Last Updated: February 24, 2021.
Did you know that 25% of prospective gamblers don’t take part in casino games due to complicated payment regulations in the sector? For a long time, gambling firms have been on the receiving end of these stringent regulations until Muchbetter payment option came along.
MuchBetter is an iGaming e-payment gateway that is specifically designed for online casinos and facilitates real-time transactions where big money payment merchants such as PayPal have failed.
This article presents an edge-cutting review on every aspect of this game-changing e-wallet. But if you’re in a hurry and need a guide on the best MuchBetter online casinos, find out more on online-casinos.com. Otherwise, let’s dive right in.
Note: Please be noted we do not encourage or support online gambling etc, and we don’t own such portals/websites, please follow your local laws and invest at your own risk.
What is MuchBetter e-wallet?
MuchBetter e-wallet is a London-based payment service launched in 2017. The revolutionary technology was pioneered by MIR UK Limited and has since been backed up by several partner corporations. The company is FCA licensed and a regulated e-money issuer.
MuchBetter has been seamlessly absorbed into the payment sector due to its advanced security features and real-time transaction capabilities. As a true testimony to its success, the app has over 150, 000+ active users across the globe not to mention that it has won multiple awards and nominations beating already established big names in the industry.
In 2018, it won the EGR B2B’s Rising Star Award and the payment innovation of the year hosted by Payment Awards.
In 2019, Muchbetter was voted the winner for Merchant Payment Ecosystem Award as the Best Startup innovation and the Best Digital Payments Programme award later in the year.
Using MuchBetter e-wallet
Using MuchBetter at your favorite casino is easy. All you need is to follow the following steps;
Download the MuchBetter Application.
MuchBetter brings your payment experience straight to your mobile phone through its MuchBetter application which is available in the Apple store for iOS users and Google Playstore for Android users. The application is free to download.
Open an account
After installing the application, you have to register as a user on the platform. Don’t worry; you only need an email address, a phone number, and your user name. Once you have set your Personal Identification Number (PIN), your account will be activated. However, you can’t use it for transactions just yet!
To bolster the security on the platform, MuchBetter requires all users to verify their identity details by providing an identification document such as a passport, National Id, or driver’s license. Proof of residence will be required too.
The verification process is swift and once cleared you will be free to use the platform at your favorite online casino.
Make a deposit
Adding money into your MuchBetter account is a straightforward process. You can deposit by linking your account to an active credit/debit card or an e-wallet from where you can authorize payment to your MuchBetter e-wallet.
Nonetheless, MuchBetter gives you a variety of options to fund your account as it also accepts deposits through Bitcoin, direct bank transfers, SOFORT, iDebit, Giro pay, Trustly, and Interac.
Once you have money in your MuchBetter account, you can use it as a payment option at any online casino that accepts the merchant as a payment option. The payment process is secure with a 2-step verification option.
Withdraw your funds
Withdrawing your funds from the online Casino to your MuchBetter account takes between 10 minutes to several business days depending on the casino’s payment system.
Firstly, you have to select MuchBetter as your preferred payment option. Before initiating the payment, make sure that you have entered the correct recipient’s (your MuchBetter) phone number. The payment will be processed once approved by the casino.
It is regulated
With the rise in cyber-crime, it pays to ensure that your payment merchant is authorized by your government to offer such services. This protects your consumer rights from fraudulent violations.
Muchbetter is authorized by the Financial Conduct Authority (FCA) of the United Kingdom, which is an independent entity tasked with the responsibility of regulating e-payment companies.
Regulation enhances the reliability and safety of online payment services.
Most services offered by MuchBetter are free. This includes app downloads, registration, and transactions within the merchant’s ecosystem. They have zero commission on online payments or merchant to merchant payments.
They only have a meager fee is a 1% to 8% commission on deposits and withdrawals depending on the payment options. As you would expect, currency conversion rates are also 0.99% lower than the market standard to cater to the exchange fee.
Unlike bank procedures, opening a MuchBetter account takes less than 5 minutes while customer verification takes less than 24 hours. They are swift and less cumbersome.
The mobile app is easy to use with great UI. It displays everything you need to complete your transaction on the home page which loads faster. The application is secure.
Are you tired of payment-declines by credit cards and banks? MuchBetter gives you a safer option to make payments to your favorite online casinos without going through a blockade of restrictions. You can use your Muchbetter e-wallet to make online payments on cryptocurrency, gambling, and casino sites that are prohibited by banks.
Get a Muchbetter Prepaid Card
You can request a MuchBetter prepaid card which can be used to make physical payments at different stores; local shops, gas stations, ATM withdrawals online shopping. As earlier mentioned, the Muchbetter has low fees on its card payment services.
World-class Security Features
Your Muchbetter account is protected by touch ID, device pairing, and dynamic security codes that legitimize all transactions through complex security codes. However, you should bolster security from your end by using antimalware when accessing your account through a computer.
Great Support Team
In case you run into any trouble, MuchBetter has a responsive team ready at your service. You get consultation services on any topic concerning your account. Furthermore, the company has dozens of FAQs on their website where you can get answers to frequently asked questions.
Rewards and Promotions
MuchBetter has a customer reward system that awards customers points based on their transactions. These points give you entry into a weekly raffle draw where random users win prizes in cash ranging from £ 2.50 to £ 100.
MuchBetter has revolutionized the iGaming sector and it keeps getting better. Now is the best time to get yourself a MuchBetter e-wallet and start enjoying endless benefits.