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Your Preferred Currency at Online Casinos in New Zealand

October 5, 2018 Posted in News, Payment, Tips by No Comments

It is every gambler’s dream to make millions with minimal risks involved. As much as the story of making millions with minimal risks may seem enticing, today we will dwell on what currency to choose while gambling in online casinos. Why is it crucial to pick a good currency?

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Well, a good gambler needs to understand that maximizing his profits is the ultimate goal. He/ she needs to select a currency that won’t incur conversion fees because it will squeeze some of his/her winnings to cater for the costs. Also, if he/she intends to pay via a debit card or a credit card, then the bank will most likely charge for the transaction fees. These are crucial issues that need to be considered when picking a currency, so what are the most common currencies that are used in New Zealand’s online gambling sites?

Digital currencies

A decade ago nobody ever thought that digital currency would drive the world to the next level. With the online gambling industry expected to reach 59.79 U.S billion dollars, gambling industries need to accommodate every currency. One advantage of using crypto-currencies over regular cash is that winnings reflect instantly. The most popular crypto-currency used in gambling sites include Bitcoin, Ethyreum, Dogecoin, and Altcoin, with the most popular being Bitcoin. In case your crypto is not supported by any local gambling site, then converting it to common crypto could be the best idea. It is noteworthy that one of the most significant advantages of using a crypto-currency is that users never incur any fees since the currency is not owned by any bank.

Multi-currencies

The most common multi currencies that are used by gambling sites are AUD, USD, Pounds, CAD, and Euros. When registering, it is crucial to pick a preferred currency; this is because most gambling websites won’t allow users to make changes on their currency afterward. Remember picking a foreign currency can reduce profits, so users end up losing a substantial amount during conversion to local currency. While most gambling sites will require users to set up their preferred currency during registration; some will give several currency options during gambling. The most common way that gambling sites address this issue is by splitting users’ wallet to different currencies. This allows users to choose their preferred currency. Alternatively, the gambling sites can combine them altogether, hence charging an extra fee for conversion.

Single currency

Gambling companies that are more local tend to use this method as their preferred currency option. For example, most New Zealand casinos tend to support the New Zealand dollar. It is still possible to gamble with another currency, but it will be a huge disappointment since it is inevitable that you will incur transaction charges. The benefit of using local currency is that transactions will be easy and your profit won’t be used up during conversion.

Conclusion

Picking the right currency can be the deal breaker when it comes to having a substantial profit margin. In case traveling is your forte, then a gambling site that supports a myriad of currencies can be a great plus. Digital currencies are the most preferred choice since no transaction charges are incurred. Therefore it is paramount to choose wisely.

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