In the gambling industry, payout speed is crucial, and customers expect fast payouts. Customers can choose gambling operators based on the speed of payments because it is so important. Because DraftKings recognizes its customers’ need for quick payouts, it offers instant payment options. It is important to note that payment speed is just one factor in the equation. Payment security is also critical in this scenario.
Instant payments by DraftKings
DraftKings is one of the biggest fantasy and sports betting platforms in the United States. Although DraftKings offers its customers instant payment options, the company reserves the right to review withdrawal requests to prevent potential fraud, among other concerns. The betting industry must always ensure that systems and procedures minimize fraud and risk.
The future of the online gambling industry looks bright with real-time payments. Real-time payments will likely become common in the gambling industry when more banks adopt real-time payment capabilities.
DraftKings sees this as a win-win situation. According to specific projections from Business Wire, real-time payments will grow to $54.37 billion by 2027, up from $15.37 billion in 2021. Gambling, in whatever form, has also highlighted the persistent payment problem in the industry. Payment issues often plague online betting platforms and eSports tournaments, whether it’s related to speed, misuse, or error susceptibility. In a gambling environment such as this, the modernization of payments is extremely important.
Other gambling platforms and fast payments
The number of online gambling platforms continues to rise across the country as traditional casinos begin to accept instant digital payments. In November this year, online sportsbooks were finally launched in Maryland, including those from Barstool, BetMGM and others. Two years earlier, the state had legalized gambling, but companies faced many bureaucratic obstacles, causing the delay.
DraftKings is a clear example of how fast payments can be implemented and grow the sports betting industry in the right direction. To be up to date with other industry news, check our EkstraPoint news section. Also, spend some good time on our competitions or read the casino reviews to get exciting information firsthand.