Currencies and Pokersites

    • phoenix500
      phoenix500
      Bronze
      Joined: 19.09.2009 Posts: 253
      Hey there
      so Ive got a bit of a problem or rather im worried:
      Ive been playing for around 3 years quite successfully but I took a break so I could take time studying before I graduate.

      Anyway, I play at FullTilt and those guys - so it seems - refuse to adapt a multicurrency system. I live in Germany, so obviously my day to day currency is going to be €, but since the $ is just falling and falling I am quite scared of re-depositing my bankroll into FTP, since its a quite substancial amound - one where currency fluxuations would make a difference.

      So does anybody know wether FTP is going to make a difference in their system or does anybody know a alternative site where I could play in € or could have my playing money backed by €.

      Please do not tell me not to worry about the changes in currency, the US government is not stopping printing money so naturally the currency is going to fail in the near future.

      Oh I cant play on Pokerstars btw.

      Thanks,
      Daniel
  • 2 replies
    • Fagin
      Fagin
      Bronze
      Joined: 06.05.2008 Posts: 544
      William Hill allow deposits in £, $ and Euro and you can keep your account in any of these currencies while playing in all of them. Winnings are converted back to your primary currency at the same rate at which you bought in to the tourney or cash table.

      Not sure of other sites arangements.
    • Wurble
      Wurble
      Silver
      Joined: 04.04.2009 Posts: 456
      Ipoker? lol

      The currency won't fall all that much more. It's unlikely to get much beyond $2 to 1 euro but it's possible I guess.

      You could hedge your money with a forex broker... Open an account with fxcm micro and drop a few hundred dollars in then place a long trade on eur\usd for whatever amount you'll need to cover the amount you're depositing on FT and leave the trade on until you withdraw. You would need to pay a spread and rollover charge for keeping the trade open for so long but it wouldn't be much unless you're planning on depositing 10k+.

      EDIT: If you decide to hedge, please do some research on it first lol. It's definitely an option but if you screw it up you could get stung.