View Poll Results: In what currency do you receive most of your affiliate payments?

Voters
24. You may not vote on this poll
  • Australian Dollars

    0 0%
  • Bitcoins

    3 12.50%
  • Canadian Dollars

    0 0%
  • Euros

    14 58.33%
  • New Zealand Dollars

    0 0%
  • Norwegian Kroner

    0 0%
  • Pounds Sterling

    1 4.17%
  • Russian Rubles

    0 0%
  • Swedish Kroner

    0 0%
  • United States Dollars

    6 25.00%
  • Some Other Currency

    0 0%
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  1. #1
    MichaelCorfman's Avatar
    MichaelCorfman is offline GPWA Executive Director
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    Question In what currency do you receive most of your affiliate payments?

    Online gaming sites operate in a wide variety of currencies (265 different currencies according to iGamingDirectory.com). And affiliate programs offer to pay affiliates in quite a few different currencies as well (if only by moving affiliate earnings into player accounts and withdrawing them from there).

    For this week's poll I decided to ask folks in which currency you receive most of your affiliate earnings. In the poll itself, I've listed the top 10 currencies offered by online gaming sites. Here is that list organized by popularity:

    1. Euros (offered by 2,663 sites)
    2. United States Dollars (offered by 2,036 sites)
    3. Pounds Sterling (offered by 1,817 sites)
    4. Canadian Dollars (offered by 1,085 sites)
    5. Swedish Kroner (offered by 833 sites)
    6. Norwegian Kroner (offered by 670 sites)
    7. Australian Dollars (offered by 653 sites)
    8. Bitcoins (offered by 518 sites)
    9. New Zealand Dollars (offered by 425 sites)
    10. Russian Rubles (offered by 422 sites)


    Besides voting for your top currency in the poll, be sure to share in a post your view of receiving payments in different currencies and how that has changed over time.

    Michael
    GPWA Executive Director, Casino City CEO, Friend to the Village Idiot
    Resources for Affiliates: iGamingDirectory.com, iGamingAffiliatePrograms.com, GamingMeets.com

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  3. #2
    MichaelCorfman's Avatar
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    For Casino City, we receive affiliate payments in Pounds Sterling, Euros, Bitcoins and United States Dollars. Years ago we used to receive all of our payments in United States Dollars into a US bank account. We had progressively more trouble getting paid that way, and so we opened up overseas bank accounts in the three fiat currencies noted above back in August of 2013, just a little over six years ago. We started accepting payment in Bitcoins back in September 2016. The impetus was that it was the only way Betting Partners would pay us our affiliate commission.

    Today we receive most of our affiliate payments in Euros, Pounds Sterling is next, then bitcoin, and last place is United States Dollars. We try to receive payments in a fashion that minimizes the payment of bank fees. Ultimately, we convert most of the payments we receive into United States Dollars, but we usually do that only once a month, and have made special arrangements with a company that specializes in providing currency conversion services in order to minimize the cost of such conversions.

    Michael
    GPWA Executive Director, Casino City CEO, Friend to the Village Idiot
    Resources for Affiliates: iGamingDirectory.com, iGamingAffiliatePrograms.com, GamingMeets.com

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  5. #3
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    Quote Originally Posted by MichaelCorfman View Post
    in order to minimize the cost of such conversions.

    Michael
    That's one of the problems and I think many underestimate what they lose through currency conversions. At one program for example, the stats are reported in USD. But withdrawal by bank wire is only possible in EUR. So they convert it and I lose about 1.5% on FX fees on their end. Then I have to exchange the EUR into my local currency.

    Skrill and Neteller are even worse. When I get paid EUR to my Skrill USD account, they convert it with about 4% loss. When I withdraw the USD, they convert it again to EUR as they don't do USD payments to my country. Then I have to exchange the EUR into my local currency. So I lose nearly 10% when getting paid in EUR to Skrill/Neteller. That's why I try to avoid them if possible.
    "Semper paratus!"
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  6. #4
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    I receive most of my payments in Bitcoin and this is the easiest payment method that affiliate programs offer these days to both their players and affiliates.

  7. #5
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    I received most of my payments in USD and a few in BTC.

  8. #6
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    Euro.

  9. #7
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    Euros or GBP
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  10. #8
    IWcasino is offline Public Member
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    Euros mostly for me.
    Regarding the issues with currency conversions etc - I strongly advise trying TransferWise
    With it, you can receive wire transfers in several currencies, the FX rates are minimal, in many regions you can also get a multi-currency card attached to your account, or you can withdraw funds in any currency into your bank account with ridiculously low transaction fees (e.g. I pay 63 euro cent for sending any amount t of euros to my bank account)

  11. #9
    Mattbar's Avatar
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    Euros mostly, then UK pounds then dollars. Being UK based this has made for a fun game over the last 3 years with Brexit going on as the payment date can have a big effect on the conversion rate.

  12. #10
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    Euros mostly for me as well.
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  13. #11
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    Euros only! Have wanted to try BTC for some time but never got around to setting wallet etc due to work load.

    Any input from you guys on your experience with BTC (or altcoin for that matter), please shoot. Obviously much more to take into account than just exchange rates there...
    Τα πάντα για στοίχημα και livescores

  14. #12
    newcustomeroffer is offline Public Member
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    GBP primarily, then Euros and US Dollars in that order.

    Got sent a physical cheque through the post a few months back in US Dollars, that was fun getting it into a UK bank account after losing a chunk of the value and waiting weeks for it to clear!

  15. #13
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    EUR here, at the moment all the programs I work with pay me in euro straight to my company bank account. This is the best and cheapest solution for me.
    In the past one of the companies was paying me in GBP, the bank always charged a lot of commission on that.

  16. #14
    Christiaan's Avatar
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    Quote Originally Posted by MichaelCorfman View Post
    We started accepting payment in Bitcoins back in September 2016. The impetus was that it was the only way Betting Partners would pay us our affiliate commission.
    Do you submit the bitcoin payments also to your tax declaration? What exchange amount do you use for that? The bitcoin is so "unstable". I think my accountant wants to kill me if I come with bitcoin payments

  17. #15
    casinobonusguy is offline Private Member
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    Quote Originally Posted by Christiaan View Post
    Do you submit the bitcoin payments also to your tax declaration? What exchange amount do you use for that? The bitcoin is so "unstable". I think my accountant wants to kill me if I come with bitcoin payments
    We get USD ,Euros and Bitcoin .For bitcoin we withdraw it to a personal account used specifically to receive incoming biz payments but then we immediately transfer the full amount to our Canadian Biz account and pay all income tax on the amount.
    As for accounting we claim it as commission sales and the value is the net amount received after some bank fees ($17.50 to receive incoming wires)

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  19. #16
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    Euros, GBP then Bitcoin these days, back when I first started out it was mostly USD. I can't remember which program it was, but one of my biggest used to pay by cheque, UPS used to deliver it every month.
    "Many of life's failures are people who did not realize how close they were to success when they gave up"

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  20. #17
    fullbenefit is offline Public Member
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    Euros, it should be a default currency from now on.

  21. #18
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    Due to the casinos and offerings most of our payments are paid in Euros followed by Canadian, USD then Bitcoin.

    Being in Canada we do have difficulty to be paid via bank wire so Bitcoin is a good option. Unfortunately this does not always work either. Skrill is not viable for us.
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  22. #19
    casinobonusguy is offline Private Member
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    Quote Originally Posted by Pokerface View Post
    Due to the casinos and offerings most of our payments are paid in Euros followed by Canadian, USD then Bitcoin.

    Being in Canada we do have difficulty to be paid via bank wire so Bitcoin is a good option. Unfortunately this does not always work either. Skrill is not viable for us.
    Not sure who you bank with but we get wires with TD and CIBC without issue in fact we prefer wires as much faster than other solutions.

  23. #20
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    We deal with BMO (not my favorite). Usually the affiliate programs tell us they can't do bank wires to Canada. We use ePayments as a another option then transfer to bank.
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