Menu
Casinos / Entertainment / Online Games

E-wallet at Online Casinos is Similar to a Bank Account

online casinos

Gambling Payment Services: E-Wallets

One of the main advantages of online casinos is their 24/7 availability. Betting for money in the slots of virtual gaming sites can be done whenever and wherever. In this case, the only technical condition is the presence of a device for Internet access and a stable communication channel. And the first and second are easy to get, even with minimal investment. Usually it is enough to have a modern cell phone https://en.wikipedia.org/wiki/Mobile_phone. The most important option of this approach is the ability to store money remotely. Every player who has set up an account at an online casino has his or her own online casino account.

Saving money at the proper level is of paramount importance. This is one of the key indicators of the reliability of the establishment as a whole. In other words, despite the fact that the money is not in the player’s hands, he can freely dispose of it to interact with the slots. If you do not count the possibility of transferring real money into the in-game currency, the main characteristic is the speed of crediting and withdrawal of money to a real bank account. This also includes the limits set in this context.

How Does It Work

It should be made clear at once that an e-wallet on an online casino server and a bank account are not the same thing. Despite the fact that the main function in both cases is to save money, the secondary differences are very significant. The most significant of them include:

  • money is tied to an account in the casino, can only be used for the appointment of bets;
  • no interest is accrued on the balance of the gaming account;
  • It is impossible to use game funds to pay for purchases in conventional stores;
  • you cannot use the money from the account to transfer to the player’s account.

This method of storage copes with its main task just great. The client of the online casino can use his funds in the gameplay in any order. It does not matter how many slots are presented on the playground, or who their provider is. All funds can be applied to assign bets in classic video games, roulette, card offers or bingo.

Most gambling establishments use their own virtual monetary units. For example, in the classic Spin Samuraj Casino these are coins. Some people call them tokens or game dollars. This approach is necessary to make the provision of the establishment equally easy for visitors from any country, with different currencies. Conversion into the casino’s monetary system takes place automatically at a given rate. Often, during a gambling session, a client is offered information about the account balance both in their own monetary units and in the local currency.

Security of Funds is Guaranteed

The level of capitalization of the largest online casinos is in the hundreds of millions of dollars. For all the significance of such amounts, they still do not reach a similar figure in the banking industry. However, both of these types of institutions spend a lot to ensure the safety of the client’s electronic funds.

For the casino guest, the first step in this direction is to open his own account. For all the simplicity of this step, you need to fill out your information responsibly, since any inaccuracy can be critical if access to your account is restored.

As a rule, it is bound to a cell phone number. Sometimes to the email box. Casinos with crystal clear reputations may ask for other data as well. Such extra hassle is then compensated many times over by the advantages of gambling.

The establishment develops a scheme of work with the game account, which is most convenient for the client. It takes into account the current risks. In general, the order of overcoming unscheduled situations can be presented in the following way

Risks

Ways of solving

Lost password

Restore access via phone number, email or secret question

Network failure

Use of backup servers with different localization and additional power supplies

Increased load on the server

Building workstations on modern equipment with increased resources.

Account hacking attempt

Use of high-strength cryptographic technologies. Timely updating of security parameters.

DDOS attack on the server

Implement mechanisms to detect spam bots

Although technically it is very simple to open an online casino, the administration of the institutions prefer not to take risks and use the most reliable servers https://www.britannica.com/technology/server, which can process huge amounts of data in milliseconds.

Any Money Transactions in One Click

online casinosAs already indicated, the ability to play online slots real money is provided by the casino guests with a personal cash account. The main types of transactions include:

  • crediting of money to the account and its withdrawal;
  • automatic conversion into game currency;
  • using in slots when assigning bets;
  • receiving prize coins and winnings.

The in-game payment system is thoroughly tested before launching. As a rule, programmers do not write it from scratch, but use already ready and well-proven pieces of digital software. Such an approach makes it easier for the state authorities issuing licenses to check the place.

Prospects for Improving Financial Mechanisms

Already today, the operational capabilities of the casino gaming account are significantly superior to those parameters that were at the dawn of virtual gambling establishments. The simple storage of money was transformed into a functional tool, allowing to carry out actions instantly and safely.

The main emphasis in the further development of the order of using a gaming account is to increase its functionality and speed of access. So, today it can be managed from a cell phone at any time of the day or night. Now such technologies are being developed as:

  • maximum integration of the game payment system into the banking system;
  • possibility of using funds to make payments;
  • introduction of financial mechanisms into the game account.

Electronic wallet game sites today provide complete safety of funds that are deposited on it. Using it is as safe as a bank account. Some players use this approach as a backup means of saving their operational resources.

Read more entertainment and casino articles at ClichéMag.com
Images provided by Flickr, Unsplash, Pexels, Pixabay & Creative Commons

About Author

I'm an interactive digital experience bringing you the latest in fashion, music, entertainment, art and social media & technology. I was created in 2009 in the hopes of making your life more fun by giving you a media consumption experience unparalleled to any other.