In the bank itself or any other financial institution that cooperates with the payment system, the accuracy of the payment is checked, and then you give the money to the cashier. A bit like a standard bank transfer, but you will not need to mess with the bank details of the recipient. You need to print out the Baloto form and give cash to the cashier after the form is approved. The scheme may not seem very convenient, but in a year Baloto handles more than 0.5 billion transactions, and this number is continually growing. In Colombia, the payment system covers about a third of all financial transactions in the country. In this article, we will also consider some Online casinos that accept Baloto.
Deposit and withdrawal method
Service Baloto as a payment option is very convenient. The advantage of choosing that method is that the risk of the fraudulent activity is minimized, and this, in turn, allows the user to relax and assess the reliable protection and safety of financial transactions. The security of your data also does not need to worry: customer comfort is a priority policy of the payment service.
It should be noted that the client can often find information on the payment system on different sites.
The distinctive nuances of using the Baloto Online Casinos are the following:
- the ability to make bank transfers is not available to residents of other countries except Colombia.
- residents of Colombia can make payment by using an electronic credit card or by making cash.
On the official website of the Baloto system, the user is advised to know in advance the cost of the services provided by the technical support service. Also here are indicated the commission fee that will be levied on the fact of the financial transactions performed.
It should be noted that the service is quite common in Colombia, and its number of customers is close to 100 000. It is also noteworthy that residents of Colombia make more than 60% of transactions using the Baloto payment system.
Many western online casinos which offer users gaming slots cooperate with this system. The apparent fact is that the payment service of Baloto is not oriented to the residents of the near abroad, which is the primary and rather significant obstacle when choosing it as a method of Baloto Casino Deposit.
If any problems arise during the use of the recommended service, the user can always contact the technical support service, whose employees will not leave your issues unanswered. The user can ask any questions regarding the transactions made, the balance of the personal account and the nuances of using the service. Use Baloto is convenient for customers who in developing countries. For them, there is a loyalty program, which is quite profitable and allows you to use the method of payment when making financial transactions. If you want to make a Baloto Casino Deposit, the support team will explain how to do it right.
The only drawback of the recommended method is that with its help it is impossible to withdraw money won at the online casino. However, the ability to instantly deposit the game account in Baloto Online Casinos compensates for this “minus.”
Advantages and disadvantages
This payment system has become so popular because in Colombia and other countries of the region the banking system is developed very weakly. People do not have credit cards, that’s why they have to print a ticket with payment details and apply to the bank. Such a scheme has several advantages:
- It can be used by absolutely anyone so that online payments have become available to a large number of people. Even for those who do not have accounts in banks, wallets in different payment systems;
- High reliability. You do not need to enter your data on third-party sites;
There are a lot of shortcomings:
- Terms – if you cancel the ticket through the bank, then you will have to wait at least three working days. To help here, online banking, banks that work with this payment system, which allow online payment with Baloto;
- Work only on tickets. The already printed voucher cannot be spent to pay for anything else, the payment destination is indicated on the ticket. Every time you have to re-create a payment, and it’s inconvenient;
- You can spend only the amount stated on the ticket;
- In the case of casinos, work is only possible in one direction. You cannot withdraw money from the casino in this way. As a result, the attractiveness of the payment system outside of Colombia and the surrounding countries is significantly reduced. Especially when you consider that you can always open a wallet in another payment system and pay for everything you need online right from your wallet.
Anyway, Baloto Online Casinos are a good way to gamble in countries where it is difficult to get a bank account.
The operation of the payment system of Baloto is licensed and therefore is safe. The National Bank of Colombia is the leading company concerning the proposed service – it is there that strong control over transactions is carried out, which provides the clients with a proper level of security. Baloto Online Casinos offer reliable and secure transactions.
The advantages that the user will enjoy in the case of choosing the payment service Baloto is the fact that Baloto cooperates with electronic payment systems MasterCard and Visa, which are known all over the world and have long been an excellent reputation. Users with Visa cards Electron and Maestro are also able to use the deposit replenishment method when using Baloto.
Casinos that accept Baloto
The list of Online casinos that accept Baloto includes following gambling houses: Wintrillions, Royal Vegas Online, Casino Euro Palace, Platinum Play Casino, LunaCasino and others. We found more than 15 Baloto Online Casinos. It’s not a huge list, but gamblers from Colombia are free to play slots in these casinos.
Alternatives to Baloto for Funding Online Casino Accounts
For residents of Latin and South America, there are not many alternatives that can replace the opening of a bank account or the use of electronic wallets. Baloto is a good option for those who do not even have access to the Internet. Among the alternatives are eKonto, DineroMail, and Todito Cash. Of course, residents of Colombia can use other popular systems, but for this, it is necessary to have an Internet connection. Baloto Online Casinos also supports other payment methods.
As a result of the review, it should be noted that the payment system Baloto provides an excellent level of protection against fraudulent schemes, because the activities of the Latin American service are strictly controlled, being licensed. Also, the decisive moment of using Baloto is the absence of hidden payments which undoubtedly attracts a large number of customers. A high-quality technical support service distinguishes the service. When contacting with support, competent consultants can offer the client answers to questions about the rules of transactions and the use of the Baloto payment system.
Concerning the justification for using Baloto, let’s say that this is excellent insurance if you are worried about hackers getting access to the main account. Many use it to ensure maximum security when paying for purchases on the network. Baloto Online Casinos is a perfect way-out for Colombian gamblers because they may feel free to play slots.
- How to fund a casino account with Baloto?
To deposit the account in the Deposit menu, you must select the name of this EPS, specify the amount of the replenishment. Then print out the ticket and pay it in the bank or online, if your bank works with Baloto. The general form of the ticket is shown in the figure below. All information on payment is encrypted in the code. If payment was made through a bank, we recommend that you require a check from the cashier. That is simple insurance, and if he made a mistake in the content, you would be able to prove that nothing has to be paid back through the bank.
- Is it worth using Baloto to deposit the account in the casino?
In this issue, everything depends on what country you are in. If in Colombia, then definitely yes. Banks of that country work with this payment system and the lion’s share of financial transactions are conducted through it.
The big drawback is the time of enrolling, still, wait three days hardly anyone wants. And not all banks allow you to pay for a Baloto ticket online. Another argument against the payment system is the number of casinos supporting this method of depositing. A total of about 10-15 casinos allow you to replenish your account in this way. So if you are not a resident of Colombia, then better consider other methods of depositing the account in the Baloto Online Casinos. They are much more comfortable than the Baloto tickets.
- How are financial transactions?
Financial transactions are made through the system Web Billing and mPayment, which involves the writing-off of funds from an account prepaid. A potential customer is likely to be interested in the algorithm for conducting transactions in the proposed system of payments. To make full use of the Baloto service, you do not need to create an account on the same network, which is quite a convenient rule that saves the client’s time
Recall that one of the tasks of the payment service Baloto is to simplify the transaction process as much as possible, which automatically guarantees the availability of certain amenities – for example, it is not necessary to observe the condition of a positive account balance.
- How to use an open account?
To use the Baloto system, it is not necessary to have an open account in one of the partner banks, use the services or have an electronic credit card. The recommended system contains a large number of partners, which allows the user to make a deliberate choice.
To make payments in real time, the credit card is most often used. However, a method of bank transfer is possible. A user who prefers the classic option for paying for goods and services uses Internet banking, specifying in a particular electronic form the amount of the transfer and confirming the transaction.