The global market opportunities & strategies report projects that gambling will surpass £565 billion by the end of 2022. The UK gambling sector enjoyed huge growth in the period 2019-2020, a GGY of £14.25 billion was generated. According to projections, the online gambling revenue in the UK will grow to reflect a CAGR of 5.20% during the period 2020-2025. Should the current growth continues, the online gambling market in the UK could be worth over £23.9 billion by the year 2025.
Gaming Operators: Reputation & Reliable Services
As the fastest-growing, of all, the casino industry continues to enjoy active growth in online casino games, online poker and online sports betting generating a huge potential for payment providers. The reputation of gaming operators is their main asset, important factors include being licensed by the UK Gambling Commission. Followed by high-quality services, strict security, fair gaming, trustworthiness, and unmatched entertainment quality and quantity.
Flexible, Reliable Payment Services
Flexible payment solutions are essential in making all services available most securely and conveniently possible. Online gambling companies not only need to provide instant payment options but also various deposit and withdrawal choices. Security-focused alternative payment solutions are vital, players spend more if deposits are quick and easy and winnings are received instantly or within a very short period.
Why Online Gamblers Prefer Trustly
The main reason why online gamblers prefer Trustly as a payment service provider is seamless account-to-account deposits and withdrawals. Unlike many other payment providers, Trustly has gone the extra mile and surveyed consumer behaviour and preferences across nine EU markets.
Strengthening Member Loyalty via Seamless Payments
Trustly is a payment service provider that understands that fast, hassle-free access to winnings is the key to players. At the same time, it promotes player loyalty to online gambling operators by offering flexible and reliable services via a trustworthy payment provider.
Online gaming operators invest massive resources in attracting new customers, according to the registration and deposit abandonment study by Jumio’s Mobile showed that 24 % of players drop out during registration. Optimove a CRMM specialist revealed that one in every three players who complete registration makes their first deposit within 24 hours.
The results of the survey done by Trustly showed that around 94% of online players want instant access to winnings. It also revealed that 80% would visit online casinos that offer instant payments of winnings more frequently.
Instant Withdrawal
The payment experience, whether it’s online or mobile payments, makes up a huge part of a new member’s overall experience. Apart from offering fast withdrawals, online gambling operators can stand out from their competitors by offering a sleeker experience to players.
Online Gambling & Pay N Play Solution
Online gaming companies utilizing the Trustly Pay N Play solution can offer gaming services in which there is no need for the player to go through the registration process. Pay N Play offers unbeatable Trustly merchant services in which the payment provider extracts all the needed information from the bank account of the player and fulfils KYC process requirements.
The data is then delivered to the online operator, who registers the account for the player in the background. It is a great new service in the online gaming industry.
Pay N Play Benefits
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Players do not need to complete the sometimes lengthy registration forms
80% of new customers or players leave within 39 seconds up to 195 seconds during the registration process
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New players do not need to submit their identification documents or copies of bills
Many players fail to copy and submit bills not older than three months, it’s an added hassle and often the reason for the abandonment registration
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Online gaming operators can instantly verify the player’s age and identity
The Pay N Play service by Trustly ensure players get to play faster and the casino can verify that the player is of legal gambling age instantly
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Ensures the casino operator stays compliant with the KYC regulations
Trustly stands out in terms of payment platforms, online operators need to adhere to the regulations of the Crime and Money Laundering Act. KYC means Know Your Customer, it is also the process that requires regulated and licensed operators offering gambling in real money to verify players’ source of income via financial data to prevent anti-money laundering and fraud.
Multi-channel Payments
The success of an online gambling business depends on providing players with choice, one of the most important is different payment channels. Capita’s Pay360 prevents bonus abuse and identifies problem gamblers via multi-channel solutions for player authentication, risk management, fraud management, automation and payments.
After 18 years of processing payments, Pay360 makes it possible for online betting and casino operators to accept global payments and to provide more money transfer options.
The Main Advantages of Using Payment Services by Pay360:
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Convenience via Mobile-First Approach
Smart automation via the sophisticated Pay360 rules engine provides players with a streamlined experience with high responsive mobile options that ensure an easy and fast way to deposit at the best UK slot sites.
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Easier Secure Payments Globally
Pay360 is one of the payment providers that not only make it possible to accept payments from customers but also make it easier for players via a huge choice in safe and reliable global payments. This includes direct debits and cards, P2P, AOMs and barcode payments within GDPR and PCI-DSS compliance responsibility.
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Bonus Abuse Prevention
Optimized to counter fraud the risk management platform supports AML anti-money laundering, ID&V identity verification, and KYC. By monitoring the codes players use and uncovering links via IP addresses, and mobile device data, Pay360 spots top-spending customers and prevents the abuse of bonuses.
Global Adaptivity
At first, the gaming business operators were very skeptical about Trustly’s Pay N Play, one of the concerns was that the offering of faster withdrawals of winnings may yield financial benefits.
Is Pay N Play Accepted Globally?
Oven 100 top brands now utilize Pay N Play and enjoy the competitive advantage of the game-changing product that 100% proves that a frictionless experience and instant payment methods are key to customer loyalty.
Pay360 Multi-Currency Global Payments
Pay360 makes it possible to accept multi-currency payments from international players and has had strong relationships with UK banks for the past 18 years. The payment solutions are versatile and can be used via an internet merchant account or as a payment gateway to allow refunds, repeat payments and pre-authorizations.
Risk Mitigation via Tokenisation
This is a process in which confidential data gets replaced via non-confidential data(token) is called tokenization. It is also how Samsung Pay, Apple Pay and Google Pay protect the user’s card details.
What is a Token?
A token in the card payments industry is a non-confidential value that replaces the PAN primary account number. Not all tokens are the same, these vary according to main categories such as issuer tokens, acquiring tokens and payment tokens.
Tokenisation Process
The tokenisation technology protects online players via a secure process that removes the risks involved with using cards for online payments. The cardholder registers the card by entering the data into the digital wallet application, which then sends that data to a TR token requestor.
The TR forwards the data to the TSP token service provider, which registers it and verifies it with the issuer of the card and request a new token. Once everything is verified and correct, the TSP goes ahead and registers the PAN, links it to the new token in the token vault.
How does Tokenisation Protect Players if Their Device Get Lost or Stolen?
Tokenisation is one of the safest ways to protect the user, the original PAN is never stored or saved on the device of the end-user. The payment token is securely stored via which the transaction was made.
Artificial Intelligence
Artificial intelligence is used in the online gambling industry to attract new players and to provide the casino with a competitive advantage by analyzing data. Online players expect a variety of secure payments options, such as e-wallets, bank transfer options, debit cards and more.
AI assists the online casino business operators to personalize services successfully via the tracking of players’ behaviour, which means the casino can cater to the ever-changing needs of individual clients. It is an exceptionally handy tool that makes cross-selling possible while attracting and help managing online players.
Payment Bonuses
The online casino industry is focused on using bonuses to retain and attract customers. The number of bonuses and structures constantly adapts to cater to the changing requirements of players. Payment bonuses are used to support existing active customers and to reward new customers, the correct use of deals and offers can also be successful in re-activating inactive members.
Bonuses themselves and the way these are used continue to evolve, given their effectiveness and simplicity, bonus rewards will remain one of the top online gambling development strategies for many years to come.
Excellent Customer Service
Excellent customer service is no longer quick response by the casino, good bonus terms or a wide variety of games. Payment methods play a bigger role in the success of online and mobile gambling than ever before.
Research shows that players want faster registration, most want a service that preferably excludes lengthy application forms and eliminates the sending of identification and statements or bills. Online gambling business success depends on the payment services provider that can offer all these preferences neatly wrapped into a global-friendly package.
Player Experience is Important for Payment Solutions
The huge and continuous growth in online gambling clearly indicates that the confidence of consumers in paying online has increased. This not only spurs growth in online gambling but also demands a wider variety of payment solutions that offers convenience via instant deposits and withdrawals.
Topping-up is Seamless and Secure
Mobile gambling is a major driver of growth in internet gambling, more players turn to mobility as a preference in enjoying online entertainment anywhere. Due to technology, mobile users enjoy the same benefits such as remarkable graphics and a seamless gaming experience as online players. This places further demand on payment companies to offer secure transactions enabling users to fund their casino accounts via the same payment method across all platforms.
Gaming Spend Control
Having control over the amount and the time spent gambling is one of the best tools found at all UKGC casinos. Time trackers at these sites show how long the member is signed in and allow the player to set alerts that appear on a pop-up screen.
Spend control is also one of the main reasons why clients prefer to spend funds via e-wallets, it is easy to keep track of transactions and it removes the risk of overspending.
Instant payouts
Transaction speed matters most in the gambling industry and therefore the biggest player magnet is instant payouts. A year ago many online betting and gambling sites advertised themselves as fast paying casinos, but in the increasingly and highly competitive online entertainment world faster is out and the new magic word is instant. And this has been adopted by the newest slot sites to come out this year.
