LeoVegas Begins Accepting Swish Payments

Cyber betting group LeoVegas announced this week that they've begun accepting payments through Swish, which serves as a rapid payment processor within Sweden.

More than 6.7 million people in Sweden use Swish, and the liberalization of the online gaming market provides an ample opportunity to use the service. Those interested in using Swish simply have to link their mobile phone number to a bank account, and can therefore get money fast while complying with identification laws. For LeoVegas, the chance to offer faster payouts with lower transaction costs is appealing.

Speaking about the agreement LeoVegas CEO Gustaf Hagman said, "The fact that 63% of all Swedes use Swish every week shows how popular Swish is, and it is therefore extra exciting that LeoVegas is now offering the favourite way of making payments in Sweden. Our teams have worked intensively to be able to launch immediately after the turn of the year."

Swish can be used now but you'll have to be in-country to utilize the service.

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bgsharpe
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8 January 2019 - 7:23pm
#1
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For LeoVegas, the chance to offer faster payouts with lower transaction costs is appealing.

Isn't that the whole point after all...I mean not only for the casino but fast and convenient way for the players of making their transactions.
I hope this is the future of online gambling banking, it looks to be simpler,safer, faster, cheaper.

usbarbadosslim93 Recently online: 39 min ago
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8 January 2019 - 7:32pm
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I like the different methods like this that tie to your bank account and process instantly while not having you submit ID documents. I agree, sharpe. This is the future (at least I hope it is).

sharpe

cyVanilipas
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8 January 2019 - 10:01pm
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I thought this swish is something interesting and here just special banking method. I dont find it very wise to deposit with bank account because if you win much you need to pay taxes later. I am not of these guys who accepts taxes hiding but i accept hiding won money. So i dont find that swish as a future.

bgsharpe
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11 January 2019 - 3:05pm
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Vanilipas wrote:

I thought this swish is something interesting and here just special banking method. I dont find it very wise to deposit with bank account because if you win much you need to pay taxes later. I am not of these guys who accepts taxes hiding but i accept hiding won money. So i dont find that swish as a future.

I'm not sure whether tax paying would depend at all of the winnings going directly to your bank account or firstly goes through third parties E-wallets or Visa cards which just make it a slower process and a more expensive one I think.
In the end if you withdraw your winnings to Skrill for example those funds would still end up to your bank account and you'll still have to pay your taxes right?
If there's any in your country of residence of course.
So from that perspective I think a direct payments between your bank and the gambling operator you've had choose to play at would make the payments faster (hopefully instant in both directions) and also cheaper as for the punters as well for the operators themselves.

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