Cryptocurrency: The Best Payment Method for Players and Bookie Agents

If you want to become a bookie today, you must have thought about using pay per head services.

This is a package comprising a website, sportsbook software, thousands of betting markets every year, customer support, and other bookmaking tools. Apart from that, price per head companies provide payment options, eliminating your need to partner with individual processors.

Most pay per head companies are based offshore. Therefore, finding the right payment methods for your players is usually an uphill task. Typically, most processors refuse to process gamblers’ money to avoid breaking various laws.

For example, the Unlawful Internet Gambling Enforcement Act of 2006 regulates online gambling in the United States, limiting banks from processing money between players and offshore gambling platforms, including pay per head bookies.

Yet, this does not leave bookies without other options. Find out which cryptocurrencies your clients can use below. We also share alternate payment methods for players and agents.

Cryptocurrencies

Virtual currencies have gained massive popularity in the past few years. Players love these currencies for various reasons. However, privacy and low transaction fees top the list.

With countries imposing different laws to curb illegal gambling and discourage their residents from placing bets with offshore players, bookies have found alternative safe methods. Cryptocurrency transactions are anonymous.

This suggests that you can send money to your crypto wallet and transfer the money to your gambling account without anyone detecting it. Ideally, no one can identify your crypto wallet because it uses an address instead of a name, resident address, or other personal information.

Cryptocurrency transactions are instant. So, whether you want to deposit or withdraw, you can complete a transaction in seconds.

Most cryptos do not charge a transaction fee. Therefore, you can avoid huge transaction fees imposed on credit cards and go for cryptocurrency. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, Stellar, and Litecoin.

Traditional methods and Gift Cards

Some players still trust traditional payment methods over virtual currency. If you have several such clients, you can still offer them ideal payment methods such as MoneyGram and Western Union.

Alternatively, they can use gift cards from various brands. Your clients can either buy gift cards from suggested stores in the country or purchase e-gift cards online.

When you move your betting business online, you no longer have to meet your players to process payments. Your clients can deposit funds to wager and withdraw conveniently through cryptocurrency or other payment options.

Agents can also pay fees for bookmaking services using these methods too. Talk with your pay per head company to choose your preferred payment options before setting up your bookie account.

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