With the rise of interest in online casinos, payment methods are key to giving players quality gaming. A slow or malfunctioning banking option can deter gamers from this pastime, which is why many online gambling sites put a big emphasis on collaborating with well-renowned payment methods. As such, e-wallets are one of the most popular options.
In the Philippines, e-wallets are some of the most used ways to facilitate online gambling transactions. Out of the many, GCash stands out. You can check out the online casino Philippines GCash by Casino10 to learn more about why this particular e-wallet is so popular. According to Hiraya Alonto, a professional content maker and senior advisor at Casino10,
“More than 30 banks agreed to cooperate with this payment system for the convenience of their residents.”
But why is it happening? Why are e-wallets so popular? Keep reading to learn about how this payment method rose to fame in the Philippines and some of its most notable benefits.
The Rise of e-Wallets in Filipino Online Casinos
Thanks to several governmental initiatives, e-wallets have now become one of the most used payment methods in every sphere in the Philippines. Their popularity increased to the point where now many Filipino players use e-wallets when gambling instead of credit or debit cards. In fact, around 58 million people use an e-wallet for some type of transaction. It is projected to skyrocket to 81 million users by 2025. Online casinos mostly use GCash to allow players easy access to their services and seamless, safe transactions.
Benefits of Using e-Wallets at Online Casinos in the Philippines
As you might guess, there are plenty of benefits to using an e-wallet. These are why many Filipinos consider opening an online casino as a small business. Namely, digital wallets like GCash facilitate all payments in the casino while providing security and convenience. Let’s see more about these pros in detail.
Quick Transactions
E-wallets allow very fast deposits and withdrawals. With around 24 hours of processing time for withdrawals and usually instant deposits, players can swiftly add any amount they want into their wallets.
Better Security
Unlike credit or debit cards, which are easier to hack or steal, e-wallets offer better security. They use encryption and authentication methods to protect your financial and personal data. Moreover, they have the Know Your Customer (KYC) procedures, monitor all transactions, and report any suspicious actions to the relevant authorities. All of this is to ensure that no fraudulent activities take place.
In fact, generally, all e-wallets require a pin to open them, making them harder to breach by third and unwanted parties. Of course, they also have a detailed and secure authentication process even at the time of creating your account. It is usually done by asking for proof of identity, like an ID card.
Easily Accessible
The best thing about e-wallets is that you can access them from anywhere as long as you have a stable internet connection. Whereas credit or debit cards need physical proof that you can use to deposit or withdraw money, e-wallets allow you to enter your funds online and transfer as much as you want between them and the casino. It streamlines the whole process, making it a very efficient payment method.
One other thing about accessibility is that e-wallets typically offer various currencies. GCash works with local Filipino currency, meaning players don’t have to lose money on conversions. There are also e-wallets like Maya or GrabPay that offer the same service.
Low Transaction Fees
Sometimes, Filipino casinos impose fees on some methods. Moreover, credit cards usually have a fee of their own, regardless of the online casino’s policy. It inevitably translates to losing money. Luckily, e-wallets (in most cases) don’t have fees. You can take out how much you want from your casino account and deposit it into your wallet without paying anything for that transaction. In simple words, you keep everything you’ve made while gaming in your favorite Filipino online casino.
Available Games & Bonuses
Another huge benefit of using e-wallets in online casinos in the Philippines is the bonuses and games tied to them. More often than not, casinos link promotions to a certain method. For example, by using GCash to deposit, you can earn a 100% match up to ₱100. As for the games, usually, if the casino approves a method, you can play everything in the gaming repertoire. Depositing with an e-wallet will make it easier for you to access a variety of online casino games. It includes slots as well as table games like poker, blackjack, and baccarat.
Final Words
E-wallets are a payment method that all quality online casinos have nowadays. Gaming sites in the Philippines recognize the need for this option since it facilitates the transaction process for all players. Giving them a chance to access their funds and game at any time, coupled with the high security and low (if any) transaction fees, e-wallets are a growing banking option.
Most of them even offer the Philippine peso, cutting down on conversion fees. All of it provides more convenience and ease of use of the casino platform. All in all, digital wallets have a bright future. With the development of overall technology, it wouldn’t be a surprise to see them toppling over credit and debit cards when it comes to playing in online casinos in the Philippines.
