How currency conversion affects payments

In online casinos operating with different currencies, the total winnings may change due to conversion. Even if you have won a large amount, its size upon withdrawal depends on the exchange rate and the commission charged by the payment system or the casino itself.

1. Double conversion is the main source of losses

The greatest losses occur when the account currency differs from both the game currency and the withdrawal currency. For example, if you have an account in AUD, the game is played in USD, and the output is carried out to the card in EUR, a double or triple conversion may occur. Each conversion is accompanied by a loss of part of the amount.

2. Exchange rate impact

The casino rate often differs from the market rate - the difference can be 1-5%.
The bank rate when transferring to a card may also be less profitable.
Even small deviations of the course at large amounts become noticeable.

3. Exchange fees

Even with a minimal difference in the exchange rate, payment systems and banks can charge fixed fees. Exempli gratia:

• Bank fee for currency conversion (0.5-3%).
• Payment service commission (for example, Skrill, Neteller, PayPal) - up to 4%.
• Hidden markups during automatic conversion in POS systems.

4. Internal conversion to casino

If the casino does not directly support your currency, it can automatically convert the deposit and withdrawal to the platform's "primary" currency (usually USD or EUR). At the same time:

• The course is set by the casino itself.
• In some cases, an additional commission is applied, which is mentioned only in the rules.
• Often the rate is fixed at the time of the transaction, which may be profitable or unprofitable depending on the market situation.

5. How to minimize conversion losses

Choose a casino that supports your currency (AUD for Australians).
Use payment methods that allow you to keep funds in the desired currency.
Avoid double conversion by matching the currency of the account and withdrawal so that they match.
For large withdrawal amounts, check the current rate and, if necessary, change currency in advance at a bank or exchanger with favorable conditions.
Consider cryptocurrency as a way to circumvent bank conversion (but factor in volatility).

Conclusion:

• Currency conversion can significantly reduce the final payment to the player, especially with large amounts. Competent choice of account currency, payment system and withdrawal method helps to avoid unnecessary losses and maintain maximum winnings.