Fantasy Sports sites don’t generally offer the same range of deposit methods as traditional online casinos but perhaps that’s because this is a newer breed of gaming venues catering for a more connected audience. Of course it might also be the case that as Fantasy Sports becomes popular outside the United States, a wider variety of payment options will be required. eWallets are an obvious fit for this industry and we’ll describe them in a little more detail below.
eWallets may also be described as Digital Wallets and at their most basic level they are electronic storage points for any information we wish to keep there. Most punters will be familiar with companies such as Skrill and Neteller which provide quick and easy money transfer options but there are other organisations which allow the storage of other items such as electronic forms of driving licenses, ID cards and store loyalty cards.
An eWallet will of course need to be funded from a bank account or credit card but it can then act as a central storage point for any funds that are transferred to you (especially useful when it comes to withdrawing from casinos and other websites) and as a launch point for any deposits or purchases you would like to make.
eWallets will become increasingly useful as we being to use our smartphones and other wearable devices to replace the use of cash as a primary method of payment. In the same way that we can already use contactless credit and debit cards, we can also use services such as Apple Pay to dispense with the need to carry around cash.
We’ll also add a quick word about Virtual Cards which aren’t particularly popular but offer users the opportunity to fund an online debit card with which to pay for items.