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#1
07-27-2005, 07:37 AM
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Crossing the border to gamble: Currency Exchange
I played for an evening at Casino Niagara and Seneca Casino.
I think that I lost 3.28% converting from $CDN->$US->$CDN again... This was incurred converting to US at seneca and to Canadian again at Casino Niagara. 
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#5
07-27-2005, 11:37 AM
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Re: Crossing the border to gamble: Currency Exchange
[ QUOTE ]
I'm also pretty sure Fallsview/Casino N has a better rate. I do all the converting there before or after border jumps. [/ QUOTE ] Hmm... can I convert $CDN to $US at fallsview / Casino N? If so, great!
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#6
07-27-2005, 11:40 AM
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Re: Crossing the border to gamble: Currency Exchange
[ QUOTE ]
I always convert at the same casino so you get the same rate. [/ QUOTE ] Not possible here: they don't convert USD to CDN at Seneca, though it would be possible if casino niagara / fallsview did conversions. However, getting the "same rate" won't really help you, as I would think that they charge a percent in both directions on the exchange... right? Therefore if one casino only exchanged one way and the other did both ways, you would STILL choose to do it one at each, if the casino that only did one way had a lower cut than the one that went converted ways.
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#8
07-27-2005, 12:23 PM
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Re: Crossing the border to gamble: Currency Exchange
[ QUOTE ]
Not possible here: they don't convert USD to CDN at Seneca, though it would be possible if casino niagara / fallsview did conversions. [/ QUOTE ] Helpful to know, I never have to convert money at Senaca. [ QUOTE ] However, getting the "same rate" won't really help you, as I would think that they charge a percent in both directions on the exchange... right? [/ QUOTE ] As far as I know they don't take points when they convert money it is the same rate both ways. I could be very wrong in this assumption though and hopefully someone will correct me. When I go to Fallsview I always take money out of my bank so I can get the best rate possible to Canadian. I'm sure I lose some when I have Fallsview convert back to American.
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#9
07-27-2005, 01:58 PM
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Re: Crossing the border to gamble: Currency Exchange
[ QUOTE ]
As far as I know they don't take points when they convert money it is the same rate both ways. I could be very wrong in this assumption though and hopefully someone will correct me. [/ QUOTE ] your assumption is incorrect. currency exchangers will have a buy price and a sell price, the sell price being higher. if you go buy $100 CAD with USD and try to sell it back immediately you will come up short. this is business after all.
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#10
07-27-2005, 03:20 PM
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Re: Crossing the border to gamble: Currency Exchange
[ QUOTE ]
[ QUOTE ] As far as I know they don't take points when they convert money it is the same rate both ways. I could be very wrong in this assumption though and hopefully someone will correct me. [/ QUOTE ] your assumption is incorrect. currency exchangers will have a buy price and a sell price, the sell price being higher. if you go buy $100 CAD with USD and try to sell it back immediately you will come up short. this is business after all. [/ QUOTE ] This is correct.
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