Our Guide to Boku Casinos and How They Work?
It may be that you’ve recently become a customer at a mobile casino and you’ve noticed Boku as a payment method and are curious to know more. Well Boku allows a customer to make a deposit to their account using their mobile phone number. Boku is very simple as it takes the money directly from the mobile phone carrier. This means that each time a deposit is made on your mobile via Boku it is essentially added to your monthly phone bill. If you’re using a ‘pay as you go’ sim the credit is taken from what you have on the phone.
It is very simple to use and here is how it works.
- Decide how much you wish to deposit. At present the maximum single deposit amount is £10 and and a maximum daily amount of £30.
- When making a deposit at a mobile casino scroll through the different options and select ‘pay by mobile’.
- Enter in your mobile phone number
- You’ll then receive a text message asking you to confirm your purchase, simply reply to this message to complete the process.
At the moment in the UK the following carriers will allow deposits to be made by Boku
It is fast becoming a popular method of payment as it reduces the need for customers to enter in a debit or credit card when making a purchase or transaction. This has a number of benefits from being quick and easy to use and also reduces the chance of fraud as no card details are entered at any point of the transaction. Its versatility to work on any web browser is also key as it means that no mobile device is restricted from using the service. It is also perfect for those individuals who do not have a standard bank account.
A Brief Look at the History and Background Boku
Boku was originally founded in 2003 and known as Vidicom Limited. The two founders were Thomas Kirk and Glyn Smith from Derbyshire, UK. After starting the concept and creating the software the pair of entrepreneurs began to look for funding for their idea of ‘mobilecash’. They turned their attentions to Silicone Valley and in 2008 got funding from the venture capitalists Khosla Venture. Things then began to move quickly as in 2009 the company became known as Boku and also launched in the USA with the acquisition of Paymo. Paymo were already working in the mobile payment sector so their acquisition fitted perfectly. At the same time of this purchase another $13 million flowed into the company by way of investment for different venture capitalists.
Since those early days the company has grown on a massive scale. At the time of writing it has made five acquisitions and received nearly $75M in funding from various venture capitalists. While these are impressive it is who Boku is signing deals with. Boku is not just a depositing facility for mobile casinos, but has struck deals with Facebook, Google Play, PlayStation Store, Spotify and many more. It is no wonder that more and more casinos are starting to offer Boku as a payment method considering some of the biggest companies in the world allow its customers to use their service.
When it comes to the history of pay by boku casino sites then there is not a great deal to report. It is a fairly new phenomenon and still many casinos are not on board or accepting it as a method of allowing their customers to make a deposit. The truth behind this is costs. For those operators who wish to offer their customers the ‘pay by text’ payment option there is a hefty cost involved. This in turn eats into the profits of the operator and therefore not every casino will offer Boku for this reason. An alternative reason is that a number of operators are still yet to be aware of this as a payment method. It seems staggering when you consider Boku is able to process over 4 billion payment requests worldwide.
There are also those who feel that pay by boku slots and casinos are a bad idea. As the money is not instantly debited from the bank account it can be difficult to keep track of how much money is being gambled. A number of leading charities are concerned that this new form of payment method will be all too attractive to those who have addictive personalities. They say that as the mobile phone bill is charged at the end of the month it is seen as ‘easy credit’ and therefore encourages unhealthy gambling. Naturally all gambling is unhealthy if not done in a controlled manner and this can apply to all forms of payment methods.
But there is no doubt that Boku is a very good option to pay for goods and services for customers who like it quick and hassle free. It is fast, easy and very convenient. And as the number of casino operators’ offering this payment method grows it appears to be very popular with players around the globe. If you’re looking for a website that offers boku and other payment providers then take a look at http://www.5slotsites.com