Over the past 2 decades, mainstream, traditional online payment companies such as Visa and Mastercard have been overshadowed by newer payment types available for when you pay for services and products online. This is especially the case when you play casino games and slots online for real money. There’s an almost unlimited number of ways to deposit at online casinos and gambling sites, making this pastime accessible to all.
But, You Can’t Gamble On Credit In The UK
The most important change in the past couple of years, however, has been the reform of gambling on credit. Data gathered from extensive research carried out in 2019 by the UK Gambling Commission, indicated that credit cards were disproportionately used for gambling by individuals who are experiencing harm. As of the 14th of April 2020, gamblers were no longer able to use credit cards (or any payment method which provided credit) to make wagers in a site-wide, universal credit card ban in the UK.
This new regulation now prevents hundreds of thousands from gambling with money they don’t have. This is a progressive step that has been praised by many and has so far, been beneficial to those susceptible to irresponsible gambling. Overall, the credit card ban is seen as a positive change for the iGaming industry.
New Age Payment Methods Available at Online Casinos
So, where does this leave us today? As long as customers are gambling on debit (i.e money they can afford to lose) there’s a multitude of safe and secure ways to play real money casino games online. Here’s a brief overview of the broad selection of options available to all:
E-Wallets: Often the go-to choice for many gamers, E-wallets are one of the safest ways to pay. PayPal is widely used at online casino companies, favoured by many because it’s easy, efficient, and highly secure. Customers do not need to enter any of their own personal and/or banking details directly into their casino account, which of course adds an extra layer of security to your payments. Skrill and Neteller, owned by the Paysafe Group, follow closely behind PayPal, however many gamers are put off with using these methods because, at most casinos, the welcome bonus won’t be available to claim if they opt to deposit via these.
Debit Cards: One of the most traditional methods; many gambling sites accept Visa, Mastercard and Maestro debit cards for deposits and withdrawals. In most cases, customers will be able to claim all casino and betting offers as well as experience instant deposits and swift withdrawals. The only downside is that customers need to add their 16 digit number, expiry and security code into their casino account. This is usually fine to do at trusted casino sites, but one less level of security if compared with e-wallets.
Bitcoin / Cryptocurrency: On the rise are Bitcoin and Cryptocurrency gambling sites. UKGC licensing obligations make it tough for gambling sites to accept Cryptocurrencies directly though, which is why many players use intermediary services such as Skrill and Neteller to use their Bitcoin and other Alt currencies.
Prepaid Vouchers: If you are looking to pay in cash at gambling sites, the best way to go about it is to buy prepaid vouchers at newsagents and supermarkets. Paysafecard and Neosurf are the most well-known eVouchers that many online casinos and gambling sites accept. Prepaid vouchers are also a perfect way to remain within your gambling budget too.
Instant BankWire Transfers: Trustly and ecoPayz enable gamblers to pay using their bank account without having to add sensitive banking details directly into their casino account. To pay this way, customers simply need to choose ecoPayz or Trustly from the drop-down options in their casino account and follow the onscreen instructions to facilitate payments directly from their bank. In most cases, you will need a mobile banking app to fulfil deposits and withdrawals this way.
Pay By Mobile/ Boku: Probably the only remaining way you can gamble on some kind of credit (though restricted to very small amounts) is by depositing by “Pay By Phone Bill”. The most popular way to deposit this way is via Boku or Siru. This payment method allows punters to deposit at online gambling sites by adding their desired deposit amount, usually capped at £30 to their mobile phone bill. When the bill comes in later that month, customers must then pay it off before they can use the service again. Pay by Phone Bill is a good option for casual players who do not wish to deposit high amounts and need to stay within their budget limits. It’s not a good option for high rollers or VIP players due to its low deposit restrictions.
As you can see, there are a plethora of trusted payment methods for everyone, no matter if you prefer traditional systems or newer, mobile-first ways to pay. Most payment types are incredibly safe and secure to use and therefore don’t pose any risk, but moreover- are extremely efficient with deposits and withdrawals often made with one click of a button.
Source: Thanks goes to https://www.igamblingsites.com/payments for explaining how many of the payments work at online gambling sites in the UK.