Mobile Payments and Gambling: Its interrelation and influence

The introduction of mobile casinos has brought upon the biggest change to the very nature of the gaming world. In the era of the internet, the future of mobile payments has been brighter. New technologies are changing the way we pay for everything. From paying for your movie ticket to playing games in the best live casinos, you hold the way to pay for everything in the palm of your hand.

This casino guide will explain to you the interconnection of mobile payments and gambling.

Out with the traditional methods

Most people in the UK use the internet for buying things and paying for services. Writing checks and giving cash in hand seem as ancient as telegrams in today’s world. Credit card payments, direct deposit and PayPal have simplified the buying and selling process for most people. In recent years, cryptocurrencies and E-wallets have streamlined the mobile phone payment method.

The financial technology sector is in the vanguard of creating new and innovative payment options. As the online payment sector grew, the need for new payment methods grew as well. Credit cards to pay online were being used by most of the consumers. Single-pay transactions form mobile phones lead to even newer forms of payment.

Cryptocurrency

Cryptocurrency is a digital asset designed to work as a medium of exchange. It uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets.

Cryptocurrency is publically accessible and not owned by one entity (a centralised agency or bank). The validity of each cryptocurrency coin is provided by blockchain technology. The most popular and widely accepted coins are Bitcoin, Litecoin, Ripple and Ethereum.

This currency was first used for peer-to-peer transactions across borders. It is a great way to make payment with no transaction fees and to pay for non-traditional goods and services. Unlike the payment methods in casino studios, cryptocurrency offers the perfect loophole for online gamblers.

Online casinos offer fast action via the easy payment methods available. For countries imposing a ban on gambling, new players can still play Poker, Craps, Baccarat, Blackjack and more in live casinos. This digital currency also offers solutions to many issues related to online gambling. You can know players opinion on these payment methods in the casino review section.

Gambling on the go

With online gaming and cryptocurrencies on the rise, the smartphone sector also came along for the ride. These days, mobile casinos offer various casino games and the choice of playing for real or virtual money. Mobile apps are also available to download and offer gamblers the possibility to gamble on the go.

With the advancement in technology, the most popular mobile networks now offer their customers the ability to play online and play with their mobile phone bill. This pay-to-play option allows customers to gamble online with exposing their personal data or filling out any registration forms. Sensitive information is not used in any part of the gaming process, as the user only enter their phone number for the transaction. It is also possible to top up casino credit on your phone for pay-as-you-go-plans.

Boku bucks

Instead of downloading a casino app, you can play online with direct carrier billing. These transactions are facilitated by a third-party service provider. One such player in the online payment sector is Boku. It allows customers to charge digital goods and services to their mobile number. It makes it easy and safe for customers to pay for their purchases using their mobile phone. Purchases on your favourite games can be charged to your wireless phone bill using Boku. No credit card or bank account is required for payments.

Other companies like Zimpler and PayForIt provide apps for direct carrier billing (DCB). Players have direct access to safe and anonymous payment options. With the increasing popularity of DCB apps, the database of users is also increasing. The number of users on the DCB apps also represents huge marketing potential for goods and services. Customers also receive special offers and bonuses to try new services.

Influence of mobile payments on gambling

The future of mobile payments seems bright. Anyone with a mobile phone can place a bet on casino games from anywhere. Mobile devices provide ways to safely enable identity verification and payment transactions, creating whole new gaming models. This new method of payments offers a seamless gambling experience.