PayID is a convenient, easy way to make online transactions. As such, it’s becoming increasingly popular with gamblers – and available on many casino sites.
Nowadays, you can hop onto the website of a PayID casino and use it to quickly make deposits and withdrawals, with added layers of security. PayID is currently very popular with Australian and New Zealand players, seeing how it’s only available to link to banks in these countries. With the added convenience of creating multiple PayIDs to link to different banks, it’s becoming a much more flexible method for making payments.
This option is especially popular with gamblers because it requires no forms or waiting, plus it can draw money directly from their bank account. PayID is secure and encrypted, and protects sensitive banking information, making it one of the most popular payment methods used by players. And while many casinos still don’t have the option in their list of banking options, the numbers are growing.
In this post, you’ll learn all about PayID and its future on gambling websites.
How PayID Works
PayID is linked to the user’s bank account. When you’ve made the connection, you’ll only need to share a PayID number to make transactions. Let’s go into the details.
Making PayID Deposits at Online Casinos
To make a deposit using this method, you need a bank account registered with PayID. Here is how the deposit process goes:
- Find a casino that accepts this banking method and log in to your account
- Choose PayID as a deposit method
- Enter your PayID details. This can be your phone number or email.
- Choose the deposit amount
- Confirm the transaction
Making PayID Withdrawals at Online Casinos
The PayID payment method is available for withdrawals, too. It’s very simple to get your payout at casinos that accept this option:
- Log in to your account at the casino
- Choose PayID as a withdrawal method
- Choose the withdrawal amount
- Confirm the transaction
The Benefits of Using PayID at Gambling Websites
Gambling websites have started offering this method for payments because of its popularity. But, why is it popular with players?
Convenience and Instant Transactions
It’s very hard to forget your PayID number – it’s usually your phone number or your email address. This makes the method very simple to use. You needn’t hand out bank account details, so it takes seconds to make transactions.
PayID ensures that the user’s financial and personal information is safe. It utilizes advanced encryptions to add a layer of privacy for the gambler. On top of that, it serves as a mediator between your bank and the casino – so you can enjoy the transparency that comes with it.
Every transaction is decentralized and securely recorded on the blockchain, so you won’t see them on your bank statements, either.
Easy Transfer Between Banks
Let’s say that you change your bank – you don’t have to change your PayID if this happens. You can link an existing account on PayID to a new bank account.
On top of this, you can create multiple accounts on PayID to link to different banks.
Limitations of Using PayID
While this is a popular method, it’s still not as widely available as you’d think. There are certain limitations that you should be aware of, including:
Depending on where you gamble, chances are there will be some PayID withdrawal limits. Casinos can also choose to charge a fee for transactions, so it’s important to check the fine print before you select this – or any other payment method.
Not Available in Many Casinos
PayID is a relatively new popular method found at online casinos, so it’s not as available as other trending options like electronic wallets or credit cards. Even so, the number of casinos that offer it is growing.
PayID is currently available in Australia and New Zealand, so keep in mind that you’ll find this option only on sites that accept players from these countries.
You Need an Additional Number/Email for a New PayID
While you can have several PayID numbers to link to different banks, you’ll need to use a different email or phone number to create each of these identifiers. After all, you are using your email or phone number to make the transaction, so it needs to be different.
The Future of PayID on Gambling Websites
While no one can predict the future with certainty, if we judge by the popularity of the payment method since it was first introduced to online gamblers, it will definitely grow bigger in the gambling industry.
New and old casinos add PayID to their list of deposit and withdrawal methods all the time. Some add it with certain restrictions, while others add no fees or big limits to how much you can withdraw using it.
This is why we need to emphasize the need to find a casino that doesn’t overcharge you for using your favorite banking method, not to mention offer you the security you deserve.
While PayID is a very secure and anonymous method on its own, it’s vital to gamble on a website that puts your security as its priority.
Based on all this, we can definitely predict that the number of PayID casinos will grow in the near future – and so will the number of players who will choose it for their online transactions.