Credit card investments in the iGaming industry have been growing rapidly in recent years. Many countries and regions actively promote gambling as one of the most promising niches for credit card payments. Therefore, if you are interested in how the iGaming industry works and investing in it, we recommend checking out the information below.
Factors to Consider When Depositing with a Credit Card
As in any other area, iGaming has specific factors based on which you can understand whether using your credit card on an iGaming website is safe or not. Below is a brief analysis of such factors.
Presence of Self-Exclusion Tools like Gamstop
First of all, at this stage, gambling is very different from what it used to be. All honest platforms promote responsible gambling and inform players about addiction problems and the availability of self-exclusion tools like GamStop.
But GamStop is shrinking its potential customer base, which could lead to lower revenues and profits for gambling companies. On the other hand, if an iGaming site has GamStop, you can be sure it is safe to use your bank card. Just remember that in the UK, gambling with credit cards is prohibited and you can only use debit cards instead.
Licensing Requirements
The iGaming industry is heavily regulated in most countries, and investors should know the licensing requirements and regulations for the jurisdictions they wish to invest in.
A license can cost 1000-6000 EUR, depending on the region. Taxes, annual reports, and commissions will also be included in additional finance.
Losing licenses is much easier than getting them. It is enough to break just one rule, even by accident, to lose the right to conduct business legally. Such strict conditions are mandatory to ensure safe, fair, and comfortable gambling. But, if you are choosing any NonStop site that accepts credit cards, it can be an additional factor in favor of an iGaming site’s trustworthiness.
The Reputation of an iGaming Site
iGaming companies heavily rely on their brand and reputation to attract and retain customers. Reputation is one of the main factors that will be decisive. The higher the casino's reputation, the more software providers and content for gamblers, and the safer it is to trust it with your credit card details.
Top iGaming Markets Where Credit Cards Are Used
Gambling is, in truth, famous all over the world. However, experts see impressive potential and huge prospects for expansion in emerging markets like Africa and Asia. However, these regions are rather weak in gambling regulation, so it's not worth paying attention to them for the time being. However, at the moment, there are two central regions where credit cards are used the most: Europe and North America.
Europe
The European iGaming market is the largest in the world, with countries such as the UK, Malta, and Gibraltar leading the way. The licenses of these countries are the most promising and respectable, and there are many iGaming sites that accept credit cards still exist. It was not in vain that we mentioned licenses as one of the factors for investment. GamStop, for instance, has been developed in Britain, and the country is one of the largest gaming countries in the world, and the UK gambling industry is booming after the global pandemic.
North America
It would be a mistake not to include North America in this list. A huge advantage for iGaming is a large number of online and offline establishments, which undoubtedly attracts a vast amount of investment. Sports betting is very popular in the USA, giving betting companies a relatively strong impetus. The US iGaming market is expanding rapidly, with more states legalizing online gambling and sports betting.
Credit Card Depositing: Risk and Opportunities
Using credit cards in the iGaming industry is always about opportunities and risks. With the advent of various tools and strict policies, interest in gambling is constantly balancing between collapse and big profit.
Risks
As mentioned earlier, the iGaming industry is in a state of balance. This is due to the frequent updating of laws, rules, and conditions, which may cause additional costs for the company. The most lethal outcome is blocking the gambling platform in a certain region. On the one hand, if the region is not the main one, then this can be skipped and ignored. On the other hand, if the platform is locked in the very center of the European iGaming market, it can affect its income negatively.
Opportunities
The iGaming industry is growing rapidly, with increasing numbers of people using credit cards on gambling platforms. Online gambling has been brought to a new level and opened access to more users, which undoubtedly positively affects income and profit indicators. Strong competition motivates operators to implement new and advanced security measures for protecting the credit card information of their users. Respectively, disclosing your credit card details to iGaming sites gradually becomes safer.
Conclusion
If you have been considering investing in iGaming with the help of a credit card, we hope this material will be helpful. Each market has its demand, and this is a combination of several factors: regulation, economy, culture, habits, and favorite categories of gambling. Therefore, before promoting investments, you need to study this segment thoroughly. Otherwise, it won't be easy to make a profit.
ABOUT THE AUTHOR
Aleksandra Djurdjevic
Senior Content Creator
Aleksandra Djurdjevic is a senior writer and editor, covering jewelry, accessories, and trends. She’s also works with services, home décor. She has previously worked as ESL teacher for English Tochka. Aleksandra graduated from the Comparative Literature department at the Faculty of Philosophy in Serbia. Aleksandra’s love for the environment, crafts and natural products over the years helps her continue to be a top expert at Wooden Earth.
