Account Currency for Arbitrage Bettors: One Wallet, Many Bookmakers, No Conversion

Why does account currency matter for surebets?

One currency conversion at Skrill's 4.49% costs more than seven median surebets: converting 1,000 costs 44.90, while a 0.61% surebet on 1,000 of total stakes earns 6.10. The median comes from 24,052 matches we went through in what is arbitrage betting; a good surebet pays 1–3%, and conversion wipes that out as well.

Fees from Skrill's fee page, Neteller's fee page, Skrill VIP and Neteller VIP, checked on 27 October 2026. Amounts in the currency you convert from.

Some older guides still quote 3.99% for Skrill's conversion; Skrill's fee page says 4.49%. The cost doubles when money goes out and comes back. Euros converted to dollars for a bookmaker and the winnings converted back lose about 8.8% at Skrill's standard rate (1 − 0.9551 × 0.9551) and up to about 7.8% at Neteller's. Our first arbitrage lessons in 2011 gave the same rule that still holds: open every account in one currency. The VIP rates in the table, and what it takes to reach them, are in Skrill and Neteller VIP for high-volume bettors.

Where do Skrill and Neteller convert without asking?

Skrill and Neteller convert money automatically in five situations their help pages describe (Skrill, Neteller, checked on 27 October 2026), and each of them can cost you the conversion fee.

1. Money arrives in a currency you do not hold. It is credited to your primary balance after conversion. A bookmaker payout in dollars into a wallet that holds only euros is converted on arrival.
2. You top up by bank transfer. Skrill processes bank wire deposits in your primary currency; Neteller warns of a conversion fee when your bank account's currency differs from it.
3. You withdraw from a secondary balance. The withdrawal is processed in the currency tied to your bank account's country, not the one you picked. A dollar balance withdrawn to a euro bank account is converted.
4. You pay by card. The Skrill Prepaid Mastercard and the Net+ card, like crypto transactions, use only the primary balance. If it is short, you have to exchange money into it first.
5. You deposit in a chosen currency. The deposit may still be processed in another currency; the summary screen shows which before you confirm.

The bookmaker side adds one more. When the currency you pay from is not the currency of the bookmaker account, someone converts it, the wallet or the bookmaker, and you pay a spread either way. Stakes calculated as if both accounts were in the same currency are one of the errors in arbitrage betting risks.

Can a Skrill account hold several currencies?

Yes: every Skrill account can hold secondary balances in other currencies next to its primary one, with no limit on how many, and the minimum exchange is EUR 0.50 or its equivalent, according to Skrill's support page checked on 27 October 2026. The primary currency cannot be swapped for a secondary one.

A Skrill secondary balance appears in three ways:

• Exchange. You convert money in the Exchange section, also in the app, and a separate secondary balance is created.
• Add money. You pick the deposit currency from a drop-down when you top up.
• Money Transfer. Sending a Skrill Money Transfer in a currency other than your primary one creates a balance in that currency.

Separate from secondary balances, Skrill's VIP levels add currency accounts: one more at Silver, two at Gold and three at Diamond (Skrill VIP, checked 27 October 2026). Depending on the VIP level, Skrill also lets some customers hold several active accounts in different currencies (Skrill support). When we wrote about Skrill in 2012, a second currency needed VIP status. Today any account can hold secondary balances; a second account in another currency still depends on VIP level.

How do you add a currency to Skrill?

You add a currency to Skrill by exchanging money into it in the Exchange section, or by choosing it when you add money; Skrill then creates a secondary balance, shown on your Dashboard (Skrill support, checked 27 October 2026).

1. Open Exchange, choose the currency you need and enter the amount. Once the exchange completes, the new balance is on the Dashboard.
2. Or open Add money, pick the currency from the drop-down and check the summary screen, which shows the currency the deposit is really processed in.

Both routes cost something. An exchange pays the 4.49% conversion fee, and a bank transfer top-up goes into the primary currency anyway. The cheapest way to fill a secondary balance is with money that already comes in that currency, such as payouts from bookmaker accounts kept in it. Once you hold a balance in a currency, incoming money in that currency lands there without conversion.

A small trick that follows from Skrill's rules: open the balance before the first payout arrives. The minimum exchange is EUR 0.50, and 4.49% of it is about two cents. After that, a dollar payout from a bookmaker stays in dollars instead of being converted into your primary balance.

Can you change the currency of a Skrill account?

Not directly: Skrill cannot switch your primary currency, so changing it means emptying and closing the account and registering a new one with a different email address, as Skrill's support page explains (checked 27 October 2026).

1. Withdraw or spend the whole balance, including any crypto.
2. In a web browser, go to Settings, Account Settings, Account Status and Close Account. The app does not offer this.
3. Register a new account with the currency you want as primary, using a different email address.
4. If the new account cannot reuse your payment methods or phone number, ask Skrill through its contact form.

You lose access to the old transaction history, and a Skrill card linked to the old account is deactivated. Keep the order: close first, then register, because Skrill's terms forbid more than one account in your name unless Skrill allows it. Plan the switch for a quiet week, with no surebet money waiting at bookmakers that pay out to the wallet. Our 2013 guide on closing and reopening a Skrill account advised asking support to carry the verification level over; today's help page sends you to the contact form only for payment methods and phone numbers.

How do you change the currency on Neteller?

Neteller follows the same rule: the primary currency cannot be switched, and changing it means emptying the balance, closing the account in a web browser and registering again with a different email address (Neteller support, checked 27 October 2026).

• What you lose. Access to the transaction history, and the Net+ card linked to the old account is deactivated.
• The currency at sign-up. You choose it from a list when you register (Neteller terms of use, section 9.1, valid from 5 March 2026), so pick the currency of your bookmaker accounts.
• Secondary balances. Neteller creates one when you exchange money in the Exchange section or deposit in a chosen currency. There is no cap on their number and the minimum exchange is USD 0.50 (Neteller support).
• What stays on the primary balance. Net+ card payments and crypto transactions cannot use a secondary balance.
• Incoming money and withdrawals. Money in a currency you do not hold goes to the primary balance after conversion, and a withdrawal from a secondary balance is processed in the currency of your bank account's country.
• VIP accounts. Neteller's VIP FAQ lists a multi-currency account as a benefit, and depending on the level, VIP customers may hold several active accounts in different currencies.

Neteller's conversion fee is up to 3.99%, and 3.19% to 1.29% at its VIP levels. Its currency converter lists 47 currencies. More on the wallet itself is in our Neteller review.

Skrill and Neteller currency rules side by side

Skrill and Neteller handle currencies almost the same way; the differences are the conversion fee, the minimum exchange and the extra currency accounts that Skrill's VIP levels add.

Sources: Skrill support on balances and on changing currency, Neteller support on balances and on changing currency, Neteller VIP FAQ, both fee pages and both VIP pages, checked on 27 October 2026.

How should you plan currencies across bookmakers?

Plan around one base currency: the currency of your bank account, opened as the primary currency of your wallet and chosen at every bookmaker that offers it.

1. Pick the base currency. Take your bank account's currency if most of your bookmakers offer it. If your national currency is a less common one, you trade fewer bookmakers against an exchange rate risk: an account in euros or dollars opens more bookmakers, but its value in your own currency moves with the rate.
2. Open the wallet in it. The primary currency is what bank transfer top-ups, card payments and unmatched incoming money use. If you are starting out, open a Skrill account with the base currency as primary, since you cannot switch it later.
3. Open bookmaker accounts in it. Bookmakers usually ask for the account currency at registration, and their terms decide whether it can be changed later. Check before you sign up, not after the first deposit.
4. Ring-fence any second currency. For a bookmaker that offers only another currency, open a secondary balance in it first, deposit from that balance and let payouts come back into it. Convert only the surplus, not every payout.
5. Consider a second wallet for a second circle. Each wallet has its own primary currency, so a bettor with money in two currencies can keep Skrill in one and Neteller in the other, each funded from a bank account in its currency. Do not move money between them: a transfer either way costs 3.49%.
6. Put the currency into every split. Calculate stakes in one currency, or convert the stake of the foreign leg yourself before you place it. The surebet calculator splits stakes once the amounts are in the same unit.

A worked example. A bettor has a euro bank account, eight bookmaker accounts in euros and two in dollars, and moves USD 3,000 through the dollar accounts in a quarter. Converting it out and back at Skrill's standard rate costs about USD 270 (4.49% twice on USD 3,000). Keeping a dollar balance in the wallet, letting the payouts come back into it and converting only a USD 1,000 surplus at the end of the quarter costs USD 44.90. How to spread money across accounts in the first place is in how to start arbitrage betting.

One limit no currency plan fixes: bookmakers restrict accounts by betting pattern, not by currency, as we explain in bookmaker limits. Our Skrill review covers the rest of the wallet's fees from an arber's side.

Summary

Account currency is a cost you set once and pay on every transfer if you set it wrong. Skrill converts at 4.49% and Neteller at up to 3.99%, so one conversion of 1,000 eats about seven median surebets, and a round trip costs about 8.8% at Skrill. Both wallets hold secondary balances on any account, with no limit, but neither can switch the primary currency without closing the account and registering again with a new email address. Money in a currency you do not hold, bank transfer top-ups and card payments all run through the primary balance. Pick one base currency for wallet, bookmakers and bank, ring-fence any second currency in its own balance, and convert only the surplus.

Whatever currency you bet in, set a deposit limit at every bookmaker and stop when you reach it; help is available at BeGambleAware.

FAQ

Can I have multiple currencies in one Skrill account?

Yes. Every Skrill account can hold secondary balances in other currencies next to its primary currency, with no limit on how many. The primary currency itself cannot be switched.

How do I add a currency to Skrill?

Open the Exchange section, pick the currency and exchange an amount, or choose that currency when you add money. Skrill then creates a secondary balance on your Dashboard; an exchange costs the 4.49% conversion fee.

Can I change my Skrill account currency?

Not directly. Skrill's help page says you have to empty and close the account in a web browser and register a new one in the currency you want, with a different email address, losing the old transaction history.

How do I change the currency on Neteller?

The same way as at Skrill: withdraw or spend the balance, close the account in a web browser and register again with a different email address. For a second currency without closing anything, open a secondary balance in the Exchange section.

What currency should my betting accounts be in?

The currency of your bank account, if most of your bookmakers offer it. Keep the wallet's primary currency and every bookmaker account in that one currency, and conversions disappear from your costs.

Does Skrill convert money when a bookmaker pays out in another currency?

Yes, if you do not hold a balance in that currency: the payout is credited to your primary balance after conversion at 4.49%. If you already hold a secondary balance in that currency, the money lands there unconverted.

How much does Neteller charge to convert currency?

Up to 3.99% on a standard account, according to Neteller's fee page checked on 27 October 2026. VIP levels pay 3.19% (Silver) down to 1.29% (Exclusive).

Can I open a second Skrill account in another currency?

Only if Skrill allows it: its help page says VIP customers may hold several active accounts in different currencies, depending on their level. Otherwise its terms allow one account per person, and secondary balances do the job.