Czech Republic Online Casinos
The Czech Koruna dates way back to 1993 when it was introduced just after the dissolution of Czechoslovakia. Initially, the new currency was a stamped old Czechoslovakian Koruna notes until an entirely new currency was introduced later in 1993. Being a member of the European Union, the Czech Republic was set to change its currency to the Euro in 2010, but this plan was put off in 2005. As much as it might eventually adopt the Euro as its currency, many Czech Republican citizens are against this move.
Features of CZK Gambling
The Czech Republic online gambling and regulations are strict and restrictive, especially to the licensed online casino providers. The licenses are currently issued by the Ministry of Finance for almost all forms of online gambling. The Lottery act of 2012 made some exceptions to what form of online gambling can be allowed. There are five types of licenses that can be issued to any gambling operator in the Czech Republic that is Chance, Fortuna, Tipsport, Sazka, and Synot Tip. Some of the stringent rules against the online casino providers include a 20% tax cut on every winning plus 19% tax on the online casino provider. As much as the Czech Republic has strong legislation and rules to govern the gambling scene in the Republic, about 60% of the online Casino providers were believed to be unlicensed in 2016. After the outrage from the licensed operators and the European commission, new rules and regulations were put in place in 2017. This has led to a significant reduction in the number of unlicensed online casino operators in the Republic.
The gambling scene in the Czech Republic was a bit of a mess until the legislations were put in place in 2017. Ranging from the high taxes and the lack of action against the unlicensed online casino operators, the online gambling scene was headed for the worst, until 2017. The new laws and regulations have provided a safer environment for the Czech Republic players to participate in online gambling. Some of the advantages and benefits associated with gambling with the CZK include:
- ?Using the Czech Koruna in online casinos that are licensed allows you access to some of the biggest bonuses in the online gambling industry. These bonuses include up to 200% bonus on every deposit and special holiday and weekend bonuses.
- ?The other significant benefit is that many local and international online casino providers accept the Czech Koruna. Also, the Czech Republic players have a wide range of payment options to choose from.
As much as there are advantages to using the Czech Koruna in online casinos, there are also drawbacks. The main con is that your winnings are heavily taxed. Even most of the top international casinos do not offer their bonuses in Czech Koruna; hence currency exchange fees may apply.
Make Deposit with Czech Koruna.
There are many payment methods, both local and international, that are accepted and used by the Czech Republic players to deposit into their online casino accounts.
- ?SEPA (Single Euro Payments Area) - these is the brainchild of the European Union. It offers cross-border payments and withdrawals using both local currencies and Euros. It provides not only security but also efficiency to the online casino players using the Czech Koruna. For you to use this form of payment, you have to provide your Swift and Bank account IBAN.
- ?Credit and Debit Cards- this is another obvious option that is used by many Czech Republic online casino players. MasterCard and Visa are two of the most widely used credit and debit cards, globally. They are not only popular with online casino providers, but they are also safe and secure. The other debit and credit cards used to deposit Czech Korunas into online casinos include American Express and Maestro.
- ?Scratch Cards- this payment option is quite popular in the Czech Republic, where you buy a scratch card in a local shop, scratch to reveal the code then paste this code to the payment options page in your online casino account. Mint scratch cards are considered the safest and most popular payment options in the Czech Republic.
The other payment option that is also popular with the Czech Republic online casino players and operators is the e-wallets like Skrill and PayPal.
How to make online casino deposits with CZK currency?
- ?First and foremost, look for the best and most secure online casino in the Czech Republic or offshore that accepts and offers bonuses in Czech Koruna.
- ?Create an account with the online casino you have chosen and verify it.
- ?Log in to the registered online casino account and go to the payment page. Choose a payment option and enter your financial details.
- ?Enter the amount you wish to deposit and confirm the transaction. Depending on the amount, you might need to pass some more identification requirements before the transaction goes through.