IGaming Withdrawals Improve Thanks to PayNearMe’s Partnership with Pin4

Online gaming has always been extremely popular since its inception, and in the last few years, its popularity has only skyrocketed. Nowadays, Online casino offers an extensive range of games to players based on their interests. Many physical games have found representation in an online platform- from racing to online casinos- the fun is almost the same, and the options are as many. 

Online Casino Industry

The online gaming sector has evolved over the years and is one of the primary components of the entertainment world. The accessibility of affordable digital connections boosts the gaming sector worldwide. Online casinos are designed for reliable cross-platform gaming. Many gaming providers have realized their growth potential; we have many sites opening up and providing fantastic options and discounts for their players.

The online casino industry is one of the most successful entrants in the igaming industry. But here is a fun fact: online casino was first started back in 1994, and it is only now that it has gained such fame and popularity among gamers.

But like everything in this world- there are pros and cons to every situation, and the online casino is no aberration to this rule.

Difficulties faced by the online casinos industry

Below are some of the difficulties faced by the IGaming industry:

1. Cyber security

One of the significant concerns in the iGaming industry is the security or, rather, the breach of security. It can range from hacker activities to misuse of customers’ information. As these platforms deal with financial transactions, the security must be strong to protect the customer and the company from any financial fraud. 

2. Delayed gaming withdrawals

One of the pet-peeve for online casino players on the iGaming platforms was a delay at the time of payout. When we win a hand at any game, instant gratification adds to the whole joy of the experience. This was one place where online casinos couldn’t match up to their physical counterparts- almost. But now, that is all set to be a thing of the past. 

PayNearMe, a payments provider specializing in iGaming, just announced a partnership with Pin4 that will allow operators to give players immediate access to their rewards. 

PayNearMe’s partners with Pin4’s unique technology into its MoneyLine platform allows iGaming and online casino users to cash out their winnings at over 18,000 ATMs around the country. This is a piece of good news for iGaming operators across the country, and new jersey online casinos have made their withdrawal process even smoother thanks to the newest partnership between PayNearMe and Pin4.

General Manager and Chief Revenue Officer of PayNearMe “Michael Kaplan” stated, “Our cash-in at retail alternative is reliable for funding sports betting accounts and for cash withdrawal options. We are providing a fast and reliable way to operators to allow cash payouts for their gamers”.

 How will this work for online casino players, let us find out below:

To make an iGaming cash withdrawal, the player must first provide their mobile phone number and the amount they wish to withdraw. 

The player receives two text messages after being processed by the operator:

  1. A four-digit order number, the payout amount, and the withdrawal window.
  2. A link to a locator map that shows ATMs in the nearby region where the gamer can withdraw money right away.

The benefit of this collaboration can be seen from early 2022.

Pin4’s CEO, Rich Witkowski, said, “Rapid cash withdrawals can attract more players and allow sports betting operators to resolve their withdrawal problems. PayNearMe is one of the foremost payments companies in the sports betting market.”

3. Development and innovation

Online gaming sites are easily accessible by players- 24/7. Thus, they seek newer games and more innovation from the service providers. This might not be the case for physical casinos as not many people can visit them or go regularly. Gaming sites have to keep updating their offerings to attract and retain customers, provide lucrative offers and bonuses, and introduce new games or newer updates.

The right marketing strategy can also help in this regard- in-game ads, social media advertising, affiliate marketing, loyalty programs, and referrals are a few options that marketers can use to target new customers and retain old ones.

4. Stiff competition

The casino industry in the USA is estimated in 2020 measured at 40.9 million US dollars. In comparison, the online gaming industry generated around 202 million US dollars in revenue. These numbers show that this industry is one of the high-paying industries and is faring much better than its physical counterpart. But there is one cause of concern- the competition is also stiff. In the last decade, the number of online casinos, betting sites, and sportsbooks have increased manifold. 

So the gaming platforms have to come up with innovative and unique new methods to attract and retain more online casino players.

5. The end-user experience

Dressing up and stepping into a casino, with the glitz and glamor, servers providing chilled champaign, and playing among equally passionate people provides a wholesome and entertaining experience! So, iGaming service providers must work double to offer an immersive user experience.

Gaming providers must ensure that a player doesn’t experience any inconvenience or bugs and ensure that the graphic user interface runs smoothly at all times, that all interactions are quick, and that all data is appropriately processed.

6. Legal regulations

The laws governing land casinos and online casinos are different. Every state in the US has different laws pertaining to the online games and casino industry. These laws cover everything from gambling to sports to prize marketing. Companies who deal with these games must also be aware of the rules, regulations, and sponsorship restrictions. 

These were the few challenges that the iGaming industry faces. The new partnership between PayNearMe and Pin4 is all set to eradicate one of these problems and provide gamers with a seamless and enjoyable experience. The entire industry is working round the clock to ensure that customers have nothing to complain about and enjoy the whole experience from login to logout.

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