Online casinos have been around since the days when bank transfers required up to an entire week to be processed. Clearly, this was extremely inconvenient – sending money to friends and family in an emergency was difficult if not impossible, depending who they banked with and whether there was a branch somewhere close to you.
If you wanted to play some online casino games, nobody wanted to wait an entire week for their funds to become available. The majority of the public did not trust the internet back then – entering your card details into a website was both scary and even risky, depending on the level of security used by the receiving party.
It was in this environment that a handful of savvy entrepreneurs came up with the idea of creating a digital wallet, or e-wallet as they are more commonly known today. Over in the United States, Elon Musk’s X.com was expanding to become a fully fledged bank. X.com was renamed PayPal in 2001, right around the same time that MoneyBookers was founded in London, England.