jowoj There are very distinct advantages that would make a player choose PayID casinos over other casino sites that offer different payment methods:
PayID Casinos
- Faster Transactions: Depositing or withdrawing any funds from a PayID casino will take no more than a couple of minutes as players will be able to use the funds almost right away. This is great for players who are looking to cash out their winnings without having to wait.
- Safety: There is a risk of transfers being intercepted but PayID assures that the chances of this happening are next to none. This is done by employing the use of email or phone numbers as identifiers which further prevents fraud4.
- No Fees: Normally, a PayID transfer will not have any additional charges which make it very convenient for gamers in Australia.
- Geographic Restrictions: Currently, PayID is only offered in Australia so international players cannot take advantage of this service.
Other Payment Methods
- Wire Transfers: They are worldwide and multicurrency, however, Wire Transfer can take quite a while for a withdrawal to process and will also usually contain some fees.
- E-Wallets (PayPal, Skrill): These provide instantaneous transactions at almost any corner of the world. They act as a mediatory service which stops the e-casinos from ever seeing any bank information from you. The only downside is that they may come with some fees for different services.
- Credit or Debit Cards: These options are more common and convenient but they can take longer to process and the casino may charge a fee.
- Cryptocurrencies: Bitcoin and other cryptocurrencies allow players to keep their identity private and to make fast payments. These methods, however, are volatile and not everyone is able to use them.
To conclude, the main problems with PayID are its limited usage outside of Australia, which is a major drawback, and its speed and affordability of transfers. Other payment options such as e-wallets, PayPal or credit cards however offer convenience and scalability but can incur higher transaction fees and take longer to process. It would depend on the player’s home location as well as whether the player is more concerned with speed or costs.
