Ryan Spencer from Johnslots Reveals What Digital Payment Methods Bring to the iGaming Table

In 2024, internet users have never had more options when it comes to paying for goods and services. Whether it’s through debit or credit cards, bank wire transfers, e-wallets, or even cryptocurrency, the world of digital payments is open and inclusive to nearly every paying customer.

This is especially evident in the iGaming scene. Just last week, we investigated a total of five online casinos, and we found over two dozen alternative digital payment methods. If you had some LTC or USDT in your pocket, you could log onto a casino today and put down a crypto deposit. You could also do this with anything from Skrill, Neteller, PayPal, Mastercard, Paysafecard, Visa – the list just goes on and on.

So why is this important? What makes alternative digital payment methods so important for casino players, and what exactly do they bring to the iGaming table? We went to Ryan Spencer, an established casino payment specialist at Johnslots, and he walked us through the ins and outs of what’s going on.

The Question of Security

As a highly knowledgeable casino specialist, Ryan Spencer knows all there is to know about the realm of payment methods, ensuring that players can easily navigate the deposit and withdrawal process when they’re playing online. After asking him what digital payment methods bring to the table, he started by talking us through security.

‘The reason you’re seeing a big emphasis on digital payment methods in 2024 is because the world has changed. These days, every internet user is a lot more astute to security and safety, and this hasn’t always been offered during an online experience. Traditional online bank transfers, specifically, have left user data and personal information out in the open.

‘As a result, more users have switched to more secure transfer methods like Paysafecard or PayRetailers. These expert payment companies are constantly adopting new, security-related technologies, while casino platforms are constantly integrating them as payment options to draw in more players.’

Growing Regulation

Continuing in this vein, Spencer moved on to talk about iGaming regulation, and how its continuing global adoption have made digital payment methods more important.

‘As of 2024, it’s projected that the online casino market will reach around $107 billion. This number began building over a decade ago, however. As more users got involved with online casinos, online transactions surged, and this drove governments to enhance data and financial security. Casinos have an obligation to protect users and provide the safest and most secure methods for deposits and withdrawals. Regulation has also increased, especially in Brazil, Argentina, and Colombia. As global regulation increases, so too does the emphasis on payment method services.’

Convenience and Speed

At this point, we asked Ryan whether there was anything else that digital payment methods brought to the table, other than security and safety.

‘Of course. There’s a reason why online casinos are so popular. Convenience. Users want to take out their phone, find an online casino, play a few slots or tables, and do it all within a few minutes. That’s what is expected of online casinos in 2024. But that can’t be achieved if the payment process slows everything down.

‘Skrill, for instance, offers tight security measures and faster than average transaction speeds. Users who want to pay with Skrill would be disappointed if it wasn’t included as an option, especially if the options they are given are less efficient, with variable withdrawal requirements and transaction times. The online casino experience has to be smooth and efficient across the board.

‘Why do you think crypto casinos are growing more popular? It’s because blockchain payments are famously fast and secure. If players know that a platform is giving them those options for their digital wallet, then they’re going to play with that casino. The more digital payment options a casino has, the faster and more convenient the experience will be, and the more players are likely to choose their services.’

A Final Word

Understanding a little bit more about digital payment methods and what they bring to the iGaming table, we finished by asking Ryan what he believed were the best payment methods in 2024.

‘I know I’m a casino payment specialist, so I should really have an answer for this! But the truth is, the best payment method will always depend on the individual and what they are comfortable with. I can guide them through the importance of secure and efficient transactions, helping them to make informed decisions, but I can’t make the decision for them. The best thing to do is read the reviews, do your research, and go for the payment option that suits you on every level’