Why is Neteller one of the most frequently used and cited payment methods for British gamblers but rarely heard about outside of the iGaming sector?
Yes, Neteller does enjoy a certain popularity in sectors such as e-commerce, forex trading, freelancing, and travel. Still, it truly shines within the high-stakes world of online casinos.
To gain an objective and nuanced understanding of Neteller’s rise in the UK iGaming sector, we reached out to one of the key experts in this sector, Christoffer Ødegården.
He is the head of marketing at the award-winning affiliate website Bojoko.com, which showcases licensed Neteller casinos in the UK and actively tracks the popularity of payment methods amongst British players.
We have previously spoken with Ødegården about the vital role of payment methods for British players, but in this interview, we get more specific as we focus on the popularity of Neteller in particular and look at the reasons why this e-wallet has become so popular amongst their users and British gamblers in general.
Christoffer, thank you for joining us again. Can you start by explaining what has made Neteller such a popular payment method in the iGaming industry?
It’s a pleasure to be here again, and Neteller’s journey to the top is quite an interesting one. The easiest answer I can give you is that they were there when few others were.
Neteller was huge even before the ban on credit cards for iGaming transactions in the UK, which was a big catalyst for British gamblers seeking out e-wallets as a replacement for what they had seen as a very secure payment method.
Today, e-wallets are hugely popular at online casinos in the UK, as you don’t have to enter sensitive banking information and have more control than if you just used your debit card.
But, as mentioned, Neteller was there even before this trend and had time to build up name recognition.
If you look at the industry about a decade ago and earlier, the payment selection was usually very poor, with 4-6 different options, and Neteller was usually one of them.
If you wanted to use an e-wallet, it was generally between them or Skrill, while PayPal just wasn’t properly in that conversation yet.
It is also a quality e-wallet, but the fact that it could build up a user base with limited competition is a big part of why it has risen to its current popularity.
How does Neteller specifically cater to the needs of the iGaming community?
They provide fast, secure, and convenient transactions. In the iGaming industry, players want to deposit and withdraw funds quickly without compromising security.
Like all quality e-wallets, Neteller provides instant transactions and employs advanced security measures such as two-factor authentication and encryption.
This combination of speed and security is a major draw for both players and operators.
Additionally, Neteller offers VIP programs that provide benefits like lower fees and higher transaction limits, which are particularly appealing to high-stakes players.
These features collectively enhance player satisfaction and loyalty.
Security is a significant concern for online transactions. Can you elaborate on Neteller’s security features?
The biggest added security in using e-wallets like Neteller is that you don’t have to share your debit card information, which, despite the strong security at UKGC-licensed casinos, many Brits are uncomfortable with doing.
Neteller also employs state-of-the-art encryption to protect user data and transactions.
Two-factor authentication adds an extra layer of security, ensuring that even if someone obtains your password, they still need a secondary code to access your account.
These robust security protocols give players peace of mind, knowing their financial information is safe.
How many online casinos use Neteller compared to other popular e-wallets?
Neteller is one of the most popular e-wallets in the iGaming sector. In terms of usage, we have reviewed 88 UKGC-licensed that accept Neteller.
This is relatively high, especially in contrast with newer and rising e-wallets, like Neosurf, which are only present at 32 of our reviewed casinos. Still, they trail behind competitors like PayPal and Skrill.
If we compare them to PayPal, we see that they are present at 165 of the casinos we have reviewed—quite a significant difference.
Of course, PayPal is more frequently used outside of the iGaming sector than Neteller is, and the built-in audience makes PayPal very attractive.
What about the British casino players themselves? How do their preferences align with the choices by the casinos of which e-wallets to include amongst their payment options?
As an affiliate platform, I can only speak to the search intent and conversions from our pages for Neteller, PayPal, Skrill, etc, as we don’t have insights into which payment methods are most frequently used after sign-up.
That said, what I can tell you is that there is a clear correlation.
You will see that it is significantly more common for British players to search for PayPal casinos. Still, the volume for Neteller is comparable to Skrill, and hundreds of Brits look for these casinos every month.
This is a very high degree of interest and part of the reason why so many casinos feature Neteller.
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