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Chilean Peso in History

The peso is Chile’s official currency. Its modern iteration started circulating in 1975, while its predecessor made rounds between 1817 and 1960. Today’s peso came as a replacement for the short-lived Chilean escudo, the region’s official currency between 1960 and 1975. The peso is subdivided into 100 centavos. What’s interesting about this is that while it does contain smaller units, there are no centavo coins in circulation. The smallest is the one peso coin that has been discontinued but still holds legal tender.

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When the Chilean peso denominations are in question, you’ll find ten currently in use. These include five banknotes and four coins. The five banknotes are 1,000, 2,000, 5,000, 10,000, and 20,000 pesos. The coins in circulation include 10, 50, 100, and 500 pesos. The currency has gone through many changes in value over the years. It was allowed to float with a crawling band for a few years before it was pegged to the US dollar at a fixed exchange rate. In 1999, the currency was allowed to float freely against the US dollar.

Safe Chilean Peso Casino Payment Methods

The Chilean peso might not be the most popular currency used for international transactions, but it’s still supported by plenty of big-name payment services. Of course, this makes things easy for players that want to use them at online casinos! The currency is a viable option in plenty of online gambling venues, but it’s a good idea to be wary when making transactions. Not all payment services are equal, and some offer more benefits than others. If you’re wondering which options are best for Chilean players, here are the top picks:

  • AstroPayCard: AstroPay Card is a go-to payment service for many Chilean casino fans. The service is pretty widespread in Central and South American countries, so it’s not hard to see why it’s such a favorite in Chile. AstroPay Card is a virtual prepaid debit card that can be loaded in several ways. Because of its nature, it gives players heightened anonymity when transacting online. It's also a convenient way to make payments! Unfortunately, it can’t be used for withdrawals, so keep that in mind before choosing this option.
  • EcoPayz: EcoPayz might be a UK-based eWallet, but it’s a popular banking option in Chile. There are many pros to using EcoPayz in online casinos. First, players needn’t share any personal banking information with the venue. Second, the service is reliable, safe, and has top-tier security. Last, EcoPayz offers users quick transactions for both depositing and withdrawing! The only con to this service is its availability. While it’s more widespread than some, the option is only available in several venues.
  • VISA: VISA is a powerhouse that most people have heard of. The bank card is well-established globally, making it a popular option in many online gambling sites. The perks of going with a method like VISA should be obvious. It’s widely available, it’s safe, and it’s reliable. Unfortunately, traditional methods like bank cards have been falling behind the competition lately. Compared to options like eWallets, they offer much slower processing times.
  • MasterCard: MasterCard is another bank card you’re likely familiar with. Just like VISA, this option offers players a safe and reliable way to deposit and withdraw from tons of online casinos around the world! The bad news is, it also suffers from the same cons. The processing times you’ll experience by using MasterCard are generally longer than those of most eWallets.
  • MuchBetter: MuchBetter is one of the biggest eWallets in the world. The service has gained tons of traction in Latin America lately, and that includes Chile. If you’re looking for an easy way to transact in online casinos, MuchBetter is an excellent option. It’s fast, safe, and has low fees! If you’re looking to make things even easier on yourself, you can download the app and take advantage of these benefits in a more conveniently laid out manner. Unfortunately, the cons of this service are similar to EcoPayz. At the moment, the service is only available in few venues.

Are Chilean Peso Casinos Legal?

Online gambling was prohibited in Chile until recently. In 2008, the country changed this when the Loteria de Concepcion and Polla Chilena were authorized to introduce their interactive gambling platform. The operator established a monopoly on several gambling activities, and today, it’s the only licensed onshore interactive gambling platform in the region! It’s worth noting that the operator only offers sports betting and lottery games. If you want to play other casino games and slots, you’ll need to visit an offshore operator.

Offshore operators are allowed to offer their services to Chilean citizens. On top of that, players won’t face any repercussions for using them! It’s worth mentioning that players are privy to player protection only if they play in the licensed onshore operator. If you’re playing at a foreign online casino, make sure it has an impeccable track record.

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