Prepaid Cards

Prepaid cardsFew banking methods available to online consumers can claim the impregnable level of security standards as the Prepaid Cards. The concept is simple and is known to the public for many years – you buy a card that usually contains a certain code that when entered provides you with some type of currency (in our case, electronic cash). Without any information required for the purchase of said card (no credit card, bank account or personal information) it goes without saying that no data loss can ever be achieved. This is why Prepaid Cards are so widely used by casino players and while this is a great feature, they do have other traits that need to be explored. Let's take a close look.

What are Prepaid Cards?

There are several Prepaid Cards providers on the market like Ukash, PaySafeCard or EcoCard and they all offer, more or less, similar Prepaid Card solution: a 16-19 unique digit code that is assigned to a prepaid card which when entered online at your favorite casino generates an amount predetermined by the provider.

Most online casinos have partnerships with these prepaid card providers in order to ensure seamless transition of funds when making a deposit since as a prepaid, the card's usefulness ends when the code has been used (no withdrawal is available).

Functionality and availability

The use of a prepaid card is simple and convenient – you can buy the prepaid card, or in some cases, more than one from a retailer (merchant) and use it to either merge the funds (for a bigger deposit) or use it separately. Some providers allow for unlimited purchases of cards due to the limited amount of funds on each prepaid card. Usually providers offer cards with amounts as low as $/€/£10 and as high as $/€/£500.

In terms of coverage, most countries around the world have at least one provider that offers prepaid cards, though the majority does originate from Europe.

Advantages and unique products

As stated earlier in the text, Prepaid Cards are unmatched in terms of online security. The speed at which the deposit amounts are verified is also a huge plus. However, the limit of the cards and no withdrawals mean additional hassles (having to set up a withdrawal solution is a must).

All in all, Prepaid Cards are on the rise, especially at the online gambling crowd since they are reliable, convenient and are remarkably easy to use.