the entire gaming world. They limit deposit amounts; they limit the number of times per month that an individual may deposit and then they will cut off the depositor completely. Both Western Union and MoneyGram view offshore depositors with an eye of skepticism. They have simply stopped doing business as they once did.
- For a client to use Bitcoin, they must have a Bitcoin e-wallet. The client will have an account and either use a mobile device or a PC. Once the client has secured Bitcoins in his wallet, they can then make payments to merchants with the use of an exclusive address for the recipient The process is easy, quick and comes with no hassle.
- There are more than a few reasons to not accept credit cards from your gaming clients and the first and foremost reason would be chargebacks. Anybody that has ever been a part of the sportsbook-gaming industry at large, they know and can attest to the risk of accepting credit cards. It’s no lie, credit cards are quick, easy and certainly a fast way of getting the money in, but the financial loss can outweigh the gain. The “big timers” they can afford the losses, and you can believe, they take huge losses.
- Credit card losses happen like this… New clients that have never deposited will call a sportsbook, they will make a deposit with a credit card and then they will bet, then they will lose, what happens next is a call to the bank (the credit card company), they lie to the bank and tell them they don’t recognize the charge, or they claim their card was lost/or stolen.
- Nine out of ten times, the bank will offer a provisional credit and eventually charge-off what was a false claim of fraud. The banks will always give their clients preference over an off-shore gaming establishment.
- Many bookies disguise their merchant’s name, so as to show no correlation with any type of gaming. This changes nothing, a charge back is still a charge back. The banks nearly always show preference to their client.
- Credit card processors cost a small fortune and effect the bottom line of a small business. It’s not cheap to find a processor that will work with your business model and comply with what you do. Again, you can disguise your business and call it “corn farmers of Iowa” but why do business this way? What a hassle and a giant headache.
- There is no questioning the value of cryptocurrency and Bitcoin. Bitcoin has been around since 2009 and is by far the most widely traded cryptocurrency. You will benefit greatly from adding this tool to your deposit, and payout arsenal.
Call your PPH for help and they can give (will be glad to give) free advice and pointers as to getting started with accepting Bitcoin. The beauty of Bitcoin is your clients will not be turned down. When they want to deposit, they deposit with no hassle, no calling the bank, no crazy security checks from the credit card provider, just acceptance.