Payment methods are constantly evolving worldwide, allowing people to manage transactions more effectively and conveniently. E-wallets have become quite common in Australia as there is a wide diversity of services available, such as SticPay.
SticPay is a popular e-wallet in the igaming industry. SticPay is often used to deposit and withdraw funds from online casinos. If you visit their Trustpilot profile, you’ll see that they have an overall mixed-to-average reputation. In fact, this platform seems to have a key role in the frequency of unlicensed casinos. But what is the correlation between this payment system and unregulated casinos?
Let’s explore together with John Gold and his team from Betpokies what SticPay is and how it relates to unregulated gambling practices on the web.
What is SticPay?
SticPay is a payment system that allows you to manage funds instantly regardless of where you are. This platform makes it very convenient to deposit and withdraw money from the casino sites that accept it.
Any Aussie can create a SticPay account. Once your profile has been verified, you can start depositing funds and transferring money to any other SticPay profile that may exist within the system. Still, despite offering such a convenient platform, there are certain aspects you should consider before utilizing it to avoid potential problems in the long run.
While anyone can create a SticPay account, it’s not possible to count on the local payout service everywhere. You may only utilize this feature if you are from the following areas:
- Hong Kong
- New Zealand
Most e-wallets have quite mixed to average reviews. It’s almost impossible to find a service with a clean reputation, as problems always occur when it comes to money. However, as for SticPay, it has proven to be a reliable service. Most Australian customers seem to have had a satisfying experience with it, but that may not be the case for everyone.
Some people report having their accounts blocked without an apparent reason, funds that never are reflected on their accounts, among many other problems.
Unregulated Online Casinos and SticPay: What is the Correlation?
Unregulated casinos have always existed, and they will continue to exist. While there are many reasons for these platforms to exist, SticPay’s way of functioning may contribute to these casinos’ creation.
Some of the reasons associated with SticPay’s role in the propagation of unregulated online casinos include the following:
- Ease of use
- Low fees
- Quick payments
Unregulated casinos may use these factors to offer Aussies big bonuses or suspiciously attractive prices to get punters to sign up. However, once you’ve made your first deposit and started playing, you may find out that the casino has unreasonable wagering requirements, making it practically impossible for you to reclaim your rewards.
Since the transaction you’re making is apparently valid in the eyes of SticPay or any other e-wallet, it can be complicated for you to get your funds back.
Why Playing in an Unregulated Casino May Be a Bad Idea
While you can play at an unregulated casino, be aware that there are some risks implied. You may not be able to access your funds due to unreasonable terms, the casino may close overnight, or your information could be at risk.
- Unregulated casinos have very tough wagering requirements and minimum payouts. These platforms will make it impossible for you to access your funds outside the site.
- There is no transparency, which may leave you vulnerable to unfair gaming practices. For instance, the games may be programmed to deliver bad outcomes more frequently instead of providing equal opportunities to win for everyone.
- Since the casino does not possess a license, you will not be able to make a complaint at a regulatory institution. In fact, you may get in trouble as offshore gambling may be illegal in Australia.
Hence, even if that casino offers such an attractive bonus if you sign up using SticPay, it would be best if you took into account a different option to avoid becoming a victim of a scam.
The Bottom Line
SticPay does not have a direct relationship with any of the casinos that accept it as a form of payment. Such platforms are different websites and systems from what SticPay offers, which means that this e-wallet is not responsible for the practices of these casinos.
However, those operators may still find ways to take advantage of such flexible rules.
We highly recommend you be aware of the potential red flags the website could have to avoid having an unpleasant experience while gambling on that particular platform.
Gambling addiction can swiftly transition from a harmless pastime to a destructive habit, eroding mental health, finances, and personal relationships. It’s crucial to recognize and intervene early, as unchecked, it can lead to life-altering severe consequences; for assistance in Australia, you can reach out to the Gambling Helpline at 1800 858 858.