New Study Shows Euro Beats US Dollar as Most Popular Currency in Online Gaming

Published May 13, 2016 by Elana K

New Study Shows Euro Beats US Dollar as Most Popular Currency in Online Gaming

Whereas the US Dollar used to reign supreme as the most popular currency in the world of online casinos, a new team of researchers from KeyToCasino has found that the Euro has now usurped the US Dollar’s role as the most commonly offered currency.

Whereas the US Dollar used to reign supreme as the most popular currency in the world of online casinos, a new team of researchers from KeyToCasino has found that the Euro has now usurped the US Dollar’s role as the most commonly offered currency.

History of Online Casino Currencies

Before 2006, almost every internet casino in existence offered the option to make deposits in US Dollars and to have US Dollar player accounts. But then, the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in the United States, which prohibited operators from accepting deposits made by US players. Understandably, most operators complied, and stopped accepting US customers.

Still, many sites still offered the US Dollar option; in fact, as recently as 2014, almost 90 percent of online casinos allowed US Dollar accounts; however, over the past two years, that number has dropped to less than 75 percent, while the Euro has peaked at 78 percent.

Why the Drop in the Dollar’s Popularity and the Increase in Euro’s Popularity?

Garret Walker, a researcher from KeyToCasino, commented that the Euro’s popularity is due mainly to the fact that online casino operators are targeting the European market more than the US market. This too, is surely due to the UIGEA, which effectively shut Americans off from the online gambling world, forcing them to go to offshore, illegal sites if they wished to gamble online. It also made operators turn away from them as potential players, since the operators themselves did not want to incur fines or penalties.

Today, a number of states have legalized online gambling in America, and it seems likely that more will follow, which means that operators may turn their focus back to the States and bring back the Dollar option. But it has not yet happened.

Another reason for the Euro’s popularity is the simple fact that more and more European countries are adopting the Euro, so online casinos are making sure that their players can deposit conveniently.

Other Currency Trends

The top five currencies in the online casino world are the Euro, US Dollar, British Pound, Australian Dollar and Canadian Dollar. Notably absent from this list are the Chinese Yuan and the Japanese Yen; while both of these are countries have large populations and strong currencies, online casinos are not very popular there.

The top five currencies that are more common now than they were in 2014 are the Euro, Russian Rouble, South African Rand, Norwegian Krone, South Korean Won.

The top five currencies that are popular, but less common today than they were two years ago, are the US Dollar, Canadian Dollar, Swiss Franc, British Pound and Danish Krone.

About the Research

This research offers a snapshot of the current situation of currencies in the online gambling world, but these facts often change due to the economic, legal and political realities of each particular country, and the global community at large.

The research was led by Olena Prachenko of KeyToCasino and was carried out by the KeyToCasino research team, a group dedicated to studying the online casino industry and which has published a number of related reports in the past.

See also

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Cyprus Gaming Show Comes to Limassol in Late May

Germany Favored to Beat England

Isle of Man Working Toward Digital Currency Regulation

France's Status as Host of Euro 2016 Under Scrutiny in the Wake of Terrorist Attacks


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