The online casino industry has seen plenty of changes and developments throughout 2020.
One of the biggest came as a shock, as both Neteller and Skrill announced they will be leaving the Norwegian gambling market.
These industry giants offer safe and secure payment options in various online casinos which is why their departure left many shocked and wondering about the future of the market.
A sudden departure
The announcement came very suddenly early in December. The e-wallet companies gave online casinos until the 8th of December to inform players regarding the upcoming changes.
On top of that, players were only given the opportunity to cash out their Skrill and Neteller wins until the 21st of December 2020. After that, there was no service from either e-wallet available at Norwegian online casinos.
Alternatives to Neteller and Skrill?
Neteller and Skrill are two of the largest electronic payment providers serving customers worldwide. Online gambling has become quite popular in Norway despite the strict laws and regulations making it almost illegal.
According to Norwegian regulations, it is illegal to gamble online unless the casino operator is set by the local authorities or industry representatives. With these strict laws in place, many players have opted for alternative options and methods to escape the possibility of breaking the law.
Neteller and Skrill were safe payment options that enabled players to access a wider variety of online casinos. With both leaving the market, players are forced to seek alternatives.
The fact of the matter is that there aren’t currently many options available for players looking to enjoy variety in games and online casinos. One of the few options still available is ecoPayz although this option hasn’t been utilised by many Norwegian online casino players. However, the current changes could bring opportunity knocking for this payment method.
Unfortunately, there aren’t many other options to list at this point. Viable options are few and it could mean exploring cryptocurrency.
Is there a future for online gambling?
With Neteller and Skrill removing their support for online gambling activity in Norway, there is concern for how players will gain access. This is considering the strict regulations already limiting their choice of casinos and games.
With the bad comes the opportunity to rise up and even develop something new. The current situation might be dire but it’s the ideal opportunity for e-wallets to find a way to break through and reach new players. Or for new and alternative payment methods to be created.