Will online bingo halls and online bingo games operators be forced to drop the US dollar as a means of payment?

Given that a certain supermodel has recently decided she will not get out of bed for any dollars (Gisele, the world’s highest paid model now only accepts payment in anything but US dollars), is it time for online gaming companies to reassess their exposure to the falling US dollar?

Bingo online payments calculated in US dollars, whether games fees or prizes, are steadily losing their value in real terms for UK online bingo operators and players respectively.

Since the loss of the US market due to UIGEA, there have obviously been less customers who pay in US dollars, yet many online bingo halls still quote prizes in US dollars. While this may benefit the online bingo hall paying the jackpot, it actually can be seen as a loss for those UK players who win the prize. In other words, a US$ million jackpot ain’t what it used to be.

In fact, the US dollar has lost nearly 40% of its value against the Euro since the Euro’s introduction. Long known in financial circles as the world’s reserve currency, the US dollar is currently under immense downward pressure with muted talk of that it may be dropped by the oil industry as its currency of quote.

While this may not mean very much at this time for the bingo online industry in the UK where the vast majority of transactions take place in British Pounds, it may give some operators pause for thought if the US$ falls even further.

Written by John Witherspoon – Need the best online bingo games? BingoStreet.com collected the best online bingo promotions and free bingo games online.

This entry was posted on Wednesday, November 7th, 2007 at 2:25 am and is filed under Online Bingo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.