In recent years, paysafecard has become an increasingly popular payment method for online gambling and betting in the UK. This prepaid voucher allows customers to make deposits at betting sites without a bank account or credit card. But what exactly is paysafecard, and why is it growing in popularity for iGaming? Let’s take a closer look.
Paysafecard started in 2000 as a prepaid card solution in Austria and has since expanded across Europe. In the UK, paysafecard can be purchased at thousands of retail outlets and petrol stations in denominations ranging from £10 to £100. The 16-digit PIN code on the paysafecard voucher can then be used to deposit funds into a betting account, allowing customers to wager real money on sports, casino games, poker and more.
Some key advantages of using paysafecard for online betting deposits include:
- Anonymity – No bank account or credit card details required, users remain anonymous
- Security – Eliminates risks associated with entering financial information online
- Convenience – Vouchers can be purchased in cash at retail outlets across the UK
- Simplicity – Deposits involve simply entering the paysafecard PIN into the betting site
- Suitable for restricted markets – Provides access to betting for customers without bank accounts or credit cards
As a result of these benefits, paysafecard has emerged as a preferred banking method for many British punters. But which bookmakers actually accept this prepaid voucher solution?
Betting Sites Accepting Paysafecard
Most major UK betting brands now offer paysafecard as a deposit option. This includes prominent high street bookies like Betfred and Ladbrokes, as well as popular online sites like Betfair, BetVictor, Unibet and 888sport. Typically, paysafecard deposits can be made for amounts between £5 – £100 per transaction.
While specific deposit limits and availability vary between operators, paysafecard tends to be offered alongside other e-wallets like Skrill and Neteller. It provides an important alternative payment method for the significant minority of British bettors without bank accounts or credit cards.
In addition to sports betting sites, paysafecard is also widely used for deposits at online casinos, poker rooms and bingo halls accepting British customers. Its ease-of-use and anonymity make it well-suited for iGaming across various verticals.
How Paysafecard Deposits Work
Using paysafecard to deposit at betting sites involves a simple process:
- Purchase – Visit a retail outlet to buy a paysafecard voucher in the chosen amount. Pay cash and receive a 16-digit PIN.
- Register – Create account at desired betting site accepting paysafecard deposits.
- Deposit – Enter 16-digit paysafecard PIN to complete deposit. Funds appear in account balance.
- Wager – Use deposited funds in an account wallet to bet real money.
Once the paysafecard voucher is redeemed during initial deposit, the PIN cannot be reused. Customers must purchase additional paysafecard vouchers for subsequent deposits. Unused funds in the betting account wallet can be withdrawn back to paysafecard.
It is a straightforward process allowing quick, anonymous deposits without banking requirements. This makes paysafecard an ideal fit for the modern British betting market.
The Rise of Paysafecard in UK iGaming
Paysafecard has risen to prominence in tandem with the UK online gambling boom over the past 15 years. As betting sites have proliferated, customers sought secure, discreet payment methods for deposits. Paysafecard emerged as the prepaid voucher solution best fitting these criteria.
Several key factors underpin paysafecard’s growth:
- Increasingly cashless society – Less cash usage makes paysafecard helpful for customers lacking bank accounts/credit cards.
- Desire for privacy – Players value privacy and anonymity paysafecard facilitates.
- Wider market access – Provides betting access for unbanked or underage segments.
- Improved retail distribution – Expanded UK outlet network has increased paysafecard availability.
- Rising awareness – More British punters know about and understand the paysafecard option.
- User-friendly process – Simple voucher purchase and betting site deposit system.
As alternative banking methods like e-wallets and cryptocurrency have grown for iGaming, paysafecard has carved its niche. It satisfies unique customer needs in an increasingly digital activity.
Paysafecard for Responsible Gambling
Importantly, paysafecard also promotes responsible gambling in certain respects. The prepaid nature avoids the risk of customers overextending with credit. Deposit limits are naturally imposed by the voucher denominations available.
However, self-excluded players may exploit the anonymity paysafecard allows by purchasing vouchers under different names. Additionally, paysafecard facilitates access to betting for underage users. Operators must be vigilant in identifying and blocking suspicious activity.
Appropriate KYC checks during registration can mitigate risks around anonymity. Within its remit, paysafecard achieves important financial inclusion goals. But as with any payment method, potential detriments must be weighed. All in all, paysafecard has emerged as a key banking method in UK online gambling. Its prepaid voucher model offers advantages like anonymity, security, accessibility and ease-of-use that mesh well with modern betting behaviours. Growth has followed rising iGaming participation and digitisation. With a well-established retail network, paysafecard is now engrained as a mainstream deposit option at most major British bookmakers. It fills an important gap by including customers without traditional financial services access. Continued expansion seems assured as paysafecard’s niche in the market solidifies.