Euro Accounts and Games Launched at PokerStars - Page 11 - Internet Poker

iGrind · 11-18-2009, 01:55 AM

petition against this?heh

LFMTLegend · 11-18-2009, 02:05 AM

I am concerned this change will kill the split-pot games and other non-holdem forms of poker where there is already a lack of game selection. If it does, I won't have to worry about switching currencies back and forth because I will just cash out and play on Tilt.

JasonP530 · 11-18-2009, 02:11 AM

Can someone explain to me why the 1% of the money is necessary to cover costs? There should be no cost of buying into and out of the tables, since the money does not get exchanged at that point. Isn't it only a mythical exchange on pokerstars software? They can't actually move money every time you buy into and leave a table? If this is correct, then the only time they would be paying exchange rates(which should be low for them given volume) would be when people are cashing out.

They don't need to cover changes in the currency exchange because it is as likely to go up as to go down. They should take the money they are using from the float of our funds(which is tremendous) and profits from the rake to buy options and mitigate that risk.

Tirppa · 11-18-2009, 02:13 AM

Needs LHE games

**terp** · 11-18-2009, 02:29 AM

Quote:

Originally Posted by MicroBob

It's entirely possible the player-pool split and annoyance with the currency conversion stuff will impact everything pretty significantly. Perhaps even to the extent that I don't play on Stars nearly as much. This wouldn't be an "out of principle" thing. I don't care. But if I can't conveniently get on enough tables at the right times and am expected to eat 1% fees just to be able to go back and forth then I'm going to have to seriously consider FT and Cake for pretty obvious reasons.

I'm a bit concerned about this 1% thing too. I don't see how this covers their costs really when on other sites I can just have one bankroll and move between different tables and have the exact same amount back in my balance as I should when I'm done.

I admit I don't know a whole lot about how this currency exchange stuff works (ummm, like nothing?) but Stars isn't doing a whole lot to inspire confidence here either.

I'm concerned about this Stars. Please help. Please consider listening to all your customers on here who are insulted by this and/or think this is a bad idea.

I think it's really strange how you evidently don't think this could be potentially harmful to the cash-games. Seems pretty obvious to me.

this, this, this

i have no idea if this is good but it seems that the current PR scheme fails.

*explain why the 0% conversion fee is fiction
*address concerns about splitting the player pool (and please do not offer us the alternate explanation that you are offering 'more games' - this is pretty tough to take seriously)

pattay · 11-18-2009, 02:42 AM

this is bad news

BingBangBoom · 11-18-2009, 02:47 AM

yikes i quit full tilt for stars a few months ago, but this is def big enough to push me back away from stars, you can kiss 100k + fpp a year goodbye, especially if the player pool splits.

Tryptamean · 11-18-2009, 02:49 AM

empty threats itt are kind of humorous lol

Paymenoworlater · 11-18-2009, 02:50 AM

Im sorry, but I dont see any purpose at all with having Euro accounts if pokerstars is gonna charge a 1% conversion fee every time you sit down at a table.

Cat+Cat · 11-18-2009, 03:02 AM

Great work PokerStars!

When there are 99% negative comments, chance that you are heading the right direction is pretty high, thats based on alot of historical cases.

Don't be confuse, just follow your original plan and strats.

thepizzlefosho · 11-18-2009, 03:15 AM

this kind of looks like a trainwreck. why can't they just implement a feature where people can keep their rolls in euros if they want but all of the tables still run in dollars. I'm just really not looking forward to trying to sort through 3-4 different currency types for games and then having huge headaches trying to keep track of winnings for tax purposes.

oh and the vig seems kind of ridiculous. if they think this is going to somehow increase traffic on the site (which is the only purpose in adding the feature) then they should be making money without creating unnecessary fees. 1% vig every time you move some money is pretty ridiculous and that could easily result in thousands a year for people who move money around frequently.

**MicroBob** · 11-18-2009, 03:15 AM

To be clear: I have no problem with different currency tables. Think it's fine for bringing in other players who might like that. But the separate player-pools and seperate account balances and 1% vig to switch something in which Stars isn't REALLY changing the money into the other currency (until the cashout or whatever) just seems really ridiculous to me.

Similar to lacky, I'm willing to wait it out and also listen to further clarification. But I don't even think it should be necessary to ask for further clarification.

The only good I can see coming out of this is perhaps my willingness and ability to monitor all 4 freaking currencies and maybe hop around enough to have some fish-isolation. And if some of the tougher regs decide to leave then game quality could generally increase. But that's all kind of 'glass is half-full' type thinking. It's kind of a, "well, if the whole thing is so stupid that they push the smarter people off their site then at least the game quality might improve!"

Poh · 11-18-2009, 03:19 AM

From another thread.....

Quote:

Originally Posted by Hornstar

I think what stars are saying is that te rate at which your base currency is converted (to the tables and then off again) is 2.9% (or whatever the figure was) more than that quoted at Reuters or XE.com. This would impact the profit as indicated in this table:

Amount--- Exchange--- Amount--- Amount--- Amount --- Profit
bought--- rate --- ---bought--- cashed--- cashed
in--- --------- --- ---in (€) ---out ($) ---out (€)
for ($)
100--- 0.6--- 60--- 137--- 82.2--- 22.2
100--- 0.61--- 61--- 137--- 83.57--- 22.57
100--- 0.62--- 62--- 137--- 84.94--- 22.94
100--- 0.63--- 63--- 137--- 86.31--- 23.31
100--- 0.64--- 64--- 137--- 87.68--- 23.68
100--- 0.65--- 65--- 137--- 89.05--- 24.05

So you see that although you buy in and cashout at the same USD amount, and the ex rate for cashing in and out is the same, depending on the exchange rate used by the site you would make more or less.

So if the exchange rate fo $/€ was 0.63 but ipoker used 0.60 you would make 1.11 less than you should do. I hope this makes sense and is clear.

jfresh · 11-18-2009, 03:24 AM

I agree the 1% fee is kind of a lot, but overall I don't think the idea is as bad as everyone is making it out to be. Stars seems to be a pretty well run company so I want to believe they did their market research before making this decision. Since the idea is to make the general public more 'comfortable' depositing in their own currency, more fish will be at the tables. Yeah, euro fish will play on euro tables, USD fish will play on USD tables. So what? Is it really a big deal if the player pool is 'split'? Its not like there won't be a ton of games running in both currencies, given the size of Stars. So this should only encourage more fish to play.

I feel like the smart grinders will have a solid bankroll in both currencies and will be able to play both types of tables, and will ideally only have to pay the 1% a few times. This is also assuming the statement someone made earlier that deposits/withdrawals are not subject to the 1% fee.

BiggieFats · 11-18-2009, 03:26 AM

Some of us warned Alex in the software improvement thread a few months ago that this was the reaction that Stars was going to get but the response was basically that it's a done deal and not a matter of if but when.