There are several Reasons for UK casinos to not accept PayPal anymore and some have recently realised that.
I won't post them here being a public forum but some have been mentioned on here in various threads.
Thanks for these comments Reelsoffun, Mark_Lottomart, L&L-Jan, and everyone else.
When I accept payments in my existing music business, I must say when Paypal is used, Paypal fees can be really high - you can end up spending over a £1 on Paypal fees, for even small transactions (music business is a lot of mainly small transactions). I much prefer bank transfers for that reason, which have improved as a payment option since 'Faster Payments' became more mainstream, much better really than 2-day BACS.
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What's happening with the launch of Better Value Casino? Very exciting to be working on this, it has however taken nearly a year longer than I had thought to work on getting everything ready. During the last month I have spent several hours on videocalls, talking to payment system providers, a slot games producer, fundraising agents. I pitched for iGB Live pitching competition, but we didn't make the shortlist! No prob though..
I am aware that the UK is a difficult market currently, with issues such as the intrusivity (if that's a word!) of Source of Wealth requests (wish to avoid those to as much as an extent as possible! We will of course abide by all UKGC rules). Gaming duty is high, but that is not a reason to reduce RTP's on slot games - Gaming duty is on Gross Gaming Revenue not turnover. We're no longer going to get a Curacao license, although I understand the situation with Curacao may have improved recently a bit, but it doesn't sound quite 100% stable enough. We've been advised to get an Anjouran license, as well as a UKGC license.
So what am I doing now? We've scaled up a lot the music business, because in my case, I do not have an excellent business track record up 'til this point. Too much spent on gambling! (I'm now personally registered for FIVE years on GAMSTOP which I renewed). However, I'm advised that decent profitability and sound business skills can be demonstrated in a short period of time, when done correctly, so I'm spending a lot of time on our music business this month of August with some part-time staff, really trying to get as much turnover as possible! We also have an ink and toner supply business and the same aim for rapid expansion is important there too. Then, it becomes far easier to sell (millions of pounds of) bonds and some company equity which I am concurrently working on. I will be getting up at 3.30am in the morning for one of the fundraising calls at 4am UK time to speak to a company in Singapore amongst other possible investors. I sincerely wish to launch this year 2024, Christmas time or before.
I'm happy to post more if any posts require answering, this is a really good forum, very intelligent interactions. Or if not, again I will endeavour to complete the setup and post back when we're ready to launch. Speaking to gamblers here has been very useful, originally for example we were going to launch with only live European roulette, but creating some decent slots will be important too as there is a greater number of people playing slots than roulette generally, although we're hoping that our roulettes will be our "flagship" service offering.
I'm aware that there are many sites with hundreds of slot games on offer, some with thousands. We cannot do that logistical and valid cost reasons, we will launch with just Live European roulette and 3 slots! Our slots do not have the best graphics (they're not rubbish graphics though!), but there is excitement to be generated from player's winning money, not just from "flashing lights/animations". All our slots run with the same RTP's (we need to send our slots to RTP testing house when they're ready), I won't reveal right now what that percentage is, but I'm hoping that players will really like what we're planning, after the frustation of so many slots going down in respect of RTP. We hope to have at least 5 slots available after 6 months, including "Belief in the Gods", and "Ultra Cash Machine". We have a mini jackpot on the slots, "true random" - so you won't see screen jumps or revolving wheel animation glitches, £500 mini jackpot with multi-repeat chance.
Until the end of this month, I'm also working hard on my music, ink and toner, and artificial intelligence businesses, then next month it's all casino work (aim to complete fundraising by the end of September) as the other businesses have their own staff to manage them from September onwards.
As I said I am now registered for GAMSTOP for 5 years. My initial 1 year GAMSTOP came to an end, and I had restarted gambling, which didn't go well!
I found the RTP's I was experiencing were too low and I couldn't afford the money volatility. I did some betting as well as online, at Coral betting shops on the FOBT machines. With the £2 maximum stake, I was frequently tempted to use the "pre-bet spinner" (which when won enables the roulette player to place a higher stake on a single bet - eg a tenner would theoretically be placable once every 5 pre-bet spins mean average). Huge bias in the house's favour though, I found at the Corals (particularly at my local one). The pre-bet would start usually with a semi-generous bias towards the player, then later on, it would go dead, pre-bet spin after pre-bet spin just taking the money, nothing in exchange!.. I don't think it's fair, I think there is something amiss with the mathematical seeding being used to generate the supposedly fair random outcomes on the pre-bet spinner!
False euphoria can arise in a situation where lots of money is won, even if it clears into the bank account, if then the money is all lost the next day, then the player never really had the (benefit of) the winning money in the first place. We're brainstorming ideas at the moment to make such a situation avoidable. I love people winning money.
A long time coming, but setting this up correctly, so all being well look out / listen out for our major advertising campaign which I hope will happen in December (Everything but TV for the first campaign). Thanks for reading my long post, and cheers for all the tips, encouragement, opinions, and advice!
