Multi-currency poker sites may be stealing from your accounts

[montauk]

I am not 100% sure of the following accusations i am making, but have not been provided with an answer from poker sites that i have used multi-currency on. Basically I believe they are using a similar scam as seen in the movie 'office space' where they steal unused decimal points in thousands of accounts to make thousands of dollars through fraud.

Firstly, I use GBP on noble poker and did a check on poker office to see if the amounts matched using a range of currency exchange rates. However, despite using the lowest and highes exchange rates from the past year, i would still be 10-20 dollars down. I couldnt work it out.

I contacted noble poker and havent yet had a response to my question which is this.

Hypothetically, lets say we enter a table and leave a table 100 times a session/day. We sign up using a random amount, say 44.68 GBP, which is converted at the given rate of the day, which hypothetically is (.41US for every GBP) this equals = 18.3188 US Dollars. However you are only credited with 18.31 US. Losing .88 of a cent. If you did this 100 times this equals about 75 cents. Double this for everytime you reverse exchange currency when you leave a table, and then it equals 1.5 dollars a day. meaning you could be losing $500+ a year through multi-currency exchange.

It is a sneaky, subtle way of ripping off customers, as there wouldnt be many who would be bothered figuring this out.

I would urge anyone with poker office or poker tracker who use a different currency than Us dollars, to do a check as to whether their accounts, even using the lowest currency exchange rate in the past few months, matches their office or tracker amount.

My solution to this would be simply, instead of rounding down every time, round up when the decimal points are above .005 to 1 cent, and round down when the decimal points are below .005 to 0 cents. Thus balancing this issue out in the long term.

I look forward to a response from any other posters or reps from poker sites.

thank you.

*

Edit/MH: Moved to nVg.

[captZEEbo]

Also wtf is up with poker sites that only allow full amount cashouts to neteller. So every site I used to play on still has like $0.65 just sitting there unusable. What a [censored] scam. There is apparently no problem with sending non-full $ amounts, but poker sites would rather just pocket the change.

[aceupthepants]

[ QUOTE ]
Also wtf is up with poker sites that only allow full amount cashouts to neteller. So every site I used to play on still has like $0.65 just sitting there unusable. What a [censored] scam. There is apparently no problem with sending non-full $ amounts, but poker sites would rather just pocket the change.

[/ QUOTE ]
BUSTO?

[Red Lion]

[ QUOTE ]
Also wtf is up with poker sites that only allow full amount cashouts to neteller. So every site I used to play on still has like $0.65 just sitting there unusable. What a [censored] scam. There is apparently no problem with sending non-full $ amounts, but poker sites would rather just pocket the change.

[/ QUOTE ]


You are kidding me right? You think the poker sites pocket your 65 cents? Are you [censored] kidding me???? You do realize when you redeposit your 65 cents is STILL IN YOUR ACCOUNT. These sites that make 100k-2mil a day + clearly are out to steal your quarters.

[captZEEbo]

[ QUOTE ]
[ QUOTE ]
Also wtf is up with poker sites that only allow full amount cashouts to neteller. So every site I used to play on still has like $0.65 just sitting there unusable. What a [censored] scam. There is apparently no problem with sending non-full $ amounts, but poker sites would rather just pocket the change.

[/ QUOTE ]


You are kidding me right? You think the poker sites pocket your 65 cents? Are you [censored] kidding me???? You do realize when you redeposit your 65 cents is STILL IN YOUR ACCOUNT. These sites that make 100k-2mil a day + clearly are out to steal your quarters.

[/ QUOTE ]well explain why they don't let you cash it out then? It's all computerized. Also, money left on the site will probably make SOME people come back, and also they get to earn interest off your quarters too.

Anything that's +EV for the site, might as well try.

They steal your quarters with small blackjack and sidebets.

[TheWorstPlayer]

i have no idea whether your problem is a real one or not. but your solution is not good. don't round the answers. who cares if that works out in the long run (assuming there is no way to bias it/game it)? they need a solution which works out EXACTLY. no rounding. obviously, it is possible. you think Goldman Sachs lets people round their FX trades off? LOL.

This should be TRIVIAL to check.

1) Check our balance.
2) Sit down at a $ table if you use british pounds.
3) Don't play a hand.
4) Sit up from the table.
5) Check our balance again. It should be the same as in step 1.

Try with a few odd amounts, like 15.23, 27.01, etc, just to make sure rounding isn't ever kicking in.

[Grasshopp3r]

This currency conversion issue has been going on since the beginning of currency. Check out how VISA and the other credit cards handle the issue and you will puke.