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How the UKGC Ban on Credit Cards Affected Payment Provider Industry and Consumer Habits

Published

4 years ago

July 9, 2020

Reading Time: 3 minutes

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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Aviatrix pairs with Cactus Gaming in latest Latin America deal

Published

7 hours ago

May 15, 2024

GamingAmericas.com

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Innovative crash game Aviatrix has partnered with Cactus Gaming in an agreement that will extend its reach further into Latin America.

Aviatrix will integrate with Cactus Gaming’s online casino solutions, becoming available to the provider’s partners in Brazil and beyond.

This means more players in Latin America can enjoy the one-of-a-kind crash game with NFT-based engagement mechanics.

Gabriela Novello, Head of Business Development LATAM at Aviatrix, said: “We’re looking forward to this partnership with Cactus Gaming blooming for both sides. We’re impressed by their reach across Latin America, particularly in Brazil, where they are well placed to help us bring Aviatrix to new audiences.”

Tiago Carneiro, CRA at Cactus Gaming, added: “Cactus Gaming has as one of its main differentials the conversion power of the platform, which turns users into loyal players. The partnership with Aviatrix will further enhance this. The game is one of the most exciting we’ve seen in recent times, and we’re thrilled to offer it to our partners.”

The collaboration between Aviatrix and Cactus Gaming is set to further raise the bar for online casino in Latin America, with both sides committed to delivering the very best user experience to players.

Aviatrix has been rapidly expanding in Latin America over the past few months, signing deals with some of the biggest aggregators and operators in the region.

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New Game Release by Zillion Games – Wolf’s Moon

Published

7 hours ago

May 15, 2024

GamingAmericas.com

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Embrace the wild wolf’s spirit and follow the moon’s glow into the forest!

Explore the world of the mysterious forest with the Wolf’s Moon slot! Exciting Mystery symbols, powerful Boost symbols, and the thrilling Hold & Win feature await you here.

About Game

Wolf’s Moon slot has a captivating design that offers an enchanting gaming experience due to its complex mechanics. The game is meticulously structured around a 5-reel grid, featuring 25 distinct paylines, which provides multiple opportunities to the player to secure his winnings. Step in to the adventure with Wolf’s Moon and let yourself transported to a nocturnal world where the forest spirits join your hunt under the glow of the full moon.

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Scientific Games Off to Epic Start With Launch of First GAME OF THRONES Lottery Scratch-off Game in the U.S.

Published

8 hours ago

May 15, 2024

GamingAmericas.com

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Colorado Lottery Winners Will Be Lucky Participants in THE SEVEN KINGDOMS EXPERIENCE Set to Take Place in Napa.

Scientific Games’ newest multi-state branded GAME OF THRONES Linked Games, developed in partnership with Warner Bros. Discovery Global Themed Entertainment, has kicked off successfully with GAME OF THRONES branded instant scratch, Fast Play and iLottery games offering players the chance to win prizes instantly, plus an opportunity to win an experiential prize package, THE SEVEN KINGDOMS EXPERIENCE.

Inspired by one of the most-watched HBO television series of all time and set to captivate the GAME OF THRONES fandom, THE SEVEN KINGDOMS EXPERIENCE event will take place in a medieval-style castle winery in Napa Valley, California in 2025. Trip winners will be divided into seven “Houses”, such as House Targaryen, House Stark and House Lannister.

The event will include multiple rounds of brand-immersive games, giving trip winners a second chance to win their share of up to $7 million. The trip winners will get to cheer on their own “Champion” in a live jousting tournament, and one “Ruler” will be chosen from each house to play for prize money split amongst every member of the house.

The Colorado Lottery is the first U.S. lottery to launch a GAME OF THRONES-themed lottery Linked Game to give players in the state an opportunity to win the once-in-a-lifetime experience. The game achieved the highest first-week index of any of the Lottery’s $10 games launched in fiscal year 2024. It continues to lead, with four-week sales surpassing all other Colorado Lottery $10 games in fiscal year 2024 and most games in other price points, placing third behind a $20 and $50 game. THE SEVEN KINGDOMS EXPERIENCE has limited availability remaining for North American lottery participation, with most of the current trip winner spots filled.

Tom Seaver, Director of the Colorado Lottery, said, “Our players are very excited to play the GAME OF THRONES scratch game. It’s been a great addition to our game lineup, and as the sales numbers show, it is performing really well for us.”

According to Scientific Games research, the GAME OF THRONES brand resonates especially well with younger adult players.

Tina Hoover, V.P. of Licensing for Scientific Games, said, “Our teams are continually innovating to make every lottery winners’ event unique and exciting. We worked with Warner Bros. Discovery Global Themed Entertainment to create an immersive GAME OF THRONES-themed winners experience and to deliver a top-notch winners’ event that we’ve refined over the past 17 years doing prize trips for more than 5,000 lottery players. Based on the response we have received and participation so far for THE SEVEN KINGDOMS EXPERIENCE, we are looking into a potential second trip opportunity.”

Scientific Games pioneered the lottery Linked Games concept in 2007 and games produced by the company offering the opportunity to win experiential prizes themed to brands like DEAL OR NO DEAL, MONOPOLY, THE PRICE IS RIGHT and WILLY WONKA represent more than USD$4.6 billion in retail sales to date.

With a portfolio representing more than 100 licensed brands, Scientific Games provides retail and digital games, technology, analytics and services to 150 lotteries in 50 countries worldwide.