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Online Casino News - October, 2008

Cantor Gaming to Offer Uniform Currency at Online Casino



  Seed Newsvine

by Margaret Oliveira, News Staff Writer

October 23, 2008

Cantor Gaming - affiliate of global financial services company, Cantor Fitzgerald - has issued a press release announcing they will no longer conduct currency conversions just at the time of withdrawal requests made at their online casino and gaming sites, including Cantor Casino, Cantor Poker and Cantor Financial Odds. To the online gambler who doesn't know what this entails, don't fret. This is actually a very good thing.

First off, if you're from the U.S., don't concern yourself with Cantor Casino, 'cause guess what? You can't open an account there. However, if you reside anywhere in Europe, well then, get out your Euros. Instead of just offering currency conversions at the time of withdrawals, Cantor says they will be allowing players to wager in their currency of choice.

Why is this such a huge deal you ask? Well, what most online gamblers don't even know is that although they can deposit funds with their currency of choice (most often British Pounds, Euros or Dollars), many online casinos use a default currency for placing wagers. In other words, a player who deposits British Pounds will have to view his or her account balance in the default currency, which is most often in Dollars.

Generally, the online casino cashier would simply convert the play balance back into the initial deposited currency when a withdrawal request is made. Obviously, this has the potential of getting confusing, and so Cantor decided it made good sense to keep currency uniformity across their entire software platform.

A spokesperson for Cantor Gaming said that with the rise of European players frequenting their online betting sites, there has been a growing demand for a true "Euro" betting account. Considering that, in addition to credit cards, Cantor accepts deposits through two of the most widely used eWallets in Europe - Neteller and MoneyBookers - prospective bettors are going to be even more tempted to open real money accounts at Cantor Casino.



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