How do you pay for online casinos in Thailand?

Despite ‘mostly’ being illegal in Thailand, gamblers and entrepreneurs alike are finding smart and innovative ways to circumnavigate the laws. The use of VPNs makes almost anything impossible, possible when you’re online, and it’s no different when gambling!

What was once a relatively niche part of the overall gambling industry, online gambling has grown to be by far the most dynamic, fast-moving and rapidly growing part of it today.

In fact, the growth of the iGaming sector has been so significant that some industry analysts are predicting that it will reach a total value of $142bn by the year 2030.

Interestingly, much of this growth will be centred in the Asia-Pacific region, which has experienced by far the highest levels of growth. Of the $142bn that the global iGaming market is expected to reach by 2030, 37% of the market’s growth is expected to originate from the Asia-Pacific region!

In terms of the countries in the Asia-Pacific region where growth is particularly strong, while China is one of the biggest and fastest-growing markets, growth is strong across the region. This even includes Thailand, which has seen widespread growth across the sector in recent years.

These staggering levels of growth have been driven by a number of different factors that have helped to accelerate the adoption of mobile gaming across the region. Of the various factors at play, reductions in the manufacturing costs of mobile devices have proved particularly important, as has the accessibility of high-speed mobile internet.

These two trends have combined to fuel growth in the sector, which helps to explain why so many major players have entered the market here in recent years! This means that for online casino fans in Thailand, things have never been better!

If you are one of the many new Thai online casinos fans just getting started, however, you might have wondered what options you have available when it comes to transferring money to your online casino account. After all, if you are hoping to make some winnings, at some stage you will have to transfer some cash!

Thankfully, however, the rise of online casinos has also coincided with the emergence of many new and exciting payment methods such as crypto. These offer online casino fans a multitude of fast, easy and, most importantly, safe ways to make payments online. But what options are currently on offer?

Cryptocurrencies

By far one of the most commented upon trends to emerge in the business and finance world in recent years has been the explosion of cryptocurrencies.

Cryptocurrencies are essentially a type of digital currency that can be used to make a wide variety of payments online. While they have helped to disrupt essentially every industry, including insurance, property and finance, they have been embraced particularly enthusiastically in the online gambling sector!

Cryptocurrencies offer many advantages over traditional currencies or payment methods, many of which are particularly in demand among online casino fans both within and beyond Thailand. This includes the increased speed at which transactions can be fully processed – which allows for faster deposits and withdrawals – as well as the higher levels of privacy and security on offer.

Best of all, given that cryptocurrencies are a flexible technology that can be adapted to any number of specific purposes, you can even have cryptocurrencies that are specifically designed for online casino platforms!

When it comes to the cryptocurrencies that are the preferred digital currency of online casino fans, Bitcoin and Ethereum tend to come out on top. This is helped by the fact that they are so widely accepted, though there are a lot of different cryptocurrencies that you can use online.

Digital wallets

Of the many different payment methods available, by far the fastest-growing category is digital wallets. These are widely accepted across the online casino sector and have proved incredibly popular with online casino fans in Thailand in recent years.

As the name suggests, digital wallets are essentially digital versions of the wallet you carry on your person. They do this by acting as a convenient way to store your various credit and debit cards in one centralized account, which can then be used to make payments online.

When you want to make a payment to your online casino account, you can simply process the payment through the digital wallet without having to input your financial information. This not only saves time but also comes with security benefits by reducing the number of places where this information is stored online.

There is now a wide variety of digital wallets on offer. However, of these, there is a handful that are the preferred options for online casino fans. These include the likes of PayPal, ecoPayz and Trustly. Other options include AliPay, AstroPay, Neteller and Skrill.

While they all serve broadly the same function and can process transactions at roughly the same speed, they do tend to differ quite widely in terms of how much each transaction will cost you.

Despite this, digital wallets are a really popular option and offer some of the most reliable, safe and secure ways of making payments online!

What does the future hold?

In terms of what the future holds for the online payments sector, the Asia-Pacific region will continue to be an important player in pushing forward the sector.

Much of this will be user demand-led, with digital wallets now the most used payment method for both e-commerce and in-person point-of-sale payments.

This is a significant trend and perhaps helps to explain why the Asia-Pacific region has so enthusiastically embraced the movement toward online casinos. Exactly what the future holds, however, remains to be seen!