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How the UKGC Ban on Credit Cards Affected Payment Provider Industry and Consumer Habits
The UK Gambling Commission ban on the use of credit cards has challenged consumers and businesses, seeking to adapt to the new requirements.
On April 14th, the new UKGC ban came into effect, prohibiting the use of credit cards to top-up online gambling accounts: the measure was instituted in an effort to mitigate financial risks for consumers and prevent them from gambling with the money they do not possess. The new regulation challenged some of the prevalent consumer habits and pushed payment vendors to expand the scope of their services.
Agnė Selemonaitė, Deputy CEO at ConnectPay, shared her insights on the impact it had for both sides of the market.
Impact for payment service providers
According to Ms. Selemonaitė, current changes the industry is going through will affect not only the bettors’ spending habits, but also payment gateway providers, aiming to supply the market with flexible, as well as compliant, solutions.
“Our focus has always been on being proactive towards any new developments in the market. That’s why even amidst lockdown we pivoted towards integrating more payment methods into our Merchant API to provide gambling vendors with more options to facilitate payments,” explained A. Selemonaitė.
According to Selemonaitė, more and more gambling sites are getting into partnerships with payment service providers, seeking to streamline settlements for their regular bettors and provide a greater on-site experience. As ConnectPay aims to continue growing its payments selection, Selemonaitė encourages operators to look into how leveraging diverse solutions could help better match their clients expectations.
As the opinions on the policy are two-fold, A. Selemonaitė noted that every decision, with the goal of mitigating risks for consumers, should be a welcomed initiative. That said, it is important that alternative solutions rolled out into the market would meet both vendor and consumer needs, but with added safety, while being compliant with the new measures. “In order for business to welcome new measures, regulators need to stay focused on setting up such an environment that fosters the development of a holistic system and doesn’t hinder scaling opportunities,” she added.
What are the alternatives for consumers?
The operators’ commitment to enable clients to continue enjoying their favorite pastime while spending within reason led betters to get accustomed with various other payment options.
Visa and Mastercard debit cards
Using a debit card is almost identical to using a credit card, with the main difference that with the prior, the funds are taken directly from the checking bank account, rather than being charged to a line of credit to be paid for later. This ensures that the bettors themselves verify payments, and help protect the account from scammers’ malicious intent.
Prepaid cards
Many providers, such as ConnectPay, issue prepaid cards, which, unlike debit, are not linked to a bank account to draw money from. Instead, the customer is spending money that has been loaded onto the card beforehand. Prepaid cards are limited by default, therefore one can only access the amount of funds that have already been vouched for.
E-wallets
Although the credit card ban extends to e-wallets, they can still be used for gambling-related payments with the exception that the service does not support credit lending. Similar to prepaid cards, e-wallets require money to be loaded prior to any transaction. It is an appealing alternative as it offers faster payouts and enables switching back and forth between different gambling sites with ease.
Cryptocurrency
Another method to deposit money is using a cryptocurrency, such as bitcoin. It provides total anonymity, as no personal details are shared with the site, making it one of the most secure alternatives. Although many do not understand the inner workings of the crypto industry, it remains a viable option for all tech-savvy betters.
Even though some may still be unconvinced about the necessity of the new legislation, it is shaping up to be a sound solution, which could lead to heightened industry transparency, as well as provide consumers with more payment options to choose from. However, its true impact on the industry will show only after some time.
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7777 gaming partners with Relum
Leading online casino game developer 7777 gaming has joined forces with Relum, a trusted casino engine, to deliver an unparalleled gaming experience to operators worldwide.
This collaboration enables 7777 gaming to bring its extensive portfolio of over 140 thrilling games to Relum’s network of esteemed operators across the globe. Through this integration, online casinos powered by Relum will gain instant access to 7777 gaming’s engaging and diverse selection of games, such as Cash 100, Barbarian, Candy Anyway, Sea of Treasure, Diamonds of Majesty, and Cash 20x. These immersive games promise an unparalleled gaming experience, combining cutting-edge technology with engaging narratives. .
Relum, a trusted name in the industry, has rapidly ascended to a leading position by developing a state-of-the-art casino aggregation platform. The platform provides instant access to a vast array of games, boasting over 20,000 titles from more than 240 content providers through a single API integration and toolbox such as free round, jackpots, tournaments and partner success service to support player engagement and revenue growth opportunities.
Elena Shaterova, Chief Commercial Officer at 7777 gaming, shared her enthusiasm about the partnership: “Our goal at 7777 gaming has always been to set new standards in the gaming industry. Collaborating with Relum allows us to showcase our commitment to innovation and excellence. We look forward to a successful partnership that will satisfy the players’ requirements for next level of entertainment in any online casino.”
Ashot Sahakyan, Chief Operating Officer at Relum said: “Relum is committed to providing our operators with the most diverse and engaging content available in the market. 7777 gaming’s portfolio perfectly aligns with our vision, and we are confident that this partnership will elevate the gaming experience for our clients and their players.”
This partnership exemplifies the commitment of both 7777 gaming and Relum to delivering top-tier gaming solutions and reinforces their positions as leaders in the online casino industry.
The post 7777 gaming partners with Relum appeared first on European Gaming Industry News.
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Atlas-IAC Unveils Transformation to Atlaslive
In May 2024, Atlas-IAC underwent a rebranding, resulting in a change of name and company design to Atlaslive, the dynamic iGaming platform. These changes were developed in collaboration with the Banda agency.
The main objective of the rebranding was to communicate the internal transformations as Atlaslive experiences rapid growth and continuous technological advancement, while also capturing the dynamic nature of the iGaming market.
In today’s world, technology is not stagnant; rather, it embodies an ongoing process of evolution that resonates with the dynamism of our surroundings. This philosophy underscores the transition from Atlas-IAC to Atlaslive. The best tech is — the more it looks alive. That’s why the company decided to embrace the concept of “live”. The descriptor of the company further reinforces this notion, emphasizing its evolution into a dynamic iGaming platform.
As a globally recognized leader in providing high-quality solutions for the iGaming industry, Atlaslive is set to redefine the landscape with its innovative technology and unwavering dedication to excellence. Maxim Slobodyanyuk, CEO of Atlaslive, said:
“We are thrilled to introduce Atlaslive. The best tech is live tech. The success of any tech is the quality of connections between people. Our tech is a living entity, not static code. Imagine technology that breathes with the world, evolves, expands, changes, reacts, and adapts to deliver the best results possible. All of this is embodied in Atlaslive.”
The company’s CEO added: “Our rebranding signifies a pivotal moment in our journey as we evolve alongside our global partners. Our strategy revolves around leadership in the iGaming industry, expanding our solutions to enhance the iGaming experience, making it more effective, profitable, responsible, and intelligent. Atlaslive is a dynamic iGaming platform that delivers unparalleled results and enriches every interaction.”
With a focus on trustworthiness, scalability, customization, adaptiveness, sustainability, and security, Atlaslive is poised to set new benchmarks in the iGaming industry and beyond. Experience the impulse of innovation with Atlaslive.
About the company
Atlaslive embarked on creating a multifunctional and automated platform designed to optimize the workflow of sports betting and casino operators. Opportunities of the Atlaslive Platform include Sportsbook, Casino, Bonus Engine, Payment Systems, Risk management and Fraud Prevention tools, Retail module, Business Analytics, CRM and CMS. Atlaslive is recognized as one of the leading Sportsbook Platforms and the absolute winner in both the “Best Sports Betting Provider” and “Rising Star in Sports Betting Technology” categories for Central and Eastern Europe. Follow Atlaslive on LinkedIn to stay updated on the company’s latest news.
The post Atlas-IAC Unveils Transformation to Atlaslive appeared first on European Gaming Industry News.
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South African Online Casino Player Strikes Gold with R189,000 Win at Tusk Casino
In a thrilling display of fortune and skill, Tusk Casino announces a monumental win by Adelheid, a passionate player from South Africa, who secured an astonishing R189,000 from a mere R100 bet on the renowned casino slot game, Gate of Olympus. This remarkable achievement underscores the high-stakes excitement that Tusk Casino offers to its players.
Adelheid’s journey to this significant win was facilitated by his engagement with SouthAfricanCasinos.co.za, the premier online casino and gambling guide specifically designed for South African players. Since its inception in 2003, SouthAfricanCasinos.co.za has been a cornerstone in the online gambling community, offering expert reviews, trustworthy recommendations, and the latest gambling news, thereby guiding players like Adelheid to reputable and enjoyable online gambling experiences.
“I’ve always looked for the best in online casinos, and SouthAfricanCasinos.co.za has never let me down,” Adelheid remarked. “Their insightful reviews and dependable advice led me to Tusk Casino, where I’ve not only found an incredible array of games but also this life-changing win. It’s a dream come true.”
Tusk Casino is renowned for its vast selection of over 3000 slot games, provided by world-leading game developers such as Pragmatic Play, Yggdrasil, and NetEnt. The casino distinguishes itself with generous bonus offerings, including a 50 Free Spins No Deposit On Wheel of Fortune on Registration, and a R5,000 Welcome Bonus for first-time deposits, making it an enticing choice for both new and seasoned players.
Adelheid’s win is a testament to Tusk Casino’s commitment to providing a premier online gaming experience in the South African market. The casino’s elegant design, user-friendly interface, and substantial bonuses are designed to engage and excite players, promising an unmatched online gaming journey.
With the support of SouthAfricanCasinos.co.za, Tusk Casino continues to solidify its position as a leading online gaming destination, offering secure, engaging, and lucrative gaming experiences for South African players. This partnership ensures that players have access to reliable information, the latest industry news, and the best online gambling opportunities, fostering a safe and enjoyable casino online gambling ecosystem.
About SouthAfricanCasinos.co.za
SouthAfricanCasinos.co.za stands as South Africa’s largest and most reliable online casino and gambling guide, delivering unparalleled casino recommendations, unbiased reviews, and comprehensive gambling insights tailored to ZAR casino players since 2003. It remains a crucial resource for players seeking secure, high-quality, and rewarding online gambling experiences.
About Tusk Casino
As an established corporation with numerous ground casinos worldwide, Tusk Casino has successfully extended its reach into the South African online casino market, offering an exquisite blend of stylish design, player-centric features, and significant bonuses. Licensed and regulated by the Government of Curacao, it provides a diverse range of over 3000 slot games from leading global providers, ensuring a rich, rewarding, and secure online gaming experience for all South African players. With its impressive bonuses and comprehensive payment support, Tusk Casino is dedicated to delivering a distinct and superior online gaming experience.
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