The gambling industry is often condemned as unethical. The industry, like any other, has its negatives. However, this presumption makes it challenging for most of us to see the innovation process from various aspects as well as creative marketing strategies the industry comes up with on an ongoing basis.
One of the most recent innovations is no account casinos where players are able to place bets and win without registering and creating an account. Although it may seem little, this has changed the industry to the better. Some countries such as Finland have been one of the leaders in accepting and embracing casinos without registering whereas many countries still view it as something absurd.
This case study discusses how casinos accepted customers without registration. Although these online casinos are available in other countries, this case study showcases examples from the perspective of Finnish gambling market. Other Nordic countries have adapted to no account casinos, so the case is not unique to Finland. For instance, Sweden has a similar system where Swedish nationals may log in to a casino with their special ID code called Bank ID.
Identification process and gambling laws
Regardless of the country or the gambling license, there has always been a requirement to register to the casino. At brick and mortar casinos it is essential to fill a registration form when entering the casino for the first time. At the same time, the ID card or passport is asked and scanned. Similar process happens at online casinos where new players fill in a registration form and accept it. However, as no scanning can be done at the online casino, the process has had to be done manually. What it has meant for casino players is that they have had to send pictures of their ID card or passport to the casino among other documents such as utility bills and bank statements. Needless to say, this process is very cumbersome, stressful and time consuming.
Fintech companies at the core of change
One may consider what changed so that all this could happen. The solution to the problematic handling of documents came from fintech companies. The pioneer in an online gambling environment is Trustly which is a Swedish fintech company offering money transferring services within minutes. When online casinos seized the opportunity, the solution was found. Why so? Trustly operates with online banking services. It has all Finnish online banks available so any Finn with online bank IDs could just log in to their bank and place a deposit. At the same time Trustly would transfer essential information to the online casino required for identification processes. The withdrawal works in a similar manner. The player logs in to the online casino by utilizing online bank IDs and requests a withdrawal. Using Trustly and Zimpler as a withdrawal method, it also means fast withdrawals which is nopeat kotiutukset in Finnish.
For a long time only Trustly had the technology and market position to offer such services due to which most casinos without registering utilize it. However, as the market is attractive, some competition is emerging. Also coming from Sweden, the most promising competitor to Trustly is Zimpler.
The advantages and disadvantages of accepting customers without registration
As it seems that accepting customers without registration is only pure joy, one must address two negative aspects. First and foremost, not everyone is able to have an online bank account. Although most Finns have it, some do not utilize or are allowed to utilize online banking services for various reasons. Thus, limiting the casino only for those who have the ID may be restrictive. Furthermore, some may consider less marketing as a negative issue. As marketing professionals at online casinos might have less information about the players, the offers may not always be as targeted. No account casinos have, however, become better at finding alternative ways to create more targeted offers so this issue is likely to disappear in near future.
Casinos without registering in 2021
The near future regarding casinos without registering seems to be bright. In a global setting the change is slow and not many countries are yet going to choose this path as it requires certainty from both banks, fintech companies as well as the casinos themselves. Nothing happens without an effort and teaching another market to shift from a traditional way of doing things towards a very modern approach always requires time. In Finland, however, the trend is likely to become more popular. Some would argue that it may even be the new normal regarding online casinos for Finns. Many old and traditional online casinos are adding the option to not to register and still play at their casino. This is due to the fierce competition within the industry - there are only so many that play.