PROVIDING YOU WITH ALL THE BEST BETS
Norway and her Scandinavian neighbours have been dabbling in the gambling world for centuries. There is a thriving online gambling industry in the country, but what sets it apart from the rest of the world are the player’s motivations for participating. In Norway, the general consensus is that people visit online casinos for entertainment purposes primarily, with no wild aspirations for making big money. Similarly, other nationalities, for example Irish players, have also shown a significant interest in online casinos, with their own unique approach to gambling. They are known for their adventurous spirit in testing their Irish luck, combining both the fun of the game and the thrill of potential winnings, however, players in Ireland focus more on the winnings. And that is what makes Norway a unique place, where everyone wants to just have fun playing.
If you’re interested in finding out more about online gambling in Norway and the safest payment methods to use at their online casinos, keep reading!
Regulations
Rules around online gambling were once rather relaxed, but the Norwegians enjoyed online casinos such as Neosurf casino a little too much, forcing the government to apply harsh regulations to the sector. There are only two companies in Norway that are permitted to provide online gambling services to residents. Norsk Risktoto is in charge of regulating horse racing and Norsk Tipping is responsible for regulating the National Lottery and online gambling sites. They have also put a supervisory body in place called the Norwegian Gaming Authority. As such, the state has very much monopolized the market.
This has not stopped residents from playing on international online casino sites. In fact, almost 66% of Norwegians who gamble do so on international sites. The updated Gambling Act is now putting pressure on foreign operators to comply with Norwegian laws by applying for a license and putting strict accountability measures in place.
Payment methods
The standards of living in Norway are exceptionally high, which means excellence is expected in all facets of life, so even online casino payment methods need to be top-notch. For those in Norway looking to play on international online casino sites, it is important to understand which payment processors are available. Let’s take a look at what they are:
MuchBetter
This payment gateway has been designed with iGaming in mind and is available globally. It is fast and easy to deposit your cash into your MuchBetter account as well as to make withdrawals. You will receive an SMS notification as soon as your casino operator has processed your request.
You don’t get much more secure than making casino payments through MuchBetter. There are plenty of robust security measures in place including SMS verification codes, biometric identification and device pairing.
Payz
This is a super secure and very fast payment processor which operates as an eWallet. Waiting times for payments to be processed are virtually non-existent with most users enjoying near-instant payments.
Payz uses advanced encryption and are fully compliant with various privacy and security regulations, ensuring your money is as secure as can be.
VISA
This highly respected financial institution facilitates credit and debit card payments on most online casinos. While making deposits using a VISA card is very simple and secure, it’s important to note that it is not supported by many online casinos as a withdrawal option.
Mastercard
Mastercard, much like VISA, is one of the leading financial institutions across the globe. As such, it offers customers highly secure and fast payments. Similarly to the above, Mastercard withdrawals are not widely offered, so you will need to check out your alternative options if you’re set on using Mastercard.
Revolut
If you’re looking for an alternative to mainstream banking, Revolut is an innovative mobile banking app which currently supports over 30 currencies. Since Revolut partnered with VISA and Mastercard to provide debit and credit cards, you will follow the same procedures as with your normal bank card.
Revolut uses fingerprint identification, disposable virtual cards and an award-winning anti-fraud system to keep your cash secure.
Klarna
There is a lot to love about Klarna. It offers instant deposits without adding on any fees. It is also mobile-friendly and an extremely safe, trustworthy payment method to use. You will not be able to make use of Klarna’s “buy now, pay later” service when making deposits. Instead, you can pay via a secure, instant direct bank transfer. It’s also important to note you will not be able to withdraw winnings via Klarna in most cases.
Klarna has very robust security measures in place that incorporate the most up to date security protocols, encryption and stringent anti-fraud measures.
Trustly
This payment processing solution was developed in Sweden and quickly cemented its position as one of the best payment methods for online casinos. Instead of being forced to reveal your personal information to the online casino, Trustly acts as the middleman, providing an extra layer of security to every transaction. Conveniently, you can also use Trustly to cash out your winnings.
Trustly is a fully licensed financial services provider and uses advanced encryption methods to secure accounts.
CoinsPaid
Want to pay using cryptocurrency? No problem! CoinsPaid supports over 30 digital currencies, giving you the freedom to put those tokens to good use. This once again adds an additional layer of security to deposits and withdrawals by keeping your financial information private. CoinsPaid also supports crypto to fiat conversions which will enable you to convert your winnings to your local currency.
With regards to security measures, CoinsPaid not only requires two-factor authentication but they also generate QR codes when completing transactions.
Jeton
This is another eWallet service that is available in most major markets. You can deposit funds into your Jeton wallet via your bank, credit cards or even prepaid Jeton vouchers. There are zero fees charged for deposits or withdrawals.
In terms of security, Jeton protects your funds with two-factor authentication, in-depth know your customer procedures and automatically logging you out if you’ve been inactive for a certain period of time.
Conclusion
While Norway’s banks will block most transactions to online casinos, the above secure payment methods offer a loophole. By depositing funds using a third-party payment processor, you can still enjoy foreign online casinos without being forced to stick to the local offerings.