Live casinos have always been working on refining their services to cater to the ever-changing needs -dynamic needs of millennials and the new Generation Z, which are apparently 100% mobile- and internet-oriented. This makes a cost-effective and mobile-friendly payment solution that processes transactions at lightning speed mandatory for live casinos. Now, MuchBetter is one of those game-changing financial payment systems. It is a mobile-based e-wallet that enables live casino players to complete real-time transactions. MuchBetter works both ways; players can deposit or withdraw with it. It works with Android versions 5 and above and iOS systems of at least 10.
MIR Limited UK Ltd launched an online payment system that targeted younger users (who preferred using smartphone payment applications and wallets over cash and physical cards) in 2017. The system was christened MuchBetter, and its focus was on the global gaming market, an industry revolving around online payments. Was the move successful? The answer is yes, as the service was launched in more than 180 countries over the next three years. The staff was also scaled up from four to about 70, while partners increased to 50, with West Ham United FC being one of the most outstanding.
MuchBetter is verified by the Financial Conduct Authority (FCA), a renowned independent regulator in the UK, overseeing well over 51,000 financial institutions. Thanks to its fantastic service, the provider has picked up dome awards, including Best Digital Payments Programme at The Cards and Payments awards in 2019 and the Rising Star at the 2018 EGR awards.
As of 2022, MuchBetter is compatible with top providers such as Mastercard, Google Pay, and Apple Pay, and it is localized according to language and currency. Live casino players can top up their accounts with credit and debit cards, digital currencies, or bank transfers. Mastercard also allows players to use its Pay by Bank service, or they can fund their MuchBetter wallets with digital currencies.
For withdrawals, players can either transfer money from their MuchBetter wallets into the bank or move the funds to their MuchBetter Mastercard and withdraw it at an ATM. The MuchBetter card is issued by Mastercard and can be used anywhere under the sun.
With the brand having been created specifically for online gambling, one would easily assume that it works seamlessly within live casinos. And they would actually be perfectly right since depositing with MuchBetter at a live casino is a straightforward process. It involves two major simple steps, including funding the MuchBetter wallets and transferring the money into the player's casino account.
Before depositing into a live casino account, players must first load their MuchBetter wallet. As of 2022, the minimum amount players can deposit into their wallets is £10. The transaction can be completed via bank transfer, debit or credit cards (VISA, Mastercard, or Amex), or cryptocurrency (Bitcoin, Ethereum, etc.). Topping up with a debit or credit card will require the user to provide their first and last names, the card number, and CVV security code. Once that is done, they can select the expiry date and complete the process.
After an initial top-up, the user will be required to verify their identity by entering a 4-digit code. Failure to verify the card limits the user to a maximum of £50. If one uses Bitcoin to fund their wallet, the provider will create an invoice with a Bitcoin address. The funds will be converted into fiat money, and one can use it to play live games.
Players can deposit into their Much Better casinos by going to the banking page and selecting MuchBetter. Here, they can enter the amount they want to deposit. Typically, the limits range from €10 to a few thousand euros, depending on the casino. After selecting the amount, the player will be redirected to their MuchBetter account, where they may log in and complete the transfer. The deposit should be available in the casino account instantly.
Much Better live casino players can transfer money to their accounts free of charge. However, topping up via Bitcoin attracts a 2% in fees, while Mastercard and Visa come with zero to 5%. When using the MuchBetter card to withdraw cash from an ATM, a 0.99% fee is paid. Non-SEPA bank transfers cost £50, while withdrawals via UK faster bank transfer and SEPA bank transfer charge 2 to 2.5%.
There is a currency conversion fee of 0.99 percent, so it is vital for players to use the correct currency. Unfortunately, MuchBetter only accepts US dollars, euros, and British pounds sterling, at the moment. The good news is that most live casinos from top software providers support at least one of these currencies, so players should be able to avoid currency conversion charges in most cases.
|Comes with substantially lower fees, if at all there are any, than many of its more well-known e-wallet competitors, such as Neteller and Skrill.
|It is not available in some countries, notably the US
|Offers flexibility in that players can deposit on mobile or computer.
|There is no debit card options for non-EU or none-UK users
|MuchBetter deposits are instant, meaning players don't have to wait for hours to start playing. Once the deposit process is complete, money will reflect in their account within seconds.
|A rewards system is still missing
|The service comes with a sophisticated security system that includes features like fingerprint ID, security codes, and device pairing. These security features mean that all transactions are automatically reviewed for validity before processing. This gives live casino players peace of mind.
|MuchBetter supports contactless payment, whether via a MuchBetter Smartwatch, a wearable bracelet, or a MuchBetter card.
|MuchBetter supports both deposits and withdrawals, so players have an all-in-one payment system. Not many payment services allow support withdrawals.
As mentioned earlier, MuchBetter is regulated and licensed as an electronic money institution by the UK Financial Conduct Authority (FCA). It is also a member of the Electronic Money Association (EMA), a European trade body for electronic money issuers. To secure players' sensitive information and money, the provider has put a number of security measures in place. Each MuchBetter account is entirely protected with a combination of touch ID, a transaction review system, dynamic security codes, and device pairing.
Every MuchBetter account is linked to the owner's mobile number. Using one's phone number to log into their account makes the system almost hack-proof. The account is connected to the mobile device, and funds cannot be transferred until this device receives a verification message. A passcode must be entered to log in, and users who want to add a new device must provide an activation code. At their own wish, users can choose to use touchID instead of a passcode.
MuchBetter users can do more to their account to make the security even more watertight, including using more complex passcodes, keeping their mobile devices locked, and closing their MuchBetter app once they have used it. Enabling a shorter automatic screen lock period can also add an extra layer of security.