The US Dollar Loses Its Crown As The Most Popular Currency In Online Casinos
The UIGEA effectively banned online casinos, and without the large US market to target, the US currency became less of a priority for online casino operators. This is particularly true for those casinos that began trading after 2006.
New research has shown the Euro is now the most common currency option offered by online casinos around the world. It has overtaken the US Dollar, which historically was always at the top of the table. The Euro is now offered as an option in 78 percent of global casinos.
The research was carried out by KeyToCasino.com research team which is dedicated to studying online casino industry and published a number of reports in the past.
Their latest research looked at the currency options offered by casinos from all over the world. This gives an interesting insight into the consumer market that the online casino industry is currently targeting, and the way trends are changing. Full report is available here: http://www.keytocasino.com/en/article/currency-study.html
Before 2006, almost every online casino in the world offered US Dollar as a currency option. Things started to change after the introduction of the Unlawful Internet Gambling Enforcement Act (UIGEA) in the United States. At first, many casinos banned US customers, but US Dollar option was left available to all other players. However, later they began to eliminate that option, and some new brands that started operating after 2006 have not even considered it. By 2014, just about 90% of the casinos allowed US Dollar player accounts, and today the number is less than 75%.
Now, for the first time in online casino history, the Euro is the most common currency option offered to online casino players.
Garret Walker, a researcher from KeyToCasino, said: “The UIGEA effectively banned online casinos, and without the large US market to target, the US currency became less of a priority for online casino operators. This is particularly true for those casinos that began trading after 2006.”
Mr. Walker added that there are other reasons that have contributed to this changing currency trend, including the fact that online casinos remain popular in Europe.In addition, the Euro is one of the world’s leading currencies, with more countries adopting it as their currency since 2014.
The top five currency options in online casinos around the world are Euro, US Dollar, British Pound, Australian Dollar and Canadian Dollar.
Currencies that are more common now than they were in 2014 include the Russian Rouble, South African Rand, Norwegian Krone, South Korean Won and, of course, the Euro.
In addition to the US Dollar, the currencies that are now less common than they were two years ago include the Canadian Dollar, Swiss Franc, British Pound and Danish Krone.
The research is a snapshot in time as the currency options offered at online casinos often lag behind the economic, legal and political realities of a particular country. The findings do, however, show clear trends, and changes to those trends, over time.
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- Contact Information
- Garret Walker
- Senior Researcher
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