What is an E-wallet?

Definition: An e-wallet is a digital payment account that stores money or payment credentials and lets a player pay online by logging in to the wallet account.

How it works in iGaming:

The player selects the e-wallet as the payment method and logs in to it.
The deposit is confirmed inside the e-wallet and credited to the player's casino or sportsbook balance.
Payouts can be sent back to the same e-wallet account.

Why operators offer e-wallets:

Fast deposits and payouts.
Card or bank details stay with the e-wallet provider.
Many e-wallet providers run their own identity checks.

E-wallet vs player wallet: the platform wallet holds the player's balance on the brand, while an e-wallet is an external payment method.

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Related Terms

Source of Funds / Source of Wealth

Source of funds (SoF) is the origin of the money a player uses for deposits. Source of wealth (SoW) is how the player built up their overall wealth.

Customer Due Diligence (CDD / EDD)

Customer due diligence (CDD) is the set of checks an operator carries out to know who the player is and assess their risk level. Enhanced due diligence (EDD) is a deeper level of checks for higher-risk cases.

Transaction Monitoring

Transaction monitoring is the automated review of player payments and betting activity against rules and thresholds to detect activity that needs a closer look, such as possible money laundering or fraud.

Open Banking

Open banking is a way of sharing bank data and starting payments through secure bank APIs, with the account holder’s consent. In iGaming it is used for account-to-account (A2A) deposits and payouts.

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