Around 280,000 people in the UK are prey to problem gambling and gambling addiction. In 2018, GamStop was made mandatory on all UK Gambling Commission(UKGC) licensed casinos to keep a check on the increasing ratio of problem gambling.
Today, GamStop is the most commonly used self-exclusion software used in the UK. The registration process is simplistic and voluntary and comes free of cost. It secludes the registered user from all websites and info pertaining to gambling over the specific interval. It also helps in filtering out underage players.
It is highly important that people registered in GamStop know their payment options well, as there might be instances where the player wishes to partake their preferences on online gaming at other overseas casinos and websites. Several payment options are free of errors and available for gambling, such as bank transfers, cryptocurrency, e-wallets, Paysafe, etc. are available in the UK.
Banking cards like the Credit/Debit card
Credit/Debit cards have enjoyed a long history of being in vogue and the most preferred choice. Among them, Visa, and Mastercard are the most preferred choices. However, in 2020, the new gambling legislation banned the use of credit/debit cards for any means of gambling. This step was taken up to protect bank accounts from forgery and theft. Moreover illegal casinos and bookies exploit their new customers by means of credit/debit cards outflow.
Users have reported facing complicated situations on using GamStop and Credit/debit cards simultaneously. This situation arises when the user plays at International casinos, licensed under Malta Gaming Authority, Gambling Commission of Great Britain, Costa Rica Gaming Agency, etc. Further, additional fees are imposed on credit cards. There are other alternatives to credit/debit cards such as Paysafe and Safetypay Cash deposits.
PayPal
Due to their simplistic model of registration and usage, this e-Wallet is much in demand in the current years especially for non GamStop PayPal casino sites (hard to obtain approval for Curacao eGaming brands). The registration process requires minimal personal information such as registered phone number and email, and address. Transfers take place very quickly by using PayPal, but withdrawals can take up to three maximum business days to reflect. Further positive balances can be self-transferred to other bank accounts.
The other most commonly used e-wallets for GamStop users include Ecopayz, Neteller, Skrill, Jeton Wallet, Perfect Money, etc. However, PayPal is not available for GamStop users.
Paysafe
In the UK, Paysafe is a smart replacement of credit/debit cards, or all services involving payments can be performed without credit cards. Potential customers can approach any available Paysafe outlets and get themselves registered. Further, several services are offered such as physical prepaid Mastercard which would also be functional on offline casinos too.
Customers also have an option to buy a ’16 number pin’ which can be used in financial transactions for 40 Euros. The pin code available is very safe as there is no involvement of personal information in the pin. An app is also available on all Androids and iOS, which allows the user to scan all QR code operations for their respective payments.
Safetypay Cash Deposits
This payment method is highly useful for users who do not wish to link up with any bank account or credit card. Customers make their required cash deposits directly on their registered Non-GamStop gambling accounts.
All they have to do is register themselves to any affiliated Safetypay outlets. They are then required to fill in their personal data which includes their full name, registered banking email address, and phone number. Customers are then allotted 48 hours to make the required deposits. This method is highly efficient in terms of security but is inefficient for accessing large amounts.
Cryptocurrencies
Cryptocurrencies are a much-loved method of payment in recent days. This is because it exempts the hassle of cash transactions on one hand, and on the other allows a secure flow of transactions. The implementation of blockchain technology ensures that the conduct of games is fair and safe.
Cryptocurrency also ensures 100% or complete encryption of information. Since cash transactions do not take place, the decentralized currency does not come under the jurisdiction of any financial institutions. Also, there is no restriction on financial transfers which generally takes place in traditional means of transfer. Users gain additional benefits by using cryptocurrencies as transactional fees are completely exempted, and only the basic miner fee might be charged, which is around $0.4 only.
The most commonly used cryptocurrencies are Bitcoin and Ethereum. Cryptocurrencies are not interchangeable by nature. This implies that if the user is making payment via Bitcoin, the receiver has to use the same cryptocurrency.
Concluding Thoughts
All these measures are subsidiary to breach the regulations of GamStop. The usage of any payment method is dependent upon the user as they must choose the best available option, which they feel is both cost-effective and easy to implement.