Online gambling in Wales is allowed to legal-aged members of the public and in whatever form of gambling whether for sports betting or online casino gaming. Yet there is a new type of online gambling today called Pay and Play, which is fast gaining popularity in several European countries, As many Welsh recreational gamblers have expressed interest in knowing when Pay and Play casinos will become accessible in Wales, find below a brief description of how the system works, and of the companies supporting this type of online gambling system.
First off, one should know that a Pay and Play online casino is also known as a No Account Casino, which simply denotes customers do not have to open an account before they can play for real money gambling. While the No Account distinction is attractive but seems risky, this type of online casino gambling is legal and quite popular in Germany, Sweden, Finland and The Netherlands.
Since Wales is under the jurisdiction of the UK government, Pay and Play online casinos has yet to be recognised as a legal form of gambling by the UK Gambling Commission (UKGC). Although a Pay and Play casino does not require the presentation of valid Identification Documents (IDs), the UKGC might consider the merits that made No Account Casinos trustworthy enough to be legalised by several European countries. .
Understanding How a No Account Casino Works
While a No Account Casinos offers online gamblers the chance to simply place a deposit and play instantly for real money at the site, it still does not mean people from all walks of life will be allowed to play at any time.
A player must first have a valid and verified account with an affiliate payment service provider, as the latter is practically the one in charge of verifying the identity of the customer. The affiliate payment service provider validates a person’s identity by sending over the personal information details of the individual making a deposit to the No Account Casino.
The system simply eliminates the redundancy of verification processes as they happen. Here’s the things, when individuals who already have an existing account with a payment processor, he or she still has to gp through another identification verification process with the company who will be using that online payment account.
Simply stated, the smart payment system connecting the payment processor and the online casinos, streamlines the way online casinos provide real money gambling entertainment to customers.
No Account Casinos also accept players who prefer to pay for deposit with the use cryptocurrency, for as long as the provider of their cryptocurrency wallet is affiliated with the online casino. When looking for Pay and Play online casinos highly recommended by other players, checkout the the list and relevant details provided by Casinochap.com.
Currently, the leading payment processing company affiliated with Pay and Play Casinos is Trustly.
The Swedish group behind Trustly first started out as a fintech company known as Glue Finance in Stockholm, Sweden in 2008. In 2014, and after several years of successful partnerships with online retailers, the company expanded to other countries by entering into strategic partnerships with Groupon and Paypal. Bridgeport Capital, a risk capital firm later infused €23 million to the company to obtain minority shareholdings with the highly successful Swedish fintech payment solutions provider. .
The arrival of Pay and Play online casinos in 2016 all the more established the Swedish fintech company’s efficiency in providing fast and efficient payment solutions.
Known today as Trustly, it works as a licensed payment institution under the authorization and supervision of the Swedish Financial Supervisory Authority. At the same time, Trustly is a holder of a European license as a compliant Payment Services Provider in accordance with the EU Commission’s Payment Services Directive.