Prepaid Vouchers Fund Online Casinos

Published on: March 17, 2010 

Funding online casino accounts using prepaid vouchers is fast gaining popularity. This is because prepaid vouchers offer several advantages over the other common methods of depositing funds at online casinos.

One of the most important advantages of prepaid vouchers is that it promotes responsible gambling. When players use credit cards to fund online casino accounts either directly or through e-wallets, they are in a sense using borrowed money to gamble. They do not have to make the payment till the credit card company sends the bill and even then in most cases they can pay in installments. This tempts them to wager amounts larger than they can afford in the hope that they will recover their losses before the payments are due. This attitude is the first step towards problem gambling. On the other hand the use of prepaid vouchers ensures that the player has paid for the funds before he transfers them to the online casino and uses them for wagering. Since he is paying up front he is less susceptible to temptation and only wagers such amounts as he can afford. However, if players use credit cards to purchase prepaid vouchers then this advantage is lost.

Whereas using credit cards the player wagers with borrowed money, using debit cards the player wagers with his funds as in the case of prepaid vouchers. However prepaid vouchers have an advantage over debit cards. Debit cards usually have large limits and the player can use a debit card again and again to transfer funds to the online casino till the limit is reached. On the other hand a prepaid voucher is for a single small amount and once it is used to transfer funds it loses value. The player would then have to purchase another prepaid voucher if he wants to transfer funds. This additional activity acts as a brake and gives the player time to reconsider, thus preventing him from acting in the heat of the moment.

Most of the popular prepaid vouchers can be purchased through a variety of retail outlets that include telephone booths and ATMs. And they can be purchased for cash. This is a major advantage to players who do not want their gambling transactions to be reflected in their bank statements or credit card bills. Also because no bank or credit card company is involved in the transaction payments through prepaid vouchers are never rejected at online casinos. Because of the anti-online gambling laws in many countries there is pressure on the organized financial system to block transactions to online casinos. Therefore the incidence of rejection of credit cards and debit cards while funding online casinos is on the rise. This problem is overcome through the use of prepaid vouchers purchased using cash.

There is one final advantage that prepaid vouchers have over credit and debit cards. While using credit and debit cards at online casinos the sensitive card number is stored in the servers of the casino. Though online casinos use the latest technology to ensure the security of this information during storage and transmission, the risk of identity theft is not zero. Therefore many players fear that in the worst case their credit card numbers can get stolen and misused. This problem is eliminated through the use of prepaid vouchers. As mentioned earlier the prepaid voucher is a one-time use instrument. Even if someone accesses the unique code of the prepaid voucher it cannot be used a second time. Hence there is absolutely no fear of identity theft.

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