In its earlier days, gambling, poker rooms, and sports betting were hosted behind closed doors for the sake of privacy and anonymity.
Although public gambling was and is still a thing, the internet has pretty much changed the scope of gambling by introducing online gambling, or iGaming. This makes it possible for people to participate in gambling events from their comfort, and this increased internet accessibility has made iGaming more lucrative than physical gambling.
With further advancements in technology that introduce cryptocurrency, the scope of sports betting and iGaming, in general, can expand even further, as businesses have the opportunity to facilitate a massive increase in anonymity and privacy, which are native to cryptocurrency.
In this article, we’ll take a deep dive into the reasons why you should incorporate cryptocurrency payments into your sports betting platform and how you can go about it.
Understanding the Need For Crypto Payment Option
Cryptocurrency is eliminating the need for traditional banks for online transactions. The vulnerability of exposing vital information and data breaches as a result of casinos storing players' sensitive information no longer has to be a worry.
Cryptocurrencies are built on a decentralized technology called the blockchain. The blockchain records all transactions on what is known as a ledger, which ensures that transactions are transparent and secure. Although transactions on a blockchain network are transparent, they are also anonymous. No one knows who is sending what.
The centralized nature of traditional payments are being set aside, paving the way for the decentralized nature of crypto payments. While traditional payments are great, they pose a risk for an ever-changing business like sports betting. Traditional payment methods are slower, require third-party involvement, and usually charge higher service fees.
Why You Should Allow Crypto Payment Action In Your Sports Betting Platform
More Payment Options To Players
Traditional payment methods have limitations as to the methods and amount to pay. Also, in the event of any payment processing problems, there’s less chance of a resolution if it happens on a non-business day. Crypto payments offer a payment option with more flexibility. They are faster and more efficient, encouraging players to play more and spend more.
Reduced Transaction Risks
Traditional payment methods are prone to chargebacks and fraud risks. However, with crypto payments, once a payment is made, it is recorded on the blockchain, where it cannot be reversed or disputed. Thus generally reducing the risks of chargebacks and fraudulent transactions among gamblers on your sports betting platform.
Lower Processing Costs and Increased Profit Margins
Crypto payments have lower processing fees because they do not involve intermediaries like traditional banks or credit card companies. Transactions on the blockchain are free. However, using a crypto payment gateway like CCPayment can save up to 99.97% of your revenue. You can save on transaction fees and increase your profit margins. Additionally, crypto payments are faster, making your online players interested in spending more as they want to continue an enjoyable betting experience.
Privacy for Your Players
Cryptocurrency transactions offer a certain amount of anonymity, protecting user privacy and confidentiality. Even though not all cryptocurrencies provide total anonymity, they do help users preserve some degree of pseudonymity while protecting sensitive personal data. This option may appeal to people who respect their privacy and would rather keep their online gaming activity under wraps. This contrasts with traditional payment methods that store user information and are susceptible to cyber-attacks.
Crypto Payment Gateway for Your Sports Betting Platform
In the world of iGaming, where payment challenges and security concerns have been prevalent, finding a reliable solution that combines convenience, efficiency, and data security is essential, and CCPayment steps in to cater to this need.
CCPayment is a crypto payment gateway that utilizes an API integrated into your website, allowing you to receive payments from multiple cryptocurrencies while charging a meager processing fee of 0.03% for all transactions, allowing you to retain most of your profits.
Offering a comprehensive solution that addresses the shortcomings of traditional financial systems, CCPayment ensures a seamless experience for both gamers and operators. Here's why considering CCPayment is a wise choice:
- Security: CCPayment prioritizes security measures, protecting your casino and players from potential threats like hacking and fraud. Ensuring robust security in online payments is a top priority, especially within the gaming industry, where players may hesitate to disclose sensitive information.
Therefore, selecting a crypto payment gateway like CCPayment is essential. CCPayment incorporates essential security elements such as two-factor authentication, SSL encryption, and advanced fraud detection mechanisms. These safeguards are instrumental in guaranteeing the safety of players' transactions and data.
- Trusted by iGaming Industry Leaders: CCPayment is a trusted and established partner for numerous clients in the iGaming industry. With a proven track record and experience in the field, CCPayment is ideal for your iGaming website.
- Low Processing Fees: With its competitive fee arrangement, CCPayment emerges as an enticing choice for iGaming platforms. This enables you to provide enhanced value to your users, as the processing fee stands at just 0.03%. By opting for CCPayment, you can retain a greater portion of your revenue, ultimately delivering improved value to your user base.
- Option For Self-Hosted Payment Pages: CCPayment allows you to either choose its native payment gateway option or a self-hosted checkout page.
The former redirects the user to an external payment page hosted by CCPayment, where the payment will be processed. However, if you prefer a holistic experience for your iGaming website users, you can fully handle your checkout page by simply integrating the CCPayment API to build the checkout page on your hosted website.
Whether you favor ease or total control, CCPayment makes it all easy for you.
A sports betting platform that can easily receive payments in crypto is set apart by miles among its competitors. Cryptocurrency’s privacy, transparent, and secure features is the advantage that your platform should embrace.
The more players can trust your platform’s dedication to privacy and security, the happier and more loyal they will be.
CCPayment is dedicated to partnering with online businesses to make receiving crypto payments easier. There’s no need to wait anymore, integrate CCPayment to your platform and enjoy all the benefits of blockchain technology in your sports betting platform.