Skrill and Neteller stop support for gambling payments In Norway

Gambling is increasing in popularity all over the world, especially online gambling has become one of the most common activities within the pandemic period. Thus, many online casino websites, as well as their partners, try to improve the quality of service they provide to their customers, in order to make gambling even more appealing and a better experience.

While most of the companies are trying to implement new strategies and approaches for the gambling industry, a very unexpected move was seen from two electronic currency wallet giants Skrill and Neteller. There are a few such safe and secure e-wallets like Skrill and Neteller, and them leaving the market has come as a very bad surprise.

The decision about two giants leaving the Norwegian market was announced in early December. Online casinos were given time until the 8th of December in order to inform their customers regarding the changes. Moreover, the players were only able to cash out their winnings from Skrill and Neteller until the 21st of December. From that date on, the online casinos can no longer offer customers the service of either Skrill or Neteller.

Norwegians left with a little alternative

While gambling in Norway is quite popular, the Norwegian gambling laws and regulations are quite strict. Because of the regulations and the fact that online gambling is almost illegal in Norway unless the gambling operator is set by the local authorities and industry representatives, the players try to escape all possible breaches of the law.

E-wallets such as Neteller and Skrill offer players the safest and most secure transactions, which enables them to stay away from the regulatory authorities and not to be noticed by the governments. Now, that both operators have left the market, players have to seek another alternative.

With this news, published back at the beginning of the month, both online casinos and affiliate websites were asked to provide as much information as possible regarding the changes and possible outcomes. More information about the challenges for the Norwegian gambling market is accessible on Norsk Casino Online, provided by the industry experts and analysts.

Every affiliate website, as well as casinos themselves, have the obligation to inform every customer regarding the new regulations and rules.

The bad news is bad news

While the new is generally quite bad, the worst part is that Norwegian gamblers have to seek alternatives, which is almost nonexistent in Norway. E-Wallets were seen as trustworthy and secure payment methods, but now other providers have to take care of the depositing and betting at gaming sites.

Everything this is even more discouraging, especially when the crypto payments are getting more and more popular all over the world, and more people start using cryptos instead of any other type of money, the necessity of e-wallets is increasing. Norwegian e-wallet account holders had the time of around two weeks in order to cash out all of the funds existing in the wallet.

While both Skrill and Neteller will no longer support the gambling-related transaction, it does not mean that they will not support regular transactions, or will limit Norwegian e-wallet holders from using ATM or any other services. They will also be able to utilize Paysafe’s wallet crypto services.

This might be the new room for development

Overall, the new changes will necessarily become new challenges for the Norwegian gambling industry. While the laws were not easy and soft, now they are limited even twice as much. Though, nothing should be conceived only from one perspective. While the doors are closed for Skrill and Neteller, they remain open for ecoPayz, which is now the only viable alternative option. It is true that not many customers have been seen to use ecoPayz before, now this might be a completely new opportunity.

Just like ecoPayz, the vanishing of the two major giants from the local market might be a new opportunity for others. Not yet, but hopefully, in the future, we should see some new faces in the market, who will not only be the viable alternative but will also become a very valuable service for the locals.

The bottom line

A closed opportunity for one is an open opportunity for another. The overall situation with online gambling in Norway is definitely not the best, especially considering the regulations and the gambling laws in countries across the globe. Though this might be the reason for other e-wallets to seek the way through the strict regulations, or for casinos to change and add some new and alternative payment methods.