76% of Gamers Who Can’t Access Instant Payouts Would If They Could
Winning can provide an instant rush — and although 8 in 10 gamers prefer immediate access to their winnings, less than half of gamers now have access to instant payouts.
That is one key takeaway from “Generation Instant: Gamers and Winnings,” a report PYMNTS Intelligence created in collaboration with Ingo Payments.
However, the report — which is based on surveys with more than 2,600 U.S. consumers — found that, despite the growing popularity of online sportsbooks and online gaming, the options for instant payouts remain relatively rare.
With so much of this action happening online, one might assume cash would be less of a winning payout option and digital payouts would be the rule. But PYMNTS Intelligence found that what even could purport to be instant payouts can be delayed — sometimes up to a full 24 hours, which understandably results in customer frustration.
What survey respondents reported missing in the current generation of options were the instant payouts and ease of moving money from one game to the next in a manner like what old-school casinos offer. Survey data shows many gamers are interested in this sort of streamlining — especially streamlined payments. When offered the option, 79% picked instant disbursements; 76% of those not offered instant options said they would take them if they were available.
Which type of payouts do consumers select now when they collect their winnings?
As the figure below illustrates, gamers have a variety of ways that they can receive their winnings. For those not expecting (or not offered) instant payouts, cash appears to be king. Forty-four percent of those receiving non-instant winnings identified cash as the most used payout method. Non-instant digital payments were accepted by 17% of winners, while 11% collected their winnings primarily in the form of a check.
Meanwhile, on the other side of the house — the side where instant distributions are available — more than 18% of winners opted for immediate payouts. Eight percent of them collected their winnings in digital wallets, while nearly 3% transferred their winnings to a bank account.
One key finding that “Generation Instant: Gamers and Winnings” offers: gamers want to receive their winnings as soon as possible. Getting those winnings in cash works for gamers playing in physical environments. But to win over those playing in digital environments, steps should be taken to give gamers more instantaneous payouts (while also encouraging them to remain in their current gaming ecosystem). Given that more than three-quarters of gamers want this, delivering on this preference would likely improve customer satisfaction — and possibly motivate them to play again soon.
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