The UK online casino industry has seen major shifts in payment preferences over the years. Once dominated by traditional debit and credit cards, the market has expanded to include a variety of digital wallets, prepaid cards, and mobile payments. Credit cards have been banned from gambling-related transactions, and solutions like PayPal have taken a big bite of the market share.
But what’s really changing? How are UK players choosing to deposit and withdraw their funds, and which payment methods are gaining ground? To better understand these shifts, we spoke with Joonas Karhu, co-founder of Bojoko, one of the UK’s leading iGaming comparison platforms. In this interview, he will share his insights on the evolving payment landscape, the rise of new banking options, and why specific payment solutions are becoming more important for players and operators alike.
How has the payment landscape in the UK iGaming industry changed in recent years?
It’s evolved massively. Not long ago, most online casino transactions in the UK were made using debit cards, credit cards, or bank transfers. If you went to an online casino a bit over a decade ago, there might just be five or fewer solutions available. You just did not have a lot of choice. Payments, especially withdrawals, were also generally really slow.
That’s not really the case anymore. If you don’t offer fast withdrawals, you fall behind, and e-wallets like PayPal, Trustly, Skrill, and Neteller offer practically instant solutions. We’ve seen particularly huge moves from PayPal and Trustly here. While Skrill and Neteller were associated with gambling, their fees were often high, and they lost a bit of steam, leading the giant that is PayPal to come in and make a major mark. However, in recent years, Trustly and several smaller e-wallets have started to make a dent as well. Trustly is one of the biggest solutions today, and have enjoyed a meteoric rise.
It is easy to see why. Players don’t want to wait days to access their winnings, so payment methods that offer instant or near-instant withdrawals have gained huge traction.
We have also seen an interest in ease of deposit, which has led to the explosion of pay-by-mobile solutions like Boku. These solutions let players deposit instantly and charge it to their phone bill. The maximum deposits are low, but it makes things easier.
We have also seen many smaller solutions carve out niches. One notable one that has been picking up is Monzo, a British online bank that allows easy transactions through its app. Convenience is big, but so are trust and security, and these factors have shaped British payment habits.
Are debit cards still relevant, or are they being phased out?
Debit cards are still widely used, but their dominance is slowly slipping. The UK Gambling Commission’s ban on credit card gambling in 2020 pushed many players toward debit cards, but now we’re gradually shifting toward faster alternatives.
One reason debit cards are losing their grip is withdrawal times. If you withdraw via Visa or Mastercard, you often have to wait 2-5 days, which just doesn’t cut it anymore for many players. Compare that to PayPal or Trustly, where withdrawals can be instant, and you can see why more players are switching.
That said, most UK operators still use debit cards, almost as a default option, simply because it’s what people are used to. However, if casinos want to stay ahead, they should focus on expanding their payment options.
What about bank transfers?
There are two types of bank transfers at casinos these days: the old bank transfers that can take days and are generally the slowest way to withdraw, and instant banking. The older form is likely thriving on familiarity and will slip away over time. The latter, on the other hand, has shown how banks can fight back.
Players expect instant or same-day cashouts, and many e-wallets and bank transfer solutions are now offering that. Open Banking solutions allow for secure, instant transfers without the hassle of card details. Even some of the newer UK banks, like Monzo and Revolut, are making a name for themselves in iGaming because of their ease of use and fast transactions.
How important are solutions like Revolut and Monzo at the moment?
Revolut has shot up in popularity and is widely accepted, in part because it also issues Visa. Revolut has everything covered and is an excellent and easy payment solution that players are familiar with.
Meanwhile, Monzo is definitely gaining traction, especially among younger players who prefer a mobile-first banking experience. Their market penetration has also seen drastic improvement. We track Monzo casinos, and the list is constantly expanding. Currently, over 30 British casinos accept deposits and withdrawals with Monzo.
We will likely continue to see more services of this kind, as the younger generations strongly prefer mobile-first banking solutions. Operators need to start adapting to these changes.
What about pay-by-mobile solutions? Are they just a niche, or are they here to stay?
They’re absolutely here to stay. The convenience is unmatched, especially for players who don’t want to enter their banking details. With solutions like Boku, players can deposit funds instantly and have the charge added to their phone bill or deducted from their prepaid balance. It’s just really easy and convenient.
We see a strong demand for this on Bojoko, with thousands upon thousands of monthly visitors landing on our pages dedicated to mobile payments. This is possibly the industry’s biggest change, as it is the payment solution that the largest number of Brits seem to be searching for.
The only downside? There are no withdrawals. Players still need to use another method to withdraw, like a bank transfer or e-wallet. They don’t seem to mind, though. I do wonder if these solutions would get an even bigger boost if they found a way to withdraw to your phone bill as well. It would be an inventive way to top up.
What trends do you see shaping the UK casino payment landscape in the next few years?
Two big trends are shaping the gambling landscape at the moment. The first we just talked about: It is the pay-by-mobile solutions. Will the popularity continue? It sure seems like it. I think more and more Brits will wake up to this and that Boku will also get more competition, leading to a very large payment spectrum that would have been unthinkable a decade ago.
Another big trend is the constant creation of new payment solutions, in particular e-wallets and solutions like Monzo. While some big solutions, like Visa and PayPal, won’t go anywhere, I think we’ll see more diversity and, with that, more competition in the payment space. Just as with the emergence of instant banking, solutions need to buckle up and impress, making it a great time to be a British casino lover.
- How to Know When an iGaming Platform Is Offering Value - October 6, 2025
- Punjab Kings vs Delhi Capitals Match Scorecard – IPL 2025 Highlights - September 24, 2025
- Chennai Super Kings vs Sunrisers Hyderabad Match Scorecard – IPL 2025 Highlights - September 24, 2025
