Boku Casinos NZ
Boku is a unique payment processor in New Zealand that is best known for its unique “direct operator billing” method, also known as “charge to bill”. Simply put, this payment method allows you to place any charges to your phone bill rather than a traditional payment method like a bank card or e-wallet. And on this page, we will show you all of its ins and outs to help determine if it is a viable option for your online casino transactions.
What is Boku?
The company that is now known as Boku was originally named Vidicom, which was founded in the UK in 2003 before being renamed Boku in 2012. Since its humble beginnings, the firm has been supported by a large number of investors, from which the firm was able to extend its services to New Zealand, the United States, and other regions. Boku would also later purchase Mobilcash and Paymo to further expand their reach.
Boku collected more than $25 million USD less than a year after its US debut as a consequence of its investment-based business strategy. In 2012, another $35 million was contributed, and in 2016, $13.75 million was added. As of this writing, more than $90 million has been invested in the company. Other investors in this industry include Benchmark Capital and Index Ventures, as well as New Enterprise Associates, Telefónica, and GMO Payment Gateway.
With a market capitalization of $125 million, Boku went public on the London Stock Exchange (AIM) in 2017, supported by a wave of high-profile investors. AIM was chosen over the New York Stock Exchange because of the company’s location in San Francisco (NYSE). The sheer breadth of the US stock market may make it difficult for smaller, fast-growing startups like Boku to gain the attention of major financial institutions.
Boku and the Gaming Industry
Virtual goods and social gaming platforms like Playdom, Playfish, and Zynga were and remain the core emphasis of the corporation. However, Boku had higher aims. Seeing the mobile phone user segment, which contained over 5 billion users, the company saw a massive market that was waiting to be served for gaming transactions.
There is no surprise that more than 170 carriers throughout the world and in 50 markets have partnered with Boku’s unique selling proposition. Music streaming, digital subscriptions, app stores, free-to-play games, and more recently online casino gambling are the most common types of transactions for Boku today. Just a few of the names that Boku has partnered with include Apple, Google Play, Spotify, Playstation, IGG, Tencent, and Electronic Arts. They would even acquire one of India’s largest cellular service carriers, Qubecell, in 2013.
How to Use Boku at Online Casinos
Boku is one of the easiest and most simple ways to fund an online casino account. A short look at how it works with the majority of iGaming websites follows below.
To begin, check with your carrier to see if Boku is available. Customers of O2, EE, Vodafone, or Three can make use of the feature. Boku is accepted as a method of payment at most casinos.
At most online casinos, the minimum first deposit is usually $20 or less, although subsequent deposits may not have that requirement. After signing up for a Boku account, you may go ahead and designate Boku as your primary service provider. The company’s symbol can be seen in the payment suite of the operator.
There is a service deposit screen when you pick Boku, where you may choose and confirm the amount of your deposit. After that, you’ll get an SMS asking you to confirm your purchase. A confirmation message will be sent to your cell phone when the verification process is complete. You may then return to the online casino and make use of your freshly deposited cash when they have been automatically added to your account.
However, there are a few limitations you need to be aware of. For one, Boku has a daily transaction limit of about $60 dollars, which is quite limiting for Kiwi players who want to play with more substantial bankrolls. Some online casinos in New Zealand might also not honour welcome bonuses from deposits made through Boku, so that is something worth keeping in mind.
Unfortunately, Boku does not allow you to withdraw money. Again, this makes sense, as crediting your phone bill is not exactly a feasible way to cash in your winnings. Having to keep track of multiple payment methods for deposits and withdrawals may be too much for some clients; but generally speaking, more options are always better for the player.
Should You Use Boku?
Many casinos presently do not accept Boku as a form of payment, although this is expected to change in the near future. Some people will find Boku appealing because of its convenience and simplicity, as well as the built-in financial management it provides. Because the cellphone carriers validate each charge, transactions processed through Boku are actually quite safe. There has also been an increase in the number of people seeking for Boku online casinos.