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STICPAY in Singaporean Casinos
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Singaporean online casino players may not have a legal online gambling scene, but that doesn’t mean that they aren’t frequenting online casinos; and across most sites that cater to players from the country, STICPAY is one of their favorite payment methods. Not only is it a global eWallet that can be used for transactions to and from casinos based anywhere in the world, but to Singaporean players, it offers a splendid local payout service. As if that wasn’t enough, the solution allows players from the country to make deposits and withdrawals in Singaporean dollars and many other fiat and digital currencies, therefore, it is one of the top choices to use. If interested in knowing more about it, make sure you continue reading as we’ll share with you all we know about it. What is STICPAY and why use it across Singaporean-catering online casinos?
Online Gambling Regulation in Singapore
The history of gambling in Singapore has had its ups and downs. When the country was under British rule, the industry was banned, but when it gained its independence, it legalized some forms of land-based gambling. But even before the legalization of some forms in 1963, it was a known fact that players were gambling illegally, so basically the country had to introduce proper regulations to keep them safe from gambling harm. In 2004, Singapore finally legalized all forms of land-based gambling, including casino gambling, and with that, it gave players permission to frequent the lavish casino establishments that opened their doors all across the country.
The Casino Regulatory Authority and the National Council for Problem Gambling were put in charge of making sure the industry went smoothly and proper player protection was in place. The two regulatory bodies make sure, to this day, that the land-based gambling industry is as safe as it gets, and operators are sticking to the rules and laws, while players enjoy a secure gambling environment. But things got complicated for the regulators once online gambling took the scene.
More and more Singaporean players were turning to online casinos instead of brick-and-mortar ones, and this made it difficult for the regulators to have control over the activities. The Singaporean government reviewed regulations as it was put into a position where it had to decide whether to give online gambling a chance or not. Finally, in 2014, the country decided to ban online gambling and only give players the option to engage in online lotteries provided by state-controlled companies.
What’s more, the country introduced hefty fines for those who tried to engage in online gambling or offered illegal online gambling to players. The former would receive fines of up to $5,000 or even jail time of up to 6 months, while the latter fines of up to $50,000 and jail time of up to 7 years. Plus, the government ordered an IP blocking of all offshore online gambling sites that did not stop targeting Singaporean players.
Nevertheless, it seems like all of that was in vain, as Singaporean players continue frequenting international online casino sites. Whether through VPNs or some other tools to go over the blockades, they continue accessing leading online casino sites that offer some of the best games on the market. They greatly enjoy Live Dealer games, award-winning slots, online poker, and other game types, delivered by top-notch software developers like Playtech, NetEnt, Evolution, and Relax Gaming. And they even get access to some of the top global payment methods to enjoy seamless online casino transactions.
Lately, a solution that has certainly got Singaporean players’ attention is the global digital wallet STICPAY. This digital wallet is especially useful for Singaporean users as it allows them to use a local payout service, available in several countries only. It is also appreciated by Singaporean online casino players because it allows them to use their native currency, the Singaporean dollar, and many other fiat and digital currencies. There are many other perks that you could certainly enjoy as a Singaporean, so make sure you continue reading to find out all about them in the next section.
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Using STICPAY Across Singaporean Online Casinos
Founded in 2017, STICPAY is a digital wallet solution designed by a UK-based FinTech company. After a year of mastering it, the company put it live and started allowing users and businesses to make seamless transactions with it to and from anywhere in the world. Transactions with it are processed in multiple fiat and digital currencies, with unparalleled speed, and that's why the solution received instant recognition from users across the world. In 2023, it won the FinTech Awards for Best Global eWallet Service Provider, further cementing its position as a top digital wallet.
With it, transfers clear in just a couple of minutes, which is unrivaled speed, given the fact that with similar services, the process takes up to three days. Add to that the fact that it is also one of the most cost-efficient solutions for international transfers, and there you have it, the perfect solution to use as a Singaporean player across international online casino sites. But, as mentioned, as a Singaporean player, you will also greatly appreciate the fact that it allows you to use the local payout service, offered in Singapore and several other countries. Malaysia, Australia, Indonesia, China, the Philippines, and Japan are the other countries, where users can both send and receive money in the local currency in a few minutes, with the most affordable transfer fees.
As if that wasn’t enough, the solution rolled out a prepaid card product that can be used alongside the eWallet account. And with this card, you can even cash out your winnings at any local ATM! And in 2024, STICPAY launched a service that allows card payments, so you can even use your winnings for all kinds of online transactions! But we go into that, you must first know how to get started with the solution in the first place. Since it is an eWallet, as expected, you'd need to register an account with it. Go to its official website and press the Sign-Up button, and then fill out the form using personal details like nationality, full name, email, and date of birth. Create a password and then choose the currency you'd want to use, either the Singaporean dollar or any other available, and proceed with the funding process.
To fund the account, actually, you can use standard bank-issued cards like MasterCard and VISA, the top cryptocurrencies, and local bank wires, among other options. If you have at least $110 on the account, you are immediately eligible to apply for the previously-mentioned card. You will need to then attach a government-issued ID document to prove your identity, and with that, you will be ready to start using your eWallet account and card for online casino deposits and withdrawals. Follow our lead as in the following section, we’ll tell you how to go through these procedures across Singaporean online casinos.
Deposits and Withdrawals with STICPAY
Seeing how effortless it is to get started with, it should come as no shock to learn that STICPAY will be as effortless to use across online casinos that accept Singaporean players. You just have to find several sites that offer it, and cater to Singaporean players, of course, and decide on the one to join.
Register a player account with your chosen casino, by providing the necessary personal details again, and you’ll be ready to make your first deposit with STICPAY. Just follow these simple steps:
- Access your registered player account and head over to the Banking page.
- Search for the Deposits section and on it, find STICPAY’s logo and press it.
- Choose whether you’ll use the eWallet account or the prepaid card to proceed.
- Use your credentials to enter the eWallet account or enter the required card details, respectively.
- Set the amount you wish to deposit and confirm the transaction.
- The funds will reach your casino balance instantly, no matter whether you used the account or the card.
Withdrawals with the solution are as easy; you just have to follow the same steps basically, making a few changes along the way. This time, of course, only the eWallet account will be an option, so you just need to select the solution from the Withdrawals section and enter your credentials before you set the amount you wish to cash out. The casino will need to approve the request, so as soon as that happens, the funds will immediately be sent to your eWallet account, from where you can instantly transfer them to the card and spend them or cash them out at any ATM.
Conclusion
STICPAY may be the most perfect payment solution to use as a Singaporean player across international online casinos, as it allows you to make both deposits and withdrawals in your native currency and other fiat and digital currencies. It processes transactions in a few minutes and it gives you two products to use, an eWallet and a card. Therefore, make sure you consider trying it, to enjoy all the perks it offers.
FAQs
Is online gambling legal in Singapore?
No, online gambling is not legal in Singapore. In fact, it is banned and the authorities are doing everything in their power to stop illegal gambling. Yet, players from the country continue finding ways to access international online casino sites.
Are there any records of Singaporean players getting in trouble with the law for gambling online?
While we couldn't find any records, it is certain that the government has introduced these fines for both players who engage in online gambling and operators that offer online gambling to Singaporean players. You should not take them lightly, as for players, fines go up to $5,000 or up to 6 months of jail time.
Is STICPAY a payment option across many online casinos that cater to Singaporean players?
Even though a fairly newer global eWallet compared to others that have been around for decades, STICPAY has managed to get on the list of accepted methods across a great number of international online casinos that cater to Singaporean players. If you are worried about the choice of sites at your disposal, don't be, as you will certainly come across many top sites that accept it and give access to Singaporean players.
Which are some of the cryptocurrencies I could use via STICPAY?
At the moment of writing, three cryptocurrencies are supported by the eWallet, Bitcoin, Litecoin, and Ethereum. Whether that would change in the future, and whether others will be added to the list, remains to be seen.
Can I cancel a deposit I made with STICPAY?
You can only cancel the deposit you made with STICPAY if you haven’t confirmed it yet. Considering its nature and the fact that it supports cryptocurrency transactions, all transactions are irreversible and final, so before you confirm them, make sure you double-check whether the data you’ve entered is correct and whether you’re ready to make the transaction.