How Can Online Casinos Guarantee a Safe and Fast Payout – Gambling is a staple of human culture and society. Since the oldest civilizations, people have been wagering goods on games of chance.
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How Can Online Casinos Guarantee a Safe and Fast Payout
And throughout history, this drive to gamble has only grown. In the late 20th century, the digital age had just begun, which made it possible to bring casino games to one’s home.
Online gambling is exactly what it sounds like. Playing any and all of your favorite gambling games from the comfort of your own home. Whether you use a PC, smartphone, or any other electronic device to do so, online casinos offer fast payouts, and safe connections, and have made the iGaming industry a multi-billion-dollar business.
But, how can online casinos guarantee safe and fast payouts? What software do they use to ensure your information remains secure? In this article, we go over the steps that online casinos take to protect their customers’ safety and enable quick and safe payouts.
Security Encryption
One of the ways in which online casinos ensure a secure experience is by incorporating a security encryption protocol in their web design.
In 2023, online transactions are more common than ever. Experts have estimated that billions of dollars go into e-shopping, e-banking, or other forms of online transactions daily. So, there has to be a way to protect all that money.
Luckily, IT professionals have managed to develop some excellent encryption protocols, the most notable of which is SSL. By using SSL, or similar security encryption protocols, online casinos can guarantee a safe and secure experience.
So, how does it all work? It is quite simple in theory. The party that sends the cash encrypts all of the information and then sends it out as a single data package. Once the recipient gets ahold of the cipher, they can break it down, in order to gain access to the information.
In this case, even if a third party manages to get ahold of the data package, they cannot break down the cipher, as they lack the necessary tools to do so.
Licensers and Auditors
Ensuring security is just one aspect of online gambling safety. Fair gameplay is another part of the whole deal. When software developers create their games, they must focus on not just gameplay, visuals, and audio, but also fair and balanced odds.
And no matter how trustworthy a casino or a developer may be, a third party should always be involved when it comes to testing these games.
And it is here that auditors, licensing commissions, and play testers come in. One of the most notable gambling auditors in the world today is eCommerce Online Gaming Regulation and Assurance, or simply eCOGRA.
Founded in 2003, in London, the audit firm has worked diligently for two decades to ensure a safe and secure gambling industry.
Licensing firms are also a big part of gambling, both land-based and online. Usually, licenses are government-sponsored firms, whose goal is to ensure that a casino is fair and safe.
They test the games, go over the odds, and look for any signs of cheating. The most notable licenses come from the following countries, usually situated in Europe or the Caribbean:
- United Kingdom
- Panama
- Malta
- Curacao
- Cyprus
When looking for a safe and secure website, you should always ensure that the casino is licensed by a notable authority. If the website has been audited by eCOGRA or other similar websites, it is likely quite safe.
Reputation is Key
While licenses and audits are important, there is another key aspect of locating a safe and secure website. And it is the oldest way to judge businesses, by reputation.
It is important to note here, that reputation should not be your only measure. However, if a website is reputable, that means it is a step in the right direction.
The best way to find out whether a website has a stellar reputation is to look at its social media following. Check out their Facebook page, their follow count on Instagram, and what people are saying about them on Twitter. If you find mostly positive responses, then the website is, at least, worth looking into.
Different Payment Options
Finally, another way in which online casinos ensure safe, fast, and secure payouts is by using multiple different payment options. Often, the payout speed depends entirely on the method you use to make the deposit and withdrawal.
After all, there is usually a third party that has to process the payment. So, in this final section, we are going to look at the different popular payment methods and discuss which ones are the fastest and safest.
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Credit/Debit Cards
Credit cards are the oldest payment method at online casinos. In fact, for a long time, they were the only payment option that gamblers had.
Today, most online casinos accept MasterCard and VISA payments from both credit and debit cards. US casinos will often accept American Express as well.
Credit and debit cards are usually quite safe because the transaction goes through three different parties. The customer, the credit card company/affiliated bank, and finally the casino.
However, this also makes it one of the slower options, as the processing time is doubled. Still, payouts usually don’t last longer than a couple of hours. So, if you have the patience, we would definitely recommend this option.
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Cryptocurrency
Cryptocurrency is the latest addition to the online gambling industry. Crypto-based deposits and withdrawals have become incredibly popular. The most commonly used cryptos are Bitcoin, Ethereum, Tether, etc.
As crypto works on a peer-to-peer system, transactions are often safe and fast. However, the volatility of the market is a big drawback here. So, we recommend newbie gamblers avoid using crypto unless they have prior experience with crypto trading.
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E-wallets
Among the most popular deposit and withdrawal options are e-wallets. They are incredibly safe, usually faster than credit/debit cards, and most online casinos accept notable ones like Neteller and Skrill.
So, we would recommend e-wallets as the safest choice. Certainly, one of the most popular options among experienced gamblers.
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