Danish Krone Bookmaker Banking Methods
To make sure you avoid exchange fees, you also need to deposit and withdraw funds
directly in Danish Kroner. Popular e-wallet companies like PayPal,EcoPayz, Neteller
and Skrill offer DKK balances and will work with most top Denmark betting sites and
offer a higher livel of privacy. Simply check the availability for these at each
site. Bank debit solutions like Trustly are also often available with DKK. Bank
transfers and credit cards and debit cards are almost universally supported.
Danish Gambling Authority and Officially Licensed Providers
Sports betting and online gambling within Denmark is a highly-regulated activity.
Danish authorities are highly concerned with issues of problem-gambling, protecting
minors and ensuring that proceeds from betting and gambling can be returned to Danish
society. As such, the Danish Gambling Authority works to license and oversee operators
that serve Denmark to ensure these objectives are met. All four of our listed providers
are in fact licensed to serve Denmark. Visit the Danish regulator for statistics
on the Danish gambling market, or if you are looking to find local help with regard
to problem gambling, including a self-exclusion register.
About the Danish Krone
Introduced on January 1, 1875, the krone, with sign: 'kr' and three letter code DKK,
is the currency of Denmark. It is subdivided into 100 øre. As the word ‘krone’
literally translates to ‘crown’ in English, some may refer to the currency as the
Danish crown. The krone is pegged to the euro via, the European Union's exchange
rate mechanism. While some in Denmark favoured the adoption of the Euro, a 2000 referendum
on joining the Eurozone was defeated with 53.2% voting to maintain the krone and
46.8% voting to join the Eurozone. Frequently used banknotes include kr.50, kr.100,
kr.200, kr.500 and kr.1000.
Danish Krone History
The earliest known coins in Denmark date back to the 800s AD. In 1619 a new currency
was introduced in Denmark, the krone (crown). Until the late 18th century, the krone
was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. A new krone
was introduced as the currency of Denmark in January 1875. It replaced the rigsdaler
at a rate of 2 kroner = 1 rigsdaler. This placed the krone on the gold standard at
a rate of 2480 kroner = 1 kilogram fine gold.
The introduction of the new krone was a result of the Scandinavian Monetary Union,
which came into effect in 1873 (with the coins being adopted two years later) and
lasted until World War I. The parties to the union were the three Scandinavian countries,
where the name was krone in Denmark and Norway and krona in Sweden, a word which
in all three languages literally means crown. The three currencies were on the gold
standard, with the krone/krona defined as 1⁄2480 of a kilogram of pure gold.
The Scandinavian Monetary Union came to an end in 1914 when the gold standard was
abandoned. Denmark returned to the gold standard in 1924 but left it permanently
in 1931. Between 1940 and 1945, the krone was tied to the German Reichsmark. Following
the end of the German occupation, a rate of 24 kroner to the British pound was introduced,
reduced to 19.34 (4.8 kroner = 1 US dollar) in August the same year. Within the Bretton
Woods System, Denmark devalued its currency with the pound in 1949 to a rate of 6.91
to the dollar.
The Danish Krone in World Currency Markets
The currency against which the Danish krone is most traded is the Euro: See DKK
to EUR rate now.