Alternative Payment Solutions For Online Gambling
$5,000 Welcome Bonus
In the UK online gambling continues to be a hugely popular pastime. Since 2005 the industry has been regulated by the UK Gambling Commission who set standards in safety and security that operators must adhere to. These standards don’t just refer to the games, but also the cashier and payment services that facilitate deposits of funds and withdrawals of winnings. There are now many different payment solutions available. The most frequently used are debit cards, but in the last decade alternatives, including cryptocurrencies, have become more popular.
Here are three recommendations to try next time you gamble online.
Bitcoin Payments
Bitcoin Casinos are still a fairly niche part of the UK slots and casino market, but thanks to the high profile the currency enjoys, more operators are now offering this solution. For many gamblers the idea of switching to a digital currency can be daunting, but in fact it fits well with the gambling experience. The process of funding a casino account with Bitcoin is fairly straight forward – players must set up a bitcoin wallet address and then move coins from an exchange to the wallet as normal. From a wallet, players simply move bitcoins into their casino account at no charge.
Bitcoin payments at casino sites have the same advantages as anywhere else – they are free, they are totally secure because they are on the peer to peer network with no sharing of personal data, and they can be moved more quickly than traditional currencies are between banks and businesses. The obvious disadvantage is that the volatile nature of Bitcoin means that the value of your winnings may be compromised when it comes to making withdrawals.
Paypal Payments
Next to bank cards, Paypal has been the most popular payment solution for online gamblers for some time now. It is one of the world’s most popular eWallets, used by millions every day to pay for goods and services online. Many gambling sites in the UK accept this solution and it is advantageous for players for a few reasons. Firstly, like Bitcoin, it offers a level of anonymity because the user does not need to share their bank details directly with the operator. Instead, they only need to log in with their Paypal username and password to initiate the transfer. Paypal is also usually free for payments made within the UK. But above all, it is a very simple, quick and convenient way to fund a casino account.
The only disadvantage to using Paypal, besides setting up the Paypal account on their site, which takes just a matter of minutes, is that not all operators accept it. To find a gambling site which accepts this eWallet, check this list of Paypal Casino Sites.
Paysafecard Payments
A third option for gamblers looking to deposit online without using a debit card is the prepaid service, Paysafecard. This is another service that allows players to fund an account without having to share any bank details with the operator. Paysafecard is a voucher system that can be topped up online or at high street shops. Users receive a simple PIN code worth between £10 and £100 that can be used to deposit or pay for goods at any site that accepts Paysafecard. It is possible in offline retailers to purchase vouchers using cash so there is no need to have a bank card at all if you want to use the service.
Like Paypal, Paysafecard is not accepted by all casino operators, but it is a convenient and safe option where it is accepted. You can find out more about how it works on the Paysafecard website.
