Prepaid Vouchers at Online Casinos

The most common options for funding online casino accounts are credit cards and e-wallets. Now a third option is fast gaining ground and this is prepaid vouchers. Prepaid vouchers are different in nature from credit cards and e-wallets and offer certain advantages. This article explains these differences and advantages.

Credit cards allow the players to wager with borrowed money because the player has to settle accounts with the credit card company weeks or months after he has used the funds for wagering. The limits offered by credit card companies are usually quite large and provide sufficient funds to the player. These characteristics of credit cards tempt the online casino player to wager larger amounts than he can afford to. Another problem with credit cards is that all the transactions are documented in the credit card bills and therefore the player is not able to keep his wagering secret. If a player funds his e-wallet account using credit cards then he faces the same disadvantages as in the case of the credit cards. However if he uses his bank account to fund the e-wallet then he pays in advance for his online gambling, but faces the remaining disadvantages.

The prepaid voucher is a small amount voucher that can be purchased for cash from a retail outlet. The voucher contains a number in code. When this number is entered at the online casino accepting the voucher, the players account gets credited by the value of the voucher. This system overcomes all the three disadvantages in credit cards and credit card funded e-wallets. The prepaid vouchers have to be paid for upfront. There is no question of the player using any credit. Because the player is not waging with borrowed money, but with his own hard earned funds, there is little temptation to engage in excess wagering. Unlike the credit cards or e-wallets that can be used to transfer large amounts to online casino accounts in a single transaction, prepaid vouchers are for much smaller denominations. Hence individual transactions are limited in value. Once the amount is used up by the player at the online casino he has to purchase another prepaid voucher. Since this purchase is usually made from retail outlets and cannot be done online the process serves as a brake to rapidly transferring large amounts to online casino accounts. Finally prepaid vouchers can be purchased for cash. They are one-time use instruments that have no value once the funds are transferred. There is no record in the player's bank account of having purchased the prepaid voucher. The prepaid voucher connects the buyer and seller of the prepaid voucher and the online casino only through the number or code printed on the voucher. There is no link to the player's name or address. Therefore those players who not want entries of their wagering to figure in bank documents or credit card bills find prepaid vouchers of great value.

Two factors have been instrumental in the success of prepaid vouchers. One is the software technology that links the buyer, the seller and the online casino through only one number and that too in a secure online environment. The second factor is the availability of certain retail outlets that are spread out in all localities. Usually the suppliers of prepaid vouchers tie up with different retail outlets in different countries depending on which has greater reach and popularity. The use of prepaid vouchers is an emerging banking option for online casinos that is bound to grow in the future.

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