A Look in Boku Casinos & How it Works
It is certainly fair to say that in its short period of existence, boku has revolutionised making deposits at mobile casinos. It has created a whole new way of making payments. This is because when you use boku to make your deposit, you are not using your bank account, debit card or even your credit card. Instead your mobile phone service provider is stumping up the funds. It’s called direct carrier billing.
Let me explain. Boku is a method of payment which is completed solely using your smartphone. When you go to make a deposit at a boku casino site, all you need to do is tap on the boku button or icon. Then just supply your mobile phone number, authorise the deposit. You will then receive a text message asking you to authenticate the payment. This is a necessary security measure – otherwise anyone who knows your number could try to pay for stuff on your account! Just reply ‘Y’ to this text (it’s free to do this) and that’s it. Your payment is then simply added to your mobile service provider’s regular monthly bill.
What’s more, you don’t even need to have a mobile account to use a boku casino. Pay As You Go customers can also use the service. In this case, your payment is deducted from your remaining call credit instead. In fact, because payments are authorised with just a text, you don’t even need a smartphone to make payments. Even an old school Nokia 3310 could do the job. Good luck with playing roulette with that though!
It really can be the most convenient way to pay if you are out and about, shopping on the go on your phone. It is so simple. There is no need to fumble around looking for your credit card or debit card in your handbag or wallet. No need to try to input all those numbers on your phone while holding your plastic in the other hand. No possibility of passers-by overlooking as you tap in all your precious financial details. And no possibility of your personal banking data being hacked on insecure public Wi-Fi networks. The only information which can possibly be given away is your mobile number – and we need to make that widely available in any case.
All boku casinos impose a limit on the amount you can spend using this method – usually around £30 per day. So boku is often best for smaller value purchases. Some casino also charge a proportion of your payment as a fee. This fee can actually be very high in relation to the amount you are depositing. As such you should always check the fee amount as it could mean that boku is not the deposit method for you. Nevertheless, using boku to make payments with your smartphone is swift, safe, secure and very convenient.
Today, there are more and more different ways to make a despot at a casino, both in the real world and online. But boku Pay by Phone payments truly are a different way to pay. If only there were more and more ways to earn the money to pay the bills!
The major downside to using boku casinos is that this is only a method for depositing funds and not withdrawing. At the moment there is no facility to withdraw any of your winnings back to your mobile phone account. If you do chose to deposit via boku you will need a debit card or e-wallet account to withdraw any winnings you may have. This is enough to put many people off from using a boku casino. It is also worth nothing that the facility is not open to all networks. When you go to make that first deposit you will be advised if your network allows deposits via Boku.
The History of Boku and its Development
The history of the company is a familiar story, often replicated whenever new and revolutionary ideas are thought up. Everyone thinks it’s a great idea, but finding someone to invest in turning the dream into reality is very often the hardest part. The people and company behind the original idea were British. The original company was called Vidicom Ltd, which was founded in 2003 in Chesterfield in Derbyshire in the United Kingdom.
But finding the investment to bring their “Mobilcash” idea to market was very tough: so tough that the founders had to cross the Atlantic and the American continent to find the necessary funds. Salvation was found in Silicon Valley, California, where venture capitalists saw the potential of the idea and stumped up the necessary capital.
Vidicom then re-incorporated itself as Boku Inc. in Delaware in the United States in 2009. It used its fresh injection of around $13 million to launch its new boku service in the US the same year. Further influxes of major investment capital over the succeeding years enabled the company and service to grow throughout the continent.
A final $14 million of investment from UK investors in 2016 saw the company finally go global. It was at this point that the service finally arrived back in its homeland in the UK.
In total, over the decade or so of its existence, the company has required a total investment of close to $100 million to achieve its global status. But in November 2017 it finally arrived home (sort of) with its launch on the London Stock Exchange’s Alternative Investment Market (AIM). The total sale of shares valued the company at around £125 million. In the same year, the service also passed $1 billion in total payments in a single year for the first time. Actual revenues for that year were over $24 million, an increase of around 40% on the previous year. Profits from this income will certainly go some way to repaying all those years of investment.
The price of all this financial investment certainly does appear to have been worth paying. Today, boku is available in over fifty countries across the globe, with close to 200 different mobile phone providers signed up to the service. In fact, it is available on every continent in the world apart from Antarctica. It now has offices in London (UK), San Francisco (US), Singapore Asia) and numerous other countries such as Germany, Brazil, India, China and Japan.
So it is certainly the case that the faith of its many investors has been repaid. boku’s Pay by Phone service is now widely available throughout the world and continues to expand its reach to this day. It is most definitely a particularly convenient way to make payments online with your mobile and with a total potential market of over 3 billion mobile phone users in its operating markets across the globe, there is plenty of opportunity for further development yet.