MuchBetter — an online payment alternative to gaming industry leaders
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 iGaming merchants. 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 the 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 the FCA licence supported by the banking industry protocols and high tariffs, ensures a high level of 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 the 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
- 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
Cons
- 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.
FAQ
Verification in MuchBetter is required to confirm the information you specified during registration and upgrade your account
The verification process consists of two stages:
- Provide a photo of the following documents, on your choice: passport/foreign passport/driver's license/ID card;
- Online selfie with an identity document.
Both stages can be processed in the MuchBetter mobile app.
MuchBetter offers various convenient payment cashout & withdrawal options. A full list of available withdrawal options you may find here. Most popular are: Bank Transfer, SEPA, Bitcoin, Yandex, and Interac.
You can also use your MuchBetter MasterCard to withdraw your money at an ATM, pay in shops or when buying things online. Transferring money with a p2p transfer to other players with a MuchBetter account is instant and free.
To create an account:
- Enter your phone number and set up a four-digit PIN code.
- Select the account currency;
- Enter your name, surname, email, date of birth, and home address;
- A 6-digit confirmation code will be sent to your mobile phone number. Enter it and click "Next";
- After confirming your mobile phone number, you will receive an SMS with a link to download the app in Google Play or App Store;
- Launch the application and log in. Enter your phone number and 4-digit PIN code.
The available deposit methods depend on your country of residence and you may find them 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, and Yandex. You can find a full list of available deposit methods and fees here.
Questions & answers
Tatiana Gomzicova
Do you plan to provide MuchBetter services in the US in near future?
MuchBetter Representative
We certainly have plans to extend to more markets in the future, although at this moment in time there aren’t any immediate plans to start providing services to the US.
Tatiana Gomzicova
Can we say that MuchBetter is more focused towards gamers and traders?
MuchBetter Representative
MuchBetter is more focused towards gamers.
Tatiana Gomzicova
Do you plan to introduce a VIP program for users?
MuchBetter Representative
Yes, we have plans for this in the future.
Tatiana Gomzicova
Much Better supports top up via QR code, does it allow to make transfers/payments by scanning QR codes?
MuchBetter Representative
Unfortunately, not at this moment. However, we are constantly striving for more innovative solutions, so watch this space.
Conclusion
MuchBetter is an e-wallet for professional gamers and traders, supported by a wide range of popular merchants. Low currency conversion fees and free MasterCard makes it a 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.
