The Impact of Fast Withdrawals on Gaming Loyalty and Retention

Product differentiation with land-based casinos is very clear. The buildings are different. The wait staff is different. The drinks are different.

With only gaming, the calculation can be trickier. At the end of the day, a website is a website. And no, if you stumble upon some janky, 90s-looking page, you probably won’t rush to input your credit card information.

But with modern technology, it’s not that hard to make a great-looking website. How do online casinos distinguish themselves? 

Fast withdrawals can make a big difference. The fastest payout online casinos succeed not only because they offer quick transactions but also because they are most probably well-built and maintained.

Not only do they improve gamer loyalty and retention but they offer other benefits that the average consumer might not even be aware of.

How are fast withdrawals facilitated?

It’s important to understand that the reason many online withdrawals are delayed in the first place is that your bank needs to do a lot of work to make sure nothing suspicious is taking place.

They do this through a verification process that, though invisible to the consumer, often increases the amount of time it takes for money to land in your account.

Online casinos can get around this verification process by proving that they have taken adequate cybersecurity precautions. This is called an SSL certification. Basically, it means that the website you are dealing with has demonstrated a proven commitment to cybersecurity.

You can check if your casino has been SSL-certified by looking at its URL. Safe websites will be labeled “HTTPS”. The “S” stands for secure.

Not only does this verification step accelerate transactions but it also means that the players are having a generally safer online experience than they otherwise would have.

Talk about improving loyalty and retention. Cybersecurity is like insurance. You want to have it and not need it.

But the benefit in terms of customer retention is really clear. No one will continue playing on a website that is prone to data breaches. The same technology that makes transactions easier also keeps customers safer.

What fosters retention with virtual gaming?

The basic components of customer retention in virtual gaming are user-end convenience and value. Keep in mind that it can actually be somewhat inconvenient to start over at a new virtual casino.

For one thing, the customer will need to go through the new website's age and location verification process again. This can take time.

They will also begin at the bottom in terms of credit and loyalty rewards. Typically, online casinos will offer consistent rewards and bonuses for players who keep coming back. If you play regularly at one website for six months, it will generally be in your best interest to stay there rather than looking for somewhere else to play.

Because retention is in both parties' best interests, many customers who do churn—leave—will do so relatively early on. They’ve had their verification process, sure, but they haven’t invested many months of their time yet.

Consciously or unconsciously, new customers will look for signs that this casino is a good fit. One of the easiest ways to tell is transaction speed. If you win money, you want it in your bank account. You don’t have to wait five days.

With any online business, competitors are just a click away. Give a new customer a reason to leave, it will take them no more than three seconds to do so.

Other Differentiating Factors

New player incentives are another big retention and loyalty motivator. Casinos will often provide little gifts to new gamers to both attract their attention and keep them playing. For example, deposit matching.

You deposit $100, they apply an additional $50 to your account in credit. No, you can’t just take that money and run. The casino will generally have a minimum bet threshold, ensuring that you actually use your credit to play.

It’s a smart move because it not only makes the casino appealing, but it also gets the person gaming right away.  

Sometimes, the new player incentive is even a little simpler than that. For example, free spins on a slot game. The result is more or less the same. New players are attracted by the offer. They play right away. Everyone wins.

Transaction speed is absolutely a good way to improve retention but in an invisible sort of way. Yes, customers want quick withdrawals. They just don’t think about it actively.

The best consumer loyalty programs reflect both the customer's and business’s best interests. The casino wants to provide a consistent, sustainable experience. The customer just wants frictionless gaming.

Quick withdrawals are an indication that both parties are getting what they want. The casino is doing its due diligence. The customer is benefiting from a smooth playing experience.