Beat: Party tries to rob the Brits

[Quagmyer]

No matter what way you do it, your always going to get screwed by exchange rate.

[CopTHIS]

It's the changing one way and then back again I'm not certain of. I'd rather play in $s, cos at least you know exactly what is going on etc. What happens if you change the whole lot to $s, then cash out some in local currency, then change what's left back? Do you lose on the switch?

Without thinking too deeply, I guess Party can't screw you too bad on switching within the site if they use the same rate to convert when you join and leave a table - because if that happened you could play a bit, break even, and still end up with less in your account despite the real exchange rate not changing.

[Flintoff]

[ QUOTE ]
No matter what way you do it, your always going to get screwed by exchange rate.

[/ QUOTE ]

That isnt true. Look again at what I wrote.



For example, I had $13732 in there this morning. To cash that out I would get £6548 go into my bank account.

BUT

If you update your profile and change your preferred currency to GBP from USD it magically changes to £6752. I can then just cash this out to my bank (£1.50 fee) and Party's FOUR HUNDRED BUCKS of charges just disappear!!!

[MilkMan]

This whole genius plan kind of hinges on the fact that Party actually give you a fair rate when they convert your account. Hmmm.

[CopTHIS]

I was told a little while ago by a friend that he had about 12k or something on a site (not sure which one) and 6 months later it was 20k without playing a hand. He just switched currency at good times (either because of the lag the site used or the rounding). I doubt that was Party, and I'm not sure he still does it, but it's not certain that all sites act in a [censored] way over converting monies.

[Jay Riall]

[ QUOTE ]
crap, ive been getting raped

[/ QUOTE ]

[Morrek]

for people not using eur/gbp as their homeland currency(like me from sweden), can we do anything about this or are we stuck using shtty exchange rates when cashing out?

[luckyjimm]

Sounds like you can in effect use Party to play the currency markets.

Let's say years ago back when it was $1.6 to £1 you deposited $20,000 then changed your account to sterling, you would have £12,500. Then when it hits $2 to £1 you change back to dollars, and it's worth $25,000. However your expected earnings from playing good poker at Party in this period would have been much higher than a measley five grand! And I'm sure the reason you have to email support to change currency more than once is precisely to stop this.

[notreallymyname]

The currency conversion charge applies to changing your account currency too (this is documented), feel free to change it repeatedly if you don't mind losing your roll 3% at a time.

[Noir_Desir]

He's still better off if he gets more for his cashout. Since his balance after cashout is zero, switching back doesnt cost him anything.