Prepaid cards, such as Paysafecard, are a longstanding option in the UK online betting market. They offer players a secure and controlled way to manage their deposits. However, with restrictions on withdrawal capabilities and low deposit limits, many operators wonder why Paysafecard continues to be a popular choice.
In this interview, Christoffer Ødegården, Head of Marketing at UK affiliate Bojoko.com, explores the ongoing relevance of prepaid cards, their specific appeal for certain players, and how operators can maximise the value of offering this payment method despite its limitations.
SBC News: Prepaid cards like Paysafecard remain popular in the UK, even though they come with limitations such as low deposit amounts and the need for a different payment method for withdrawals. What drives this ongoing appeal among players?
Christoffer Ødegården: Prepaid cards like Paysafecard continue to be highly appealing because they don’t require personal banking details to be entered on the casino site, offering an extra layer of privacy that many players find reassuring.
This level of anonymity is especially appealing to those who value their privacy or might be hesitant to share sensitive financial information online. We see a similar trend with e-wallets.
Despite the limitations of low deposit amounts and the need for a secondary method for withdrawals, Paysafecard’s security and control are strong incentives for players to continue using it. Familiarity must also be considered a factor, and as we have talked about previously, other payment methods, such as bank transfers, remain popular in large part for this reason.
For many UK users, it may also be about managing spending more effectively. Paysafecard allows players to deposit small amounts, which means they can control their budget without the temptation to overspend. It’s a straightforward, no-fuss option for those who prefer to keep their gambling and bank accounts separate.
SBC: How do operators benefit from offering Paysafecard as an option, considering it’s not as comprehensive as other methods?
CØ: Operators’ offering Paysafecard clearly benefits them in terms of catering to a broader audience, particularly players who might be more risk-averse or cautious about using traditional banking methods.
By including Paysafecard, operators can appeal to casual or first-time players who prefer low-risk transactions and smaller deposits. It’s an entry point for those hesitant about online gambling payments, and these players often appreciate the simplicity and reassurance that a prepaid card offers.
They will also be able to access a large number of FTDs from affiliates such as ourselves. We rank the top Paysafecard casino sites in the United Kingdom and have hundreds of monthly visits. Using search tools, we can see that thousands of Brits search for casinos that accept Paysafecard every single month. These are players you will not reach if you do not cater to them.
Today, Brits know they can pick and choose, almost no matter what their payment method of choice is. We have reviewed well over a hundred casinos that have Paysafecard as an option. There is no shortage. If you are not present on overviews like ours, a large number of potential FTDs will be lost.
SBC: Given Paysafecard’s limitations, such as not being usable for withdrawals, how do you see its role evolving in the UK market?
CØ: It is possible that a younger market will shift to e-wallets and similar digital solutions that also allow withdrawals. Still, I don’t see Paysafecard, in particular, losing its status anytime soon.
Paysafecard has never allowed withdrawals, and alternatives have been around for decades. Players who use Paysafecard are often happy to manage withdrawals through another method, like a bank transfer or e-wallet, if it means they can retain the control and privacy benefits of using Paysafecard for deposits.
That said, the evolution of prepaid cards will likely depend on how well they can integrate more flexible options for users. Paysafe, the company that owns Paysafecards, also owns the popular e-wallets Skrill and Neteller, and a more dynamic relationship there could be possible, though I don’t want to speculate.