For most players, being able to play in their own native currency is of utmost importance. The problem is that not every online casino has a wide selection of currencies for the players to choose from. In fact, most of them stick to only a few major currencies, as it makes their online casino banking job less complicated.
An important thing to point out is that deposit currency is not synonymous with playing currency. Many casinos will let you make a deposit using a credit card (or some other method) in your native currency, but you will have to use one of the available currencies to wager the money. So, unless your native currency is among the most commonly used currencies, you might find it difficult to manage the funds. In that case, you have two choices before you: either get used to playing in one of the approved currencies or find a casino that will let you pick whichever currency you want.
Fiat Currencies Accepted by Online Casinos
Here are some of the most commonly used currencies at online casinos, in order of popularity!
- Euro – The official currency of the European Union is the most commonly used currency in online casinos. This is not a surprise, given the fact that 19 European nations use it as their main currency. Another reason why almost every online casino operator has Euro in its selection of currencies is the fact that online gambling is legal and regulated in a large number of European countries.
- US Dollar (USD) – Knowing that dollar is the most traded currency on foreign exchange markets, it is not a surprise that many online casinos use it as the primary currency. The American dollar would be even more popular if the rules and regulations for getting a US license were easies. This way, only a handful of online casinos can accept US players.
- British Pound (GBP) – Online gambling is legal and regulated in the UK, meaning that hundreds of thousands of Brits play casino games on a regular basis. Because of that, it is not a big surprise that their currency is available in a large percentage of online casinos.
- Australian Dollar (AUD) – Researchers have found that the Aussies spend more money on casinos than any other nation on the planet. Because a high number of Australian players gamble online, many casino operators have decided to use AUD as the main currency.
- Canadian Dollar (CAD) – Many online casinos that focus on the Canadian market use CAD as their primary currency.
- Swedish Krona (SEK) – Despite the fact that less than 10 million people call Sweden home, SEK is the sixth most commonly used currency in online casinos. This can mean only one thing – the Swedes like online gaming!
- Norwegian Krone (NOK) – The popularity of online gaming in Scandinavia is proven by the fact that Norwegian Krone is among the most commonly used internet casino currencies.
- South African Rand (ZAR) – Apart from being available at casinos that focus on the South African market, this currency can also be used at many major casino operators, including Winner Casino, 888 Casino, 7Casino, and many others.
Apart from these currencies, there are many casinos that also allow the players to choose the currencies of Russia, China, Japan, and other Asian countries. Still, it’s important to point out that the players from those countries seem to prefer playing with the US dollar as their account’s main currency. It’s a similar case with the players from South America and Mexico.
Cryptocurrencies
Many users who worry about their privacy and anonymity have decided to use cryptocurrencies to make deposits and withdrawals. Another reason why many players are interested in this type of transaction method is that the value of cryptocurrencies has skyrocketed lately, especially the value of the world’s first cryptocurrency, Bitcoin.
- Bitcoin (BTC) – The most famous cryptocurrency, Bitcoin, is available in a huge number of online casinos. As the popularity of Bitcoin grows, so does the number of casinos that accept it. Furthermore, you can even get casino bonuses if you deposit Bitcoins into your account.
- Ethereum (ETH) – One of the main downsides of cryptocurrencies is that their value is extremely unstable. In fact, it varies quite a lot on an everyday basis. The good news is that it’s not the case with every single cryptocurrency. Some, like Ethereum, are pretty stable. Because it’s very constant against the dollar, many players decide on using Ethereum rather than any other cryptocurrency.
- Litecoin (LTC) – This cryptocurrency was launched as an improved Bitcoin alternative. What this means is that it’s very similar to BTC, with several important advantages. Litecoin is cheaper than bitcoin and has faster transaction times.
- Monero (XMR) – According to online security experts, Monero is one of the best cryptocurrencies in terms of security, but also the privacy and anonymity of the users. That is why it’s not a surprise that many online casinos have already included XMR in their offer.
Although it is true that many casinos allow users to use cryptocurrencies to make deposits/withdrawals, not many of them will allow a player to use a cryptocurrency as the main currency on their account. Instead, they will exchange the cryptocurrencies for dollars or some other major currency.
Currency Exchange
If you happen to win real money online in one currency, exchanging it for another may be very unfavorable. This is because most casinos use exchange rates that go in their favor. This means that you might end up receiving much less money in your bank account than you won at a casino.
Of course, the exchange rate depends on which FX the casino uses. That is why it is important to do your research before putting your trust in a casino. The good news is that finding a quality casino that offers good exchange rates is not that difficult. All you go to do is check out the top online casino reviews at CasinosHub!
