Poker rooms and currencies

    • JackxxRatt
      JackxxRatt
      Bronze
      Joined: 18.07.2007 Posts: 116
      Isn't it time ALL poker rooms allowed us to have an account in our own currency?

      Being in UK and depositing/withdrawing in £'s is a bit of a pain at the moment in the current economic climate.

      Some sites, like on the IPoker Network, allow me to have a £ account, no problems with that, when I transfer money between e-wallet and site I'm exchanging like for like. I deposit in £'s and when I sit at a $ table my stake is converted to $ automatically, once I'm done with the table whatever money I leave the table with is converted back to £'s and I know where my account is at all times.

      Now on to other sites like FTP. My only option there is to deposit into a $ account. I lose money through the exchange everytime I make a deposit or withdrawal. It gets even worse though when I have an amount of money on the site and the $ starts turning into monopoly money. For instance, back on July 10th, $1000 was worth £661, today it's only worth £626, even less if I was to withdraw it. So just to break even over the last 3 months I would've needed to win X amount of $, I kind of feel I'm pissing against the wind when playing on sites like FTP at the moment, especially as the $ is predicted to get weaker.

      Is it really too much to ask all sites operate in the same way as those at IPN or am I just expecting too much here?
  • 6 replies
    • NightFrostaSS
      NightFrostaSS
      Bronze
      Joined: 25.10.2008 Posts: 5,255
      Yea $$ sucks, but ftp doesn't seem to care as usual
    • oblitron
      oblitron
      Bronze
      Joined: 22.01.2010 Posts: 238
      I think a GBP account is also an option at Ladbrokes and Party Poker, but I'm not sure.

      Originally posted by JackxxRatt
      Is it really too much to ask all sites operate in the same way as those at IPN or am I just expecting too much here?
      You have to consider that the Eurozone population is five times the UK population and still the euro is not an option at most sites. Not to mention the currencies of other large countries where poker is rapidly becoming popular. I don't know whether it's because it's a great cost for pokersites or just because not many people complain about it so why bother. Anyway, it's not going to happen unless a huge number of players work together to put pressure on the sites.
    • SilverSag
      SilverSag
      Bronze
      Joined: 11.07.2010 Posts: 512
      And what will you do when dollar will start to raise? Make another thread about switching back to dollars?

      The rooms with GBP accounts still exchange your currency to USD when you sit at the table or leave, so there is no difference. Actually, there is - it is even worse, because you never know at what rate they exchange it!

      Keep your transfers to minimum and transfer when exchange rate is favourable. Or open a USD account in your bank. Shouldn't be THAT difficult.

      I wish all the sites would operate only in USD. Would be easier with limits as well.
    • PocketAcesJohn
      PocketAcesJohn
      Bronze
      Joined: 19.06.2008 Posts: 1,116
      Personally i dont care. I dont plan on withdrawing until i beat NL1k, so i dont have to worry :D

      But anyway, why not just deposit spare £££ when the conversion rate favours it, make a note of it, then withdraw when the conversion rate favours it? You're not forced to withdraw $$$ at any time, so treat poker as it should be treated (as a long term investment).
    • oblitron
      oblitron
      Bronze
      Joined: 22.01.2010 Posts: 238
      Originally posted by SilverSag
      The rooms with GBP accounts still exchange your currency to USD when you sit at the table or leave, so there is no difference. Actually, there is - it is even worse, because you never know at what rate they exchange it!
      Not true. When you join a table your GBP are converted to USD at the current rate and when you leave that table the USD are converted back to GBP at the exact same rate, so you don't lose any money there. However, banks and virtual wallet companies will not use the same rate when you want to sell GBP and when you want to buy GBP; quite the opposite.
    • holnrew
      holnrew
      Bronze
      Joined: 05.07.2010 Posts: 130
      Full Tilt won't even let you change the time zone of the clock... It's like they don't know people live outside of the USA... Well, the East coast anyway.