The laws on gambling are constantly up for review and recently these reviews have led to major changes in gambling laws. It all recently kicked off with the maximum bets allowed on fixed odds betting terminals being lowered to £2, after horror stories of individuals racking up huge debt from betting as high as £200 per spin, hit the headlines before the new restrictions came into force.
Unfortunately, the bad press for the gambling industry didn’t stop there and stories of people gambling with credit cards and again racking up huge debts came to light as well. From April 2020, gambling with credit cards was also outlawed; and in hindsight, it was always one of those payment methods that were best avoided at slots sites such as Toppspilleautomater.com because it was essentially gambling with money that was not yours.
Cryptocurrency
Cryptocurrency is a word most of us have heard of but few of us actually understand what it is or how to obtain this currency. Cryptocurrency is actually a digitally stored currency that can be used to buy goods online. It has no physical form because of its digital format, but each transaction leaves a digital footprint behind. Transactions are logged using blockchain technology that is created in a network of computers. Whilst transactions here are more secure than any other currency transactions that occur daily, the reasons why cryptocurrency payments should be avoided at slots casino sites, is because very few sites are actually ready to accept these currencies as payments and those that do, are most likely not to have a license from the UK Gambling Commission.
Therefore, you would essentially be gambling at an unlicensed slot site and this means that these sites would not adhere to strict codes of conduct that have been put in place to protect punters. If disputes arise, chances are that the outcome will favour the casino and not the customer. However, with the popularity and value of these currencies like Bitcoin increasing, there is the possibility that regulated and licensed crypto casinos will be part of the future of online gambling.
Bank Transfers
Whilst bank transfers are a secure way of topping up your casino account, the time taken to deposit and withdraw funds to and from the casino of your choice, from your bank, make it one of the least recommended slot site payment methods. Deposits can take longer than other payment methods and withdrawal times are anything from one to four days. Then there are reference numbers and requesting the transfer from your bank in the first place. When compared to E-Wallet and Debit Card transfers and withdrawals, it is all a lot more hassle than one would want to deal with.
Final Thoughts
Debit Card and E-Wallets are the best of the payment methods available to punters and other methods such as the ones above should be avoided if possible. The disadvantage of E-Wallets is that they are often excluded from welcome bonus offers, so if your heart is set on bagging a deposit match, you may have to avoid E-Wallets too.
Read more on the latest news.
