The first online casino launched in 1996. A lot has changed since those early Internet casino days. The online casino industry has matured. The first pay and play online casino (or quick casino) launched 2016. Pay and play casinos are regulated and licensed by governments and audited by specialist firms to ensure they deliver fair and transparent entertainment to their players.
Pay and Play Casinos
These are also known as quick casinos (or quick online casinos), express casinos, instant casinos, and online casinos without registration. Player details and identification requirements are linked to their registered bank account — this can take care of regulatory details such as know your customer (KYC), anti-money laundering (AML), source of funds, etc. Linking to players’ registered bank accounts both ensures instant registration and also fast payouts.
These allow for players to move easily between online casino operators. This, arguably, is one of the biggest strengths of online — if a player is not happy with a service from an online casino operator, that player can cash out immediately from one quick casino and switch immediately to another quick casino. This creates what an economist would term a ‘near-perfect market’, because there are no switching barriers for players.
Having no switching barriers for players means customer service constantly improves as pressure from both the market and competitors drives up innovation and service levels. Quick casinos create a win-win outcome as players win, and also the industry wins.
When players decide to cash out at pay and play casinos, cash withdrawals can be almost immediate…just the same as deposits. This makes for a more balanced relationship between players and the online casino operator. With traditional online casinos, if a player wants to withdraw their winnings, it can take them days to be paid what they are owed. With an instant play casino, payouts are fast — some quick casinos make really fast payouts in as little as 5-20 minutes.
A Balanced View
Not everything is better if one compares pay ’n’ play casinos with traditional online casinos. Oftentimes there are no welcome bonuses for sign-up or other promotions. However, if a player looks at the small print surrounding the offers and promotions from traditional online casinos, bonuses and promotions are often difficult to redeem. So the fact that these instant casinos do not offer promotions might actually be a ‘good limitation’.
Please remember to gamble safely and responsibly when you use pay and play casinos.