Gambling in the Canadian Dollar
While in Rome, do as the Romans do – but when home in Canada it’s safe to say that most of us use the Canadian Dollar. The most apparent benefit of using your local currency is avoiding currency exchange rate fluctuations.
If you are playing at a real money online casino that doesn’t accept Canadian Dollars, you are subject to exchange rate fees along with an uncertain value dependant on exchange rates. The value of the C$, or CAD floats against other major currencies. The Canadian Dollar’s worth has fluctuated from 70% to 80% of the US Dollar since 2014.
Using a debit or credit card with an Online Casino whos payment provider doesn’t support the Canadian Dollar is dangerous. It’s dangerous as you will be subject to high currency exchange rates that vary according to the card issuer. Canadian bank cards transact in Canadian Dollars, so an online casino accepting that currency avoids additional charges and costs.
Paying the Price
If you fail to choose wisely, you risk paying the high price associated with currency exchange. It’s not enough to judge by appearances, as they are often deceptive. An online casino with a Canadian flag or Maple Leaf doesn’t necessarily mean it accepts Canadian Dollars.
Canadian imagery is often used to attract gullible players, and the site could easily be a fly-by-night casino. The currency isn’t the only thing to watch out for, and several other factors that affect players when it comes to fees are high deposit and withdrawal fees.
To avoid transaction and exchange fees – we highly suggest a localized method. If you have made an online payment before you are well aware of how smooth Interac works. It also works phenomenally well with Online Casinos. Every casino listed on Casino Fun has its payment methods reviewed and you can quickly find out if an operator is offering an interac online casino.
The Power of the Canadian Dollar
The Canadian dollar is considered strong for activities involving exchange and spending of the currency. North American facing online casinos place a high value on the importance of the Canadian market as some of the casino games are illegal south of the border.
For players, the C$ is the currency of choice, so many of them are happy to accept deposits made in this way. As a Canadian national, it is always advisable to stick to C$-friendly online casinos with a viable deposit option as it eliminates the risk of excess spending on conversion rates and related losses.
The convenience of C$
Be smart and do your research as it saves money. If you have the possibility of playing at a casino that meets the highest of standards and offers the prospect of gambling in C$, then it’s all for the better.
There are many such options readily available. At the same time, there are online gambling operators that are happy to accept Canadians but do not offer the possibility of betting in Canadian dollars. Luckily none of them can be found in our casino top list.
The majority are ready to perform the currency conversion themselves but don’t be fooled – there will always be a small fee in exchange.
Conversion rates can become pretty substantial with higher bets and long gameplay sessions. You will avoid excess costs by dodging such conversion fees, thereby getting more value on your deposit and gamble for higher chances of winning.