Do you remember those days when we could wait for days and weeks before a transaction was completed? Thanks to technology, things have now changed. It’s now possible to complete transactions instantaneously – something that most modern players fancy. Well, we can attribute this to the fact that instant gratification is part of the allure of online gaming. And, in fact, this is not just in gaming alone – some studies have revealed that the desire for immediate rewards is common among high-end smartphone users.
Perhaps you remember when Super Nintendo and Sega Genesis reigned over the market with their simple graphics and linear gameplay. You had to go through levels in a defined order before you could complete the game – it was a kind of trial and error. Of course, finishing the games was a complete hurdle, given the many errors you were likely to make along the way. The narrative has changed with today’s games – you will find numerous instant rewards and shortcuts. This is the whole point of instant withdrawals, and in this article, we will explore some fascinating facts about this trend that you don’t want to miss.
The Growing Preference for Instant Experiences
With the gaming industry becoming very competitive, offering instant withdrawals can be a great way to stand out. Let’s consider crypto payments, for instance. Do you know that up to 20% of crypto users stated that the top-most reason for using these digital tokens was the possibility of sending money fast, according to PYMNTs? As if that is not enough, 75% of shoppers have confirmed their preference for faster payment methods like PayPal.
It is, therefore, no surprise at all to find an instant withdrawal casino – whether in business or just about to start – integrating such methods to enhance its competitiveness. Like now, about 26% of players already use PayPal, with 1 in 4 preferring this method. The market is already available, and adopting PayPal can help you tap a considerable share of this already existing market.
Recently, a study revealed that 68% of businesses were planning to add instant payments within the next two years. Why should you be left out? In fact, the US Bank highlighted that 40% of businesses with more than $100 million in revenues were already using instant payments. Imagine players finding satisfying experiences on your competitor’s site, which they can’t find on your platform.
Should You Invest in Instant Payouts?
As we have already hinted, it seems the future will be real-time payouts. And this is not just for consumers alone – businesses have also shown a growing tendency towards the same. Implementing instant payouts can, therefore, give the impression that you are innovative and forward-thinking. Customers will likely perceive you as a company that considers their needs and preferences, which can help establish your brand authority even more.
According to Exploding Topics, when customers trust your brand, it can lead to an increase in transactions by up to 81%. And the good side of this is that a trusting customer can easily become a loyal customer. One of the areas that can greatly benefit your brand is when players can find seamless customer experiences with your withdrawal process. Real-time payment is just one of the many ways to get you there.
What we are trying to say is that real-time payouts can improve player satisfaction – which has ripple effects. Imagine the effects of having 95% of your customers tell other players about just one bad experience they had with your platform, including withdrawals. It’s definitely something you don’t want to envision.
Now, on the flip side of the coin, SurveySparrow suggests that when you increase customer satisfaction by only 1%, you can experience a rise of up to 5% in customer retention. And in a world where acquiring new players has become very expensive, who does not want to increase their retention rates?
How Can You Go About It?
We have already talked about taking advantage of available options like crypto and PayPal, which many players seem to prefer. One other thing you should note is that different markets have different preferences. In the UK, for instance, most customers tend to favor debit cards and direct debits, while users in other countries like China mostly prefer digital wallets, including Alipay, WechatPay and UnionPay. So, as you think about incorporating RTP into your gaming platform, you may want to consider the preferences of your target audience.
Security is another feature that you cannot turn a blind eye to. Do you know that in just 2023, over 343 million individuals suffered the consequences of cyberattacks? You want to always ensure that you are not only catering to the need for speed but also safety. Thankfully, new technologies like AI and advanced data encryption have emerged to ensure that you guarantee players’ protection.
The need for instant gratification has become very apparent in the gaming sector, and it is something that we will have to live with. Most players now want to immediately access their money after participating. It is no wonder why gaming companies have been integrating RTP technology to appeal to such preferences. As we look into the future, who knows? Maybe this will become the order of the day.
