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New Deposit Methods for Funding Gambling Accounts

Unless you have been living under a rock for the past couple of weeks, you will have noticed that you are no longer able to fund your gambling account using your Visa or Mastercard credit cards. The Gambling Commission has decided that from April 14 2020, customers who have an online casino account or are patrons to some of the most visited new bingo sites, will now have to find new ways to deposit money into their accounts in order to enjoy their favourite pastime. The ban is across all sorts of gambling accounts, online and offline, except for the National Lottery.

The reason behind this move from the Gambling Commission is to protect susceptible customers who might otherwise gamble with money they do not have, thus creating a credit card debt. Unfortunately, customers will no longer be able to use their credit card through e-wallets such as Skrill and PayPal in order to add money into their accounts. According to the Gambling Commission, e-wallets are only a viable option if those e-wallets can stop the use of credit cards for gambling. With that in mind, and in order to help you from running around trying to find a new solution, we have listed the top three most popular alternative deposit options.

Visa and Mastercard Debit Cards

This must be a great relief to most customers since they can continue to both deposit and withdraw money using their Visa and Mastercard debit cards which includes the likes of Maestro and Solo. Unlike credit cards, customers can only use funds they already have available on their debit card and they cannot go over the limit or create a debt.

Paysafecard

Paysafecard is one of Europe’s most popular and secure internet payment methods. There are over 650,000 sales outlets across the world where you can buy prepaid cards which are a convenient way to fund your account. You will be given the option to buy a Paysafecard PIN which comes in different amounts, from as low as £10 and as high as £100. Then, all you must do is use the 16-digit PIN at the gambling site you are a member at, and your account will be credited instantly. This is another great deposit method that allows you to control your budget and your spending limits.

Pay by Mobile

While this is not a new payment solution, gambling operators can now reach new customers who were previously reluctant to use the traditional deposit methods. All they need to have is a mobile phone, and according to a recent study over 50% of users access their gambling accounts via their mobile devices, and they will be able to fund their account by charging their telephone bill. They simply need to authenticate their phone number during the initial deposit, and after that, all subsequent deposits will be added to their monthly bill.

Conclusion

So whether you have a sports betting, bingo, casino or a poker account, and you’ve been used to funding it using your credit card, make sure you find an alternate method before you run out of money in your playing account. It might feel that this is a hassle, but it is one of many steps that the gambling authorities are taking in order to prevent people from racking up debt and to make sure the industry as a whole is supervised correctly.

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