Exploring igaming payment systems: Trends, statistics, and key insights from Lidiia Vakulenko, COO of Atlaslive
Lidiia Vakulenko, COO of Atlaslive, examines the role of payment systems in igaming, dynamic trends, and valuable statistics to understand player preferences and operator requirements.
Opinion.- The expansion of online payment methods globally has shifted from being a trend to an absolute necessity for modern people, especially in the igaming industry with its diverse offerings.
Whether it’s sports betting, virtual sports tournaments, esports, or exciting casino games, everyone has their preference.
For any of these options, the speed of deposit payments or bets and the convenience of using various payment methods platforms offer are crucial for today’s players and bettors.
Technologically savvy developers of igaming platforms, who offer their products to operators, focus not only on filling their platforms with games and bonuses but also on providing a variety of reliable payment systems. These developers understand that capturing interesting markets requires addressing the needs of both operators and players in different regions.
This article explores the role of payment systems in igaming, dynamic trends, and insightful statistics to understand what players value most and what operators need.
Atlaslive, a B2B software provider with its in-house customizable Sportsbook Platform, shares its expert thoughts on this matter and highlights the major benefits it offers to operators and players through its Payment Hub.
The diversity of payment methods in igaming and Atlaslive’s payment hub
By the end of 2030, the igaming market is expected to grow even further, reaching $583.69bn, according to research. To keep up with this rapid expansion and cater to players worldwide, igaming businesses must offer an exceptional user experience, including a variety of payment methods.
This is where igaming payment providers step in. These companies facilitate money transfers between players and casinos, creating and managing specialized systems for these transactions. They act as intermediaries, ensuring the right amount of money reaches the right place at the right time.
As times change, different countries introduce their own payment systems and local methods. Today, Atlaslive has over 250 payment methods, including cryptocurrencies, integrated into the system. This allows operations in various markets.
For instance, in Brazil, where the company has signed many B2B partnerships, PIX remains one of the most popular payment methods. This method complies with local regulations and is very convenient for players due to its speed, security, and ease of use with a QR code.
Players receive a QR code with the amount specified for deposits or sports bets. PIX transactions are secure, using advanced encryption and authentication protocols to protect all financial data.
When we talk about our Payment Hub, we mean more than just a gateway that allows operators to connect with the popular payment methods in their market.
We also refer to our dedicated team focused not only on integrating new systems across different markets but also on updating, monitoring, and optimizing all related processes. We maintain communication and provide full support to our partners.
On the other hand, we research and identify the needs of the players and bettors themselves, giving them what they want so they can easily place a bet during peak moments of certain sports events or make a deposit to get a bonus and play a slot game, for example.
What do they want? They want to spend less effort on all this, meaning minimal clicks and maximum speed in receiving their winnings. Speed and the security of players’ data and funds are extremely important, so we spend a lot of time selecting stable and tech-savvy payment methods.
Millennial gamers, cryptocurrency as an alternative to banking methods
The igaming sector knows how vital it is to offer different payment options for its diverse audience. Moving beyond traditional methods like credit cards and bank transfers, the industry has embraced digital solutions like cryptocurrencies. This shift shows the industry’s dedication to accommodating players from all walks of life.
Cryptocurrencies have become a big deal in igaming over the past decade. What used to be a niche interest has turned into a mainstream investment. More and more igaming platforms now accept cryptocurrencies, and this trend is only growing.
About 55 per cent of Millennial gamers own cryptocurrency, and 80 per cent are interested in using it for in-game purchases. The appeal of cryptocurrency lies in its speed, security, and convenience, offering players a quick and safe alternative to traditional banking methods.
Talking about the possibilities of using crypto for sports betting or casino deposits, the Atlaslive Platform is crypto-friendly. If a player finds it more convenient and beneficial to place a bet in crypto, we provide that option, as everyone understands that the transaction will be super fast and secure thanks to modern technologies.
Cryptomoney plays a growing role in the payment industry, with the volume of crypto-based payments growing year on year. At Atlaslive, we strive to stay ahead of these trends. We continuously innovate to ensure our platform supports these modern payment methods, providing our partners’ players with the best and most secure gaming experience.
The requirements of igaming operators for payment systems
igaming operators today have some clear expectations for their payment systems. First and foremost, they want every payment to go through successfully and quickly without delays – ideally, they aim for 100 per cent conversion. Another critical requirement is broad coverage. For example, if there are five popular payment methods in a particular country, operators want all five to be available for their players.
Open APIs offered by some payment systems can significantly speed up the processing of online payments, allowing players to instantly top up their accounts and operators to receive payments quickly. This boosts efficiency and makes financial operations more convenient.
Overall, payment systems with open APIs provide both players and operators with speedy transactions, instant sign-ups, flexible deposits, quick payouts, and high deposit acceptance rates. This seamless and efficient payment process is exactly what today’s igaming operators are looking for.
Atlaslive customises all its components of the Platform, and its Payment Hub is no exception. Here, we’re talking about a B2B product, not just a standard offering. We create different tools and features inside of our Platform to deliver flexible and customizable experiences and meet the preferences of operators and their target audience.
Personalisation is key for operators when it comes to payment systems. They need to be able to set up and manage these systems according to their specific needs.
Thanks to Atlaslive’s tech capabilities, our partners can adjust certain payment settings and customized limits, tailoring conditions to suit different games and markets.
For example, if they want to enable deposits or cashiers, they can do so in one click. The more conditions — such as currency, transaction amount, profit from the last withdrawal, and more — that an operator can customize, the smoother the player’s journey will be.
