According to European Union gambling statistics, there are about 7 million consumers of online gambling games use Euros. This amounts to over €180 billion in transactions per annum. This is pretty evident that the usage of Euros plays a huge role in online gambling. For a fact we are expecting more since the figures for usage of Euros in online gaming is rising exponentially at the rate of 3% year on year.
How Does Euro Differ from Other Currency?
Euro is unique in its own way and holds differences compared to all other the currencies. They are:
- This currency is owned by the European Central Bank, unlike others which are owned by the independent country.
- It is governed by the jurisdictions of the Eurozone while other currencies are governed by the constitutions of those countries.
- Euro is an official currency of several countries (Eurozone) unlike the rest of the currencies which are usually officially in their own countries only.
Conditions for Using Euros to Gamble Online
For starters, the Euro can only be used to play real cash games. If you want to play free rounds online, you won’t need to use Euros or any other kind of currency. You should thus know that there are some conditions involved when you are using Euros to play online casino games. The most important regulations that you must follow are:
- Euro casinos only allow gamblers who are 18 years and above to participate in the games that are available in the lobby.
- There is a minimum amount you can deposit and maximum you can withdraw depending on the casino you are using and the payment method that you select. For this information, you have to check with the casino or payment merchant.
- Slotty Vegas – Deposit limits will depend on the payment option that you use to load your account, and you can cash out up to €20,000 daily.
- BetAt Casino – Since it is owned by the same company as Slotty Vegas, it’s no surprise that acceptable deposit limits vary from one payment option to another just like at Slotty Vegas. Maximum withdrawals also stand at €20,000 a day.
- Casumo – The minimum cash-out is €10, and the maximum withdrawal is not explicitly stated. This means that you can cash out as much as you want and if you have any queries, the support team is always waiting. Deposit limits, on the other hand, depend on your payment option of choice.
- All British Casino – Here, you can’t deposit or withdraw any amount less than €20, and you can cash out as much as €5,000 daily!
- Sloty – As a member of this betting site, you’ll realize that deposit limits depend on your choice of payment options. On the other hand, the minimum amount you can cash out is €20 while you cash out as much as 5,500 on a weekly basis and up to €22,000 per month.
- Instadebit– here, there is no deposit fee and only a €3 withdrawal fee;
- iDebit – free deposits with less than €2 withdrawal fee;
- Neteller – loading your bankroll is free while €2 is charged for withdrawals;
- Skrill – €2 is charged per deposit while withdrawal fees stand at €4 per transaction;
- Ecopayz – deposits are free while withdrawal fees range between €5.90 to €10;
- Paysafecard – only €1 is charged for deposits while withdrawals face a €3.35 levy;
- Entropay – Charges 0% to 1.95% for depositing and €3 for withdrawals;
- Paypal – charges are 0% for both deposit and withdrawals;
- i-Banq – only €1 is charged for deposits while withdrawals cost €1.80 only;
- Todito – there are no deposit charges, but withdrawals cost €10 only;
- Minimal transaction costs compared to other currencies.
- Since euro is a single currency, there will be price clearness, and it will be easier to compare prices of each game depending on your geographical location.
- It is known to have low interest rates; this makes it quite great to use since can easily be converted to other forms of currency.
- Andorra –it was initially Andorra currency;
- Kosovo- it was initially French francs;
- Monaco-it initially used Monegasque franc;
- Montenegro-it used Montenegro’s currency;
- Vatican City-it initially used Vatican coins;
- San Marino-it initially used Sammarinese lira.
- Can I play for real money from any part of the world using Euros?
- Yes, as long as online gambling is legal in your location you can place real money wagers using the Euro as you game online.
- How do I determine if a Euro casino is legit?
- You must check whether the site is accredited by a reputable online gaming authority like eCogra and Malta. All Euro casinos also use SSL encryptions for fraud prevention in online transactions.
- How can I deposit Euros into my betting account?
- After you have finished creating your account, you should pick an e-wallet option or a bank card then connect it as a payment option to your gaming account. That way you can load bankroll to your account after all your details are verified.
- Are there any charges for transactions at Euro casinos?
- Most Euro casinos don’t have any transaction fees but in some do charge you for loading your account and cashing out. You have to find out all details from the terms of the site or consult the support team.
- How long should I wait for my transactions to be processed?
On the other hand, even if you aren’t a citizen of the countries in the Eurozone, you can still use the Euro to place your wagers online and receive your winnings after you make some solid bets. Therefore, if you are thinking of playing at a Euro casino, you aren’t going to face any issues with the currency irrespective of where you reside.
Online Casinos Using Euros As the Principal Currency
Are you wondering where you can bet on your favorite games using Euros? Well, in this section, we are going to point you towards five of the most reputable Euro casinos online while listing some of the limits that you should expect once you become a member:
Currency Exchange Rate
The Euro is one of the highest value currency, and so, converting it to any other currency will face some exchange rate fees that will differ from one casino to another. Just like the currency conversion transaction fees, the exchange rate to your local currency will also depend on the individual casino. Therefore, to find out the exchange rate and the fees, you will have to check the terms and conditions of the casino or the customer support team. This is mainly because the currency conversion rates usually vary from time to time, they could rise or drop depending on the market stability.
Payment Options in Euros
In most cases, banks and their credit and debit cards will accept all types of currency and so, it’s easier to use them when you are gaming online. The transaction fees will vary from one bank to another, so you have to get your facts right before you pick one. When it comes to e-wallets, the transactional costs are usually more clearly defined. Below is an overview of the fees that you should expect in some of the e-wallets that accept Euro transactions:
However, you should know that each Euro casino may have its own surcharging structure for both deposits and withdrawals which you should confirm with the site itself.
Advantages of Using Euro in Gambling
Some of the main benefits of using Euros while betting online includes:
Countries with the Euro As the Second Currency
You should also know that there are countries which abandoned their own currency due to several reasons and adopted euro as their second currency. Some of the countries that use the Euro as a second currency are as shown, together with their initial currencies which have since been abandoned:
Usually, deposits are processed instantly while withdrawals may take up to 24 hours for e-wallets while for bank cards and wire transfers, you may have to wait for 2 – 7 business days depending on the casino.