Once they find their way into the market, traditional casinos can create a more structured, aligned way of making profits. Ultimately, as long as they can keep a steady, consistent stream of bettors coming to their site, they can develop their business and find their way in the industry.
For sweepstakes casinos, the path isn’t as clear, and while traditional casinos might have more competition, it is considered more complex for sweepstakes casinos to build a successful operation. Their whole foundation revolves around in-game currency tokens, and they don’t have the same sort of worldwide appeal as established, traditional, online casino gaming platforms.
However, sweepstakes casinos will allow you to purchase in-game tokens using various payment options, and today, we will be breaking down some of the most common and popular ones that people use. So, while you might not be able to place wagers with your cash directly, there are dozens of ways to deposit your cash and buy in-game currencies.
It’s been over 25 years since PayPal launched and truly showed how the internet could provide a safe, secure way for people to send money – regardless of where you’re located. The Californian fintech goliath has carved out a prominent, established route for people looking to sell goods or services online.
Millions of people use the app every day, and sweepstakes casino companies are acutely aware of how easy it is for people to send their money via PayPal.
PayPal rarely implements deposit fees, and with a number of payment protections and guarantees that underwrite their operation, if you do fall foul of a rogue element or scam, they’re easy to contact and have offices worldwide. Given the size and scope of its financial operation, PayPal is often at the forefront of fintech solutions, emphasizing the importance of data security.
By linking to your email address and verifying your identity, PayPal is renowned as one of the best business payment platforms. It is considered one of the best payment methods for sweepstakes casinos – you and the provider are guaranteed the same level of service.
Apple and Google Pay
Using our mobile phones as makeshift credit cards is all the range in 2024. With over 1.2 billion iPhones in circulation and the number continuing to rise, Apple Pay has become a big player in the new world of digital finance.
Sweepstakes casinos are more than happy to accept Apple Pay customers; not only does it utilize the security of the cloud, encrypting the transaction at each end, but you can contact Apple Pay quickly if there’s an issue with your payment.
Modern-day companies are setting off on the wrong foot if they don’t have digital wallet facilities where you can instantly deposit on their site, and the same principle applies to Google Pay and Android devices.
Although physical credit cards aren’t redundant, they no longer have the importance they once had, and a large part of that is down to the emergence and subsequent success of digital wallets, Apple and Google Pay.
Visa and Mastercard
Don’t worry; traditional payments are still accepted en masse by sweepstakes casinos, and for you traditionalists out there, the whole financial world doesn’t revolve around smartphones and digital payments. Visa and Mastercard remain the two most prominent pillars of global finance, dealing with billions of individual transactions every day.
All of the positive points we pointed out about PayPal apply to Visa and Mastercard; they have longstanding, deep-rooted ties with traditional finance and banking companies. In addition, if you have a problem with your Visa or Mastercard, you can easily raise a dispute with them, either directly or via your bank.
Due to the emergence of biometric security and face ID, all the payment methods we have discussed today make up the bulk of popular payment methods used by sweepstakes casino customers. Visa remains so popular because you can physically enter the card details or add them to your digital wallet, so it’s arguably the most flexible method.
Other notable payment methods
Skrill and American Express are two other popular payment methods. However, some sweepstakes providers might enact an Amex fee or have deposit limits if you use specific payment systems like Skrill.
On the other hand, both of these companies are well-established and boast a global digital presence – they’re hardly minnows and they employ thousands of people. Still, many people opt for Google, Apple Pay, Visa and Mastercard because of the distinct lack of fees and a stronger, more visible presence.
One option that has emerged as a serious potential future frontrunner is Bitcoin and cryptocurrency payment methods. While they might have a different reputation or customer base than established, mainstream alternatives, many believe we’re beginning to experience a digital asset revolution.
Cryptocurrency play to earn games, AI and casino gaming are spearheading the main narratives ahead of a potential 2024 bull run, so it could be a big year for crypto payments in casino gaming, which, of course, includes sweepstakes casinos that accept it as a form of payment.
Ultimately, all of the payment methods we have touched on today should fit the bill as a suitable payment method. PayPal, Google or Apple Pay, cryptocurrencies, Visa and Mastercard all come with a stamp of approval from happy sweepstakes casino players.
As there are at least half a dozen payment methods that could easily claim to be the best payment method for sweepstakes casino gamers, the best one boils down to your choice. Preference and gaming behavior or patterns determine much of the activity. With sweepstakes casinos experiencing a boost in popularity, there are more than enough games and payment methods for everybody to explore.
Some players who do all their banking and gaming on their phones prefer a digital wallet or PayPal payment. However, suppose you’re somebody of an older generation, still using card numbers for your transactions. In that case, you might prefer to stick to the traditional Visa method. One thing, however, can be said with certainty – you have many options at your fingertips.
Follow the relevant local laws and regulations for online casinos, as they differ across various countries and regions.