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Old 12-15-2005, 12:11 AM
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Default Crypto conversion rates?

Ive always played dollar tables on Crypto. Do you get screwed on the pound/dollar conversions when buying in and cashing out, or is it a neutral transaction?
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  #2  
Old 12-15-2005, 01:34 AM
KnickNut3 KnickNut3 is offline
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Default Re: Crypto conversion rates?

Nah. I just did some today, made all the calculations in PT and on my spreadsheets with the current rates on x-rates.com, and my balance came out to the penny (or pence, whatever 1/100 of a pound is).

The only time you get screwed is cashing in and out via Neteller to ukBetting, totalbet, and Littlewoods, which is why I try to leave a balance in there.
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Old 12-15-2005, 01:40 PM
groo groo is offline
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Default Re: Crypto conversion rates?

[ QUOTE ]
The only time you get screwed is cashing in and out via Neteller to ukBetting, totalbet, and Littlewoods, which is why I try to leave a balance in there.

[/ QUOTE ]

Well not the "only" time. When you leave a balance and the dollar gets stronger, the pounds you leave in those accounts are suddenly worth fewer dollars. This has happened about 5 of the last 6 months to me. I finally pulled my balances and the dollar went down, so I got screwed three times. First by the stronger dollar then by difference in exchange rates on withdrawal. Then by losing what I'd have made by maintianing those balances while the dollar fell. Oh well, profitable anyhow [img]/images/graemlins/smile.gif[/img]
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Old 12-15-2005, 01:53 PM
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Default Re: Crypto conversion rates?

Im sorry im confused by your comment. What I want to do this this: Buy into a pound table with dollars. Play. Cash out from pounds and go back to dollars. I want to face no FX risk or exhange rate vig when doing this. In other words, if I bought in with $500, sat down, and then left without posting a blind or playing a hand, would I get paid back $500 when I left the table?
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Old 12-15-2005, 01:59 PM
Sniper Sniper is offline
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Default Re: Crypto conversion rates?

You would have no FX risk during a session... when you buyin just jot down the exchange rate thats listed there, so you can load that rate into poker tracker.
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Old 12-15-2005, 02:21 PM
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Default Re: Crypto conversion rates?

You might want to call them to see how often they update their exchange rates. Some companies change once per day. Any McDonald's here in Canada only updates every once in a while.
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  #7  
Old 12-15-2005, 03:51 PM
stoxtrader stoxtrader is offline
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Default Re: Crypto conversion rates?

my understanding has always been that your reverse excahnge rate is locked in once you sit, no matter how long yo uplay. they do not make money on the conversion or subject you to market risk that i know of.
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  #8  
Old 12-15-2005, 05:25 PM
HRFats HRFats is offline
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Default Re: Crypto conversion rates?

You risk nothing from the conversion rate on Cryptos when joining a table. It even states it when you buy-in I believe. The problem is that the max rake in pounds is higher than in dollars because if the max rake is $5 on the dollar sites, it's 5 pounds on the pound sites. Plus you get slammed by neteller but they need to make a buck so I don't mind.

Now if you leave money in one of the BP sites for a few days and the dollar gains vs the pound you will lose some equity. But you gain if the dollar loses so it's probably not worth worrying about too much.

In all, I have found the pound tables far more profitable than the US$ tables.
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