Titan Openly Steals Your Money!!!!!!

    • west188
      west188
      Bronze
      Joined: 15.03.2008 Posts: 37
      Ok, I'm going to be talking about cents here but it's still MY money. I played SnG today and won $0.60 cents - I know no big deal but hear me out. When it was converted into Euro it became EU 0.44 - ok. But when I went to register for another SnG with buy-in $ 0.50+0.10 it converted amount of $ 0.60 into EU 0.45!!! WTF???!!!
      Their support was absolutely useless trying of cause blame it to the exchange rate (which was the same all day).
      This is just ridiculous how this site is taking you for a fool and openly steals from you. - "Oh, yeah, we just rounded it up". Ok, but why do they always round UP for themselves and always round DOWN for the players?
      Unbelievable. Just frustrated.
      And here is my question. This TP account is tracked to PokerStrategy. I want to close it and open a new one in US dollars though. Will I be able to re-track the new account to PokerStrategy again? That’s all I care about.
  • 17 replies
    • lennert9
      lennert9
      Bronze
      Joined: 06.10.2008 Posts: 278
      We are aware of this fact. It's the same for cashgames.
    • viewer88
      viewer88
      Bronze
      Joined: 19.04.2008 Posts: 5,545
      € ->$ fee?


      nothing you can do about it

      also, I never remembered selecting "euro" as my currency, I think it happened automaticly.
    • Grimzor
      Grimzor
      Bronze
      Joined: 28.03.2008 Posts: 421
      [x] LOL

      All banks do the same, all investment companies etc. What is the big problem and not understanding here? You know that when dealing with money where rounding is involved its going in one of 2 ways: a) enterprise like in this case Titan poker looses money or b) customers loose money. So who do you think will loose it? No enterprise ever makes loss making decision on purpose.

      I am sorry if this really bugs you but i cant not 'lol' about this. Especially since for playing on Titan or any other room you pay rake. You understand that rake is normal part of business but cant see how rounding down cents so house dont loose isnt. Thats is just funny.
    • SoyCD
      SoyCD
      Bronze
      Joined: 20.02.2008 Posts: 6,356
      Originally posted by west188
      Ok, I'm going to be talking about cents here but it's still MY money. I played SnG today and won $0.60 cents - I know no big deal but hear me out. When it was converted into Euro it became EU 0.44 - ok. But when I went to register for another SnG with buy-in $ 0.50+0.10 it converted amount of $ 0.60 into EU 0.45!!! WTF???!!!
      Their support was absolutely useless trying of cause blame it to the exchange rate (which was the same all day).
      This is just ridiculous how this site is taking you for a fool and openly steals from you. - "Oh, yeah, we just rounded it up". Ok, but why do they always round UP for themselves and always round DOWN for the players?
      Unbelievable. Just frustrated.
      And here is my question. This TP account is tracked to PokerStrategy. I want to close it and open a new one in US dollars though. Will I be able to re-track the new account to PokerStrategy again? That’s all I care about.
      Hello west188,

      You would need to contact and ask them if they are able to re-create your new $ account as tracked. I'm not sure because I've heard conflicting stories of this. If they are able to do so - just contact our support afterwards to have them update your profile information.

      As for the conversion rate: it is as Grimzor said - Titan as any company round to their own advantage - since it would otherwise be them that would be losing money. It is an inconvenience one lives with when you decide to use a Euro account. Essentially both accounts have their advantages and disadvantages. If you play for higher stakes and have lots of money online and cash this money out in Euros - the amounts you lose while rounding might be paltry compared to the Dollar losing 10-20% to the Euro which could represent thousands of dollars of 'losses'.

      Its essentially a trade-off: have your entire bankroll exposed to the swings of the financial markets - or pay cents due to rounding. Depending on the size of your bankroll either might be the 'cheaper' solution.

      Best regards
      SoyCD
    • west188
      west188
      Bronze
      Joined: 15.03.2008 Posts: 37
      Thank you guys for all your replies.
    • Dippy19
      Dippy19
      Bronze
      Joined: 04.12.2007 Posts: 1,346
      Actually, they could just use the same rate both ways and nobody would really lose money, they just wouldn't get some extra, right? ?(
    • west188
      west188
      Bronze
      Joined: 15.03.2008 Posts: 37
      Yes Dippy19, that is my point. But what they do is they make you to open an account in EU by default so they can make extras justifying it with "the exchange rate" bullshit. I'm not trading currencies here - I'm playing poker.
    • RavinMic
      RavinMic
      Bronze
      Joined: 03.09.2008 Posts: 41
      Actually I'm from Canada and work at a casino on the American border. The exchange rate to buy is different from the exchange rate to sell (usually a $.04 difference). It's dictated to us every day by the bank of Canada, who gets it dictated to them by the World Bank. If I buy into a game on titan it exchanges my money (CDN $) into their standard currency (US $). When I cash out of the game they use the exact same exchange rate that I bought in at. That's pretty cool of them considering the World bank would have them ripping me off to the tune of 4%. So bickering over a rounded up/down penny is really pretty petty. If they went by the standard (World Bank) you would be getting ripped off even more, and they would have a legit excuse for it.
    • viewer88
      viewer88
      Bronze
      Joined: 19.04.2008 Posts: 5,545
      I don't find it to be petty at all tbh... euro players have to pay more rake! Sure it's only a few cents now... but it accumulates.
    • Dippy19
      Dippy19
      Bronze
      Joined: 04.12.2007 Posts: 1,346
      Originally posted by RavinMic
      Actually I'm from Canada and work at a casino on the American border. The exchange rate to buy is different from the exchange rate to sell (usually a $.04 difference). It's dictated to us every day by the bank of Canada, who gets it dictated to them by the World Bank. If I buy into a game on titan it exchanges my money (CDN $) into their standard currency (US $). When I cash out of the game they use the exact same exchange rate that I bought in at. That's pretty cool of them considering the World bank would have them ripping me off to the tune of 4%. So bickering over a rounded up/down penny is really pretty petty. If they went by the standard (World Bank) you would be getting ripped off even more, and they would have a legit excuse for it.
      Do you change your money, sit down at the table, get up exchange it back, go to lunch(or just change tables) in the casino and then change it back when you want to play again :P
      If you didn't catch my drift, I'm saying it's not the same thing :)

      Anyways, you just wrote that they are changing it back at the same rate, so who's bullshitting here :D :D :D You or west188? :D :D :D

      Btw if you check the forum this isn't the first post about this, so you guys can start a petition or something :)
    • SoyCD
      SoyCD
      Bronze
      Joined: 20.02.2008 Posts: 6,356
      I'm actually pretty sure I had the option to choose either Euro or Dollar account when I signed up - if I'm not mistaken its part of the sign-up procedure to choose.

      Ironically I actually choose Euros since I don't really like having my BR fluctuating with the dollar course :o
    • west188
      west188
      Bronze
      Joined: 15.03.2008 Posts: 37
      And this is not about "a penny". I did not have to open an account in Euro - I simply was not given an option that DOES exist! Now, I was ok with that until I saw this in & out of the gave currency exchange difference. If you charge me a certain amount for 1$ then I want the same amount back when you are paying me with 45 minutes time frame between the exchangies. This is just wrong. They trick you into having your account in EU with this only purpose. They do collect a lot of extra "pennies" by doing so.
    • igyigyigy
      igyigyigy
      Bronze
      Joined: 22.04.2008 Posts: 38
      I've the same problem too. Today I asked the support if I can change the currency and they said it can be changed only f I don't have any money on my account.
    • RavinMic
      RavinMic
      Bronze
      Joined: 03.09.2008 Posts: 41
      Originally posted by Dippy19
      Originally posted by RavinMic
      Actually I'm from Canada and work at a casino on the American border. The exchange rate to buy is different from the exchange rate to sell (usually a $.04 difference). It's dictated to us every day by the bank of Canada, who gets it dictated to them by the World Bank. If I buy into a game on titan it exchanges my money (CDN $) into their standard currency (US $). When I cash out of the game they use the exact same exchange rate that I bought in at. That's pretty cool of them considering the World bank would have them ripping me off to the tune of 4%. So bickering over a rounded up/down penny is really pretty petty. If they went by the standard (World Bank) you would be getting ripped off even more, and they would have a legit excuse for it.
      Do you change your money, sit down at the table, get up exchange it back, go to lunch(or just change tables) in the casino and then change it back when you want to play again :P
      If you didn't catch my drift, I'm saying it's not the same thing :)

      Anyways, you just wrote that they are changing it back at the same rate, so who's bullshitting here :D :D :D You or west188? :D :D :D

      Btw if you check the forum this isn't the first post about this, so you guys can start a petition or something :)
      They do exchange it at the same rate, it says it right in the window that asks you if you're sure you want to leave the table. What he's bitching about is that when the exchanged money comes out to a fraction of a penny they round it in their favour. It's at most .99 of a penny per transaction. That's petty.
    • rowzee
      rowzee
      Bronze
      Joined: 24.08.2008 Posts: 151
      I'm playing the $1.20 and $2.40 SNG's on Titan right now, and this rounding contributes to around 0.5-1% loss in ROI which is not that bad. However, when I played the $0.60 and lower SNG's, it had a huge impact as my ROI in Euros was always 3-7% lower than it would have been in dollars.
    • PokerGirlAA
      PokerGirlAA
      Basic
      Joined: 09.01.2009 Posts: 6
      Hi,

      i just asked them and as per Support department the currency is integrated to the market change and then it can change any second.
      Concerning the Sign Up Currency : if you are in Europe the default currency is € but you have the option to change it and if you already created your account in € and want to change it for $ then yes your balance should be at 0. This is a system configuration.
    • dlfoster
      dlfoster
      Bronze
      Joined: 13.12.2008 Posts: 6
      I'm Australian and my bankroll is in euros.

      I actually like it because I think it makes me play better, and I don't feel swings as badly which keeps me from going on tilt.