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Trustly Payments: Why Should EU Gamblers Switch to It?

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Trustly Payments: Why Should EU Gamblers Switch to It?
Reading Time: 4 minutes

 

Top-notch casino companies aim to create a secure system through which punters can buy their bets. This is especially critical during this era of cybercrime when are conscious of the kind of channels that they send their money through. Due to the high online scams, many people want to conduct their transactions on a system that’s scam-proof. 

There are many payment models that punters can use to buy their bets. However, some of them may not provide an excellent service that may meet the expectations of players. One of the best payment methods through which you can channel your money from the bank account to your casino account is Trustly. Keep reading to discover what Trustly is, how it works, and its pros and cons.

 

Facts about Trustly Payments

Trustly is a secure and risk-free payment mode that enables you to make a payment from your bank account. Trustly system was created in 2008 and was initially called InstantBank. This payment method is available in found in Europe. 

Trustly works closely with other payment companies like PayPal to offer excellent client experience. Although various clients can use the technique, it mainly works well with online players.

 

How Does it Work?

Trustly is a unique mode of payment because, as a shopper, you don’t need to register with them to enjoy their services. This means that if the casino site supports Trustly, you don’t move out of the platform when making payments.

When you want to make payment through payment, you’ll see an electronic form where you indicate your bank and how much you want to pay. Having filled out the e-form, provide Trustly with your banking information that it verifies and avails the funds in your casino account.

Trustly works by ensuring that the bettor and the betting platform is are risk-free. Trustly is viewed as a payment mode as opposed to being a website. 

Before you utilize Trustly, it’s critical to check whether your financial institution approves it. Although Trustly is free, you need to find out the amount your lottery website charges when using such payment mode.

 

Benefits of Using Trustly

The gambling industry is evolving due to technology. Currently, you can log in and start playing your best lottery games because there are several gambling sites with no verification for UK and international players. When using such sites, a payment mode like Trustly becomes critical. Many benefits also accrue as a result of using Trustly. These include:

 

Secure online payment

In the past, some individuals used to avoid online gaming and shopping due to scams that used to happen when making payment. However, with the emergence of payment methods like Trustly, such fears are no longer there. Trustly is a secure method of making payment online. Just like all banks, Trustly is controlled by Swedish FSA and gamblers don’t have to fear when making their payments.

Security of Trustly is enhanced by the fact that the payment mode doesn’t save your bank details on their system or the casino one.

 

Quick and convenient payment method

Trustly is designed to provide fast payment with minimal hassles. You can easily transact with any currency at your bank account. Also, you don’t need to have an account with Trustly before you start making your payment through the system. The deposit method doesn’t require any AML procedure, downloading of apps or installation of specific software before you use it.

The method is mobile phone-friendly 

Nowadays, many people use their smartphones to conduct multiple businesses online. Most online gambling sites are also friendly to mobile phones. The good news is that Trustly is also mobile-friendly and bettors can make their payment while using their smartphones.

You can withdraw your prize through Trustly

In case you’ve won a lottery prize, you can withdraw the amount to your bank through Trustly. The system is safe and quick.

No charges

Trustly offers free of charge services. However, the online casino may charge you in case you use the Trustly method of payment.

 

The Downsides of Trustly

  • Not all banks support the payment mode – There are specific banks that don’t recommend this payment method. If you’ve got an account with such banks, you cannot enjoy the free services offered by Trustly.
  • Few countries have it – Trustly is available in some countries in Europe. It’s not a global payment method. You can’t enjoy the payment solution if you don’t come from such countries.

 

Alternatives to Trustly

In case you don’t access Trusty, there are other payment modes that you can use. These include: 

PayPal 

PayPal is a solution that enables you to make or receive payment online. You can start enjoying the service when you register your credit card and use your email address as your account. PayPal is secure and used to make transactions at a global level.

Sofort

Sofort is a solution that enables consumers to make payment. This mode of payment is available in eight countries in Europe. You only need to verify the money that you want to send because other details are already provided. The method is secure as it’s compliant to bank safety regulations.

Poli 

This is a payment method that enables a person to withdraw money from their bank account. The service is mainly available in Australia and New Zealand. The Poli method is secure as the system doesn’t take sensitive data from you.

 

Conclusion 

There are multiple methods that you can use when buying bets online. The mode you apply depends on your location. This article offers you essential information on some of the payment methods.

Industry News

Patrick Svensk Resigns as Chairman of Betsson

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Patrick Svensk, Chairman of the Board of Betsson AB (publ), has informed the Nomination Committee that he is resigning from Betsson’s Board of Directors and the assignment as Chairman with immediate effect. The Board has appointed Johan Lundberg, currently a member of Betsson’s Board, as the new Chairman.

Patrick Svensk has been a member of Betsson’s Board of Directors since 2005, and Chairman of the Board since 2017. The decision to resign from Betsson’s Board of Directors is based on the fact that the company’s major shareholders have stated that they no longer have full confidence in Patrick Svensk as Chairman of the Board. The lack of full trust is due to how the dismissal of the CEO was handled, which the company communicated in a press release on September 17, 2021.

“It is very sad, and I am sorry that I have disappointed our major owners, but I have done what I thought was best for the company. I am proud of what we have achieved during these years and wish everyone at Betsson great luck in the future,” Patrick Svensk said.

Johan Lundberg, who has been appointed as new Chairman by the Board, has been a member of Betsson’s Board since 2018. Johan Lundberg is the founder of NFT Ventures and a Board Member of Loomis, Svolder and Ölands Bank.

“I would like to extend a warm thank you to Patrick Svensk for his valuable contributions to the Board for almost 17 years. I look forward to continuing the work with the rest of the board to recruit the next generation of international leader to Betsson and at the same time complete the strategic work that is going on with renewal and growth,” Johan Lundberg said.

The Chairman of the Nomination Committee Michael Knutsson has expressed full confidence and support for the remaining Board members and its election of a new Chairman and supports the decision to seek the next generation of international leader for Betsson.

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Industry News

Holland Casino Expects Gains in H2 2021

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Holland Casino is preparing for recovery after a rough first half of the year, having been forced to close for more than 5 months due to measures taken against the COVID-19 pandemic.

As anticipated by the Dutch state-owned company, the extended closure had a negative impact on its financial results for the first half of the year. But as its 14 branches have been operating again since June 5, the operator now expects to post positive results for the second half of 2021.

Turnover achieved in June shows that Holland Casino will soon be able “to operate in a healthy manner” again. Moreover, after having completed “necessary restructuring,” the company expects to become a more efficient and agile organisation, according to a press statement released on Wednesday.

Turnover for H1 2021 posted a low €28.8 million. Net results for tax purposes amounted to a loss of €64.8 million, compared to a loss of €37.8 million over the same period in 2020, in which the company remained open for several months.

“Although Coronavirus also hit our company head-on in the first half of 2021, notably our anniversary year in which we celebrate 45 years in business, we still look ahead with confidence. All in all, Netherlands was deprived of legal casino offer for almost a year, but now that the measures are disappearing little by little, recovery is in sight,” Erwin van Lambaart, CEO of Holland Casino, said.

“We see bright spots in the potential offer of online games of chance as of October 1, for which we have applied for a license, and the opening of our new world-class casino branches in Venlo and Utrecht,” van Lambaart added.

CFO Ruud Bergervoet considers that having sufficient liquid assets in the past six months was key to the company getting through the difficult period of closure. That, along with the NOW scheme, the deferral of tax payments, strict cost control measures and tight operation management, led to the company being able “to safeguard the continuity” of its operations over the past year and a half.

“The significant tax debt of €190.5 million is offset by a strong liquidity position without bank debt. We are therefore considering paying off this tax debt more quickly if no new Coronavirus measures are introduced and the recovery actually continues. The results after June are promising in that regard,” Bergervoet said.

Despite all branches now being open, certain pandemic measures are still being enforced, and Holland Casino is receiving guests at limited capacity in its gambling venues. The company expects that these measures will be phased out, with the hope to open at full capacity and without restrictions “towards autumn.”

“We are also looking forward to the reintroduction of poker, live bingo and our NXT zones so that gaming can really be experienced together again. We also hope to be able to offer our bars and restaurants after midnight, which currently all close at midnight,” van Lambaart said.

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Industry News

Singular Signs 100% of Shares to Flutter Entertainment

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Accountancy firms Crowe UK and Partis Capital have partnered to advise the shareholders of B2B software development company Singular on the sale of its business to Flutter Entertainment.

Singular will sign over 100% of its shares to operator giant Flutter and is the latest company to emerge from the partnership between Crowe and Partis, which provides a combination of M&A expertise and market access; aiding enterprises in the gaming sector with full support on all M&A advisory services.

Darko Gacov, Co-founder and Chief Business Development Officer of Singular, said: “This deal is a huge recognition of Singular and what we managed to build and it furthermore sets the foundation of an exciting next chapter. We look forward to exploring new challenges and opportunities, now being a part of the largest online betting and gaming company in the world.

“Working with Crowe UK, Partis Capital and DWF on the deal has been a really rewarding experience and their help and guidance throughout the process was invaluable in achieving an excellent outcome for the shareholders.”

Justin Edgar, Director at DWF, and Partner Edon Byrnes led the team who advised any legal aspects of the sale to the shareholders on the decision.

Partis Partners, Dan Beard and Stefan Hamann said: “The Crowe and Partis team have had the honour to support the strategic development of Singular over the past few years. It became apparent early in our collaboration that the Singular team had developed an industry-unique iGaming solution that created tremendous value for operators. We congratulate the Flutter and Singular teams on having the foresight to take advantage of this opportunity to create a very powerful partnership.”

Matteo Timpani, Corporate Finance Partner of Crowe UK, said: “It has been an absolute pleasure to support the Singular team throughout this transaction which represents another iGaming deal delivered by Crowe and Partis.

“The company and culture that the Singular shareholders managed to create is an amazing achievement. We look forward to watching both Singular and Flutter flourish following this important strategic acquisition and wish them every success in the future.”

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