Tatiana Gomzicova
Tatiana Gomzicova
Tatiana is CMO and FinTech expert at AskWallet.

MuchBetter — an online payment alternative to gaming industry leaders.

For the past 4 years MuchBetter — brand new e-Wallet has become more popular in the professional online gaming community. But there is also a question why you would want to switch to MuchBetter instead of Skrill or NETELLER which are much bigger and known names in the industry?

5 min read 16.01.2021

What is MuchBetter?

 

Let’s go straight to facts. Since the start in 2016 more than 500 merchants have added it to the list of deposit and withdrawal methods, and most of them were added in the first year. MuchBetter is accepted by many popular poker sites and bookmakers, online casinos and Forex brokers. At the same time it still is not available as a payment method in such market leading merchants as bet365 and it might be disappointing for some customers.

 

But keep in mind that MuchBetter liability is supported by British financial regulator (reference number 900704).

The electronic money company is working under UK jurisdiction as an Authorized Electronic Money Institution (EMI). It is a fact that FCA licence supported by the banking industry protocols and high tariffs, ensures a high level of your account security. 

 

So if you are looking for a safe and low cost alternative to the game industry leading e-Wallets such as Skrill, Neteller or EcoPayz — that may be a clue.

 

I’ve carefully researched the information about MuchBetter features to help you to compare and make a right decision. To be objective I have created a list of pros and cons based on real user experience. Get more detailed information about fees, limits and additional features here.

 

Pros & Cons

  • Wide range of supported merchants
  • No additional or hidden fees for deposits and cashouts on gambling platforms
  • The lowest gaming e-Wallet currency conversion fees
  • Free and instant P2P transactions
  • Fast verification (up to 5 minutes)
  • Functional and simple mobile application
  • Security and privacy ensured by FCA license
  • Free Mastercard (for EEA countries)
  • Currency conversion rate - 0.99%
  • Customer support 24/7
  • Muchbetter charges up to 8% when you make deposits by debit or credit card (depending on your region and funding method)
  • Muchbetter is not accepted at many retailers outside of the online gaming industry.
  • MuchBetter MasterCard is issued only for EU countries.

Conclusion

 

Muchbetter is an e-Wallet for professional gamblers and traders, supported in a wide range of popular merchants. Low currency conversion fees and free MasterCard makes it convenient and easy way to use in the EU region for your gaming needs. You may compare Muchbetter with other popular gaming e-Wallets here.

 

MuchBetter FAQ

How to verify my account?

Verification in MuchBetter is required to confirm the information you specified during registration and upgrade your account 

The verification process consists of two stages:

 

  1. Providing a photo of the following documents, on your choice: passport/foreign passport/ driver license/ID card;
  2. Online selfie with an identity document.

 

Both stages can be processed in the MuchBetter mobile app.

 

How to register an account?

To create an account:

 

  1. Enter your phone number and set up a four-digit PIN code.
  2. Select the account currency;
  3. Enter your name, surname, email, date of birth, home address;
  4. A 6-digit confirmation code will be sent to your mobile phone number. Enter it and click "Next";
  5. After confirming your mobile phone number, you will receive an SMS with link to download the app in Google Play or App Store;
  6. Launch the application and log in. Enter your phone number and 4-digit PIN code.
How to withdraw money from a MuchBetter account and what are the fees?

MuchBetter offers various convenient payment cashout & withdrawal options. Full list of available withdrawal options you may find here. Most popular are: Bank Transfer, SEPA, Bitcoin, Yandex, Interac.

 

You can also use your MuchBetter MasterCard to withdraw your money at an ATM, paying in shops or when buying things online. Transferring money with a p2p transfer to other players with a MuchBetter account is instant and free.

How to deposit funds to a MuchBetter account and what are the deposit fees?

The available deposit methods depend on your country of residence and you may find it in your MuchBetter account. Some deposit methods are completely free of charge.

Below are the most popular payment options available for deposits: Bank Transfer, MasterCard, VISA, Bitcoin, American Express, Paysafe Card, Yandex. You can find a full list of available deposit methods and fees here.

 
How to verify my account?

Verification in MuchBetter is required to confirm the information you specified during registration and upgrade your account 

The verification process consists of two stages:

 

  1. Providing a photo of the following documents, on your choice: passport/foreign passport/ driver license/ID card;
  2. Online selfie with an identity document.

 

Both stages can be processed in the MuchBetter mobile app.

 

How to withdraw money from a MuchBetter account and what are the fees?

MuchBetter offers various convenient payment cashout & withdrawal options. Full list of available withdrawal options you may find here. Most popular are: Bank Transfer, SEPA, Bitcoin, Yandex, Interac.

 

You can also use your MuchBetter MasterCard to withdraw your money at an ATM, paying in shops or when buying things online. Transferring money with a p2p transfer to other players with a MuchBetter account is instant and free.

How to register an account?

To create an account:

 

  1. Enter your phone number and set up a four-digit PIN code.
  2. Select the account currency;
  3. Enter your name, surname, email, date of birth, home address;
  4. A 6-digit confirmation code will be sent to your mobile phone number. Enter it and click "Next";
  5. After confirming your mobile phone number, you will receive an SMS with link to download the app in Google Play or App Store;
  6. Launch the application and log in. Enter your phone number and 4-digit PIN code.
How to deposit funds to a MuchBetter account and what are the deposit fees?

The available deposit methods depend on your country of residence and you may find it in your MuchBetter account. Some deposit methods are completely free of charge.

Below are the most popular payment options available for deposits: Bank Transfer, MasterCard, VISA, Bitcoin, American Express, Paysafe Card, Yandex. You can find a full list of available deposit methods and fees here.

 
4.60 How do we count the overall Askwallet star rating? It's all based on a combination of reviewer’s feedback and our expertise.
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Tatiana Gomzicova
Tatiana Gomzicova
Tatiana has a first-class degree from the Academy of Economic Studies of Moldova, specializes in financial technologies and cryptocurrencies. In her spare time she enjoys long walks on the beach.