Inside iGaming Payment Systems: Trends, Statistics, and Expert Views from Lidiia Vakulenko of Atlaslive

The rise of online payment methods has become essential for today's digital age, particularly in the iGaming industry, which offers a wide range of activities like sports betting, virtual sports, esports, and casino games. Players and bettors now demand quick and convenient deposit and betting options, prioritizing reliable payment systems.

iGaming platform developers are keenly aware of this need. They aim to provide not just engaging games and bonuses but also a huge number of dependable payment methods. Meeting the needs of both operators and players in different regions is crucial to capturing interesting markets.

This article delves into the importance of payment systems in the iGaming world, highlighting current trends and valuable statistics to understand player preferences and operator requirements. Atlaslive, a leading B2B software provider with a customizable Sportsbook Platform, shares its expert insights and the benefits its Payment Hub offers to operators and players.

The Variety of Payment Methods in iGaming and Atlaslive’s Payment Hub

According to research, the iGaming market is projected to grow to $583.69 billion by the end of 2030. To keep pace with this rapid growth and serve players globally, iGaming businesses must offer an outstanding UX, which includes a diverse range of payment methods. This is where iGaming payment providers come in, facilitating smooth money transfers between players and casinos by creating and managing specialized transaction systems. They ensure funds are transferred accurately and promptly.

As the industry evolves, countries develop their payment systems and local methods. Atlaslive, for instance, has integrated over 250 payment methods into its system, including cryptocurrencies, to operate in various markets. In Brazil, where Atlaslive has many B2B partnerships, PIX is a popular payment method. It complies with local regulations and is favored for its speed, security, and QR code convenience. Players simply receive a QR code with the specified deposit or bet amount. PIX transactions are secure, using advanced encryption and authentication to protect financial data.

Atlaslive's Payment Hub is more than just a gateway for operators to connect with popular payment methods in their markets. It involves a dedicated team that focuses on integrating new systems, updating, monitoring, and optimizing all related processes. They maintain constant communication and provide comprehensive support to their partners.

Meanwhile, we actively research and identify what players and bettors want, ensuring they can place bets quickly during peak sports events or make deposits effortlessly to enjoy bonuses and slot games. What do they want most? Minimal effort, fewer clicks, and faster access to their winnings. Speed and security of data and funds are paramount, so we meticulously select stable and advanced payment methods to meet these demands.

Embracing Cryptocurrencies for Millennial Gamers

The iGaming industry understands the importance of offering a variety of payment options to its diverse audience. Beyond traditional methods like credit cards and bank transfers, the industry has welcomed digital solutions like cryptocurrencies, reflecting its commitment to cater to players from all backgrounds.

Cryptocurrencies have gained significant traction in iGaming over the last decade. Once a niche interest, they are now a mainstream payment option. More platforms are accepting cryptocurrencies, a trend driven by the preferences of Millennial gamers — about 55% of whom own cryptocurrency, with 80% interested in using it for in-game purchases. The appeal lies in the speed, security, and convenience cryptocurrencies offer, providing a quick and safe alternative to traditional banking.

Atlaslive’s platform is crypto-friendly, accommodating players who prefer using cryptocurrencies for sports betting or casino deposits. Transactions are fast and secure, thanks to modern technologies. As the volume of crypto-based payments grows annually, Atlaslive continues to innovate, ensuring our platform supports these modern payment methods and provides a secure gaming experience.

Meeting iGaming Operators' Payment System Requirements

iGaming operators have clear expectations for their payment systems: successful and rapid transactions without delays, aiming for a 100% conversion rate. Broad coverage is also essential; operators want all popular payment methods in a particular country available to their players.

Open APIs offered by some payment systems can expedite online payments, allowing players to top up their accounts instantly and operators to receive payments quickly. This enhances efficiency and convenience in financial operations. Payment systems with open APIs offer speedy transactions, instant sign-ups, flexible deposits, quick payouts, and high deposit acceptance rates, which are precisely what today’s iGaming operators seek.

Atlaslive customizes all components of its platform, including the Payment Hub, to offer a flexible and tailored experience for operators and their target audiences. Our tech capabilities enable partners to adjust payment settings and customized limits, tailoring conditions to suit different games and markets. For example, enabling deposits or cashiers can be done with a single click. The more customizable options—such as currency, transaction amount, and profit from the last withdrawal — available to operators, the smoother the player's journey will be.

By providing personalized and customizable payment solutions, Atlaslive ensures operators can meet their specific needs, enhancing the overall player experience and fostering loyalty.