Pay by Mobile Casino – How Does It Work?
Online casinos offer a variety of depositing methods. Not everyone wants to use debit/credit cards, as revealing banking information seems scary to beginner gamblers. EWallets are a great solution to that issue. But maybe you don’t have funds at the moment, and you really like to play. In that case, accessing a safe casino online with the option to pay later seems like a great idea. Several websites enable you to deposit funds that you’ll later cover through your mobile phone bill.
The transactions are simple and safe. You’ll never pay more than you actually deposit through the online casino pay by phone bill method. Let’s cover the concept in detail, so you’ll know how this banking method compares to other options.
How Does the Pay-by-Mobile Payment Method Work?
When you initiate a deposit in an online casino via this method, you’ll instantly see the funds in your account. However, they won’t be immediately withdrawn from any of your bank accounts. The amount will be added as an expense to your next mobile phone bill, which you’ll pay as you usually do. This way, you delay the moment of paying. But you still get to play real-money games and use all advantages that the gambling site offers. All bonuses and promos are valid for this banking method.
This is how the signing-up and depositing process goes:
- You’ll need to create a profile and provide real details regarding your name, email address, and mobile phone number.
- During the depositing process, you’ll choose the Pay by Phone option as your preferred banking method. Make sure to read the terms before checking the box that expresses your agreement on a bonus program!
Although this is a delayed banking method, we recommend depositing a minimal amount. It’s important to set a limit to your gambling budget. Never go overboard; no matter how tempting the games are!
- You can instantly start playing with real credits.
- You’ll see the transaction as an expense in your monthly mobile phone bill statement. Most websites and operators don’t charge additional fees.
Is It Safe to Deposit Money This Way?
The use of mobile phone bills for deposits is an emerging channel in the online casino industry. These payments are secure. They are regulated by different authorities, depending on the player’s country. In the USA, the oversight responsibilities are divided between five financial regulatory agencies. In the EU, the European Commission is working on a revision of the current legislative framework. The Member States cooperate to respond to unfair contract terms, misleading commercial practices, and various issues related to mobile payments.
The predicted growth of mobile payment requires more precise laws that would predict abuse. The global market for mobile payments is expected to reach $12.06 trillion by 2027.
Pros of Pay by Mobile Casinos
There are several reasons behind the rising popularity of this payment method:
- It’s fast and convenient
Everyone has a mobile phone number. You can use it to safely deposit money and start gambling in a matter of minutes.
- It’s immediately available
Sometimes you don’t have your plastic cards with you, and still haven’t created an eWallet account. But you always know what your phone number is, and you can use it to immediately deposit money in an online casino.
- It’s flexible
You can pay your next mobile phone bill with any method that’s convenient at the moment. Operators accept PayPal, other eWallets, credit/debit cards, cash, and more.
- It lets you monitor your expenses
Your next bill will include an account balance, which will show the exact amount you used for online gambling. There’s no need for a gambler to be extremely financially literate to evaluate the spending. Monitoring gambling expenses is the first step towards control.
Cons of Pay by Mobile Casinos
The main disadvantage of this banking method is its potential to push gamblers towards addiction. Even if they don’t have any funds on their cards and eWallets, they can still deposit money this way. Even if they started gambling with a plan to stick to a firm budget, the option of a delayed payment tempts them to deposit money.
Another important disadvantage is that you can’t withdraw money through a mobile phone bill. When you read the terms, you’ll see that most online casinos recommend you to use the same banking method for deposits and withdrawals. In this case, you’ll have to choose another payment system to get your winnings. In most cases, a bank transfer or a withdrawal to a debit card is available to gamblers who use the pay-by-mobile depositing method.
Should You Use This Banking Method?
If you can keep your gambling behavior under control, then withdrawals are the only issue with the pay-by-phone payment option. The advantages, on the other hand, are great! You won’t spend any time creating eWallet accounts and connecting them to an actual bank account. You’ll cover the expense when you pay your next phone bill, so you can enjoy a gambling session even if you don’t have any money at the moment.
The important thing is to set a budget and stay within its limits!