In Asia, mostly the South East of Asia, laws have forbidden citizens from being able to use their personal domestic bank account to open an online casino site. The problem then is that many of the online websites enforce laws in these countries by not accepting players from these countries. As opposed to the way the casinos in Europe or USA work whereby affiliates can earn money for signing up players, in South East Asia, the agents are the payment gateway.
This is breaking news from c9bets.com Malaysian online casino provider for most casino related websites in the West because of the way the system works in Asia.
Asian affiliates are in fact also the bank for the players. This means the website is the middleman or payment gateway between player and casino. Players cannot have money come out of their bank account into a casino, and likewise, there are no casinos that will accept payments from these countries because the banks and e-wallets that they deal with will not allow it.
However, if a separate company sets up a payment gateway, this gives citizens in their country a place to transfer money that is not associated with an online casino. In essence, there are no rules being broken here – or at least strictly speaking.
These companies are known as casino agents, but obviously, they are not set up for the authorities to know that this is what the business is for.
Usually, the business will have another front to it or it will be under the radar using bank accounts and deposits that are not detectable because the financial management team make sure payments are spread across many accounts. This means no computer system set up to detect this kind of activity will red flag the bank accounts.
The company itself will have a deal with the online casinos that it works with to pay money into their accounts. At the same time, the casino will already have given the casino agent multiple accounts that can be distributed to members of the casino agent’s website.
For this type of activity, the agents reap the rewards of affiliate commissions that can stretch from 50% of the casino’s profits all the way up to 80% in some cases.
It is not the safest way to gamble online because all the trust is being put into the hands of the casino agent. That includes when a player wins a huge jackpot – let’s say a million-dollar progressive jackpot. The agent will also have to handle the pay-out. Usually, in these cases the casino will also be involved with transactions that are of a substantial value and to make sure the agent does not run off with the cash or this would create a lot of bad publicity for the casino itself.
In the end, it is still risky business allowing a third-party website to take control of all your casino finances. However, there are some protection measures in place for players set by the casino. Plus, rogue agents will often get found out and lose their reputation fast meaning no one will use that website again. With the large affiliate commissions already being paid, and Asian’s love for gambling, it would seem quite pointless running away with customer’s money.