The most common options for funding online casino Singapore accounts are credit cards and e-wallets. Now a third option is
fast gaining ground and this is prepaid vouchers. Prepaid vouchers are
different in nature from credit cards and e-wallets and offer certain
advantages. This article explains these differences and advantages. Credit
cards allow the players to wager with borrowed money because the player has to
settle accounts with the credit card company weeks or months after he has used
the funds for wagering. The limits offered by credit card companies are usually
quite large and provide sufficient funds to the player. These characteristics
of credit cards tempt the online casino Singapore player to wager larger
amounts than he can afford to. Another problem with credit cards is that all
the transactions are documented in the credit card bills and therefore the
player is not able to keep his wagering secret. If a player funds his e-wallet
account using credit cards then he faces the same disadvantages as in the case
of the credit cards. However if he uses his bank account to fund the e-wallet
then he pays in advance for his online gambling, but faces the remaining
disadvantages. The prepaid voucher is a small amount voucher that can be
purchased for cash from a retail outlet. The voucher contains a number in code.
When this number is entered at the online casino Singapore accepting the
voucher, the players account gets credited by the value of the voucher. This
system overcomes all the three disadvantages in credit cards and credit card
funded e-wallets. The prepaid vouchers have to be paid for upfront. There is no
question of the player using any credit. Because the player is not waging with
borrowed money, but with his own hard earned funds, there is little temptation
to engage in excess wagering. Unlike the credit cards or e-wallets that can be
used to transfer large amounts to online casino Singapore accounts in a single
transaction, prepaid vouchers are for much smaller denominations. Hence
individual transactions are limited in value. Once the amount is used up by the
player at the online casino Singapore has to purchase another prepaid voucher.
Since this purchase is usually made from retail outlets and cannot be done
online the process serves as a brake to rapidly transferring large amounts to
online casino Singapore accounts. Finally prepaid vouchers can be purchased for
cash. They are one-time use instruments that have no value once the funds are
transferred. There is no record in the player's bank account of having
purchased the prepaid voucher. The prepaid voucher connects the buyer and
seller of the prepaid voucher and the online casino only through the number or
code printed on the voucher. There is no link to the player's name or address.
Therefore those players who not want entries of their wagering to figure in
bank documents or credit card bills find prepaid vouchers of great value. Two
factors have been instrumental in the success of prepaid vouchers. One is the
software technology that links the buyer, the seller and the online casino
through only one number and that too in a secure online environment. The second
factor is the availability of certain retail outlets that are spread out in all
localities. Usually the suppliers of prepaid vouchers tie up with different
retail outlets in different countries depending on which has greater reach and
popularity. The use of prepaid vouchers is an emerging banking option for Singapore online casino that is bound to grow in the future.
