How the evolution of payment method options has helped online gaming

Payment methods haven’t just evolved with the times; they have been a catalyst for our world to become infinitely more digital.

16:13 25 March 2025

We don’t even think twice about using online payment systems in the modern world, whether tapping our iPhone on the terminal down the local Tesco or syncing our card details to pay for Spotify or our phone bill. 

Payment methods haven’t just evolved with the times; they have been a catalyst for our world to become infinitely more digital. Back when people were still using notes, coins and chequebooks, innovative payment method companies sought ways to use the internet and technological innovations as the foundations of a new universe of payment opportunities.

Online gaming – exploring the great experiment

Online gaming has always played a pivotal role in developing payment methods. It’s an industry that millions use daily across many countries. Therefore, gaming companies, particularly in areas such as online casino gaming, have become experimental grounds for innovative payment companies looking to test the popularity of their new payment technology. 

If it shows promise in industries like casino gaming, this popularity will likely eventually spread across the broader gaming world. This might sound a little reductive, and although there are caveats to this statement, this is ultimately what it boils down to. We’re not just referring to innovations in the types of payments used but also to the range of payment options that casino companies offer and the speed at which they pay out. 

Fast payout casinos are becoming increasingly sought after, as this factor is arguably the most common talking point among casino gamers. Irishluck has entrusted its experts with reviewing the fastest withdrawal casinos and which brands they think have the edge over the competition. Their expertise and knowledge are factors that are not just held in high regard by fellow industry professionals but also by casino gamers looking to find the best platforms that offer the quickest payout. 

Speed and convenience

Speed isn’t just an essential factor in the world of casino gaming – it is crucial that any payments, be they withdrawals or deposits, are executed promptly. Microtransactions are a great example of this, as they are predominantly used in mobile gaming. They involve several smaller purchases within games, sometimes only of a few pence, but the speed of the transaction is the crucial factor. 

These games market themselves as free, but by charging small fees and microtransactions to unlock different characters, levels and skins, popular games within these genres can generate a consistent profit stream. Microtransactions have been so successful that they now constitute a market valued in excess of £100 billion. 

Better transaction speeds in mobile gaming have helped it flourish as a growing part of the gaming world. As more companies climb on board with the importance of quick internet, whether you’re at home or abroad, the objective has moved toward payment options that cater for gamers who enjoy playing while on the move. 

If mobile gamers could not benefit from the speed of these payment systems or encountered difficulties, this would have hindered the progress of the broader gaming world. Companies would be far less keen to develop ideas and gaming options if the underlying market was known for lack of payment systems or slower facilities compared to desktops, laptops and PCs. 

Access to communities and support

While this might not be too much of an issue in general gaming, access to problem gambling tools and charities that can assist people online has been an integral part of the legitimacy of the online casino industry’s growth over the last 20 years. 

Yes, some regulators and detractors say that casinos can do more. While this is undoubtedly true of individual providers, the industry has a resolute approach to helping problem gamblers. Payment methods such as Visa and PayPal have facilities where those with an issue can block transactions entirely, preventing them from playing at any online casino. 

While land-based casinos have always championed safe gambling and have a duty of care to their customers, the evolution of payment methods has meant that platforms can monitor deposits, withdrawals and the amount a customer is losing, and restrict them from making further deposits if they signal that they have an issue with their gambling. 

Conclusion

The main reason online payment evolution has benefitted the online gaming world is simply down to better accessibility and convenience. Sure, a whole host of factors exist within both of these elements, but ultimately, this is what it boils down to. 

As payment methods continue to evolve and look to incorporate cutting-edge financial innovations that have emerged more recently, including blockchain, Bitcoin and altcoins, online gaming is already making plans to integrate these highly innovative options. 

As long as demand continues to drive this creativity, and the thirst for innovation continues cultivating and inspiring the biggest names in fintech, we will continue to witness the latest inventions within the vast online gaming ecosystem. It might be via mobile gaming or casino games, or there may be an attempt to partner with some of the larger game designers in home video console gaming, with a potential multibillion-pound market as the target.