Skrill, together with Neteller, is a frequently used payment method at online bookmakers, casinos and arcades. Skrill is a subsidiary of the Paysafe Group, a successful British payment processing company. Originally Skrill operated under the name Moneybookers, in 2013 the name was simplified to Skrill.
How does the payment system work?
The system is simple and works like a digital wallet, an e-wallet. After registering and creating a personal account on the skrill website, money can be deposited into your own Skrill account via VISA, bank transfer or other regular transaction. If you want to play in an online casino, the money in this Skrill account can be used as play credit on your personal casino account.
Skrill is being curbed
Despite its popularity, or just because of its popularity, the legislature intervened and imposed restrictions on online payment with Skrill.
In Belgium, this limitation has been in effect since 2019 with the introduction of the new law on games of chance. In the Netherlands, this legislation has only been in place since October 2021, in the same month in which online casinos finally received an official license after long efforts.
The reason this legislation was drawn up is to protect people with addiction problems. Paying with Skrill can in fact be seen as a kind of loan.
Money from a credit card – money a player may not even own – can be transferred to the Skrill account. This works perfectly, but when the player has to pay back the ‘borrowed’ amount from the credit card, he gets into trouble.
How much does it cost to pay with Skrill?
A casino gets part of its earnings from the percentages or fees they charge on executing a transaction. These percentages are different per online casino. It is certainly worth checking these percentages before making a deposit or withdrawing an amount. Withdrawing money from your Skrill account to a bank account can be especially high.
What are the benefits
Both the deposit and the withdrawal are smooth and very fast, especially compared to, for example, deposits via bank transfer. The system is simple and secure, it only asks for an email address and a password. Paying with Skrill is one of the cheaper systems to deposit at an online casino. This is because most casinos do not charge extra fees or fees.
What are the disadvantages
Should you ever need Skrill customer service, you’ll have to be able to manage in English. The helpdesk is not available in other languages. There is also no live chat, you can only ask questions by phone or pass on a possible complaint.