The gambling industry is one of the growing firms in the UK, which earns an average of 5.9 billion Euros in half a year as GGY (Goss Gambling Yield), as reported by the industrial statistics in 2020. The UK is also known as the nation which contributes an average of 2.1 million gamblers. According to the news headlines of ‘The Guardian’, there are about 280,000 problem gamblers in the UK alone. Further studies have shown that teens aged between 12-16 years are generating huge traffic in recent days. A drop in performance is observed in an average of 15% of employees, who engage themselves in gambling during office hours.
Statistical data shows that a very small fraction of only 3% of gambling addicts have access to medical help. To combat the growing ratio of problem gamblers, the United Kingdom Gaming Commission (UKGC) took up an initiative to introduce a free self-exclusion Software, GamStop that is available on all UKGC-licensed casinos.
GamStop is a voluntary self-exclusion software available at all operating systems that seclude the player from all means of gambling activities, as well as other online gaming platforms bearing information to gambling. It is quite difficult to withdraw from GamStop after registering, and the player has to wait till the period of seclusion is over. Besides accessing gambling websites, the self-excluded gamblers are also prevented from making any payments via certain e-wallets. Hence it is of paramount importance to know about the functional e-wallets and payment methodology to continue playing their favorite games.
Unavailable Payments in GamStop
When it comes to GamStop, there is a strict imposition on restricting payment till the period of seclusion is over. This is to help the problem gamblers to abstain from indulging in online gaming registrations too. Several modes of payment are exempted from GamStop such as PayPal, Boku Pay by phone, etc.
PayPal is the most commonly used e-wallet for gambling transactions. There are bleak chances that non GamStop casino sites can accept PayPal in the United Kingdom. This is because as a user activates their active status on GamStop, they are already banned from accessing any website possessing gambling information.
Without the available information on transactions, PayPal would not respond to the financial requests made. Hence, GamStop makes the functionality of PayPal futile and unavailable for making payments.
Boku Pay by Phone
Boku is one of the most favorite banking methods in the UK. Here, the user’s deposit is either deducted or added by means of phone billing. The use has greatly spiked after the 2020 jurisdiction on the new gambling laws.
GamStop issued a ban on Boku Pay for a specific period of self-exclusion. The same methodology is applied as in PayPal. Since all iGaming websites remain blocked, it is very difficult for a customer to initiate payments for the casinos and games they wish to play. However, the user can keep on continuing Boku Pay at other non-GamStop casinos.
Available Payments for GamStop Gambling
Though several modes of payment remain restricted owing to the regulations of GamStop. There are several other methods that would ensure safe, hassle-free payments. The use of net-Banking and using bank cards have been there since time immemorial. Further, there are several other e-wallets too, to fulfill the motive of payments.
Usually, debit/credit cards are the general methods for gambling transactions across the world. However, the new UKGC legislature prevents any gambling payments to be made with banking cards.
Even if the GamStop players play at certain sites, they would face complications. Moreover, additional charges or taxes are also imposed. Despite its availability, the use of banking cards is not a very safe choice for gambling.
E-wallets, in general, identify to be virtual money accounts that would be responsible for financial transactions. Due to its simplistic processes in registration and additional security layers, potential customers are easily lured by it.
According to the 2021 list, some of the most popular e-wallets include Ecopayz, Neteller, Skrill, Perfect Money, etc
The Option of Cryptocurrency
Any registered GamStop player can easily indulge in cryptocurrency payments for non-GamStop casinos. Usually, most payments are made via Bitcoin and Etherium. The process of depositing and transferring finances is very easy and safe.
Due to the volatile nature of the cryptocurrencies, the value of the curries has a high chance of overlapping which might cause a variation on the final payment.
GamStop has both good and controversial incentives. Firstly, a player registered with GamStop has the most lucrative alternative option, i.e. to shift to Non-Gamstop casinos, regulated mostly by other gambling agencies such as Malta Gaming Authority, the Government of Gibraltar Antigua, and Barbuda gaming license, etc. to continue their urge to playing their favorite game.
This fails the entire purpose of self-exclusion software. The introduction of both cryptocurrency and e-wallets has further taken up online gambling by storm currently. It is always suggested that the user must verify whether the casino is owing license or not to prevent forgery and always opt for the best payment option available.