Boku is a company that provides mobile payment services for both individuals and businesses. Headquartered in San Francisco, California, the company uses cellular operator data to connect users to its payment service. Thus, it makes it possible for users to make online payments with just their phones without any information about credit cards or bank accounts.
Although not as popular with gamblers as other payment options, Boku still shows its place in the online gambling market, with more than 220 mobile payment methods available in more than 70 countries globally.
According to newly updated data for 2020, Boku has processed over a billion transactions in its system, with a total payment volume estimated at $7 billion. With millions of users already using the service and the potential to scale the business, this payment option could grow even stronger in the future and become a favorite payment choice at online betting sites.
Boku Development History
Back in 2009, the three founders of Boku, Mark Britto, Erich Ringewald, and Ron Hirson, contributed capital to acquire Mobillcash and Paymo, two potential UK mobile payment service providers at that time, and launched Boku Checkout.
The original idea of the company was very bold and simple. They claim that the phone number is the simplest and most effective payment method in the world. As a result, the company developed a system that allows customers to include online payments in their phone bills or prepaid credit just by entering their phone numbers.
This brilliant idea quickly caught the attention of investors and helped Boku benefit in many ways. From 2010 to 2016, the company raised a total of more than $90 million in venture capital from venture capitalists, with big names like Benchmark Capital, Index Ventures, and DAG Ventures.
The company's expansion is also reflected in the technology aspect. In 2013, Boku announced the acquisition of Qubecell, a leading Indian service provider, to make the country their technology and engineering hub. The partnership also enables the company to forge a successful business relationship with Playstation, making it possible for players to purchase games and movies directly from their Playstation device simply by providing a phone number.
From 2014 to 2020, Boku, in turn, acquired Mopay, a German-based carrier payment service provider; Mobileview, a mobile operator from Italy; Danal, a company providing services mobile authentication services to improve user security; and Fortumo, its direct competitor in the online payment market.
By 2017, Boku had officially equitized itself on the London Stock Exchange. This IPO valued the company at around £125 million.
After many years of trying to stand out in the online payment market, Boku's efforts have been recognized with many valuable awards from reputable organizations. These include the Mobility Awards in 2011, the 'Best Alternative Payment 2014' award, and the Future Digital Award in 2020. Besides, Boku was also voted into the Forbes 25 Most Promising US Companies list for 2011 and 2013.
Benefits Of Boku As A Betting Payment Method
Using Boku as a payment method at online betting sites offers many clear benefits for players. We will mention the most outstanding strengths of this option for your reference.
Ease of Use and Accessibility
If you want to use Boku to make payments, simply enter your phone number into the system and confirm the transaction via SMS. This whole process will finish in just about 60 seconds, making this option extremely convenient for paying fees online. Therefore, Boku is available to anyone who owns a mobile phone.
Grant Absolute Security and Safety
In theory, this payment option does not require any bank account or personal user data. Therefore, there is no risk of exposing this information when players use Boku to make payments.
In addition, Boku uses a combination of three mobile identification solutions, namely Boku Authenticate, Match, and Detect, to secure user transactions. Therefore, you don't need to worry about someone stealing your phone number to pay through Boku.
Free Payouts
This aspect is of great interest to betting site players. Specifically, they will not take any additional fees to deposit funds to any betting site that accepts this
Drawbacks Of Boku As A Betting Payment Method
Besides the benefits of safety and convenience in processing transactions, Boku still has significant disadvantages that we think players should consider if they intend to use it at betting sites.
Deposit Limit
When using Boku, players cannot spend as much as they want. Specifically, Boku imposes a maximum transaction amount for new users of $30 per day. Therefore, you cannot make any more transactions once you have reached your limit. That can be detrimental to high-rollers, and if you're in this group, you should look for an alternative such as Skrill or Neteller.
On the bright side, this is not entirely a drawback. The fact that Boku limits the maximum deposit per transaction will help many players have better control of their finances and help them not spend too much money on gambling.
Can’t Withdraw Money at Betting Sites
That's right. Boku users can only deposit at online betting sites, as this option is not supported in reverse. So, if you used Boku to deposit, you are forced to choose another method to withdraw your winnings. There we highly recommend you can the betting sites that offer both suitable deposit methods and payment methods for your gambling preference.
No Age Verification Required
Those interested in responsible gambling will be displeased about this. Boku doesn't require users to prove they're 18 years old to make transactions; instead, they just need to provide a phone number. As a result, underage gamblers may face gambling problems when using this payment option.
How to Use Boku in Online Betting Sites
Using Boku in online betting sites is not much different from other payment transactions.
First, you need to go to your favorite betting sites, go to the 'Banking/Cashier,' page, and select Boku as your preferred deposit method.
Next, you need to select the amount you want to send and follow the on-screen instructions.
Finally, the system will send an SMS to your phone, and you need to confirm it to complete the transaction.
As mentioned above, this method requires no transaction fees, and all the funds you wish to deposit will be credited to your account quickly.
Choosing the Best Boku Betting Sites
If you are looking for a Boku betting site that is best for you, our website will help you do so in the most efficient way. Simply use the keyword 'Boku' in the top betting site's search filter on the left-hand side, and we will list the best betting sites that offer this form of payment will be displayed with ratings from high to low for you to choose from.
In addition, our intelligent filters make search results more detailed. For example, if you are looking for a Boku betting site that offers progressive jackpot games, you can use two keywords 'Boku' and 'Bitcoin Betting Sites".
We will filter the best Boku betting sites available in your country based on the information you provide. If you want to search for betting sites that offer services outside of your region, you can change your country information at the top of the home page.
