Titan scamming users of other currencies on micro limits?

    • rowzee
      rowzee
      Bronze
      Joined: 24.08.2008 Posts: 151
      Lately I have been playing $0.20+0.04 SNG's on Titan. Since I have a Euro account, the BI costs me 0.17EUR (exchange rate: 0.17/0.24=0.7083). I became wary of Titan's claim that the exchange rates do not change during the games once I started to place 2nd in these SNG's for a prize money of $0.60. The reason was that I only received 0.40EUR for placing second (exchange rate: 0.40/0.60=0.667) with an essentially much worse exchange rate. So, every time I played these SNG's I was losing money. I contacted the support and they assured me that the exchange rates indeed do not change during the games. What does change on micro limits, though, is that if the BI is under $1 (or 1EUR whichever, I don't know) that their system innocently "rounds off" the sums. Here is a record of my conversation:

      HERO: Hello, I have a question concerning the euro account that I have here on Titan

      Zach: I apologize for the long wait. We try to attend to all our players the quickest possible time. My name is Zach and I’ll be glad to assist you with your concern.

      HERO: When I play the $0.20+0.04 SNG's, $0.24 equals Euro 0.17 which is an exchange rate of 0.7083, however, when I place 2nd in these SNG's I get paid $0.60 which is equaled to Euro 0.40, making it an exchange rate of 0.667.

      Zach: Hi, HERO! How can I help you today?

      HERO: Why is that so? I thought that the exchange rate doesn't change in the middle of a game.

      Zach: Yes, HERO, the same exchange rate is applied on your money when you entered and left the table or tournament.

      HERO: For example, yesterday I had a session of 5 of these SNG's, lost 3 of them and places 2nd in the rest of the two thus making it a brake-even session, however there were about Euro 0.07 less on my account

      HERO: Just now I finished a session of 4 SNG's, lost 2 and placed 2nd twice, I had a balance of 12.24 euros during the games, and now I have a balance of 13.04 Euros (2*$0.60 for 2nd places which was equaled to Euro 0.80 with an exchange rate of 0.80/1.20=0.667

      HERO: However, when I bought in for $0.24, Euro 0.17 was taken from my account for each of the games (0.17/0.24=0.7083)

      HERO: Anyone still there?

      Zach: I am still here.

      HERO: So, can I excpect some kind of a clarification on this matter? Is anyone going to validate what I'm saying is ture?

      HERO: *true

      Zach: We assure you that the same exchange rate is applied when you entered and left the table.

      [b]Zach:[/b] However, since the buy in + fee and the prize you won is less than a dollar or Euro. The amount is automatically rounded of by our system.

      Zach: To help clarify this, I can suggest you send us an email to support@titanpoker.com.

      HERO: Oh, now that makes sense, so, I,m actually loosing money on the micro limits (The buy in of $0.24 should be 0.16 EUR instead of 0.17 EUR for the exchange rate to be the same)

      [b]Zach:[/b] You are not loosing money, HERO. We do not have fees for exchange rates.

      HERO: The rounding system makes me loose money, thank you for your response

      Zach: I perfectly understand that.

      Zach: Is there anything else I can help you with?



      So, whenewer I'm playing on these limits, I lose 0.04167 EUR for every dollar that I put through the system whether I like it or not.
  • 11 replies
    • Nabukadnezar
      Nabukadnezar
      Bronze
      Joined: 18.09.2008 Posts: 65
      I made the same mistake as you, I've chosen to show balance in EUR. Apparently is not very easy to change it back to US$, you must create another account :(

      The rounding exists at the bigger limits too. 5.5$ is 3.75 EUR on Titan, instead of 3.7412.
    • rowzee
      rowzee
      Bronze
      Joined: 24.08.2008 Posts: 151
      Yeah, it's so unfair, my ROI on SNG's drops for 5-7% because of this.
    • gaz639
      gaz639
      Bronze
      Joined: 03.05.2008 Posts: 506
      i also have this problem, i chose £ instead of $ and i asked about changing my currency back and they said you have to close the account and create a new one for the change to take effect but you lose all titan points and bonuses registered to that account, so in other words you have to lose all of your titan points and pending bonuses to change this, i am not sure if this would effect the pokerstrategy bonus though? could you just register the new titan account here and have it tracked again or would it come up with some sort of error?
    • slikec
      slikec
      Global
      Joined: 04.02.2008 Posts: 1,155
      Indeed account have to be in same currency as money on tables. All providers earn money with exchange. I have € at Titan and every time i leave table i lose 0,01€ (euro cent). Just check balance at cashier when you have money on table leave table and check balance when it refresh. So far i lost that way bunch of money i am sure.

      Now i have problem with moneybookers. So far they always exchange at quite same rate as it was on forex but last two transactions they used 1,5$ € ration instead of 1,47 :( Crap everywhere as it looks :(
    • Nabukadnezar
      Nabukadnezar
      Bronze
      Joined: 18.09.2008 Posts: 65
      it would be a good idea then after I receive my bonus of 100$ to create another account on US$ with the pokerstrategy affiliate, right?
    • Chiller3k
      Chiller3k
      Bronze
      Joined: 16.06.2007 Posts: 4,326
      Hi Nabukadnezar,

      what do you mean by: "crate another account on US$" ?
      Do you want to create a new account at titan poker?
      That would be against Titans terms of agreement. I'm not sure how it works when you want to change your currency on titan. Maybe you should ask the titan support about it.

      Bes regards,
      Chiller3k
    • Nabukadnezar
      Nabukadnezar
      Bronze
      Joined: 18.09.2008 Posts: 65
      that's like the first thing I asked the support after I started playing there and realized I had selected EUR by mistake :(
    • One12ver
      One12ver
      Bronze
      Joined: 22.05.2008 Posts: 249
      I have also noticed that playing cash tables you loose 2-3c when you close a table, does anyone know why? Is this exchange rate or a "tip" to the dealer?


      Good work on noticing this rate problem rowzee.
    • gaz639
      gaz639
      Bronze
      Joined: 03.05.2008 Posts: 506
      titan do it for u chiller with what they said to me, u have to take all of your money out and then they close it and u create or they create a new one, u can keep the same username as far as i know, you just lose ur points and bonuses
    • pectusthame
      pectusthame
      Basic
      Joined: 26.09.2008 Posts: 1
      i should choose $,but
    • TribunCaesar
      TribunCaesar
      Bronze
      Joined: 29.04.2007 Posts: 13,264
      Originally posted by gaz639
      titan do it for u chiller with what they said to me, u have to take all of your money out and then they close it and u create or they create a new one, u can keep the same username as far as i know, you just lose ur points and bonuses
      I am not sure if you have to withdraw the money first, but as far as I know they can change the currency but you will loose the status and points.

      Best regards,
      TribunCaesar