Best Payment Method for Online Betting Sites

In several countries, online betting sites are not allowed, and the users from that specific country have to opt for some other methods that are pretty expensive. These limited payment methods charge high fees and extra charges for nothing. To avoid these hassles, it is recommended that you shift to crypto and pay for the betting sites using these coins.

Bitcoins are widespread in many countries, and they are legal in most of them. The transaction fees are very small or sometimes even non-existent compared to credit cards, debit cards, bank wires or other traditional methods used by online betting site operators. This makes bitcoins the best online payment method for betting sites.

Just like in real-life casinos, there will be a bankroll, but it is defined differently. In the online gambling world, bankroll means the number of bets placed on a specific match or sports event.

What's wrong with Bitcoin Payment Method?

Well, the first problem is the higher volatility of the bitcoin prices. If a user wants to place a bet and he has to use bitcoins, then he will have to pay more for his round of betting and so on. The prices can vary very high. This makes it difficult for bitcoin users to get hold of bitcoins in large amounts.

Another problem is the exchange rate. Bitcoin users are paying foreign transaction fees that can go up or down depending upon the bitcoin exchange rates. And because every payment done via Bitcoin involves a certain amount of transaction fees, it actually becomes cheaper if you can use your credit card and if you have enough funds in your account to cover the fees.

On top of that, there is the problem of security too. When you pay using bitcoins, there is no way to ensure that the bitcoins will be delivered to the receiver. So in case of fraud, a single bad actor might get away with your money, and you will never know.

You need Faster and Safer Payment Options

Besides these issues, the biggest problem is that it defeats the purpose of bitcoins. Like I said earlier, one of the underlying reasons for bitcoin's popularity was that it was a more secure payment method for people who don't trust any banks or governments with their funds. Using bitcoins would give them more control over their money and make them more independent from government policies and bank regulations.

But if users are forced to use traditional payment methods for online betting sites, then they actually lose control over their money in many ways as well.

Why is Global Game Token recommended for Casinos?

Global Game Token or GG Token is a trusted payment partner for the leading companies in the online gambling and betting industry. Unlike bitcoin, GGTKN has a stable value that is not affected by the bitcoin trends in the market. Most of the online casinos and sites are already accepting GG Token as a verified payment method.

The fees are also lower than bitcoin and other local payment methods. Paying with GGTKN is also much safer. There are no chances of losing the privacy of your payment details like in bitcoin transactions, where hackers can easily steal your details and get access to your money. The GGTKN team has created a multi-signature wallet technology that makes it impossible for anyone to steal money from you.