Bojoko, the leading online casino comparison platform, has recently released a report highlighting the notable changes in UK payment trends over the last 4 years. The report provides valuable insights into the evolving preferences of UK consumers when it comes to making payments at online casinos.
According to the report, one of the most significant changes in payment trends over the last 4 years has been the rise of alternative payment methods such as e-wallets, prepaid cards, and cryptocurrency. In 2017, traditional payment methods such as credit and debit cards were still the most popular choice among UK consumers, accounting for over 70% of all online casino transactions. However, by 2021, alternative payment methods had gained significant traction, with e-wallets alone accounting for over 30% of all transactions.
The rise of alternative payment methods can be attributed to their convenience, speed, and security. E-wallets such as PayPal, Skrill, and Neteller allow consumers to make transactions quickly and securely without having to enter their sensitive financial information every time they make a purchase. Prepaid cards and cryptocurrency offer an added layer of anonymity and security, making them increasingly popular choices among UK consumers.
Another notable change in payment trends over the last 4 years has been the increasing adoption of mobile payments. In 2017, mobile payments accounted for less than 10% of all online casino transactions. However, by 2021, that number had more than doubled, with over 20% of payments now being made via mobile devices. This trend can be attributed to the growing popularity of mobile gaming and the convenience of making payments on-the-go.
The report also highlights the impact of regulatory changes on payment trends in the UK. In recent years, the UK Gambling Commission has introduced stricter regulations to combat problem gambling and promote responsible gaming. These regulations have had a direct impact on payment trends, with many online casinos now offering tools to help consumers set limits on their spending and monitor their gaming habits.
Overall, the report from Bojoko provides valuable insights into the evolving payment landscape in the UK online casino industry. As consumers continue to seek convenience, security, and anonymity in their payment methods, we can expect to see further changes in payment trends in the years to come.
