The must for secure transactions: Skrill
Founded in 2001 by Daniel Klein and Benjamin Kullmann as Moneybookers, Skrill was almost instantly plunged into a struggle for supremacy in the online payments niche.
In 2007, the brand was sold to Investcorp Technology Partners. After that, Moneybookers began to actively expand and reached a customer base of 25 million people and 150,000 businesses, including online casinos, e-commerce sites and popular commercial platforms by 2011. A year earlier, it had been named the fastest growing company in the UK. Just after that, the company announced the rebranding and entered the market under a new name – Skrill.
In February 2013, Skrill purchased Paysafecard, a service that allows consumers to buy prepaid vouchers and then use them to purchase goods and services online.
In March 2015, Optimal Payments, the parent company of Skrill’s competitor Neteller, acquired the Skrill group for €1.1 billion. The acquisition was completed in the third quarter of 2015.
Skrill is known to be one of the most user-friendly encryption services. Encryption exchanges often offer it as one of their filing methods, while the company has set up its own encryption gateway for those wishing to buy and hold an interest in cryptocurrents in 2018. Today, the gateway also supports Bitcoin, Ethereum, Litecoin and some other tokens, which you can exchange transparently in the platform interface. Thanks to this, you can use Skrill as a payment method in online casinos that also accept cryptocurrency.
Advantages and disadvantages of Skrill as a payment method in casinos
With the possible exception of credit cards, Skrill is the most popular means of payment in online casinos. But is it the most convenient payment system for all players? Let’s find out the advantages and disadvantages of Skrill as a payment method in casinos.
The main advantages of Skrill are as follows:
- Multi-level security. With an e-wallet, you never give your banking details to the online casino.
- The deposit fees are very competitive. You pay less money to deposit in Skrill than in Neteller and many other wallets.
- Fast deposits and withdrawals. This applies both to internal transactions and to money transfers to and from Skrill online casinos. Compared to credit card transactions, where you can wait several days for your winnings, Skrill delivers the money to your account within a maximum of 24 hours.
- Wide acceptance. Skrill is available in more than 100 countries and accepts more than 40 currencies, not counting several cryptocurrencies.
While these advantages seem attractive enough to choose Skrill for your first deposit at the casino, there are a few drawbacks that you should consider first:
It is not yet as widely accepted as credit/debit cards. Visa and Mastercard are still the most common payment options for online casinos. It is still very unlikely that a casino that you have randomly found on the web does not accept Skrill.
High withdrawal fees. To withdraw funds from Skrill to your credit card, you have to pay a 7.5% fee, which is extremely high. Don’t confuse this with Skrill casino deposits and withdrawals – these are free.
How to use Skrill online
Skrill is easy to use, just like other electronic wallets. To pay with Skrill in an online casino, you need to follow these simple steps :
- Sign up for Skrill by entering your email address and the required personal information. Specify your country and preferred currency.
- Skrill will send you a verification email. Check your inbox and follow the link to verify your Skrill account.
- Add your deposit method to deposit money into your Skrill account.
- Register at an appropriate Skrill online casino and choose Skrill as your deposit method.
- Choose the right amount and fund your casino account with Skrill.
- If the casino you have chosen offers bonuses to players depositing with Skrill, you should be able to take advantage of this opportunity to get additional funds to play with.
The withdrawal process is very similar. You need to request a withdrawal on the corresponding page and choose Skrill as your withdrawal method from the casino.
How to choose the right casino that accepts Skrill deposits
We have gathered the best casinos with Skrill payments on our best online casinos page. These sites have already established their good reputation and have a wide variety of games in their collection.
The most demanding users can also apply many filters to find the Skrill casino that exactly matches their query. For example, you can filter out Microgaming casinos that accept Skrill at the same time, or search for Skrill casinos that host players from a specific country, be it the UK, Australia or Canada.