Online Casino Currency Options

Tune in to learn why people play at online casinos using currencies other than their domestic currency. (Photo by Jason Leung on Unsplash)

Did you know you don’t have to deposit money at an online casino using your domestic currency?

Although, in most cases, we would normally recommend using your local currency option to avoid exchange rate fees, this rule has a few exceptions.

One in particular is British players depositing money to play casino games using USD.

Why play with another currency at an online casino?

  • Most online casinos today are set up to accept multiple currencies, but you may find that your domestic currency is not available as a deposit option. As a result, you may consider depositing using another currency.
  • Conversely, some players can deposit using their domestic currency but prefer to play using another currency. Probably the most popular alternative is cryptocurrency.
  • Some players also prefer to deposit using another currency because they get lower minimum bets. USD is one of the most popular because the minimum bet at most casinos for slots, roulette, and games shows is usually $0.10, and for table games like Blackjack and Baccarat, it is around $1.00 per bet.

Below, I will explain the pros and cons of using cryptocurrency as a deposit and withdrawal option. I will also give you the reasons as to why people choose to swap playing EUR or GBP and choose to fund and play online casino games using USD.

Cryptocurrency Deposits and Withdrawals

Crypto is a modern currency used for online casino deposits and withdrawals. There are several cryptocurrencies you can choose from to deposit, and each one has slightly different features.

Unfortunately, if you are a UK casino player, you do not generally have the option to play at crypto casinos. That is unless you want to risk joining an online gambling platform not covered by the UKGC.

If you are from South Africa, India, New Zealand, Canada, or the Republic of Ireland, you can choose to play cryptocurrency. However, choose an online casino under the Curacao licensing authority if you want to bet using crypto.

Here are some questions you should answer for yourself before you decide to use crypto to play at online casinos:

  1. How much are the network fees for transacting with your preferred crypto?
  2. Are you OK with fluctuating crypto price values?
  3. How long does it take for the transaction to process using crypto?

In the table below I will answer these three questions for five of the most popularly used cryptocurrencies in online casinos today:

Cryptocurrency Features
Bitcoin (BTC)
  • One of the most popular cryptocurrencies used for casino transactions.
  • The fees are low (barely noticeable)
  • Bitcoin can take up to 10 minutes to appear in your casino balance for deposits or appear in your crypto wallet for withdrawals.
Ethereum (ETH)
  • The issue with Ethereum is that the network fees, a.k.a. gas fees, are high.
  • As for speed, deposits using ETH usually take less than a minute to show up in your casino balance, and vice versa for your crypto wallet when you withdraw.
Tether (USDT) – ERC20
  • ERC20 USDT runs off the Ethereum network. As with ETH, the fees for transacting using USDT are high.
  • I recently deposited $150.00 using this network, and only $129.00 has arrived in my account. That’s a $21.00 gas fee, whereas if I used USD, I would have paid lower exchange rate fees.
  • Deposits using USDT ERC-20 are almost instant. Depending on the casino’s wallet setup, transactions should take less than a minute.
Tether (USDT) – TRC20
  • USDT TRC20 runs off the TRON network.
  • Network fees are low—usually, just 1 USDT (US$1.00).
  • Transactions can take between 20 seconds and 5 minutes to process, depending on how busy the TRON network is at the time of your transfer.
Ripple (XRP)
  • XRP fees are unnoticeable making this a great crypto to use.
  • Some say XRP has the potential to rise in value over the next few years, so it could also be a great investment.
  • It usually takes seconds for an XRP transaction to process.
Dogecoin (DOGE)
  • DOGE transaction also come with network fees you will barely notice when transacting with your online casino.
  • Fees are so low, DOGE is popular for tipping online and other micro-transactions.
  • The speed of DOGE transactions is reasonable with around a 30 second to 1 minute processing speed.

There are plenty of pros and cons to weigh when choosing which crypto to use because each has unique features. For more information on crypto casinos, please visit our guide to cryptocurrencies in online casinos.

Using USD as an Alternative Currency for Lower Minimum Bets

Some players prefer to deposit US Dollars instead of Euros or British Sterling. The reason is that the minimum bets using US dollars are lower than GBP or EUR.

  • Euros = 1 EUR minimum bet for blackjack and baccarat / 0.10 per spin for online slots, roulette, and game shows.
  • Pound Sterling = 1 GBP minimum bet for blackjack and baccarat / 0.10 per spin for online slots, roulette, and game shows.
  • US Dollars = 1 USD minimum bet for blackjack and baccarat / 0.10 per spin for online slots, roulette, and game shows.

When considering the exchange rates, low-stakes players are taking less risk by using USD.

  • 1 GBP to 1 USD:

1 USD is worth 0.78 USD, which means low-stakes players can play casino games using USD for almost 20% less per bet.

The difference between these two currencies means it makes sense for low-stakes casino players to prefer playing using USD. You can also apply the same principles to USDT, but make sure you use the TRC-20 version of USDT to avoid the gas fees mentioned in the table under the cryptocurrency section.

As for historical values between GBP and USD, the highest the USD has been valued against GBP was in September 2022, when the USD was worth 0.92 GBP. Since then, the highest USD values have been 0.84 in February 2023 and 0.82 in October 2023.

  • 1 Euro to 1 USD

1 USD is worth 0.92 Euros and generally stays around this figure, so that is 0.92 EUR per bet.

The difference between the two currencies is minimal. The exchange rates may negate the benefits of using USD instead of EUR, depending on how much you play. Also, the exchange rates between these two currencies can close if the USD strengthens. For example, in October 2022, USD was worth 1.03 Euros.

  • CAD and NZD

Minimum bets are usually C$-NZ$2.00 for blackjack and baccarat and C$/NZ$0.20 for slots, game shows, and roulette. Therefore, it is generally beneficial for low-stakes players to switch to CAD or NZD.

Is it Worth Using USD as an Alternative Currency?

For GBP stakes, players can benefit from playing casino games using USD. UK players can reduce their bets by up to 20% if the exchange rate between the GBP and USD remains around 0.8 USD for every 1 GBP.

There doesn’t appear to be much point regarding players swapping Euros for USD. The discount on your minimum bet is only around 10%, so whether this is enough to sway you to play using USD is entirely down to you.

As for cryptocurrency players, there are some risks involved. Cryptos are volatile, and you could lose more while you play if there is a bear market. On the flip side, you could also make money from your crypto investments if there is a crypto bull run.

What about the negatives to playing using a foreign currency? We have this topic covered in our guide to to depositing with Domestic Currency Vs. Foreign Currency. It’s a great read, and gives you the cost of playing at online casino using a foreign currency.

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