Online gambling emerged in tandem with commercialized internet activities. The first casinos migrated to the virtual scene in the 1990s and the industry has since grown in leaps and bounds.
Experts predict that it is set to achieve an estimated $172bn market value by 2030. Despite this global demand and resultant growth, some countries, such as Mexico, entered the scene a bit later than others.
History of online casinos in Mexico
When assuming office in 1935, President Lázaro Cárdenas banned certain forms of gambling. Some think that this move aimed to highlight how, during the Mexican Revolution, French-style casinos were forced to close. Under pressure from the Catholic Church, this legislation became even stricter in 1947 and made all forms of gambling illegal.
Despite the strict black-on-white manifestation of these laws, lotteries and sports betting thrived just before the turn of the millennium. The Mexican government accepted the futility of the ban on gambling and turned around the stringent regulations in 2004.
Today, the Secretaría de Gobernación regulates gambling in Mexico. This includes online casinos, which made an appearance a few years before these legislative changes.
Oddly, the legislation only allowed foreign players to gamble at Mexican online casinos. It did not hamper local players, as they could gamble at other international digital establishments.
A lot still needs to be done to bring Mexico on par with the greater market. Smartphone availability and ready online casino access are helping to grow the industry.
Online casino payment methods
Players gravitate toward establishments with the best online casino payment options. Generally, they want methods that offer speedy deposit and withdrawal processing, security, and convenience.
Mexican online casinos support a comprehensive choice of payment methods. These include popular options such as Visa, Mastercard, PayPal, and Paysafe. Players should keep in mind that transactions may rely on exchanges in USD, EUR, or GBP instead of the Mexican peso.
Given the variety of payment methods, it is often difficult to choose the best one for a specific casino or nationality. A breakdown of how the available options work helps players with this decision.
Visa credit or debit cards
Visa credit or debit cards are accepted worldwide. The company even offers prepaid cards. A Visa card can be obtained through a bank, and the process is fast and easy.
All online casinos – in Mexico and around the world – accept Visa credit or debit cards. It takes only a few minutes to process deposits, so players can start gambling immediately.
Withdrawals are also easy and immediate. However, clearance periods may apply and vary from bank to bank.
Visa prides itself on its security measures, and overall these online transactions protect the finances of players. Some of these include the prevention of counterfeit fraud and the safeguarding of user data.
Mastercard credit or debit cards
Like Visa, Mastercard is an international giant when it comes to physical and online payments. Maestro is synonymous with Mastercard, and the deposit and withdrawal procedures at online casinos are the same.
Mastercard provides its clients with the latest in digital security to combat fraudulent activities and protect its users. Deposits and withdrawals at online casinos are instant. Players should find out about clearance times on withdrawals, as these can vary.
Bank and online casino fees can apply to credit and debit card transactions. Again, players should find out what these are beforehand. How an online casino handles its card payment options and linked fees usually indicates its legitimacy and standing.
As a world leader in digital payments, PayPal requires little introduction. This company offers a highly secure way of managing online deposits and withdrawals and is widely accepted as a payment option at Mexican online casinos.
Users simply deposit funds into their registered PayPal accounts and use such to make deposits at online casinos. By linking a credit or debit card to an account, players can also make direct deposits or withdrawals using PayPal.
When using this payment option, users do not divulge any personal or financial information. They simply use an email address and password, which makes PayPal safe and secure.
Skrill, like PayPal, is another popular e-wallet accepted at online casinos, both internationally and in Mexico. It distinguishes itself from other e-wallets by often offering exclusive online casino promotions.
This secure payment option protects the personal and financial information of players. As with PayPal, an email address and password are required. Skrill’s deposit and withdrawal processing times are immediate, so users can start gambling immediately.
Customers can fund their Skrill accounts via bank transfers, linking their credit or debit cards, or with prepaid cards. This platform also provides a VIP program where users qualify for 24/7 support and lowered fees.
Neteller is another online e-wallet widely recognized and offered by Mexican online casinos. It facilitates online payments, prepaid cards, and e-transfers as a secure alternative to credit and debit card digital transactions.
This platform is part of Paysafe, a UK-based fintech company leading digital payments for online casinos. For Neteller, users simply sign up for a free account and fund it with bank transfers or cards.
Players can use their Neteller accounts for deposits and withdrawals. Processing times for withdrawal requests may vary between different online casinos.
ecoPayz is a digital payment system that offers instant deposits and security using the latest technology. It has been in operation since 2000 and is accepted at most Mexican online casinos.
This e-wallet works much like PayPal and Skrill. Account registrations require no credit checks, and users add funds to their accounts via bank or card transfers.
As stated, deposits are instant, while withdrawals depend on the individual processing times of online casinos and banks.
All these payment methods use advanced and unique layers of security to protect their customers. Players should always review an online casino before signing up and depositing money. These must be regulated and legal.