Worldpay Study Highlights Importance of Payments in Gaming and Betting Industry

The gaming and betting industry is at the forefront of using payments to improve customer acquisition and loyalty, according to a recent Worldpay study.The report reveals that consumers in this industry increasingly demand payment options, prioritizing speed, security and ease for both deposits and withdrawals.

For gaming and betting operators, payment efficiency can no longer be an afterthought; it should be a constant priority. A strategic approach to payments can become critical to customer retention and growth, as well as optimizing financial results.

Worldpay research indicates that gaming and betting consumers expect seamless and personalized payment experiences.Debit and credit cards still dominate the market, accounting for 35% of transactions in the U. S., but digital wallets and alternative payment methods such as A2A (Pix in Brazil) are gaining ground.

A2A payments offer significant benefits such as lower transaction costs, near-instant settlement and higher authorization ratios. With 70% of players valuing payout speed and 44% reusing winnings for new bets, the availability of real-time payment systems with instant settlement is attractive to both consumers and operators.

The survey revealed that 27% of players would give up an action if their preferred payment method was not available. This highlights the importance of offering a wide range of payment options.Efficient payments have the power to increase revenue and loyalty, providing a significant competitive advantage for operators who innovate in their payment journeys and gaming experiences.

With regulation of fewer markets and organic growth slowing in regulated markets, competition is fiercer than ever before. Profits are under constant scrutiny from executives, analysts and shareholders, making payment innovation even more crucial.