E-wallets have taken the online gambling world by storm, offering Singapore’s punters lightning-quick and discrete ways to fund their casino adventures. But what if that seamless transaction is being watched by invisible cyber-vultures? Keep reading to discover if the stakes are too high when gambling online with e-wallets at any trusted online casino Singapore.
Introduction
Facilitating instant deposits and withdrawals to and from online casino accounts makes an SG e-wallet casino loved by all. Many such casinos accept e-wallets and deliver a streamlined user experience by eliminating unnecessary pauses in payment processing.
However, the ingrained security risks associated with e-wallet integrations cannot be overlooked, especially when e-wallet fraud is rising. Major players in this industry, like Google Pay and Samsung Pay, have witnessed alarming increases of 153% and 140% in payment frauds in 2022.
So, if you’re not aware of the intricacies of using e-wallets safely in an online casino then you might end up with fraud.
What are E-Wallets?
E-wallets or Electronic Wallets are online payment methods that store payment details online and allow you to transfer funds electronically. Players can transfer desired amounts to these e-wallets using their credit cards, debit cards, net banking, NEFT, and even cryptocurrencies.
Transactions through e-wallets are frictionless and take place in real-time, so players don’t have to face the frustration caused by other sluggish payment methods like bank transfers and net banking.
International wire transfers with a leading Singapore bank, DBS, can consume up to 2 to 4 working days whereas e-wallet-based transactions happen immediately. Even a NEFT transaction takes 30 minutes.
They also decouple sensitive banking information from the online casino platform and add a layer of privacy and security for players. Considering this, many online casinos have started using e-wallets for payment methods. Their usage is very easy.
Players need to link their e-wallet with the online casino by entering their e-wallet email address or account ID and ensuring it’s funded.
When making a deposit, just select your e-wallet from the casino’s list of payment methods. Enter the amount you want to transfer and approve the transaction.
For withdrawals, choose the e-wallet, enter the amount you want to withdraw, and raise a withdrawal request. Based on the withdrawal terms, your request will be approved within 1-5 days.
E-Wallet Security Measures
Using e-wallets in online casinos real money is safe because strict security measures are already in place. Let’s review them first.
Encryption Technology
Two-Factor Authentication
Touch on Fraud Monitoring Systems
How Players Can Protect Themselves?
Did you know the number of fake gambling sites in Singapore spiked by 18% between 2019 and 2020? Singaporeans lost S$15.4 million due to these fake gambling platforms.
This is how players can remain out of harm’s way while using any SG e-wallet casino.
- You must choose a strong password for the e-wallet app and your online casino account. By strong passwords, we mean combining letters, symbols, and digits. Keep it at least 8 characters long. A complex password is hard to crack or guess, reducing the risk of e-wallet fraud.
- It’s paramount for users of e-wallet casinos in Singapore to remain highly vigilant against phishing attempts and avoid clicking on any spammy or unauthorised email or message.
- One must process any transaction only on a private and secure network connection. Using a casino site over public WiFi augments the risk of exposing crucial data.
- You must install anti-virus software on your devices to access any casino. This software is designed to block fraudulent activities automatically, prevent you from accessing suspicious websites, and even identify potential threats.
Top E-Wallets for Singaporeans
Quick pay options such as Help2Pay, EeziePay, FastPay, SurePay, and TruePay dominate the casino landscape. Let’s see how they stack up.
Help2Pay
EeziePay
FastPay
SurePay
TruePay
Pros of E-Wallet Payments in Online Casinos
- ✅ Payments through an e-wallet in any instant withdrawal online casino Singapore are lightning-fast and frictionless.
- ✅ The security features of e-wallets, such as encryption, data protection, fraud detection, and many more, work like an extra security blanket for punters.
- ✅ Your actual payment details are never directly shared with the casino merchant. Hence, the risk of losing crucial financial information is very low.
- ✅ Some online casinos offer exclusive bonuses and promotions to encourage users to adopt their preferred e-wallet payment methods.
Cons of E-Wallet Casinos
- ❌ You don’t have many options; not every SG e-wallet casino accepts e-wallets.
- ❌ Many of these casinos charge nominal processing fees, which is an added expense.
- ❌ You might have trouble withdrawing your winnings because many online casinos accept e-wallets for only deposits.
Top 3 Online Casinos that Accept E-Wallet Payments
Wondering which Singapore e wallet casino is worth a try? We have three options to share.
GemBet
GemBet is South Asia’s renowned casino accepting SurePay, True Pay, and PayNow e-wallets. 250% welcome bonus of up to SGD 1,000, Free SGD 10 Casino Credits, SGD 25,000 Weekly Cash Rush, and withdrawal limits of up to SGD 50,000 for VIP Club Members are a few perks of being its user. Its live casino lobby is powered by Evolution, Pragmatic Play Live, CreedRoomz, and Vivogaming. Also, it has the best online slots in Singapore.
BK8
With a wide range of casino games conducted in licensed and regulated ecosystems, BK8 is worth your trust you get a wide range of bonuses such as a 288% Welcome Bonus of up to SDG 2,880, Lucky Wheel Spin, and BK8 App Exclusive Daily Reload Bonus. You can use EeziePay, FastPay, and Help2Pay e-wallets for deposits and withdrawals.
12Play
12Play lets you use PayTrust, EeziePay, Bitcoin, and bank transfers to fund your casino account and bet on a wide range of games from premium software providers like Playtech and Evolution Gaming. You can enjoy promotions like a 100% welcome bonus of up to SGD 300, Daily First Deposit Bonus and Unlimited Daily Bonus, and many more bonuses on this site.
