Quick New Payout Option for Online Casinos
By: R. Kingsley, Thursday September 25th 2008
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One of the biggest impediments to online casino gambling is the difficulty in withdrawing funds. There are legal issues like those imposed by the UIGEA. There are issues of security and the fear of hackers accessing credit card data. The financial service providers to online casinos are now coming out with better options, options that increase convenience without compromising security. Ukash is one such financial service provider.
Ukash is a product from Smart Voucher Limited. Smart Voucher Limited is an Electronic Money Institution that is regulated by the United Kingdom Financial Services Authority. The major advantage of Ukash is that no credit or debit cards are required and the user does not have to provide sensitive personal or financial details. Ukash uses the Smart Voucher system of generating a random and unique voucher number that can be used only once. Hence there is no danger of anyone accessing that voucher number because once used it is of no value.
Now Ukash has introduced UkashOut, which offers instant withdrawals to online casino players. The beauty of this system is that it is universal and independent of the option used to deposit the funds. The basis of the system is the UkashOut card, which is a global card that operates on cash machines around the world. This card can be obtained from Ukash. However many of the online casinos are giving this card free of cost to their VIP customers. The customers can then log onto the online casino, go to the cashier section, enter the amount to be withdrawn and select UkashOut as the withdrawal option. The value is immediately transferred to the cards and the amount can be withdrawn at any ATM using the card. The entire process is integrated with the existing Ukash system, which has been designed by experts and tested over time. There are no new administrative hassles. Any online casino that wants to add this withdrawal option has just to add a technical interface to the software.
UkashOut is good for the online casino industry as well. Offering an easy and safe payment option will bring new customers to the industry. There are many interested players who are staying away because of their fear of the financial transactions aspect of the industry. Now they will be assured and will enter the industry. UkashOut will open new markets for the online casino industry as well. This system is available in 20 countries and the number is increasing.
ChiliPoker was one of the first online casinos to offer UkashOut to its customers. On the occasion Mark Chirnsdale, Chief Executive Officer for Ukash, said, "As the company that introduced online cash payments in Europe, we are pleased to bring UkashOut to the market and to see it so eagerly adopted by one of the strongest online gaming providers."
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