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The History of the Skrill Payment Method

Moneybookers' story began while PayPal already successfully established itself in the online payments space — and this was the system Moneybookers was going to compete with. The results were somewhat mixed: PayPal ended up controlling nearly 60% of the market, even though Skrill's penetration with only about 1% of the share grew significantly. It was noted that PayPal was only half as popular as Skrill in segments such as online gambling, cryptocurrency, and digital media platforms. More specifically, if you comprised just the Skrill payment casinos, Skrill had become a trusted deposit method in the eyes of players.

In the end, Moneybookers was acknowledged as one of the fastest growing companies in the UK, which caused it to rebrand itself into Skrill, a very common name. Ownership of the company was then sold to a consortium of investors who greatly expanded Skrill's e-commerce client base to over 150,000 businesses and nearly 25 million private users. This rapid growth drew the attention of the company Paysafecard, who purchased the platform and added a payment method for only a PIN code which allowed people to purchase securely and anonymously without any personal data.

Later, Skrill became part of a larger payments group when Optimal Payments acquired it - the operator of a similar e-wallet, Neteller. Eventually, the company also acquired Ukash to its portfolio as it was also a former rival in the industry.

Skrill has also established itself in the cryptocurrency world. Users can buy and sell prominent cryptocurrencies, like Bitcoin, Ethereum, and Litecoin, directly through Skrill. These digital assets can be used to make deposits in online casinos, to trade, or for general spending online.

How to Deposit with Skrill

There is only one reason that Skrill became widely accepted within the world of online gambling: registration only requires an email address (you can register up to four email addresses per account) and users can literally send their money to anyone in the world. Whenever players made deposits and withdrawals with Skrill, they can quickly use the money in their poker rooms or online casinos without ever waiting for their money, and Skrill was a first mover with their relationships with leading poker rooms and online casinos. Skrill is also a popular payment method amongst freelancers - especially in the tech area of online work - and online gamblers because it allows them to receive their money in a way that is simple and with minimal fees.

To deposit into a casino account using Skrill, follow these steps:

1. Sign Up for a new Skrill account by entering your email address and other personal information (including country and currency).

2. Verify your account by clicking the confirmation link sent to your email.

3. Add a payment method to fund your Skrill wallet.

4. Register at an online casino that accepts Skrill and select it as your preferred deposit method.

5. Choose your deposit amount and complete the transaction using your Skrill wallet.

6. (Optional) Claim a welcome bonus or special offer for using Skrill if the casino provides one.

The website is simple to use and has a convenient layout in multiple languages (including Russian). Comment: each section is labelled distinctly, allowing for fast navigation. Creating a personal account takes little more than a few minutes. Once you've created an account, the very next step is identity verification, if you want to be able to increase your transaction limits, and allow for larger withdrawal limits.

You can fund your Skrill account via:

• Bank transfer (usually commission-free)

• Debit or credit cards, including VISA, MasterCard, Discover, and JCB (with a fee of around 1.9%)

How to Withdraw Funds with Skrill

The process for withdrawing funds works similarly. Skrill operates in nearly 200 countries and processes hundreds of millions in transactions each year. It is a reliable and safe multi-currency system (more than 40 fiat and digital currencies), it works with debit and credit cards — one of the reasons it is commonly used in the top Skrill payment casinos.

To withdraw funds:

• Go to your Skrill account dashboard

• Submit a withdrawal request

• Wait for processing (usually fast, but not instant due to verification steps)

Withdrawal methods include:

• To a VISA debit or credit card

• To a bank account

• To a Skrill Prepaid Mastercard, usable at over two million ATMs worldwide

• Alternative local options, depending on your country

Fees to consider:

• Withdrawal to VISA: €2.95 + bank fees

• Bank transfer: €2.95 + bank-specific charges (can exceed €20)

• ATM withdrawal: €1.80

• Annual maintenance (wallet + prepaid card): €10

• Inactivity fee: €3

There are still lots of free services available, including sending money, receiving payments, checking your balance, and editing your PIN.

Deposit and withdrawal limits vary by account status. VIP customers have increased limits, and pay no currency conversion fees.

Pros and Cons of Using Skrill in Online Casinos

 Pros:

• High security with two-factor authentication

• Easy-to-use and award-winning interface

• Instant deposits and fast withdrawals

• Supports multiple payment types, including cryptocurrencies

• Loyalty programs and regular promotions

• Widely accepted by online casinos and poker platforms

• Usable for most everyday purchases

• Fair, average-level fees

• 24/7 customer support

 Cons:

• Few exclusive bonuses from casinos for using Skrill

• Some fees may be higher compared to alternatives

• VIP status requires high transaction volumes

• Identity verification needed for high-value withdrawals

FAQ

Is Skrill secure for use at an online casino?

Yes, Skrill is very secure, it has 2-factor protection — you link your mobile number and confirm transactions via SMS, and it is very difficult for someone to commit fraud.

Can I use Skrill at mobile casinos?

 Yes, of course. If there is a mobile-friendly version or app offered by the casino and it accepts Skrill, then it's a perfect and safe payment method, that players in Europe and around the world use with confidence.

Can I cash out casino winnings to my Skrill account?

 Of course. Skrill is widely accepted for deposits and withdrawals. Some casinos will likely look at the transactions a little differently, but you should have your funds in your account generally within a few business days.

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